Calgro M3 Holdings Limited · JSE:CGR
Calgro M3 — FY2025 Earnings Presentation
38 slides from Calgro M3's earnings presentation, May 2025
Slide 1: Annual Financial Results
ANNUAL FINANCIAL RESULTS For the year ended 28 February 2025
Slide 2: Agenda
AGENDA The future Underlying Year under Financial business The future Appendix review review performance Appendix
Slide 3: Year Under Review
1 YEAR UNDER REVIEW Belhar
Slide 4: Core Message #sustainablegrowth
CORE MESSAGE Achieving record gross margins through unlocking historical land After achieving outstanding value whilst focusing on financial results, we are ready to infrastructure installation, leverage our insights and drive #sustainablegrowth enhancing the Group’s pipeline. product sales into wel
Slide 5: Key Metrics
KEY METRICS STRATEGIC RESILIENCE FINANCIAL METRICS OPERATIONAL METRICS 0.63 0.65 Well, positioned for future 29.43% Gross profit margin, outside 36,136 total 117,471 #sustainablegrowth target range, unlocking opportunities in total historic investment during Residential opportunities in negative int
Slide 6: Consistent Implementation
CONSISTENT IMPLEMENTATION 5 4 3 2 Ensure liquidity #sustainablegrowth 1 Grow market share The Fleurhof project honed our skills as Increase open market • Prioritising liquidating a leader in the integrated housing. We and sales through product non-core assets will continue to challenge our approach
Slide 7: Environmental, Social and Governance
ENVIRONMENTAL, SOCIAL AND GOVERNANCE Annual Financial Results for the year ended 28 February 2025 7 Spent down due to decrerase in revenue & therefore activity in
Slide 8: Underlying Business Performance
2 UNDERLYING BUSINESS PERFORMANCE Jabulani Junction
Slide 9: Integrated Residential Developments
INTEGRATED RESIDENTIAL DEVELOPMENTS The markets served are broad, ranging from fully subsidised to bonded homes, which allows us to adapt and reposition construction activities amongst market segments in response to economic shifts South Hills Integrated Housing Development Fleurhof Integrated Housi
Slide 10: Integrated Residential Property Development | Performance
INTERGRATED RESIDENTIAL PROPERTY DEVELOPMENT | PERFORMANCE • Market demand remains strong in our market segment • Large volume of stock on hand • Focus on open market sales directly to the consumer with average sales price point more palatable to target market • Focus on bulk and link infrastructure
Slide 11: Integrated Residential Property Development | Sustainability
INTERGRATED RESIDENTIAL PROPERTY DEVELOPMENT | SUSTAINABILITY Projects in the ground 9 Under construction 1,543 Revenue pipeline from core Development segment Total Estimated revenue opportunities remaining Projects remaining (R) Fleurhof 6,558 4,698,729,680 Jabulani 1,089 678,842,493 South Hills 5,
Slide 12: Integrated Residential Property Development | Environment
INTERGRATED RESIDENTIAL PROPERTY DEVELOPMENT | ENVIRONMENT • Interest rates trended downward in latter half of 2024 into 2025 • Full impact of home loan affordability expected to materialise by Q3 2025 (nine-months after rate cut cycle commenced) • Significant increase in market demand is anticipate
Slide 13: Integrated Residential Property Development | Bankenveld District City
INTERGRATED RESIDENTIAL PROPERTY DEVELOPMENT | BANKENVELD DISTRICT CITY • Land ownership has transferred to Bankenveld District City JV • The joint venture will install bulk infrastructure • On-site infrastructure services commenced in Q1 2026 • 60% contribution by Calgro M3 for residential portion,
Slide 14: Integrated Residential Property Development | Bankenveld District City
INTERGRATED RESIDENTIAL PROPERTY DEVELOPMENT | BANKENVELD DISTRICT CITY Annual Financial Results for the year ended 28 February 2025 14
Slide 15: Memorial Parks
MEMORIAL PARKS Calgro M3 Memorial Parks are an alternative to traditional cemeteries, adds value to existing developments, introduces an alternative burial option that is dignified, secure and which delivers a service to customers that is superior to other products in the market. Durbanville Fourway
Slide 16: Memorial Parks | Performance
MEMORIAL PARKS| PERFORMANCE • Market demand remains high • Consumer strain addressed through varying product offerings, including lay-bys • Gross profit margin of 50.09% (2024 (restated): 42,45%) due to cost management (target 50%). • Increased sale volumes contributed to improved gross margin being
Slide 17: Memorial Parks | Sustainability
MEMORIAL PARKS| SUSTAINABILITY Cash banked Feb ‘25 R95.5 m Active lay-by sales Feb ‘25 R24.6 m Cash banked Feb ‘24 R68.2 m Active lay-by sales Feb ‘24 R36.4 m Memorial Parks- Revenue pipeline Grave Revenue pipeline quantity remaining Projects remaining (R) Nasrec Memorial Park 26,859 819,718,710 Fou
Slide 18: Where To From Here?
WHERE TO FROM HERE? • Increase in marketing capacity with a focus on bulk sales to reduce stock carried on balance sheet at year-end. • Continue investment in infrastructure on selected developments. • Manage debt to equity – maximum 0.75 :1 • Unlock capacity by trading out end of life developments.
Slide 19: Financial Review
3 FINANCIAL REVIEW Acacia Grove
Slide 20: Statement of Cash Flows
STATEMENT OF CASH FLOWS Audited Audited (R’000) Feb 2025 Feb 2024 Cash generated from operating activities Cash generated from operations 107 900 149 246 Finance income 63 092 56 906 Finance cost (134 105) (111 400) Tax paid (2 660) (3 488) Net cash generated from operating activities 34 228 91 263
Slide 21: Statement of Cash Flows
STATEMENT OF CASH FLOWS Audited Audited (R’000) Feb 2025 Feb 2024 Cash flows advanced / (repaid in) financing activities Proceeds from borrowings 305 000 288 000 Capital repayment of borrowings (158 000) (232 800) Share buy backs - (73 016) Repayment of capital portion of leases (4 868) (2 548) Divi
Slide 22: Segment Revenue Contribution
SEGMENT REVENUE CONTRIBUTION Audited Revenue Audited Feb 2024 (R’000) Feb 2025 (Restated) % change Residential Property Development 800 067 1 242 134 (35,59) Memorial Parks 68 839 48 731 41.26 Total 868 907 1 290 865 (32.69) Audited Combined revenue # Audited Feb 2024 (R’000) Feb 2025 (Restated) % c
Slide 23: Statement of Comprehensive Income
STATEMENT OF COMPREHENSIVE INCOME Audited Audited Feb 2025 Feb 2024 (R’000) (Restated) Revenue 868 907 1 290 865 Gross profit 255 720 351 317 Gross profit % 29.4% 27.2% Administrative expenses (95 478) (98 139) Finance income 64 253 59 800 Finance cost (60 303) (59 524) Share of profit of joint vent
Slide 24: Statement of Financial Position | Assets
STATEMENT OF FINANCIAL POSITION | ASSETS Audited Audited Audited Feb 2025 Feb 2024 Feb 2023 (R’000) (Restated) (Restated) Assets Cash and cash equivalents 154 723 122 638 172 614 Trade and other receivables 82 703 140 410 164 011 Current income tax assets 289 212 362 Construction contracts 1 668 283
Slide 25: Statement of Financial Position | Equity and Liabilities
STATEMENT OF FINANCIAL POSITION| EQUITY AND LIABILITIES Audited Audited Audited Feb 2025 Feb 2024 Feb 2023 (R’000) Restated Restated Stated Capital 33 910 31 610 102 081 Share based payment reserve 486 363 10 455 Retained income 1 396 027 1 241 893* 1 032 389* Non-controlling interest 3 253 665 689
Slide 26: Borrowing Maturities
BORROWING MATURITIES Outstanding capital Rand (R’m) Opening balance 1 March 2024 941.00 New debt 305.00 Debt repaid (158.00) Closing balance 28 Feb 2025 1 088.00 Maturity profile Rand (R’m) FY 2026 301.25 FY 2027 136.75 FY 2028 287.50 FY 2029 277.50 FY 2030 85.00 Grand Views Subsequent to the end of
Slide 27: Covenants
COVENANTS 28 Feb 2025 29 Feb 2024 Net debt to equity ratio 0.65 0.63 Debt service cover ratio 1.38 1.42 Net Debt to Equity Target Date Target By 28 February 2025 0.75: 1 Regulated covenant levels: Maximum allowed net debt: equity ratio for the Group is 1.5 : 1 Minimum allowed DSCR ratio for the Grou
Slide 28: Dividend Declaration
DIVIDEND DECLERATION • Pay dividends annually, calculated at a minimum of 5% of HEPS • Final gross cash dividend of 8.63703 cents per ordinary share declared (2024: 9.49350 cents per ordinary share) Relevant date Last day to trade Monday, 26 May 2025 Commence trading ex-dividend Tuesday, 27 May 2025
Slide 29: The Future
4 THE FUTURE Artist impression- Bankenveld District City
Slide 30: Outlook
OUTLOOK FOCUSSED 1 GROWTH 2 3 POSITIVE MEMORIAL 4 5 PRODUCT 6 MARKET DIVERSIFICATION AND CASH PARKS OFFERING INSIGHT SUSTAINABILITY FLOW CONFIDENCE • Developments • Via both Bankenveld • Forecasting positive • Successfully covered • Our agility to adapt the • Our in-depth segment revenue District Ci
Slide 31: Outlook
OUTLOOK 7 FINANCIAL 8 DIGITAL 9 PROFITABLE 10 CAPITAL STRENGTH INNOVATION OUTLOOK ALLOCATION • Robust balance sheet • We see significant • Unlimited opportunity • Remains front and and liquidity position opportunities for growth due to untapped South centre of all decision with no major capital and
Slide 32: Conclusion
CONCLUSION Balance sheet Ensure is robust, with #sustainablegrowth focused capital Remain adaptive to whilst remaining allocation, the ability market and focused on to invest in consumer demand liquidating stock on infrastructure, and hand and non-core with an exceptionally assets strong pipeline An
Slide 33: Thank You
THANK YOU www.calgrom3.com Investor relations Investor calendar Ben Pierre Malherbe (CEO) 22 May 2025 – Unlock the Stock Email: benpierre@calgrom3.com 2 June 2025 – Dividend payment Sayuri Naicker (FD) 5 June 2025 – Site visit to Memorial Parks and Integrated Residential Developments Email: sayurin@
Slide 34: Thank You
THANK YOU Calgro M3 has acted in good faith and has made every reasonable effort to ensure the accuracy and completeness of the information contained in this presentation, including all information that may be defined as 'forward-looking statements'. Forward-looking statements may be identified by w
Slide 35: Appendix
5 APPENDIX South Hills
Slide 36: Business Model
BUSINESS MODEL RESIDENTIAL PROPERTY DEVELOPMENT MEMORIAL PARKS Scottsdene Nasrec Memorial Park Annual Financial Results for the year ended 28 February 2025 36
Slide 37: Changes to the Board
CHANGES TO THE BOARD Annual Financial Results for the year ended 28 February 2025 37
Slide 38: Board Composition as at 28 February 2025
BOARD COMPOSITION AS AT 28 FEBRUARY 2025 Annual Financial Results for the year ended 28 February 2025 38