Cashbuild Limited · JSE:CSB
Cashbuild — H1 2025 Earnings Presentation
32 slides from Cashbuild's earnings presentation, February 2025
Slide 1: Interim Results Presentation
INTERIM RESULTS PRESENTATION for the six months ended 29 December 2024
Slide 2: Nature of Business
1 Nature of Business Mass retailer of Offers a focused building materials, range of quality home improvement products at and related products competitive prices 318 stores through Selling the Cashbuild and predominantly P&L Hardware for cash brands
Slide 3: Financial Key Statistics
2 Financial Key Statistics Statutory period-on-period Revenue Operating profit Headline earnings per share Net asset value per share (excl impairments) R6.1bn R174m 573 cents R79.11 7% 5% 4% 2% Rand Rbn Cents 8 700 1800 110 Rm 7 1600 100 600 1400 90 6 500 80 1200 5 70 400 1000 60 4 800 50 300 3 40 6
Slide 4: Financial Review
01 FINANCIAL REVIEW
Slide 5: Income Statement
4 Income Statement Statutory period-on-period Reviewed Reviewed 29 Dec 2024 24 Dec 2023 R’m (26 Weeks) (26 Weeks) % variance Revenue 6 093 5 789 5 Gross profit 1 481 1 431 3 Gross profit % 24.3 24.7 Operating expenses (1 308) (1 381) (5) Operating expenses % 21.5 23.9 Operating profit 174 50 >100 Op
Slide 6: Operating expenses
5 Operating expenses Existing stores# % of % of 29 Dec 24 Dec % variance R’m revenue total 2024 2023 % variance Dec 2024 Total 21.5 100.0 1 308 1 381 (5) (6) Goodwill and trademark impairments 1 - - - (137) Total excluding impairments 21.5 100.0 1 308 1 244 5 5 Main contributors: People 2 9.4 43.7 5
Slide 7: Customer Transactions
6 Customer Transactions ‘000 All stores Growth: Q1: 3% Q2: 8% 2 000 1 800 1 600 1 400 1 200 1 000 Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun FY2023 FY2024 (Incl W53) FY2024 FY2025 • Various marketing activities to attract new customers • Aggressive pricing strategy FY2024 & FY2023 smoothed for
Slide 8: Average Basket Size
7 Average Basket Size Rand All Stores Growth Q1: 2% Q2: (2%) 780 760 740 720 700 680 660 640 620 Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun FY2023 FY2024 FY2025 FY2024 & FY2023 smoothed for comparative 5 weeks and 4 weeks
Slide 9: Segmental Disclosure
8 Segmental Disclosure Cashbuild P&L Hardware Cashbuild Namibia, Cashbuild Botswana and Total Group South Africa South Africa Lesotho and eSwatini Malawi 29 Dec 24 Dec 29 Dec 24 Dec 29 Dec 24 Dec 29 Dec 24 Dec 29 Dec 24 Dec R’m % % % % % 2024 2023 2024 2023 2024 2023 2024 2023 2024 2023 Revenue 5 03
Slide 10: Gross Profit and Operating Profit Margin
9 Gross Profit and Operating Profit Margin Excluding intangible impairments 28% 12% 27% 27.4% 26.6% 10% 26% 26.4% 26.0% 25.5% 25% 25.3% 8.6% 8% 8.4% 24.8% 24.7% 24% 24.3% 23% 6% 22% 4.6% 4% 21% * 20% 3.2% 2.9% 2% 19% 18% 0% FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 1HY 2HY HY Operating profit margin *
Slide 11: Headline Earnings per Share (HEPS) and Dividend per Share (DPS)
Headline Earnings per Share (HEPS) and 10 Dividend per Share (DPS) Period-on-period 1800 1600 1 541 1400 1200 1 130 1000 Cents 800 724 694 587 552 573 600 400 4% 400 325 326 200 0% 0 HY 2021 HY 2022 HY 2023 HY 2024 HY 2025 HEPS DPS Dividend cover policy maintained at 1.5 times Cashbuild Empowerment
Slide 12: Statement of Financial Position
11 Statement of Financial Position Statutory Reviewed Reviewed Audited R’m 29 Dec 2024 24 Dec 2023 % variance 30 Jun 2024 Assets Property, plant and equipment 1 234 1 218 1 1 238 Right-of-Use assets 983 1 111 (12) 1 036 Intangible assets 127 135 (6) 124 Inventories 2 027 2 046 (1) 1 787 Trade and ot
Slide 13: Cash Flow
12 Cash Flow R’million 2700 Working capital inflow R834m (>100%) 2500 2300 (50%) 1 089 6 51 16 101 (75%) 138 2100 (34%) (72%) 74% (5%) 10 1 909 14% 1900 859* 25% 13% 1700 >100% 1500 398 240 1300 (31%) 15 230 (4%) 1100 999 (62%) >100% 900 700 June Cash Inventory Debtors Creditors Net Dividends Taxati
Slide 14: Product Categories
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Slide 15: Group Sales per Week
14 Group Sales per Week R’million Q1 Q2 Q3 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 FY2023 FY2024 FY2025
Slide 16: Cement Sales
15 Cement Sales Pockets Q1 Q2 Q3 Sales Mix % 700 600 500 400 300 200 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 FY2023 FY2024 FY2025
Slide 17: Cement Unit Sales
16 Cement Unit Sales Per Supplier Dec 2023 Jun 2024 Dec 2024 10% 7% 10% 8% 9% 9% 4% 5% 5% 6% 6% 6% 2% 27% 27% 4% 3% 30% 27% 26% 26% 15% 15% 13% AFRISAM PPC AFRIMAT NPC SEPHAKU MAMBA CEMZA OTHER
Slide 18: Total Timber Sales
17 Total Timber Sales R’million Q1 Q2 Q3 Sales Mix: […]% 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 FY2023 FY2024 FY2025
Slide 19: Total Brick Sales
18 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 FY2023 FY2024 FY2025
Slide 20: Total Roof Sales
19 Total Roof Sales R’million Q1 Q2 Q3 Sales Mix: […]% 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 FY2023 FY2024 FY2025
Slide 21: Total Opening Sales
20 Total Opening Sales R’million Q1 Q2 Q3 Sales Mix: […]% 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 FY2023 FY2024 FY2025
Slide 22: Total Decorative Sales
21 Total Decorative Sales R’million Q1 Q2 Q3 Sales Mix: […]% 70 60 50 40 30 20 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 FY2023 FY2024 FY2025
Slide 23: Store Development and Summary
03 STORE DEVELOPMENT AND SUMMARY
Slide 24: Competitor Landscape
23 Competitor Landscape Corporate Competitors c. R40 billion market Owned by Independent Competitors c. R40 billion market
Slide 25: Sales by Province
24 Sales by Province 1400 3.7% 1200 9.0% 1000 7.4% 3.3% 800 (1.5%) 600 11.5% 5.0% 400 4.6% 5.6% 2.7% 200 67 68 65 67 42 44 38 38 29 29 26 24 19 19 15 15 7 7 10 10 0 Gauteng Limpopo Mpumalanga Eastern Cape Countries KwaZulu-Natal North-West Free State Northern Cape Western Cape Period-on-period sales
Slide 26: Stores by Location
25 Stores by Location Number of stores Dec 2024 (Dec 2023) 86 (87) Location Town Rural Township Metro Countries 21 (22) 29 (29) Sales Growth 4.9% 10.1% 5.9% (2.1%) (1.5%) 87 (89) Existing Growth 2.9% 9.7% 5.8% (2.1%) (1.5%) 95 (94)
Slide 27: Store Development
26 Store Development Total Group Stores Brand representation Group Refits, Relocations and Conversions 319 318 318 322 318 34 22 21 23 1 39 10 4 6 6 3 19 7 16 20 20 15 14 309 314 312 316 315 6 3 278 June June June June Dec June June June June Dec 2021 2022 2023 2024 2024 2021 2022 2023 2024 2024 Exi
Slide 28: New Stores HY2025
27 New Stores HY2025 Malawi Cashbuild Cabifit Botswana Limpopo KwaZulu-Natal Namibia ▪ Mehlareng Mall ▪ Pomeroy (SMS) eSwatini Lesotho South Africa South Africa Gauteng ▪ Hammanskraal SMS – Small Model Stores
Slide 29: New Store Formats
28 New Store Formats 2 New pilot store formats opened: • Cut, edge and drill shop as well as associated products focused on contractors and cabinet makers • Existing larger Cashbuild stores offering an extended range and new product categories
Slide 30: Summary
29 Summary Cashbuild Group remains one of southern Africa’s leading retailers of Market sentiment more quality building optimistic than a year Zakhelikhaya project TM materials, associated ago gaining momentum products & services Growth 1st 7 Weeks 2H2025: 6% through the Cashbuild and P&L Launched C
Slide 31: Thank You
30 THANK YOU For your attendance and participation www.cashbuild.co.za +27 11 248 1500 Werner de Jager Chief Executive Officer Hanré Bester Chief Financial Officer For any further Investor Relations questions please contact: Keyter Rech Investor Solutions Shane Thoresson Marlize Keyter mkeyter@kris.
Slide 32: Disclaimer
31 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 Lim