Enx Group Limited · JSE:ENX
Enx — H1 2025 Earnings Presentation
30 slides from Enx's earnings presentation, Feb 28, 2025
Slide 1: Results Presentation
RESULTS PRESENTATION For the half year ended 28 February
Slide 2: Contents
CONTENTS 01. Who we are 02. Our purpose and who we represent 03. Highlights and key focus areas 04. Financial performance 05. Building our business units 06. Disposal group held for sale 07. Financial review 08. Outlook 2
Slide 3: Who We Are
WHO WE ARE
Slide 4: Who We Are
WHO WE ARE CHEMICALS HEADCOUNT DISTRIBUTION OF CHEMICALS: Polyolefins, styrenics, rubber and speciality chemicals 48 2024: 46 POWER HEADCOUNT DISTRIBUTION, RENTAL AND VALUE-ADDED SERVICES FOR: Diesel power solutions, renewables and diesel engines 195 2024: 208 4
Slide 5: Our Purpose and Who We Represent
OUR PURPOSE AND WHO WE REPRESENT
Slide 6: Our Purpose
OUR PURPOSE enX Group is a manufacturer and distributor of quality branded power equipment and a distributor of quality branded chemicals • Quality brands and products - Chemicals - Power • Stock on-the-ground • Nationwide distribution • Technical expertise • Local manufacturing (Power) 6
Slide 7: Who We Represent
WHO WE REPRESENT BRAND RECOGNITION CHEMICALS POWER MARKETING EXPERTISE RESEARCH AND DEVELOPMENT GROWTH OPPORTUNITIES SUPPORTED WITH CONFIDENCE BY GLOBAL TOP 10 AND LEADING INTERNATIONAL BRANDS 7
Slide 8: Highlights and Key Focus Areas
HIGHLIGHTS AND KEY FOCUS AREAS
Slide 9: Highlights and Key Focus Areas
HIGHLIGHTS AND KEY FOCUS AREAS 1. Trading Performance for the half-year ended 28 February 2025 compared to prior period - Robust margins in the Chemical segment - Lower profitability in Power due to reduced demand for power solutions with minimal load-shedding compared to the prior year - Continued
Slide 10: Highlights and Key Focus Areas
HIGHLIGHTS AND KEY FOCUS AREAS 3. Disposal of the Lubricants Segment to Abakhulu Investments - SENS announcement dated 13 December 2024 announcing the disposal as a single, indivisible transaction - SENS announcement dated 11 March 2025 indicating that the transaction had become unconditional and ha
Slide 11: Highlights and Key Focus Areas
HIGHLIGHTS AND KEY FOCUS AREAS 6. New Way Power reduction in demand compared to prior period - Profitability impacted by minimal loadshedding compared to same period last year - Revenue from data-centre customers, accompanied by related maintenance services remains robust - Reduction in costs to mee
Slide 12: Highlights and Key Focus Areas
HIGHLIGHTS AND KEY FOCUS AREAS 9. Continued focused decentralised management teams - Empowering business unit leaders with Group assisting to improve efficiencies - Two main segments remaining: Chemicals and Power - Decentralised all funding facilities across each business unit - Decentralised all I
Slide 13: Financial Performance
FINANCIAL PERFORMANCE EE =e = — = a
Slide 14: Financial Performance
FINANCIAL PERFORMANCE • Revenue from continuing operations of R1.134 billion (2024: R1.266 billion), down 10% - Lower profitability in Power due to reduced demand for power solutions given minimal load-shedding compared to the prior year • Operating profit ¹ of R41 million (2024: R69 million), down
Slide 15: Building Our Business Units
? i a : i gs — ‘ Se a BUILDING OUR «ae. BUSINESS UNITS
Slide 16: Business Unit Analysis – New Way Power
BUSINESS UNIT ANALYSIS – NEW WAY POWER H1 F2025 Rm H1 F2025 H1 F2024 Revenue 194 333 NEW WAY POWER • Revenue ↓ 42% EBIT 8 44 - Revenue across all streams, particularly in the equipment rental, renewables, diesel and services/installation categories fell PBT 9 46 significantly, with minimal loadshedd
Slide 17: Business Unit Analysis – WAG
BUSINESS UNIT ANALYSIS – WAG CHEMICALS H1 F2025 Rm H1 F2025 H1 F2024 Revenue 939 939 WAG • Year-on-year revenue same as the prior year EBIT 53 53 - Higher average selling prices coupled with mix changes - Offset by lower volumes of polyethylene and polystyrene, but PBT 48 45 higher volumes of natura
Slide 18: Disposal Group Held for Sale
DISPOSAL GROUP HELD FOR SALE
Slide 19: Business Unit Analysis – AG Lubricants
BUSINESS UNIT ANALYSIS – AG LUBRICANTS LUBRICANTS H1 F2025 Rm H1 F2025 H1 F2024 Revenue 894 850 AG LUBRICANTS • Year-on-year revenue ↑ 5% EBIT ¹ 60 56 - Higher average selling prices PBT - AGL ¹ 54 48 - Volumes sold up 1% compared to prior period • Profitability supported by higher period-on-period
Slide 20: Disposal Group Held for Sale – Current Year
DISPOSAL GROUP HELD FOR SALE – CURRENT YEAR Lubricants – disposal group held for sale in terms of IFRS 5 • SENS announcement dated 13 December 2024 announcing disposal of the Lubricants Segment as a single, indivisible transaction to Abakhulu Investments • SENS announcement dated 11 March 2025 that
Slide 21: Disposal Group Held for Sale – Prior Year
DISPOSAL GROUP HELD FOR SALE – PRIOR YEAR Eqstra - disposal group held for sale and discontinued operation in terms of IFRS 5 • SENS dated 12 December 2023 announcing disposal of Eqstra to Nedbank after definitive transaction agreements had been concluded • The suspensive conditions were fulfilled,
Slide 22: Financial Review
FINANCIAL REVIEW
Slide 23: Summarised Statement of Profit and Loss – Continuing Operations
FINANCIAL REVIEW SUMMARISED STATEMENT OF PROFIT AND LOSS CONTINUING OPERATIONS Rm H1 F2025 H1 F2024 Revenue 1 134 1 266 Cost of sales (986) (1 091) Gross Profit 148 175 Operating expenses (107) (106) Operating Profit 41 69 Net financing income 23 9 Profit before tax 64 78 Taxation (12) (12) Profit a
Slide 24: Condensed Statement of Financial Position
FINANCIAL REVIEW CONDENSED STATEMENT OF FINANCIAL POSITION Rm Feb 2025 ¹ Held for sale Feb 2025 ² Aug 2024 Goodwill and intangibles 33 33 - 38 Inventories 842 324 518 860 Trade and other receivables 859 316 543 717 PPE and right-of-use assets 177 126 51 178 Restricted consideration 100 - 100 100 Oth
Slide 25: Condensed Statement of Cash Flows
FINANCIAL REVIEW CONDENSED STATEMENT OF CASH FLOWS Rm H1 F2025 H1 F2024 Cash generated from operations before working capital movements 107 574 Working capital movements (23) (667) Cash generated from operations 84 (93) Net interest and taxation paid (28) (138) Net cash inflows/ (outflows) from oper
Slide 26: Gross and Net Interest-Bearing Borrowings
FINANCIAL REVIEW GROSS AND NET INTEREST-BEARING BORROWINGS Funding facilities (Rm) ³ Facility size (Utilised)/cash Liquidity Trading Businesses 260 (93) 167 Trade finance - WAG 260 (93) 167 Cash held at a subsidiary level ² - 44 44 Cash held - Unrestricted ¹ - 568 568 Unrestricted net cash: 28 Febru
Slide 27: Covenant Levels
FINANCIAL REVIEW COVENANT LEVELS * WAG covenants Level February 2025 Equity levels >R205m R318 m * All covenants met throughout the reporting period 27
Slide 28: Outlook
08 OUTLOOK
Slide 29: Outlook
OUTLOOK Chemicals • Conditions expected to be stable, with opportunities arising from the investment made by Trichem SA into WAG • Dependent on load-shedding in presenting opportunities Power • Good order book in respect of data-centre power units • Profitability continues to be negatively impacted
Slide 30: Disclaimer
DISCLAIMER Certain statements in this presentation regarding enX’s business operations may constitute “forward-looking statements”. All statements other than statements of historical fact are included in this presentation, including, without limitation, those regarding the financial position, busine