Hosken Consolidated Investments (HCI) H2 2026 earnings summary

Executive summary

• The group maintained a diversified investment portfolio across gaming, media, transport, energy, manufacturing, and property sectors, with significant holdings in both listed and unlisted companies as of 31 March 2026.

• The annual financial statements were prepared in accordance with IFRS and audited by Forvis Mazars, who issued an unmodified opinion.

• The board confirmed the group’s status as a going concern, supported by strong liquidity and compliance with all debt covenants.

Financial highlights

• Group revenue increased to R24.2 billion (2025: R23.4 billion), with EBITDA of R5.43 billion (2025: R5.24 billion).

• Net profit attributable to equity holders was R2.54 billion, down from R6.72 billion in the prior year, reflecting lower investment gains and higher impairments.

• Headline earnings per share were 2,248 cents (2025: 1,500 cents); basic EPS was 3,213 cents (2025: 8,314 cents).

• Total assets stood at R64.2 billion, with equity attributable to shareholders at R25.3 billion.

• Ordinary dividends of 200 cents per share were declared for the year (2025: 170 cents).

Outlook and guidance

• The group remains focused on value creation through active portfolio management and disciplined capital allocation.

• Management expects continued macroeconomic and regulatory headwinds, particularly in South Africa, but is confident in the group’s resilience and liquidity.

• No material changes in financial or trading position have occurred since year-end; subsequent events include property disposals and an increase in the H2AU stake.