Santova Limited · JSE:SNV
Santova — FY2025 Earnings Presentation
37 slides from Santova's earnings presentation, Jun 9, 2025
Slide 1: Annual Results for the period ended 28th February 2025
Presented by: Glen Gerber (CEO) and James Robertson (GFD) Annual Results for the period ended 28th February 2025 www.santova.com 9th June 2025
Slide 2: A specialist in innovative international trade solutions
The Santova Group is an international, technology-based trade solutions specialist, delivering innovative end-to-end supply chain solutions. A specialist in innovative international trade solutions International Trade Advanced Supply Chain Business Intelligence Value Add Services Services Technologi
Slide 3: Santova remains a non-asset-based business
SANTOVA REMAINS A NON-ASSET-BASED BUSINESS Revenue is generated through intangible assets, intellectual property, and the skills, knowledge and capabilities of employees. The signing of a long-term lease for a fulfilment center (‘specialised warehouse’) is recognised as a "right-of-use (ROU) asset"
Slide 4: Global Footprint
France Seabourne Paris Netherlands Lyon Santova Logistics Germany Seabourne Santova Logistics Schiphol Hamburg Rotterdam Frankfurt Eindhoven United Kingdom Santova Logistics Tradeway Shipping Mainland China SAI Logistics Santova Logistics Seabourne Shenzhen United States Heathrow Los Angeles Milton
Slide 5: Integrated supply chain solutions
INTEGRATED SUPPLY CHAIN SOLUTIONS How do we get to target total cost benefit - the ability to differentiate Supply Chain Engineering ‘Partnership’ • Strategic Knowledge & Idea Sharing • Integrated Processes • Shared-Risk Models • Total Landed Price “mindset” Lead Logistics Provider • Active Leadersh
Slide 6: An interesting trading environment to overcome
AN INTERESTING TRADING ENVIRONMENT TO OVERCOME • A challenging global environment, industry is now intertwined with the economics, politics and the environmental state of the world. • Much like the previous financial year, interest rates remained relatively high by historic standards, impacting on c
Slide 7: Regional performances
REGIONAL PERFORMANCES LOGISTICS SERVICES Asia United North Africa Europe Total GEOGRAPHICAL Pacific Kingdom America R'000 R'00 R'000 CONTRIBUTIONS R'000 R'000 R'000 Profit/(Loss) for the year United Kingdom 2025 R70 007 R23 795 R29 422 R36 110 -R7 256 R152 078 2024 R50 851 R11 069 R50 569 R38 747 -R
Slide 8: Global trade analysis
GLOBAL TRADE ANALYSIS ROAD North North America America
Slide 9: Client & transaction analysis
CLIENT & TRANSACTION ANALYSIS March 2024 – February 2025 Due to a transfer of data/change of systems, North America has not been included.
Slide 10: New client revenue by region
NEW CLIENT REVENUE BY REGION March 2024 – February 2025 New clients provide a hedge in economic slowdowns and serve as a significant ‘booster’ in economic upturns
Slide 11: Global client distribution
GLOBAL CLIENT DISTRIBUTION Mar 2024 – Feb 2025
Slide 12: Our new normal
OUR NEW NORMAL Risks are rapidly evolving and becoming more frequent with time 10 years – one event 3 years – 3 events every 2 years every year Source: Xeneta, The Biggest Global Supply Chain Risks of 2025, 28 March 2025
Slide 13: Performance of industry icons
PERFORMANCE OF INDUSTRY ICONS 1 Year 2 Years 3 Years % Growth % Growth % Growth Company Year end Measurement Currency 2021 2022 2023 2024 24 vs 23 24 vs 22 24 vs 21 Santova Feb 25 Earnings before tax R '000 224,000 280,642 204,956 201,348 -1.76% -28.25% -10.11% Basic earnings per share 1.23 1.55 1.1
Slide 14: Noticeable key trends and continuing challenges
NOTICEABLE KEY TRENDS AND CONTINUING CHALLENGES • The rise of e-commerce and ‘small packages’ continues to gather momentum. Revenue in the e-commerce worldwide market is projected to reach US$4.32tn in 2025 and is expected to show an annual growth rate (CAGR 2025-2029) of 8.02%, resulting in a proje
Slide 15: Recent acquisition: further diversification, enhanced capabilities
RECENT ACQUISITION: FURTHER DIVERSIFICATION, ENHANCED CAPABILITIES • As the Group evolves and the take-on of larger more complicated supply chains of multinational clients becomes more frequent, the ability to leverage off strategically located fulfilment centres and technologies will be key if Sant
Slide 16: Africa
AFRICA • South African (“SA”) gross domestic product increased by 0,6% in 2024, following the increase of 0,7% in 2023. In real terms, households spent 2,3% more in the fourth quarter of 2024 compared with the fourth quarter of 2023. This is supported by the reported R16,4 billion drawdown in invent
Slide 17: Asia Pacific
ASIA PACIFIC • Challenging period. With the slowdown in China and relatively low inter-regional shipping rates, there has been pressure on margins. • Strategic location for the Group. With the re-alignment of the economic world order, inter-regional trade and nearshoring gathers momentum. • Strong i
Slide 18: Asia Pacific (continued)
ASIA PACIFIC (continued) The Asia Pacific region, comprising Singapore, Australia, Hong Kong and Vietnam increased NPAT by 108,3% to R23,8 million (2024: R11,4 million). • AU had a difficult first quarter, however, rebounded nicely to end the year positively with revenue only slightly lower YoY in A
Slide 19: United Kingdom
UNITED KINGDOM • The UK economy recovered somewhat from 2023 and showed initial strong growth in the first six months of 2024. However, this was followed by a slowdown in the third and fourth quarter, ultimately resulting in the year ending in a modest overall increase in gross domestic product. • N
Slide 20: United Kingdom (continued)
UNITED KINGDOM (continued) The United Kingdom saw a decline in NPAT by 41,8% to R29,4 million (2024: R50,6 million). • Tradeway (Shipping), which specialises in the export of recycled products, including second-hand textiles to the Middle East and Africa, was disproportionately affected by the Red S
Slide 21: Europe
EUROPE Eurozone characterised by ‘sluggish’ trade volumes over the last few years. This has been the result of lower levels of domestic consumption, inventory adjustments and continued overcapacity. • Whilst the Eurozone grew by 0,8% in 2024, Europe's largest economy, Germany, experienced economic s
Slide 22: North America
NORTH AMERICA We are pleased to report that we have finally sourced and appointed a Managing Director and numerous skilled and experienced staff that are aligned to our values and culture. • Whilst the regulatory environment and availability of quality human resources proved to be more than a challe
Slide 23: Outlook
OUTLOOK • The new norm will continue – an unstable and unpredictable year. • The ‘radical’ amendments to global tariff policies, the targeting Chinese imports, are poised to reshape international trade or global economies, and a potential rising trade barriers and protectionism – ‘reverse globalizat
Slide 24: A resilient and strategically well aligned business model
A RESILIENT AND STRATEGICALLY WELL ALIGNED BUSINESS MODEL • The Group is in a very strong financial position which bodes well for another acquisition should another solid opportunity present itself. • With smart investments in quality people, digital infrastructure, strategic mergers and a focus on
Slide 25: We need to be strategically alert to shifting global economies
WE NEED TO BE STRATEGICALLY ALERT TO SHIFTING GLOBAL ECONOMIES • The ASEAN, 10 member states in Southeast Asia, may increase trade with China and the rest of the Asia Pacific region. These countries are benefiting as production shifts to this region because of the trade tensions between the US and C
Slide 26: Zones of growing importance
Potential change in total goods traded by region (2023 vs. 2033) World Trade Organisation ⁵ ZONES OF GROWING IMPORTANCE The BRICS bloc • Comprising Brazil, Russia, India, China and South Africa—has expanded its membership to include countries such as Egypt, Ethiopia, Iran and the United Arab Emirate
Slide 27: Our focus going forward
OUR FOCUS GOING FORWARD • Return on investments. Capital allocation and strategic planning is now critical to limit risk and seize opportunities. We need to evaluate the profitability of our geographies versus others, to determine which region represents the Group’s most efficient use of capital. •
Slide 28: Financial Results
FINANCIAL RESULTS for the period ended 28th February 2025
Slide 29: 2025 in perspective
2025 IN PERSPECTIVE Key highlights: Revenue and net interest income decreased 1.2% to R630.4mil Net profit after tax increased 0,5% to R148.1mil Offshore revenue decreased to 69.9% Billings margin decreased by 0.9% to 10.6% HEPS decreased 6.9% to 115.26 cps Tangible NAV increased 15.4% t
Slide 30: 2025 Statement of profit or loss: analysis
2025 STATEMENT OF PROFIT OR LOSS: ANALYSIS 2025 2024 Move R'000 R'000 % BILLINGS 5,974,736 5,543,544 7.8% Increase in freight rates. Primarily due to the decrease in logistics revenue in the UK (11,6%), partially REVENUE 609,230 617,728 (1.4)% offset by increases in Africa (5,0%), Asia Pacific (6,7%
Slide 31: 2025 Operating context: forex
2025 OPERATING CONTEXT: FOREX 2025 2024 Movement Weighted R'000 R'000 % average Mvmt AVERAGE EXCHANGE RATES Primary Operating Currencies Euro EUR 19.62 20.22 (3.0)% (1.2)% Pound Sterling GBP 23.27 23.37 (0.4)% (0.1)% US Dollar USD 18.27 18.67 (2.1)% 0.2% Strengthening Rand against major operating Au
Slide 32: 2025 Statement of financial position analysis
2025 STATEMENT OF FINANCIAL POSITION ANALYSIS: ANALYSIS 2025 2024 Move R'000 R'000 % Cash and cash equivalents 486,186 477,206 2% Strong cash position with 93.4% of cash held offshore. Current tax assets 741 2,219 (67)% Deferred tax assets 7,105 8,800 (19)% Reversal of provisions/accruals. Financial
Slide 33: 2025 Financial ratios
2025 FINANCIAL RATIOS 2025 2024 Move R'000 R'000 % Increase in freight rates and Red Sea surcharges increasing recoverable - Billings/revenue margin 10.6% 11.5% (0.9)% disbursements/billings and decreasing margin. Improvement relates to the goodwill impairment processed in the prior year. Operating
Slide 34: 2025 Trade receivables: credit quality analysis
2025 TRADE RECEIVABLES: CREDIT QUALITY ANALYSIS 2025 2024 Movement R'000 R'000 % Trade receivables 655,081 635,146 3.1% - South Africa 391,348 403,388 (3.0)% Lower volumes in Jan/Feb. - Offshore 263,733 231,758 13.8% Extended credit terms for some clients in the UK due to the Red Sea crisis. Key rat
Slide 35: 2025 Cashflow analysis
2025 CASHFLOW ANALYSIS 2025 R'mil CASH ON HAND 9.0 - 2025 486.2 - 2024 477.2 ANALYSIS OF MAJOR CASH FLOW MOVEMENTS 9.0 Net cash from operating activities 84.5 Cash generation excludes SA where this is utilised to service the ID facility. Acquisition of PPE and development of intangibles (8.1) Fit-ou
Slide 36: Seabourne: Analysis of impact on Statement of Profit or Loss
SEABOURNE: Analysis of impact on Statement of Profit or Loss (“SPL”) (This information is provided for indicative purposes based on historical information and should not be used as a forecast) 1 2 Transaction Santova Seabourne Consolidated costs R'000 R'000 R'000 R'000 Seabourne has a mix of freight
Slide 37: Thank you
The Social and Environmental Thank you Report 2025 Santova’s unique diversification and advanced technological capabilities This report should be read in conjunction with the Annual Integrated enables it to simultaneously hedge and capitalise on challenging trading Report and the Annual Financial St