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Remgro (REM) investor relations material

Remgro H2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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H2 2025 earnings summary23 Sep, 2025

Executive summary

  • Headline earnings increased by 38.6% year-over-year to R7.8 billion, with headline earnings per share up 38.4% to R14.09.

  • Ordinary dividend increased by 30.3% to 344 cents per share, with a special dividend of 200 cents declared, funded by the sale of BAT shares.

  • Balance sheet fully de-geared, creating capacity for new investments and growth.

  • Portfolio simplification advanced with the unbundling of eMedia Investments, disposal of BAT and Grow and Grunwald shares, and pursuit of the CIVH/Vodacom deal.

  • OUTsurance, Mediclinic, RCL Foods, and Rainbow delivered strong operational and financial performances.

Financial highlights

  • Adjusted headline earnings rose 24% year-over-year, reflecting underlying operational improvements.

  • Dividends received rose 23.6% to R3.87 billion.

  • Intrinsic net asset value (INAV) increased 16.7% to R162.5 billion, with INAV per share up 16.5%.

  • Cash at the center increased by R1.5 billion to R8.3 billion; net cash up R4 billion due to preference share redemption.

  • Closing share price up 16.2% year-over-year.

Outlook and guidance

  • Focus remains on sustainable headline earnings growth, active performance optimisation, and continued portfolio simplification.

  • Positive momentum seen in the first months of the new financial year across most portfolio companies.

  • Ongoing emphasis on capital allocation, ESG integration, and risk management.

  • Continued investment in core portfolio and simplification through rationalisation of non-core assets.

  • ESG action and enhanced climate reporting to be embedded across the group.

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Frequently asked questions

Remgro Limited is a South Africa-based investment holding company with a diversified portfolio spanning various industries. The company holds significant interests in sectors such as healthcare, consumer products, financial services, industrials, infrastructure, and media. Remgro operates primarily as a long-term investor, providing strategic oversight and capital support to its portfolio companies. Its investments include both listed and unlisted entities, primarily within South Africa but also in selected international markets. The company is headquartered in Stellenbosch, South Africa, and its shares are listed on the JSE.

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