Santova (SNV) H1 2027 earnings summary

Executive summary

• H1 FY2027 NPAT rose 54.2% to R70.8m; HEPS increased 57.4% to 56.2 cents.

• Revenue and net interest income grew 40.2% to R681.8m, including six months of Seabourne versus three months in the prior period; excluding Seabourne, growth was 4.9%.

• Operating margin rose to 14.2% from 13.5%, despite the expanded mix of lower-margin fulfilment and express courier services.

Financial highlights

• Operating profit increased to R96.7m from R65.6m; profit before tax rose 48.1% to R95.8m.

• Net profit after tax increased 54.2% to R70.8m from R45.9m; basic EPS was 55.06 cents versus 35.78 cents.

• Headline earnings climbed 57.2% to R72.0m; HEPS advanced 57.4% to 56.17 cents from 35.68 cents.

• Reported revenue and net interest income growth reflected Seabourne’s fuller-period contribution; comparable growth excluding Seabourne was driven by UK and Netherlands volumes and higher freight rates.

Outlook and guidance

• The six months to 28 February 2027 remain uncertain amid protectionist measures, geopolitical tensions, shipping disruptions and freight-rate volatility.

• Eurozone manufacturing has returned to expansion, while resilient UK and Netherlands markets are expected to support near-term trade activity.

• Diversified geographies, broad services, technology and increased scale following Seabourne support resilience; priorities include execution, efficiency and customer value.