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Bid Corporation (BID) investor relations material
Bid Corporation Q1 2026 TU earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2026 TU earnings summary12 Nov, 2025
Trading performance and financial trends
Revenue grew 8.0% (6.4% in constant currency), with organic growth of nearly 4% and acquisitions contributing up to 1.4%; food inflation added 2–2.5%.
Trading profit increased 8.6% in ZAR (6.4–6.8% in constant currency), with margins slightly up despite global cost and margin pressures.
Headline earnings per share rose 7.2% (5.1% in constant currency), aided by currency volatility.
Free cash flow and working capital improved year-on-year, with lower capital investment and acquisition outflows.
EBITDA margin (pre-IFRS 16) reached 6.1%, and the balance sheet remains strong with R22.3 billion in available headroom.
Regional and divisional performance
Europe delivered 9% sales growth in constant currency, with strong results in Italy and Poland.
UK achieved nearly 5% sales growth and over 8% trading profit growth, with improved margins and new contract wins.
Australasia faced tough conditions; Australia saw 5% revenue growth mainly from volume, and New Zealand showed signs of recovery.
Emerging Markets posted 7% sales and profit growth in constant currency; South Africa showed double-digit growth, Brazil improved, and Argentina remained volatile but profitable.
Greater China and Chile faced margin pressure and challenges, while Malaysia and Singapore performed well.
Strategic and operational updates
Four small acquisitions were completed in South Africa, Italy, the UK, and Malaysia, with a disciplined approach to bolt-on deals.
M&A pipeline has shortened as many targets have passed peak profitability.
Focus remains on Own Brand, imports, and light value-add manufacturing to sustain margins.
CapEx spend has been reduced, prioritizing organic growth and strategic investments.
Fleet and material handling equipment replacement has stabilized post-COVID.
Impact of margin sacrifice on YTD profit
Drivers of regional performance divergence
Focus for future acquisition opportunities
Address China's margin erosion from distribution shift
M&A pipeline: How to address peak profitability sellers?
UK's path to 5% margins given new customer impact?
Address China's 'race to the bottom' margin impact
Capital allocation strategy given M&A pipeline
Quantify UK new customer's future profit contribution
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Next Bid Corporation earnings date
Q2 202625 Feb, 2026
Next Bid Corporation earnings date
Q2 202625 Feb, 2026
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Frequently asked questions
Bid Corporation Limited, commonly known as Bidcorp, is a South Africa-based international foodservice group. The company is engaged in the distribution and supply of food and related products to the hospitality, institutional, catering, and retail sectors. Its operations include a wide range of foodservice offerings, such as fresh, frozen, ambient, and non-food items, across multiple international markets. Bidcorp operates through decentralized businesses in regions including Europe, the UK, Australasia, and emerging markets. The company is headquartered in Johannesburg, South Africa, and its shares are listed on the JSE.
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