Blu Label Unlimited Group (BLU) Trading update summary

Financial performance overview

• Expects basic, headline, and core headline earnings per share for the year ended 31 May 2026 to decrease by more than 20% compared to the prior year.

• Excluding Cell C and Comm Equipment Company, revenue would have been R9.4 billion, gross income R2.555 billion, EBITDA R923 million, and net profit after tax R677 million.

• Core headline earnings would have totaled R681 million, equating to Core HEPS of 75.33 cents.

• Imputed gross revenue from PINless top-ups, prepaid electricity, ticketing, and universal vouchers amounted to R99.9 billion.

Impact of Cell C restructuring and listing

• Non-operational accounting effects from Cell C restructuring and listing materially impacted reported earnings.

• Both the reporting and comparative periods were affected by these transactions and related IFRS accounting consequences.

• Resulted in a material decline in reported EPS, HEPS, and Core HEPS for the reporting period.

Earnings guidance and outlook

• Earnings per share expected to decrease by more than 100%, from 276.52 cents to a loss of 542.50–536.96 cents.

• Headline earnings per share anticipated to drop by 81–83%, from 455.96 cents to 79.02–88.14 cents.

• Core headline earnings per share projected to fall by 80–82%, from 461.63 cents to 83.58–92.82 cents.