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The Bidvest Group
The Bidvest Group (BVT) investor relations material
The Bidvest Group H2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.H2 2025 earnings summary1 Sep, 2025
Executive summary
Delivered resilient results with strong cash generation and operational excellence, despite mixed divisional performances.
Services South Africa, Services International, Branded Products, and Automotive divisions achieved trading profit growth, while Freight, Commercial Products, and Adcock Ingram saw contractions.
Nine acquisitions completed, including Citron (North America), with major disposals such as FinGlobal sale concluded and Bidvest Bank disposal pending.
Portfolio streamlined through ongoing disposals and integration of new acquisitions across SA, UK, Australia, and North America.
Financial highlights
Group revenue increased 5% to ZAR 127 billion, with organic revenue flat due to price-sensitive demand and currency effects.
Trading profit rose 1% to ZAR 12 billion; trading margin declined from 9.9% to 9.5%.
Cash generated by operations grew 5.8% to ZAR 14.7 billion, with a cash conversion ratio of 95%.
Net debt to EBITDA increased to 2.2x, remaining within covenant limits.
Final dividend of ZAR 4.53 per share, up 1.3% year-over-year.
Outlook and guidance
Focus on building the world’s largest hygiene business, prioritizing organic growth over M&A in FY 2026.
Targeting net debt to EBITDA below 2x in FY 2026 and closer to 1.5x in FY 2027.
Bullish near-term outlook, leveraging new business wins, contract retention, and streamlined group structure.
Tax rate expected to normalize around 25%, with interest rates in the low 6% range for FY 2026.
Full-year contribution expected from Citron NA and UK acquisitions; plans to delist Adcock Ingram and leverage new co-shareholder expertise.
Hygiene growth without major M&A in FY26?
Drivers for Freight & Commercial Products growth?
Key levers for net debt-to-EBITDA reduction?
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H1 20262 Mar, 2026
The Bidvest Group
Next The Bidvest Group earnings date
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Frequently asked questions
The Bidvest Group Ltd is a South Africa-based conglomerate operating across a wide range of sectors, including services, trading, and distribution. The company’s business portfolio includes areas such as foodservice, freight management, office and print solutions, automotive retail, financial services, and healthcare. Bidvest’s diversified operations serve both local and international markets, with a focus on delivering essential goods and services across industries. Its subsidiary companies operate semi-independently to provide tailored solutions within their respective sectors. The company is headquartered in Johannesburg, South Africa, and its shares are listed on the Johannesburg Stock Exchange.
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