Metair Investments Limited · JSE:MTA
Metair Investments — H1 2026 Earnings Presentation
20 slides from Metair Investments's earnings presentation, Jun 30, 2026
Slide 1: Results presentation for the 6 months ended 30 June 2026
Results presentation for the 6 months ended 30 June 2026
Slide 2: Agenda
Agenda 01 CEO Update & Operational Review 02 Financial Review 03 Outlook and Prospects 04 Q&A 2
Slide 3: CEO Update & Operational Review
01 CEO Update & Operational Review Paul O’Flaherty
Slide 4: Metair at a glance
Metair at a glance Automotive Component Manufacturing (OEM) - 67% of revenue Aftermarket Parts and Retail (AFM) – 33% of revenue Original equipment components used in the assembly of new vehicles Components used in the fast-growing aftermarket spare parts market Key products: wiring harnesses, headl
Slide 5: H1 2026: Strategy delivering results
H1 2026: Strategy delivering results Underlying earnings stabilise as operational reset delivers; AutoZone recovery and cash conversion are key near-term priorities Highlights Solid H1 2026 performance Forecast automotive component aftermarket size • Strategic reset substantially • Revenue stable in
Slide 6: Vehicle volumes
Vehicle volumes SA motor vehicle production – passenger cars and LCVs (‘000) 700 649 593 602 600 PRODUCTION 541 503 500 • Local production remains subdued and 400 uneven across Metair’s customers 283 286 300 • Toyota South Africa invested R10.4 billion in 200 the 9th generation Toyota Hilux - larges
Slide 7: The Import Surge
The Import Surge As total sales recovered, the mix tilted sharply toward imports: locally built vehicles have fallen to under a third of the market, the lowest share on record Locally built in SA Imported The import surge 56% 69% 58% 59% 63% of new light vehicles sold in SA were imported in 2025 — 6
Slide 8: Automotive Component Manufacturing Division
Automotive Component Manufacturing Division Operating environment › Local production subdued, due to import penetration › Localisation remains below industry targets › Logistics, energy and infrastructure constraints hamper exports Hesto › Metair’s flagship harness/wiring operation › Remarkable turn
Slide 9: Metair Aftermarket Parts and Retail Division Africa
Metair Aftermarket Parts and Retail Division Africa Integral to the diversification strategy AutoZone › Progress 6 months behind expectations, as previously flagged › New management team making good progress › Returned to profit from May 2026 First Battery › Challenging market conditions › Market pr
Slide 10: Operational performance
Operational performance Automotive Component Manufacturing (OEM) Aftermarket Parts and Retail (AFM) Products Products Wiring harnesses, instrument Revenue Automotive batteries, Revenue cluster / combination battery distribution meters, moulded parts R2.6bn down 17%(1) networks, & First Battery R1.9b
Slide 11: Financial Review
02 Financial Review Alastair Walker
Slide 12: H1 2026 results summary
H1 2026 results summary Revenue EBITDA EBIT Increased marginally to increased 8% to increased 1% to R8.5 billion R760 million R444 million (H12025: R8.5 billion) (H12025: R703 million) (H12025: R439 million) Group Net Debt HEPS ROIC R4.3 billion from continuing operations Increased to (H12025: R5.0
Slide 13: Segmental summary
Segmental summary On IFRS Basis 1 OEM AFM GROUP 2 AFRICA ROMBAT R’million H12026 H12025(1) Var. H12026 H12025 Var. H12026 H12025 Var. H12026 H12025 Var. Reported revenue 5 732 5 491 4% 1 858 1 757 6% 955 1 216 (21%) 8 545 8 463 1% EBITDA 626 535 17% 135 139 (4%) 83 83 (1%) 760 703 8% EBIT 433 387 12
Slide 14: Cash flow
Cash flow Total cash utilised (Excl. Rombat): R523m 697 1 212 ( 493) 7 ( 307) ( 50) ( 210) 620 ( 167) ( 69) Net Cash Cash generated Working Interest Taxation Dividend Investing Financing Rombat net H1 2026 FY2025 before working Capital paid paid from Assoc Activities Activities Cash Utilised capital
Slide 15: Debt structure
Debt structure Debt is housed within 3 separate, ringfenced structures: • SA Obligor (comprising all SA based companies, excl Hesto) • Hesto (as a standalone obligor) • Rombat SA Obligor (R’million) Hesto (R’million) As at 30 June 2026 Type Facilities Maturity As at 30 June 2026 Type Facilities Matu
Slide 16: Funding structure
Funding structure • SA Obligor refinancing successfully SA Obligor Debt Maturity (R’million) completed (April 2026) • Hesto refinancing in progress 1000 • Five-year debt maturity aligned to 1300 earnings and cash flow profile 133 162 50 200 250 250 250 • Continued focus on cash generation FY2026 FY2
Slide 17: Capital Allocation/Commitment
Capital Allocation/Commitment Capital expenditure (H1 2026) R’million Return on invested capital (ROIC) 244 4 14 12 12,00% 154 12 11,1% 11,2% 16 172 10,00% 62 76 60 214 8,00% H12025 H12026 7,1% Maintenance Expansion Rombat OEM AFM AFM HO & General & Efficiency (Africa) (Rombat) 6,00% Capital Commitm
Slide 18: Outlook and Prospects
03 Outlook and Prospects Paul O’Flaherty
Slide 19: Outlook
Outlook Automotive sector at a OEM market AutoZone turnaround a Diversification strategy critical crossroads near-term priority continues • Strategic government • Toyota produced higher • Signs of improvement in • Growing the aftermarket decisions are pivotal to volumes in the half-year, the general
Slide 20: Q&A
04 Q&A