Cashbuild Limited · JSE:CSB
Cashbuild — H1 2026 Earnings Presentation
32 slides from Cashbuild's earnings presentation, Dec 28, 2025
Slide 1: Interim Results Presentation
Interim Results Presentation for the six months ended 28 December 2025
Slide 2: Nature of Business
Nature of Business Mass retailer of building materials, Offers a focused range of home improvement and related products quality products at competitive prices Selling predominantly for cash 322 stores 2
Slide 3: Financial Key Statistics
Financial Key Statistics Statutory period-on-period Revenue Operating profit* Headline earnings per share Net asset value per share R6.3bn R191m 675 cents R79.25 3% 10% 18% Rand 7 1400 Rbn Cents 600 100 Rm 6 1200 500 5 1000 400 90 4 800 300 3 600 200 80 2 400 1 100 200 0 0 0 70 HY22 HY23 HY24 HY25 H
Slide 4: Financial review
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Slide 5: Income Statement
Income Statement Period-on-period Reviewed Reviewed Audited 28 Dec 29 Dec 29 Jun 2025 2024 2025 R’m (26 Weeks) (26 Weeks) % variance (52 Weeks) Revenue 6 305 6 093 3 11 478 Gross profit 1 579 1 481 7 2 845 Gross profit % 25.0 24.3 24.8 Operating expenses (1 388) (1 308) 6 (2 572) Operating expenses
Slide 6: Gross Profit and Operating Profit Margin
Gross Profit and Operating Profit Margin 28% 12% 27% 26.6% 10% 26% 26.0% 25% 25.3% 25.5% 25.3% 8.4% 24.8% 25.0% 8% 24.7% 24% 24.3% 23% 6% 22% 4.6% 4% 21% 3.2% * ** 20% 3.0% 2.9% 2% 19% 18% 0% FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 1HY 2HY HY Operating profit margin * Operating profit margin, includ
Slide 7: Operating expenses
Operating expenses Existing stores# % of % of 28 Dec 29 Dec % variance R’m revenue total 2025 2024 % variance Dec 2025 Total 22.0 1 388 1 308 6 4 Main contributors: People 1 9.5 43.2 600 571 5 3 Property 3.9 17.8 247 245 1 (2) Advertising 1.8 8.0 111 107 4 1 IT 2 1.7 7.7 107 90 19 18 Delivery 1.2 5.
Slide 8: Customer Transactions
Customer Transactions ‘000 All stores Growth: Q1: 6% Q2: 2% 1,600 1,400 1,200 1,000 Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun FY2024 FY2024 (Incl W53) FY2025 FY2026 • Various marketing activities to attract new customers • Aggressive pricing strategy FY2025 & FY2024 smoothed for comparative 4
Slide 9: Average Basket Size
Average Basket Size Rand All Stores Growth Q1: 0% Q2: 0% 780 760 740 720 700 680 660 640 620 Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun FY2024 FY2025 FY2026 HY2026 Avg – R742 HY2025 Avg – R744 FY2025 & FY2024 smoothed for comparative 4 weeks and 5 weeks 9
Slide 10: Segmental Disclosure
Segmental Disclosure Cashbuild All other Cashbuild Namibia, Cashbuild Botswana and Total Group South Africa South Africa1 Lesotho and eSwatini Malawi 28 Dec 29 Dec 28 Dec 29 Dec 28 Dec 29 Dec 28 Dec 29 Dec 28 Dec 29 Dec R’m % % % % % 2025 2024 2025 2024 2025 2024 2025 2024 2025 2024 Revenue 5 229 5
Slide 11: Headline Earnings per Share (HEPS) and Dividend per Share (DPS)
Headline Earnings per Share (HEPS) and Dividend per Share (DPS) Period-on-period 1200 1,130 1000 800 694 675 587 Cents 600 552 573 400 393 400 325 326 18% 200 21% 0 HY 2022 HY 2023 HY 2024 HY 2025 HY 2026 HEPS DPS Dividend cover policy maintained at 1.5 times Cashbuild Empowerment Trust – R378 milli
Slide 12: Statement of Financial Position
Statement of Financial Position Reviewed Reviewed Audited R’m 28 Dec 2025 29 Dec 2024 % variance 29 Jun 2025 Assets Property, plant and equipment 1 348 1 234 9 1 275 Right-of-Use assets 1 056 983 7 945 Intangible assets 211 127 66 125 Inventories 2 188 2 027 8 1 910 Trade and other receivables 117 1
Slide 13: Cash Flow
Cash Flow R’million Working capital inflow 2900 R179m ( 79%) 2700 428 3 66 (50%) 41 2500 279 413 231 (50%) >100% 29% 156% 2300 175% >100% 18 153 36 4% 100 2,063 2100 (4%) 20% (61%) 11% 1,949 >100% >100% 1900 >100% 1700 259 1 440* 1 592* 1500 (8%) 1300 1100 509 900 471 700 8% June Cash Inventory Debt
Slide 14: Product categories
02 Product categories
Slide 15: Group Sales per Week
Group Sales per Week R’million Q1 Q2 Q3 340 300 260 220 180 140 W1 W3 W5 W7 W9 W11 W13 W15 W17 W19 W21 W23 W25 W27 W29 W31 W33 W35 W37 W39 W41 W43 W45 W47 W49 W51 FY2024 FY2025 FY2026 15
Slide 16: Cement Sales
Cement Sales Pockets Q1 Q2 Q3 650 600 550 500 450 400 350 300 250 200 W1 W3 W5 W7 W9 W11 W13 W15 W17 W19 W21 W23 W25 W27 W29 W31 W33 W35 W37 W39 W41 W43 W45 W47 W49 W51 FY2024 FY2025 FY2026 16
Slide 17: Cement Unit Sales
Cement Unit Sales Per Supplier Dec 2024 Jun 2025 Dec 2025 9% 9% 9% 8% 10% 9% 4% 5% 5% 6% 6% 2% 7% 3% 27% 23% 30% 4% 27% 30% 11% 12% 31% 13% AFRISAM PPC AFRIMAT NPC SEPHAKU MAMBA CEMZA OTHER 17
Slide 18: Total Timber Sales
Total Timber Sales R’million Q1 Q2 Q3 22 20 18 16 14 12 10 8 W1 W3 W5 W7 W9 W11 W13 W15 W17 W19 W21 W23 W25 W27 W29 W31 W33 W35 W37 W39 W41 W43 W45 W47 W49 W51 FY2024 FY2025 FY2026 18
Slide 19: Total Brick Sales
Total Brick Sales R’million Q1 Q2 Q3 17 15 13 11 9 7 W1 W3 W5 W7 W9 W11 W13 W15 W17 W19 W21 W23 W25 W27 W29 W31 W33 W35 W37 W39 W41 W43 W45 W47 W49 W51 FY2024 FY2025 FY2026 19
Slide 20: Total Roof Sales
Total Roof Sales R’million Q1 Q2 Q3 27 23 19 15 11 W1 W3 W5 W7 W9 W11 W13 W15 W17 W19 W21 W23 W25 W27 W29 W31 W33 W35 W37 W39 W41 W43 W45 W47 W49 W51 FY2024 FY2025 FY2026 20
Slide 21: Total Opening Sales
Total Opening Sales R’million Q1 Q2 Q3 25 23 21 19 17 15 13 11 W1 W3 W5 W7 W9 W11 W13 W15 W17 W19 W21 W23 W25 W27 W29 W31 W33 W35 W37 W39 W41 W43 W45 W47 W49 W51 FY2024 FY2025 FY2026 21
Slide 22: Total Decorative Sales
Total Decorative Sales R’million Q1 Q2 Q3 73 63 53 43 33 23 W1 W3 W5 W7 W9 W11 W13 W15 W17 W19 W21 W23 W25 W27 W29 W31 W33 W35 W37 W39 W41 W43 W45 W47 W49 W51 FY2024 FY2025 FY2026 22
Slide 23: Store development and summary
03 Store development and summary
Slide 24: Sales by Province
Sales by Province 1400 6.7% 1200 0.7% 1000 0.9% 7.8% 800 4.5% 8.2% 600 (3.9%) 400 2.4% 1.2% (0.2%) 200 71 67 65 65 41 42 39 38 27 29 27 26 20 19 15 15 10 10 7 7 0 Gauteng Limpopo Mpumalanga Eastern Cape Countries KwaZulu-Natal North West Free State Western Cape Northern Cape Period-on-period sales c
Slide 25: Stores by Location
Stores by Location Township 87 (86) Countries 27 (29) 2.4 % Metro 4.5 % 23 (21) 1.2 % 4.5 % 7.2 % Rural 87 (87) 4.6 % 1.8 % Town (1.5 %) 98 (95) 5.1 % 2.6% Number of stores (HY2025) Sales growth Existing growth Town Rural Township Countries Metro 25
Slide 26: Store Development
Store Development Total Group Stores Group Refits, Relocations and Conversions 318 318 322 318 322 22 21 23 33 4 6 6 8 7 13 7 16 20 20 17 14 314 312 316 310 315 6 3 Jun 22 Jun 23 Jun 24 Jun 25 Dec 25 Jun 22 Jun 23 Jun 24 Jun 25 Dec 25 Existing stores New stores 1st Half 2nd Half HY2026 Store Summary
Slide 27: Store Format Representation
Store Format Representation Cashbuild Cashbuild SMS P&L Hardware 255 256 254 252 248 9 10 17 29 36 54 52 51 34 28 Jun 22 Jun 23 Jun 24 Jun 25 Dec 25 Jun 22 Jun 23 Jun 24 Jun 25 Dec 25 Jun 22 Jun 23 Jun 24 Jun 25 Dec 25 Amper Alles Cashbuild Xtra Cabifit (2 store in-store) 0 0 0 0 3 0 0 0 2 5 0 0 0 2
Slide 28: New Stores HY2026
New Stores HY2026 Eastern Cape ▪ Zwelitsha (SMS) Namibia Limpopo Botswana ▪ The Oaks (SMS) ▪ Baobab Mall eSwatini South Africa Lesotho Gauteng ▪ Nasrec South Africa Gauteng ▪ Rayton ▪ Silver Lakes Limpopo SMS – Small/Alternative Model Stores Cashbuild Cabifit Amper Alles ▪ Groblersdal 28
Slide 29: Competitor Landscape
Competitor Landscape Corporate Competitors c. R40 billion market Owned by Independent Competitors c. R40 billion market 29
Slide 30: Summary
Summary DIY market remains under pressure due to weak consumer sentiment Cashbuild Group remains one of Growth 1st 7 Weeks FY2026: 8% southern Africa’s leading retailers of South Africa’s economy is expected to see modest growth in 2026, supported by quality building easing inflation materials, asso
Slide 31: Thank you
Werner de Jager Chief Executive Officer Hanré Bester Chief Financial Officer Thank you Shane Thoresson Chief Operating Officer For your attendance and participation For any further Investor Relations questions please contact: Keyter Rech Investor Solutions Marlize Keyter www.cashbuild.co.za mkeyter@
Slide 32: Disclaimer
Disclaimer This presentation differs from the presentation available on the website as a result of industry sensitive information contained therein. The financial information pertaining to Cashbuild Limited’s (Cashbuild’s) results are based on the results published on SENS in terms of the JSE Limite