Cashbuild Limited · JSE:CSB

Cashbuild — H1 2023 Earnings Presentation

24 slides from Cashbuild's earnings presentation, 2023

  1. Slide 1: Results presentation for the six months ended 25 December 2022

    Results presentation for the six months ended 25 December 2022 2023

  2. Slide 2: Contents

    Contents 1 FINANCIAL REVIEW 5 2 PRODUCT CATEGORIES 16 STORE DEVELOPMENT 3 AND SUMMARY 25 4 INTERIM RESULTS 33 CORPORATE 5 INFORMATIONIBC

  3. Slide 3: Disclaimer

    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 Limite

  4. Slide 4: Financial Key Statistics - Statutory

    Financial Key Statistics - Statutory Revenue Operating profit Headline earnings Net asset value per share R5.6bn R262m R156m R92.66 4% 47% 39% 8 400 1% Rbn Rm 700 100 Rand Rm 7 600 6 300 500 5 90 400 4 200 300 3 80 2 200 100 1 100 0 0 0 70 HY19 HY20 HY21 HY22 HY23 HY19 HY20 HY21 HY22 HY23 HY19 HY20

  5. Slide 5: Financial review

    01 Financial review CASHBUILD RESULTS PRESENTATION FOR THE SIX MONTHS ENDED 25 DECEMBER 2022 5

  6. Slide 6: Income Statement and Revenue Breakdown

    Income Statement Statutory period-on-period Reviewed Reviewed 25 Dec 2022 26 Dec 2021 R’m (26 Weeks) (26 Weeks) % variance Revenue 5 649 5 889 (4) Gross profit 1 431 1 564 (9) Gross profit % 25.3 26.6 Operating expenses (1 169) (1 072) 9 Operating expenses % 20.7 18.2 Operating profit 262 492 (47) O

  7. Slide 7: Customer Transactions and Average Basket Size

    Customer Transactions ‘000 All stores Growth: Q1: (7%) Q2: (7%) 2 200 2 000 1 800 1 600 1 400 1 200 1 000 800 Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Existing stores Growth: Q1: (8%) Q2: (8%) 2 200 2 000 1 800 1 600 1 400 1 200 1 000 800 Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun 8 FY20

  8. Slide 8: Gross Profit and EBIT Margin; Segmental Disclosure

    Gross Profit and EBIT Margin 28% 10% 27% 27,4% 9% 26,6% 26% 26,4% 8,6% 8,4% 26,0% 8% 25% 25,3% 25,1% 25,2% 25,2% 24,8% 7% 24% 23% 6% 22% 5,4% 5% 5,1% 21% 4,6% 4% 20% 3% 19% 18% 2% FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 1HY 2HY HY EBIT margin 10 NOTES Segmental Disclosure Cashbuild P&L Hardware Cash

  9. Slide 9: Operating Expenses; EPS and DPS

    Operating Expenses 3-year compound Existing % variance stores# % of % of Dec 2019 % variance R’m revenue total Dec 2022 Dec 2021 % variance (Pre-Covid) June 2022 Total 20.7 1 169 1 072 9 3 7 Main Contributors: People 9.3 45.2 528 543 (3) 4 (4) Advertising 1.7 8.1 95 79 21 - 19 Delivery 1.3 6.3 73 71

  10. Slide 10: Statement of Financial Position and Cash Flow

    Statutory Statement of Financial Position Reviewed Reviewed Audited R’m 25 Dec 2022 26 Dec 2021 % variance 26 June 2022 Assets Property, plant and equipment 1 284 1 226 5 1 266 Right-of-Use assets 1 132 1 224 (8) 1 177 Intangible assets 426 424 - 425 Inventories 1 860 1 819 2 1 520 Trade and other r

  11. Slide 11: Product categories

    02 Product categories CASHBUILD RESULTS PRESENTATION FOR THE SIX MONTHS ENDED 25 DECEMBER 2022 16

  12. Slide 12: Group Sales per Week and Cement Sales

    Group Sales per Week R’million Q1 Q2 Q3 Growth 310 270 230 190 150 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 FY2021 FY2022 FY2023 17 NOTES Cement Sales Pockets Q1 Q2 Q3 800 700 600 500 400 300 W1 W3 W5 W7 W9 W11 W13 W15 W17 W19 W21 W23 W25 W27

  13. Slide 13: Cement Unit Sales and Total Timber Sales

    Cement Unit Sales Per Supplier Dec 2021 Jun 2022 Dec 2022 5% 5% 6% 4% 12% 4% 12% 4% 14% 5% 5% 6% 9% 8% 6% 29% 28% 26% 20% 21% 25% 16% 17% 13% AFRISAM PPC LAFARGE NPC SEPHAKU MAMBA CEMZA OTHER 19 NOTES Total Timber Sales R’million Q1 Q2 Q3 23 21 19 17 15 13 11 9 W1 W3 W5 W7 W9 W11 W13 W15 W17 W19 W21

  14. Slide 14: Total Brick Sales and Total Roof Covering Sales

    Total Brick Sales R’million Q1 Q2 Q3 19 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 FY2021 FY2022 FY2023 21 NOTES Total Roof Covering Sales R’million Q1 Q2 Q3 29 25 21 17 13 W1 W3 W5 W7 W9 W11 W13 W15 W17 W19 W21 W23 W25 W27 W29

  15. Slide 15: Total Opening Sales and Total Decorative Sales

    Total Opening Sales R’million Q1 Q2 Q3 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 FY2021 FY2022 FY2023 23 NOTES Total Decorative Sales R’million Q1 Q2 Q3 50 40 30 20 W1 W3 W5 W7 W9 W11 W13 W15 W17 W19 W21 W23 W25 W27 W29

  16. Slide 16: Notes

    NOTES CASHBUILD RESULTS PRESENTATION FOR THE SIX MONTHS ENDED 25 DECEMBER 2022

  17. Slide 17: Store development and summary

    03 Store development and summary CASHBUILD RESULTS PRESENTATION FOR THE SIX MONTHS ENDED 25 DECEMBER 2022 25

  18. Slide 18: Store Development and New Stores HY2023

    Store Development Total Cashbuild Stores Total P&L Hardware Stores Group Refit and Relocations 256 257 264 264 263 59 61 55 54 53 30 16 34 22 9 4 3 3 8 2 1 9 12 19 6 16 247 249 255 260 260 57 58 54 54 53 18 10 15 6 14 June June June June Dec June June June June Dec June June June June Dec 2019 2020

  19. Slide 19: Stores by Location and Sales by Province

    Stores by Location Number of stores Dec 2022 (Dec 2021) Location Town- Town Rural Metro (% of total) ship 86 (86) 2022 Stores 32% 32% 27% 9% 99 (97) 29 (29) 2022 Sales 36% 28% 25% 11% 2021 Stores 33% 31% 27% 9% 102 (105) 2021 Sales 37% 29% 22% 12% 28 NOTES Sales by Province 1200 6.7% (6.5%) 1000 (7.

  20. Slide 20: Competitor Landscape and Summary

    Competitor Landscape Corporate Competitors c. R50 billion market Owned by Independent Competitors c. R30 billion market 30 NOTES Summary Sales are expected to remain All our stores have generators, under pressure as trading and battery power or solar economic conditions continue installations, howev

  21. Slide 21: Thank You

    THANK YOU Werner de Jager FOR YOUR ATTENDANCE Chief Executive Officer AND PARTICIPATION Etienne Prowse Chief Financial Officer WWW.CASHBUILD.CO.ZA +27 11 248 1500 Shane Thoresson Operations Director For any further Investor Relations questions please contact: Keyter Rech Investor Solutions Marlize K

  22. Slide 22: Interim results

    Interim results 2023 Interim Results and Dividend Declaration for the six months ended 25 December 2022 Revenue Headline earnings Net asset value per share Dividend (4%) (39%) 1% (32%) R5.6 BILLION R156 MILLION 9 266 CENTS 400 CENTS COMPANY PROFILE Cash and cash equivalents decreased by 8% to Cashbu

  23. Slide 23: Corporate information

    Corporate information Cashbuild Limited (Incorporated in the Republic of South Africa) Registration number: 1986/001503/06 ISIN: ZAE000028320 Cashbuild JSE code: CSB Directors AGW Knock* (British) (Chairman) W de Jager (Chief Executive Officer) M Bosman (Mr)* M Bosman (Ms)* Dr DSS Lushaba* AJ Mokgwa

  24. Slide 24: Slide 24

Cashbuild — H1 2023 Earnings Presentation on 6ix