Zambeef Products Plc · LSE:ZAM
Zambeef Products — FY2025 Earnings Presentation
20 slides from Zambeef Products's earnings presentation, 2025
Slide 1: Results Presentation for the year ended 30 September 2025
Results Presentation for the year ended 30 September 2025
Slide 2: Table Of Contents
Table Of Contents Zambeef at a Glance 3 Key Highlights and milestones 4 Operating Environment 5 Macro-Economic Highlights 6 Key Measures of Performance 7 Financial Highlights 8 Financial Overview 9-12 Divisional Highlights 13 Divisional Reviews 14-17 Strategic and Operational Highlights 18-19 Britis
Slide 3: Zambeef at a glance
Zambeef at a glance Zambeef Brands A robust business model of vertical integration Cropping One of the largest row cropping operations in Zambia; Double cropping of irrigated land means Zambeef plants 22,399 ha p.a Stockfeed The leading stockfeed producer in Zambia, operating two feed mills, in Lusa
Slide 4: Key Highlights and milestones during the year
Key Highlights and milestones during the year ▪ Established to bridge upstream wheat farming and downstream food processing, strengthening Zambia’s food security. Mpongwe Wheat ▪ Fully integrated into Zambeef’s farm-to-table value chain, linking Mpongwe wheat farms, bakeries, and customers nationwid
Slide 5: Operating Environment – Change to FY
Operating Environment – Change to FY ECONOMY INPUTS PRODUCTS ZMW / USD Standard Beef (K) Beef (All) 11% Q4-25: 23.4 57% Q4-25: 60.86 /Kg 28% Q4-25: K80.7/Kg Q4-24: 26.2 Q4-24: 38.83 /Kg Q4-24: K63.2 /Kg Inflation Poultry Outgrower Whole Chicken (K) (K) 22% 290 Q4-25: 12.6% 9% Q4-25: K61.2 /Kg Q4-25:
Slide 6: Macro-Economic Highlights
Macro-Economic Highlights Fluctuating Currency, Rapid Inflation and Load shedding woes Total vs Food Inflation (Oct 2024 - Sept 2025) USD Mid Rate (ZMW) Total Inflation Food Inflation Avg 15.24% Avg 17.79% USD Mid Rate (ZMW) 30.00 20.60% 18.70% Inflation (%) 18.60% 18.20% 26.28 16.70% ZMW 14.90% 16.
Slide 7: Key Measures of Performance
Key Measures of Performance Sustaining growth metrics and potential Capital Employed Daily Revenue Dairy Revenue (K'000s) (K'000s) 22,138.14 refers to average Capital Employed ROCE 7,474,985 revenue per day 20,043.41 6.7% 7.0% 16,610.32 5,684,075 14,820.77 13,665.80 5.1% 4,359,087 4,141,742 5.4% 5,9
Slide 8: Financial Highlights
Financial Highlights Resilience during macro-economic headwinds ZMW ‘000 USD ‘000 +10% +3% Revenue • Revenue grew 10%, driven by both higher volumes and improved pricing 8,058,283 302,602 295,113 7,315,845 across Beef, Dairy, Retail, Cropping, and Stockfeed segments. • Growth was supported by strong
Slide 9: Financial Overview – Income Statement
Financial Overview – Income Statement FY- 2025 FY- 2024 FY- 2025 FY- 2024 ZMW'000 ZMW'000 %∆ USD'000 USD'000 %∆ Revenue 8,058,283 7,315,845 10% 302,602 295,113 3% Change in fair value of biological assets 1,102,125 1,005,832 10% 41,387 40,574 2% Cost of sales (6,234,772) (5,846,559) -7% (234,126) (2
Slide 10: Abridged Balance Sheet
Abridged Balance Sheet FY-2025 FY-2024 FY-2025 FY-2024 ZMW'000s ZMW'000s USD '000s USD '000s Non – current assets 7,204,442 5,746,252 301,315 216,514 Current assets 3,039,239 3,066,246 127,112 115,533 Total assets 10,243,681 8,812,498 428,427 332,047 Capital and reserves 6,383,410 4,957,940 266,977
Slide 11: Cashflow statement
Cashflow statement 2025 2024 2025 2024 K’000 K’000 $’000 $’000 Cash generated from operations 731,693 556,222 27,476 22,437 Interest paid on borrowings (258,691) (211,132) (9,714) (8,517) Interest paid on bank overdrafts (173,093) (118,669) (6,500) (4,787) Interest paid on leases (4,079) (3,437) (15
Slide 12: Debt Analysis
Debt Analysis F Y -2025 F Y -2024 Highlights ZMW'000 ZMW'000 % ❑ Debt levels remained flat in Kwacha terms. B orrowings - S hort term 1,583,870 1,525,671 3.81% F inance leas e - S hort term 11,698 8,578 36.37% ❑ The increase in dollar debt levels is primarily due to the B orrowings - L ong term 789,
Slide 13: Divisional Highlights (ZMW’000)
Divisional Highlights (ZMW’000) Cropping & Milling Retailing and Cold Chain Food Products Revenue +8.7% +29.3% 5,298,304 4,875,996 6,915,080 5,349,141 FY-25 FY-24 FY-25 FY-24 Comments ▪ Retail and Cold Chain Food Products: The division recorded solid profit growth for the year, supported by increase
Slide 14: Group Gross Profit Analysis (ZMW’000)
Group Gross Profit Analysis (ZMW’000) GP Growth Retailing & Food Production 23% Retailing & Retailing & Cropping & Milling 14% Food Food Production Production 1,441,464 1,172,392 49% 47% Gross Profit Gross Profit FY 2025 FY 2024 2,925,636 2,475,116 Cropping & Cropping & Milling Milling 1,484,171 1,3
Slide 15: Group Gross Profit Analysis (USD’000)
Group Gross Profit Analysis (USD’000) GP Growth Retailing & Retailing & Retailing & Cold chain Food Products 14% Food Food Cropping & Milling 6% Production, Production 47,293, 54,129 47% 49% Gross Profit Gross Profit FY 2025 FY 2024 109,862 99,843 Cropping & Cropping Milling & Milling, 55,733 52,550
Slide 16: Divisional Review - Retailing & Food Production
Divisional Review - Retailing & Food Production FY-25 FY-24 FY-25 FY-24 ZMW'000 ZMW'000 USD'000 USD'000 Revenue 5,570,332 4,790,959 16.27% 209,175 193,262 8.23% Gross Profit 1,441,464 1,172,392 22.95% 54,129 47,293 14.46% Overheads (1,337,396) (1,085,276) -23.23% (50,221) (43,779) -14.72% Operating
Slide 17: Divisional Review - Cropping & Milling
Divisional Review - Cropping & Milling FY-25 FY-24 FY-25 FY-24 ZMW'000 ZMW'000 USD'000 USD'000 Revenue 2,487,951 2,524,886 -1.46% 93,427 101,851 -8.27% Gross Profit 1,484,171 1,302,724 13.93% 55,733 52,550 6.06% Overheads -922,397 -868,278 6.23% -34,638 -35,025 1.11% Operating Profit 561,774 434,447
Slide 18: Strategic and Operational Highlights
Strategic and Operational Highlights Focus and strengthen our core business by investing in capacity and grow market share Our strategic focus remains to optimise our existing asset utilisation, maximise return and drive profitability. We remain committed to our strategy of focussing on our core bus
Slide 19: Expansion Capex Spend FY2022 - FY2025
Expansion Capex Spend FY2022 - FY2025 Division Description Spend ZMW Spend USD Stockfeed Novatek Lusaka Efficiency Upgrade 10,207,367 434,163 Beef Beef processing Upgrade 14,566,335 619,569 Beef Feedlot upgrade and biosecurity controls 29,387,201 1,249,964 Masterpork Pork Processing Upgrade 30,705,7
Slide 20: British International Investments PLC (BII)
British International Investments PLC (BII) In 2016 British International Investment plc ("BII"), formally CDC Group Plc, acquired 52.6 million ordinary shares and 100,057,658 convertible redeemable preference shares ("Preference Shares") in Zambeef Products plc. The details of the transaction are a