Invicta Holdings Limited · JSE:IVT
Invicta — FY2025 Earnings Presentation
60 slides from Invicta's earnings presentation, June 2025
Slide 1: Innovative solutions that empower industries, for a sustainable future
Innovative solutions that empower industries, for a sustainable future
Slide 2: Disclaimer
O Teicta HOLDINGS LIMITED Welcome Disclaimer EEE The information contained in this presentation may differ from the financial information pertaining to the audited financial results of Invicta Holdings Limited (‘Invicta’), as published on SENS in terms of the JSE Listings Requirements. Certain perfo
Slide 3: Table of Contents
Invicta HOLDINGS LIMITED Welcome Table of Contents Welcome & Introduction Page 04 Who We Are Page 05 The Year at a Glance Page 07 Notable Achievements Page 08 Group Financial Overview Page 24 Operational Segment Review Page 54 Key Developments & Transactions Page 57 Prospects & Strategy wwnwinvictah
Slide 4: Who We Are
In tion Who We Are Invicta distributes world leading capital and earthmoving equipment, industrial, automotive and agricultural parts, often exclusively, which we try to ensure are always available and that are overlaid with a technica and service solution We thus differentiate ourselves by adding v
Slide 5: The Year at a Glance
) Twicta HOLDINGS LIMITED Introduction The Year at a Glance Astrong set of operating results presented under tough trading conditions Key transactions resulting in improved capital allocation Continued focus on executing our strategy, driving operational efficiency, and positioning ourselves for sus
Slide 6: The Year at a Glance
1 Invicta HOLDINGS LIMITED + Reduction in borrowing rates Introduction experienced during the year, The Year at positive outlook for further decreases in rates a Glance + Volatility in currencies + Supply chain challenges Vey - including delays at the ports + No loadshedding throughout most of the y
Slide 7: Notable Achievements
i wie HOLDINGS LIMITED Sustainable Operating Profit: Increased sustainable operating profit by 16% to R752 million Introduction Notable Achievements Sustainable Increased sustainable Headline Earnings Per Share attributable to Headline Earnings: — ordinary shareholders by 13% to 553 cents Disposal o
Slide 8: Group Financial Overview
Invicta HOLDINGS LIMITED Group Financial Overview For the Year Ended 31 March 2025 INVICTA HOLDINGS LIMITED | Final Results Presentation for the year ended 31 March 2025
Slide 9: Group Sustainable Operating Profit
1 ° Invicta HOLDINGS LIMITED Group Financial Overview Group Sustainable R'ooo ser 2028 | Mar 2024 Operating Profit Operating profit before net finance income on financing transactions 765 431 630 962 and foreign exchange as reported Deduct: Net profit on disposal of non-core properties (20 494) (5 4
Slide 10: Contribution to Sustainable Headline Earnings
1 Invicta HOLDINGS LIMITED Group Financial Overview R'000 ar 2028 | Mar 2024 Kian Ann Group Equity accounted earnings 365 098 166 707 Contribution to Adjusted for the following net of tax: Sustainable Headline Deduct: Gain from bargain purchase (KMP Far East) (3 035) - Earnings Deduct: Profit on dis
Slide 11: Group Sustainable Headline Earnings
O Teicta HOLDINGS LIMITED Group Financial Overview R'000 sar 2028 | Mar 2024 Group Sustainable Headline Earnings UMM Headline earnings Adjusted for the following net of tax: Add back: Modification loss on dividend receivable from KMP Holdings Limited Add back: Amortisation of Purchase Price Allocati
Slide 12: Group Sustainable Results at a Glance
Invicta HOLDINGS LIMITED Group Financial Overview Group Sustainable Results at a Glance Group Sustainable Operating profit * Sustainable HEPS “ NAV per ordinary share Before net finance income and forex tT 16% 413% T 13% to R752 million to 553 cents to R59.31 * Adjusted sustainable ‘4 Sustainable HE
Slide 13: Statement of Comprehensive Income (Extract)
Invicta HOLDINGS LIMITED Group Financial Overview Statement of Comprehensive Income (Extract) Medd R'000 Revenue Cost of sales Gross profit Selling, administration and distribution costs Operating profit before interest on financing transactions and FX movements Net finance income from financing tra
Slide 14: Statement of Comprehensive Income (Extract)
O Teicta HOLDINGS LIMITED Group Financial Overview Statement of Comprehensive Income (Extract) Ud R'o0o Mar 2023 % Finance income 47 366 48 007 -1% Finance cost (177 097) (165 018) 7% Equity accounted earnings from investment in associates (191) 5702 >100% Equity accounted earnings from investment i
Slide 15: Statement of Financial Position: Assets
i Invicta R'000 er2028 | Mar 2024 HOLDINGS LIMITED Assets . . Property, plant and equipment (incl invest prop) 1160 869 1261095 Group Financial Overview IFRS 16 - Right of use assets 209 179 225 288 Statement of Investments in associates 17394 22051 4 A ae, Investments in joint ventures 1852 285 187
Slide 16: Reconciliation of Carrying Value of Investment in the Kian Ann Group
) Twicta HOLDINGS LIMITED Group Financial Overview Reconciliation of Carrying Value of Investment in the R‘000 Kian Ann Group Investment in Kian Ann balance at 31 March 2024 1843 863 Addi: Share of profit. net of taxation 365 098 Less: Foreign currency translation (45 588) Less: Dividends declared (
Slide 17: Statement of Financial Position: Assets (cont.)
i Invicta R'000 rar 2028 | Mar 2024 HOLDINGS LIMITED Assets . Property, plant and equipment (incl invest prop) 1160 869 1261095 Group Financial Overview IFRS16 - Right of use assets 209 179 225 288 Statement of Investments in associates 17 394 22051 r A .., Investments in joint ventures 1852 285 187
Slide 18: Inventory
Invicta HOLDINGS LIMITED RPE Group Financial Overview Inventory RPI RPA CE MacNeil Plastics Invicta Group UMMdddddddddddddddddddddddddddd R'000 Gross value Provision Net value Mar 25 314 138 41 163 272 975 Mar 24 470 392 31 332 439 060 Mar 25 2 003 704 310 479 1693 225 Mar 24 1998 704 329 116 1 669
Slide 19: Statement of Financial Position: Assets (cont.)
i Invicta R’o00 esl Mar 2024 HOLDINGS LIMITED Assets . . Property, plant and equipment (incl invest prop) 1160 869 1261095 Group Financial Overview IFRS16 - Right of use assets 209179 225 288 Statement of Investments in associates 17394 22051 Fi ial Position: Investment in joint ventures 1852 285 18
Slide 20: Statement of Financial Position: Equity & Liabilities
i Invicta R'000 var 2025 | Mar 2024 HOLDINGS LIMITED Shareholders’ equity 5451816 5770 060 Group Financial Overview Borrowings we LES MB se6 Finance lease liabilities 177 292 93952 Statement of IFRS 16 - Right of use lease liabilities 181 615 190 427 A A ae, Employee benefit bonus incentive* 15 004
Slide 21: Total Net-Interest Bearing Debt
° Invicta HOLDINGS LIMITED Group Financial Overview Total Net-Interest Bearing Debt R'000 | mer 2025 | Mar 2024 Borrowings and finance lease liabilities non-current 1155 781 1199 438 Borrowings and finance lease liabilities current 330 730 188 559 Cash (799800) (998 684) Overdraft Net debt excluding
Slide 22: Bank Covenants March 2025
Invicta HOLDINGS LIMITED Group Financial Overview Bank Covenants 31 March 2025 Invicta has complied with all covenants Covenants Requirement Achieved Net Debt to EBITDA Ratio 3.0< 2.48 Interest Cover Ratio 3.5> 5.44 INVICTA HOLDINGS LIMITED | Final Results Presentation for the year ended 31 March 20
Slide 23: Cash Flow Statement
y R'00o | Mar 2025 | Mar 2024 Cash flows from operating activities iad Cash generated from operations 724 800 817 862 Invicta Net finance costs pe (115.147) (116 356) HOLDINGS LIMITED Dividends paid to Group shareholders (165 978) (182 150) Dividends paid to non-controlling interests (1208) (22 610)
Slide 24: Operational Segment Review
i Invicta HOLDINGS LIMITED Operational Segment Review For the Year Ended 31 March 2025 INVICTA HOLDINGS LIMITED | Final Results Presentation for the year ended 31 March 2025
Slide 25: Company Description: Operating Segments
7 Company Description Invicta Replacement Parts for Suppliers of after-market replacement spare parts and HOLDINGS LIMITED Earthmoving Equipment consumable parts for earthmoving equipment, South Africa RPE") agricultural machinery, ground engaging tools and United Kingdom Operational Segment Review
Slide 26: Replacement Parts for Earthmoving Equipment
i Invicta HOLDINGS LIMITED Replacement Parts for Earthmoving Equipment “RPE INVICTA HOLDINGS LIMITED | Final Results Presentation for the year ended 31 March 2025
Slide 27: RPE Results Summary
O H Revenue Sustainable Operating Profit before Forex I r (R'm) (Rm) HOLDINGS LIMITED 1200 1090 160 144 986 137 Operational Segment Review 900 120-108 Results Summary 600 567 80 31 March 2025 iia lla 300 40 Mar 2023 Mar 2024 Mar 2025 Mar 2023 Mar 2024 Mar 2025 Net Operating Assets Return on Net Oper
Slide 28: Results Summary March 2025
I. Invicta HOLDINGS LIMITED Operational Segment Review Results Summary 31 March 2025 VM Ma Sustainable Operating Profit before Forex Rm) 160 7 137 132 2 125 100 78 50 25 Segmental operating IFRS 16 Interest Paid Amortisation of PPA Assets Sustainable operating profit at 31 March 2025 profit at 31 Ma
Slide 29: Revenue Contribution March 25
) Twicta HOLDINGS LIMITED Operational Segment Review Revenue Contribution 31 March 2025 Vdd By Market Segment @ Earthmoving 100% INVICTA HOLDINGS LIMITED | Final Results By Revenue Stream m@ Spare Parts its Presentation for the year ended 31 Ma 100% 29
Slide 30: Outlook March 2025
O Twicta HOLDINGS LIMITED Operational Segment Review Outlook 31 March 2025 General: + South African businesses continue to perform well in a competitive market, with ESP once again providing a solid performance and strong cash generation + NWEB has been fully integrated and continues to provide a po
Slide 31: Kian Ann Group
ry Invicta HOLDINGS LIMITED Kian Ann Group “KAG" KIAN ANN ENGINEERING PTE LTD " The Trusted Name In Heavy Machinery And Diesel Engine Parts Uitttiditiitiidiitibda INVICTAHOLDINGS LIMITED | Final Resuits Presentation forthe year ended 31 March 2025
Slide 32: Results Summary March 2025
Invicta HOLDINGS LIMITED Operational Segment Review Results Summary 31 March 2025 Revenue (S$m) s00 2 288 248 228 v 16% 150 75 Mar 2023 Mar 2024 Mar 2025 Net Operating Assets (S$m) 300 225 199 203 aiid 150 15 Mar 2023 Mar 2024 Mar 2025 * Results represent 100% of the Kian Ann Group WMI dd dd Sustain
Slide 33: Results Summary March 2025
Invicta HOLDINGS LIMITED Operational Segment Review Results Summary 31 March 2025 KIAN ANN ENGINEERING Pre L1p The tet Hey Maenery Au Des Eagne Fas 55 45 35 25 15 Md Sustainable Operating Profit before Forex (s$im) 60 A 3 4 29 2 — — = — 3 Segmental Gain from Profit on Profit on Relocation Amortisati
Slide 34: Revenue Contribution March 25
) Twicta HOLDINGS LIMITED Operational Segment Review Revenue Contribution 31 March 2025 ANN ENGINEERING Pre L1D Name Henry Mactan Dae aging Fars MMMM dd dbl By Market Segment By Revenue Stream 3% 2% 16% a l 89% 84% m@ Manufacturing & Industry m@ Heavy Machinery ™ Automotive @ Resellers m Agriculture
Slide 35: Revenue Contribution by Country
i By Country Invicta HOLDINGS LIMITED Operational Segment Review Revenue Contribution 31 March 2025 IAN ANN ENGINEERING PTE LTD Hey Maenery Au Dsl Eagne Fas ® Non-Asian Countries ® United States WHI bb dd dda @ Other Asian Countries @ Malaysia @ Indonesia 5% 4% « aol 25% m Other ASEAN Countries ®@ S
Slide 36: Outlook March 2025
1 Invicta HOLDINGS LIMITED General: Operational Segment Review Outlook 31 March 2025 USA tariff uncertainty continues to influence business prospects out of the China based manufacturing operation Relocation of the main Kian Ann warehouse from Singapore to China is complete. Operations are expected
Slide 37: Replacement Parts for Industrial Equipment
I. Invicta HOLDINGS LIMITED Replacement Parts for Industrial Equipment “RPI" INVICTA HOLDINGS LIMITED | Final Results Presentation for the year ended 31 March 2025
Slide 38: Results Summary March 2025
O Twicta HOLDINGS LIMITED Operational Segment Review Results Summary 31 March 2025 » INDUSTRI TOOIrE FOURMIOT VEEL Revenue Sustainable Operating Profit before Forex Rm Rm) 3% 6000 400 tees 4998 307 a 4716 4500 300 <000 3% 08 1 16% 1500 100 Mar 2023, Mar 2024 Mar 2025 Mar 2023, Mar 2024 Mar 2025 Net
Slide 39: Results Summary March 2025
I. Invicta HOLDINGS LIMITED Operational Segment Review Results Summary 31 March 2025 MMMM LLU LLL LL Sustainable Operating Profit before Forex (R'm) 420 350 280 210 Segmental operating IFRS 16 Interest Paid Net loss on disposal Impairment of property, Sustainable operating profit at 31 March 2025 of
Slide 40: Revenue Contribution March 25
) Twicta HOLDINGS LIMITED Operational Segment Review Revenue Contribution 31 March 2025 GMMUMMML dd 2% By Market Segment 2% 2% 3% 4% 8% ) 15% a \ 1% 15% Parastatals lm Construction m Food & Beverage mw Retail/Trade ™ Cash Sales @ Automotive & Transport @ Agriculture Projects & Consultants lM Oil&Gas
Slide 41: Revenue Contribution March 25
) Twicta HOLDINGS LIMITED Operational Segment Review Revenue Contribution 31 March 2025 By Revenue Stream 19% 43% 57% 81% m Consumables @ Engineering By Region @ South Africa @ Africa INVICTA HOLDINGS LIMITED | Final Results Presentation for the year ended 31 March 2025 4
Slide 42: Outlook March 2025
1 Invicta HOLDINGS LIMITED Operational Segment Review Outlook 31 March 2025 Me General: + The governments focus on infrastructure investment presents a positive outlook and opportunities in the medium term + Project business and order book remains strong and positive, especially in engineered produc
Slide 43: Replacement Parts for Auto and Agri
0) Invicta HOLDINGS LIMITED Replacement Parts for Auto and Agri “RDA" RP INVICTA HOLDINGS LIMITED | Final Results Presentation for the year ended 31 March 2025
Slide 44: Results Summary March 2025
O Twicta HOLDINGS LIMITED Operational Segment Review Results Summary 31 March 2025 Revenue Sustainable Operating Profit before Forex (Rim) (Rm) 813 900 738 120 iy ” 675851 90 = a0 4 10% Pr L 3% 225 30 Mar 2023 Mar 2024 Mar 2025 Mar 2023 Mar 2024 Mar 2025 Net Operating Assets Return on Net Operating
Slide 45: Sustainable Operating Profit before Forex
Sustainable Operating Profit before Forex I Rm) ° Invicta co HOLDINGS LIMITED Operational Segment Review ian 93 as Results Summary 31 March 2025 “5 80 60 40 20 Segmental operating IFRS 16 Interest Paid Sustainable operating WUMMMMMU LE db profit at 31 March 2025 profit at 31 March 2025 INVICTA HOLDI
Slide 46: Revenue Contribution 31 March 2025
O 1 By Market Segment 1% 1% Invicta ¢)! HOLDINGS LIMITED Operational Segment Review Revenue Contribution 31 March 2025 RPE 80% @ Construction © Industry ® Automotive & Transport @ Mining ® Agriculture INVICTA HOLDINGS LIMITED | Final R WMMMMM LL db dd ults Presentation for the year end 46
Slide 47: Revenue Contribution March 25
) Twicta HOLDINGS LIMITED Operational Segment Review Revenue Contribution 31 March 2025 LMM By Revenue Stream 2% m Consumables 98% m Engineering 36% INVICTA HOLDINGS LIMITED | Final R By Region ™@ Europe m® South Africa Presentation for the year ende 64% 47
Slide 48: Outlook
) Twicta HOLDINGS LIMITED Operational Segment Review Outlook General: + RPAcontinues to expand the product range in South Africa to add new customers to our business + Ukraine still faces the challenges of the war, but continues to grow in extremely difficult conditions + UPG Spain has been trading
Slide 49: Capital Equipment and Related Services
I. Invicta HOLDINGS LIMITED Capital Equipment and Related Services “CE en INVICTA HOLDINGS LIMITED | Final Results Presentation for the year ended 31 March 2025
Slide 50: Results Summary 31 March 2025
O Revenue Sustainable Operating Profit before Forex H (Rm) (R'm) ° Invicta 1a 1325 no an UTES oS 107 7 HOLDINGS LIMITED 1058 92 P uu 1050 90 81 Operational Segment Review 700 Tm 60 Results Summary 0% 31 March 2025 aes 56 Mar 2023 Mar 2024 Mar 2025 Mar 2023 Mar 2024 Mar 2025 sm CFI PITA ub Net Operat
Slide 51: Sustainable Operating Profit before Forex
Sustainable Operating Profit before Forex I. Invicta a HOLDINGS LIMITED 120 Operational Segment Review a7 Results Summary 100 e 31 March 2025 80 se 2 f ‘CAPITAL “0 {© Equipment Group os 40 20 Segmental operating IFRS 16 Interest Paid Sustainable operating profit at 31 March 2025 profit at 31 March 2
Slide 52: Revenue Contribution March 25
O Twicta HOLDINGS LIMITED Operational Segment Review Revenue Contribution 31 March 2025 {CRPITAL Equipment Group By Market Segment By Revenue Stream 5% a “/ 14% 75% 78% @ Rental & Maintenance m Equipment ™@ Spare Parts m@ Service @ Earthmoving @ Materials Handling 52 INVICTA HOLDINGS LIMITED | Final
Slide 53: Outlook 31 March 2025
Y OOS Spare Parts will continue their growth trajectory as customers sweat their assets amidst low commodity prices and market uncertainty Parts margins are under pressure as we see an increase in aftermarket competitors with alternative parts solutions Commodity prices remain below the trend line,
Slide 54: Key Developments & Transactions
Invicta HOLDINGS LIMITED Key Developments & Transactions For the Year Ended 31 March 2025 INVICTA HOLDINGS LIMITED | Final Results Presentation for the year ended 31 March 2025
Slide 55: Key Developments and Transactions in the Year Under Review
1 Invicta Key Developments and Transactions in Redemption of : the Year Under Review Preference Shares: On 8 July 2024 the Group completed the R703 million redemption of the 69 million outstanding preference shares As the redemption took place in July, we will see the full benefit materialise in the
Slide 56: Key Developments and Transactions in the Year Under Review (cont.)
O Teicta HOLDINGS LIMITED Key Developments and Transactions in the Year Under Review (cont.) Disposal of the Kian Ann warehouse in Singapore: Disposed of our Kian Ann warehouse in Singapore for S$63 million and received a dividend of S$20 million from these proceeds. These proceeds were applied agai
Slide 57: Prospects & Strategy
i Invicta HOLDINGS LIMITED Prospects & Strategy For the Year Ended 31 March 2025 INVICTA HOLDINGS LIMITED | Final Results Presentation for the year ended 51 March 2025
Slide 58: Prospects & Strategy Objectives
) Twicta HOLDINGS LIMITED Prospects & Strategy Objectives Objectives: Managing working capital and the balance sheet closely Continued focus on optimising operations and cash generation Managing the supply chain challenges Looking for appropriate acquisitions and new products 58 INVICTA HOLDINGS LIM
Slide 59: Looking Forward
1 Invicta HOLDINGS LIMITED LOOKING FORWARD
Slide 60: Thank you for your attendance & participation
n, Invicta HOLDINGS LIMITED Thank you for your attendance & participation www.invictaholdings.co.za For any further Investor Relations questions please contact: Vanessa Rech | Keyter Rech Investors Solutions | vrech@kris.co.za | 083 307 5600 or Sade Lekena | Invicta Holdings | sadel@invictaholdings.