Argent Industrial (ART) H2 2024 earnings summary

Executive summary

• Achieved record attributable earnings of R244.9 million, up 6.3% from R230.5 million year-over-year, with headline earnings per share rising to 438.5 cents from 411.3 cents.

• Revenue increased to R2.54 billion, a 3.4% rise compared to the previous year, driven by growth in both manufacturing and international operations.

• Expanded international footprint, including new operations in France and increased exports to over 38 countries.

• Continued share buyback program, repurchasing 1.63 million shares at an average price of R15.45.

• Final dividend of 60 cents per share declared, bringing the total dividend for the year to 115 cents per share.

Financial highlights

• Revenue: R2.54 billion (2024), up from R2.46 billion (2023).

• Attributable earnings: R244.9 million, up from R230.5 million.

• Headline earnings per share: 438.5 cents (2024) vs 411.3 cents (2023).

• Net asset value per share: 3,115.4 cents, up from 2,683.6 cents.

• Return on shareholders’ equity: 14.2% (2024) vs 15.2% (2023).

• Gearing ratio reduced to 2.8% from 6.3%.

Outlook and guidance

• Overseas operations expected to maintain current performance levels based on strong order books.

• Strategic focus on expanding fuel storage and airport fuel transfer business, including electric and hybrid vehicle technology.

• Continued investment in international markets and further working capital optimization planned.