Hosken Consolidated Investments (HCI) H2 2026 earnings summary

Executive summary

• Headline earnings rose 46.5% year-over-year to R1.776 billion, with strong contributions from coal, media, hotels, and property segments.

• Revenue increased 3% to R24.2 billion, EBITDA up 4% to R5.43 billion, and headline earnings per share up 50% to 2,248 cents.

• Major share buybacks (9.8 million shares) at discounted prices supported capital allocation and B-BBEE status.

• Board succession underway: CEO to retire in FY2028, joint CEO appointed.

Financial highlights

• Revenue: R24.2 billion (+3% year-over-year); EBITDA: R5.43 billion (+4%).

• Headline earnings: R1.776 billion (+46.5%); headline EPS: 2,248 cents (+49.9%).

• Net asset value per share: 33,597 cents; dividend per share: 200 cents.

• Net borrowings reduced; Southern Sun moved to net cash position.

Outlook and guidance

• Focus on disciplined capital allocation, further debt reduction, and investment in growth projects.

• Impact Oil & Gas Venus project in Namibia targeting FID in 2026; first oil possible by 2030.

• Ongoing diversification beyond coal and expansion in renewable energy and hospitality.