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Zeda (ZZD) investor relations material

Zeda 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 summary25 Nov, 2025

Executive summary

  • Revenue increased 1.7% to ZAR 10.6 billion, with headline earnings per share up 15.7% to ZAR 3.61, driven by strong leasing and subscription growth.

  • Leasing revenue grew 15.7% to ZAR 3.2 billion, while rental revenue declined 3.4% but operating profit rose 23.3%.

  • Robust performance in Greater Africa, especially Zambia, Lesotho, Ghana, and Namibia, contributed to growth.

  • Disciplined capital allocation, diversified funding, and ESG integration supported sustainable growth.

  • Operating profit surged to ZAR 1.6 billion, up 10.8% year-over-year.

Financial highlights

  • Leasing revenue reached ZAR 3.2 billion, up 15.7% year-over-year, with EBITDA margin at 53.1%.

  • Rental business revenue declined 3.4% to ZAR 7.4 billion, but operating margin improved to 12%.

  • Net debt to EBITDA improved to 1.5x, with net debt of ZAR 5.2 billion.

  • Return on invested capital at 14.7%, well above WACC of 10.8%.

  • Final dividend of ZAR 1.26 per share, total dividend ZAR 1.81, up 81% over prior years.

Outlook and guidance

  • Focus on expanding in Africa, leveraging new country allocations and geographic expansion.

  • Continued investment in technology, data, and digitalization to enhance customer experience.

  • Growth expected in leasing, heavy commercial, and subscription offerings.

  • Plans to maintain optimal capital structure, lengthen debt maturity, and rebalance toward unsecured funding.

  • Commitment to responsible, sustainable business practices and ethical leadership.

Avis 20 countries: expansion plan details
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Frequently asked questions

Zeda Limited is a car rental company in South Africa and several other countries across Sub-Saharan Africa. Holding the exclusive license to the globally recognized Avis and Budget brands in these regions, Zeda Limited offers a broad spectrum of mobility solutions. These include short to medium-term car rentals and vehicle fleet leasing services, catering to a diverse clientele through two main business segments: rentals and leasing.

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