South Africa · Delayed Price · Currency is ZAR · Price in ZAc Sun International Earnings Call Transcripts
Fiscal Year 2026
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Land-based casinos returned to growth and SunBet posted over 35% growth, driving an 8% rise in adjusted EPS. Investments in technology, marketing, and operational efficiency are supporting gains, while management maintains a robust capital allocation and dividend policy.
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Revenue grew 7.4% in H1 2026, led by strong Sunbet and casino performance, with adjusted EBITDA up 2% despite heavy investment. Interim dividend rose 7.6%, and the second half started ahead of guidance, reflecting confidence in long-term growth.
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A five-year plan targets digital leadership, omnichannel scale, and operational excellence, with aggressive online growth, land-based optimization, and disciplined capital allocation. Regulatory engagement, technology investment, and a revamped leadership team support a 6%-8% revenue CAGR and ROIC above 20%.
Fiscal Year 2025
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Income grew 7% to ZAR 12.9 billion, with adjusted headline earnings up 6% and strong cash generation supporting increased dividends. SunBet and Sun City delivered standout growth, while the group strengthened its balance sheet and digital capabilities.
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SunBet posted 70% growth, offsetting softness in land-based casinos and hotels, with Sun City and The Maslow performing well. Net debt to EBITDA stands at 1.5x, and capital allocation remains focused on investment and potential acquisitions.
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Group income rose 6.7% year-on-year to ZAR 6.1 billion, led by SunBet's 70.7% surge and steady contributions from SunSlots and hotels. Adjusted EBITDA grew 1.1% to ZAR 1.6 billion, with strong cash generation and a robust balance sheet supporting ongoing investment and shareholder returns.