Hosken Consolidated Investments (HCI) H1 2025 earnings summary

Executive summary

• Income decreased by 1% to R23,437 million year-over-year, with EBITDA down 13% to R5,242 million and profit before tax at R7,560 million.

• Headline earnings rose 3% to R1,213 million, with headline earnings per share at 1,499.5 cents.

• Major acquisitions included Impact Oil and Gas Limited and Africa Energy Corp., resulting in significant increases in goodwill and intangible assets.

• A final ordinary dividend of R1.20 per share was declared for the year ended 31 March 2025.

Financial highlights

• Revenue: R23,437 million, down 1% year-over-year.

• EBITDA: R5,242 million, down 13% year-over-year.

• Headline earnings: R1,213 million, up 3% year-over-year.

• Profit before tax: R7,560 million.

• Net asset value per share: 30,318 cents.

• Cash and cash equivalents at year-end: R3,075 million.

Outlook and guidance

• The group expects sufficient liquidity to meet foreseeable obligations, assuming stable lending rates.

• New eight-year coal off-take agreement secured post year-end, expected to stabilize coal mining revenue.