Foschini Group Limited · JSE:TFG
Foschini — TFG (The Foschini Group Limited) — FY2025 Earnings Presentation
80 slides from Foschini's earnings presentation, June 2025
Slide 1: TFG Results Presentation
TFG RESULTS PRESENTATION For the year ended 31 March 2025 1
Slide 2: Agenda
Agenda 01 Overview and Highlights 02 Financial Review 03 Segmental Performance 04 Strategy and Outlook 2
Slide 3: Overview and Highlights
01 OVERVIEW AND HIGHLIGHTS Anthony Thunström Group CEO 3
Slide 4: Strategy, execution and momentum
Strategy, execution and momentum • Strategic platform investments landed and delivering • Record results • Strong H2 • Positive momentum continues post year end TFG Results Presentation – for the full-year ended 31 March 2025 4
Slide 5: Macroeconomic backdrop across core markets
Macroeconomic backdrop across core markets South Africa United Kingdom Australia Interest Rates 7.25% ↓ 4.25% ↓ 3.85% ↓ GDP Growth ↑ Forecast upgraded → Flat, low growth ↓ Slowing Consumer Confidence ↑ Recovering from lows → Cautious, tax bracket creep → Muted, stable Unemployment 32% 4.5% 4% Cost-o
Slide 6: Group financial highlights
Group financial highlights Strong top line, stronger bottom line. Our best year yet Delivering operating leverage: Continued margin expansion: 1,015.6c +4.1% FY2025: 49.4% FY2024: 47.9% Headline Earnings Per Share Group Revenue Gross Margin FY2025: 390c FY2024: 350c Total Dividend Per Share +5.2% FY
Slide 7: Group financial highlights
Group financial highlights H1 distorted by prior year stock sell-down H2 shows real performance trajectory 11.9% 10.3% 10.6% 8.7% Revenue Gross Profit EBIT 2.5% PAT H1 H2 -2.0% -3.4% -4.3% % Growth on H1 2024 % Growth on H2 2024 TFG Results Presentation – for the full-year ended 31 March 2025 7
Slide 8: Geographic analysis
Geographic analysis Record performances Revenue 72% 28% Contribution Africa London Australia R44.9bn £377m A$746m +4.2% +16.4% -2.6% Record Revenue Record Revenue Revenue R4.8bn £26m A$81m +12.3% 0.0% -10.0% Record EBIT EBIT EBIT (excl acquisition (excl brand costs & impairment) impairment) EBIT Con
Slide 9: TFG Africa highlights
TFG Africa highlights Marked operating leverage improvement FY19 – FY24 CAGR: FY25: (Period impacted by COVID and loadshedding) Growth in: Retail turnover 12.4% Retail Turnover Retail turnover 3.7% Gross profit 8.9% Gross Profit Gross profit 7.6% EBIT 1.2% EBIT 12.3% EBIT -1.1% PAT 18.9% PAT TFG Res
Slide 10: TFG Africa market share growth
TFG Africa market share growth Sales growth accelerated in H2, well ahead of the market Sales Growth Listed apparel revenue growth since FY19 Women, Mens, Kids and Baby categories (excl acquisitions) 8.2% 6.3% 5.6% 4.8% 4.0% 1.2% 0.7% H1 H2 TFG Market Source: RLC 1.2% 1.0% Overall market: 12-month A
Slide 11: Our BOLTS strategy
Our BOLTS strategy BUILD OUT OPTIMISE LEVERAGE TRANSFORM SUSTAIN TFG Results Presentation – for the full-year ended 31 March 2025 11
Slide 12: Build out: Hiking profits in TFG Africa
Build out: Hiking profits in TFG Africa Every business stack delivered strong profit growth Specialty Sports T/O growth: 7% T/O growth: 1% Profit growth: 11% Profit growth: 10% Africa Turnover growth: +4% Womenswear Profit growth: +15% T/O growth: 8% Profit growth: 23% Menswear Value T/O growth: 3%
Slide 13: Build out: Stores
BOLTS Build out: Stores Continued store roll-out in all territories Africa London Australia Total Acquisitions - 169 - 169 New stores 82 67 32 181 Revamps 83 38 11 132 Density improvements in TFG Africa R per m 2 (’000) 36 35.6 34 33.1 33.3 32 30 30.1 28 +52% 28.3 Trading 26 FY22 FY23 FY24 FY25 FY26
Slide 14: Build out: Beauty
Build out: Beauty R5bn by 2030 5.0 Typical TFG beauty customer Shops 4x per year Annual spend R3000+ 1.2 Basket size R750+ FY25 FY30 Already in >50% of our stores Sport 131 Mens 444 Most successful online Value Womens 826 467 12% Online contribution FY25 New value beauty department launched in Jet A
Slide 15: Build out: JET
BOLTS Build out: JET Record profitability • 38% profit improvement Focus on new stores and revamps • 21 stores revamped in FY25 • 25 planned revamps for FY26 • +17.1% turnover growth post revamp • 11 new Jet stores and 5 home stores in FY26 Beauty roll out • 155 stores with a Beauty department • Sca
Slide 16: Build out: JD partnership
BOLTS Build out: JD partnership STORE ROLL OUT Trading densities Canal Walk >4x TFG Africa average Eastgate East Rand Basket size Sandton July 2025 >R1800 Waterfall Nov 2025 6 further Cannibalisation WIP ~1-3% 50 stores over the next 5 years TFG Results Presentation – for the full-year ended 31 Marc
Slide 17: Build out: White Stuff
BOLTS Build out: White-stuff Strategic recap: 1. Entry into on-trend casual/lifestyle growth category 2. Strong own-channel growth pipeline 3. Established online presence 4. Margin and efficiency upside 5. UK menswear entry Strong post-acquisition performance: (post 25 October effective date) Gross
Slide 18: Optimise: Riverfields omni-enabled DC
BOLTS Optimise: Riverfields omni-enabled DC DC live and early wins being realised Results now scaled for Sports plus, womenswear, JD and Jet • 75,000m² Riverfields DC supports Replenishment lead time: demand-led supply chain 2.6 days • Enables hold back and replenishment Previously: 4.6 days • E-com
Slide 19: Leverage: Omni-selling
Leverage: Omni-selling • Endless aisle selling by store staff Net Revenue from omni-selling • Real-time access to full range 30 • Higher margins from strong GP% and C&C • R350m sales expected in FY26 25 • High-ROI, long-term profit driver 20 15 Millions Early results are exceptional: 10 Average Clic
Slide 20: Leverage: Rewards - a key growth engine
Leverage: Rewards - a key growth engine Rewards members: (millions) 39.9 Our customers feel valued: 37.6 • 83% retention of our most valuable customers • R2.3bn increase in Rewards turnover YoY • Loyalty that keeps our best customers coming 30.6 back for more 27.8 26.4 Rewards customers spend more R
Slide 21: Transform: More customers buying more from us
Transform: More customers… buying more from us First time buyers on Bash The biggest store in every brand 464,219 • #1 store across all 14 online brands • 8.1m downloads 346,986 Explosive growth +34% • R2bn+ business, equal to 195 stores • 64 “virtual stores” added in FY25 • R3bn target for FY26 - 9
Slide 22: Sustainability: From Farms to Factories to Futures
BOLTS Sustainability: From Farms to Factories to Futures Farms Factories Futures Better Cotton % sourced Highlights in TFG Africa Highlights in TFG Africa Annual year 2024 72% 100% of Tier 1 factories mapped across B-BBEE Level 2 maintained clothing, accessories, footwear, homeware, 51% and furnitur
Slide 23: Group Financial Review
02 GROUP FINANCIAL REVIEW Ralph Buddle Group CFO 25
Slide 24: Group | Highlights
Group | Highlights • Significant improvement in the second half of the year in TFG Africa • Accelerating growth in both sales and gross margin • Continued focus on cost-saving initiatives • Acquisition of White Stuff in the UK • Inventories normalised and healthy, higher than the prior year with the
Slide 25: Group | Highlights
Group | Highlights Turnover +3.6% Gross +6.7% Gross 49.4% Profit Margin R58.3bn R28.8bn (FY 2024: 47.9%) EBIT 10.7% EBIT +4.4% +3.6% PBT Margin (FY 2024: 10.6%) R6.2bn R4.3bn +4.6% 14.5% Net Debt / 1.00x HEPS ROCE 1 015.6c (FY 2024: 14.6%) EBITDA (FY 2024: 0.76x) Excl. goodwill Pre IFRS 16 Total 390
Slide 26: Group | Turnover, Gross Profit and EBIT
Group | Turnover, Gross Profit and EBIT TFG Africa standout performance, with margin improvement and cost control across the Group Africa London Australia % growth +3.7% +7.6% +12.3% +16.4% +22.9% 0.0% -2.6% -3.6% -10.0% 39,175 40,619 765 745 377 324 497 479 247 16,088 17,306 201 4,239 4,759 90 81 A
Slide 27: Group Segmental | Africa
Group Segmental | Turnover, Gross Profit and EBIT Strong H2 trading performance and margin improvement with significant profit leverage Africa H1 2025 % growth H2 2025 % growth FY 2025 % growth 18.0% 16.7% 18.0% 18.0% 16.0% 16.0% 16.0% 14.0% 14.0% 14.0% 12.3% 12.0% 12.0% 12.0% 10.0% 10.0% 10.0% 8.4%
Slide 28: Group Segmental | London
Group Segmental | Turnover, Gross Profit and EBIT White Stuff a strong contributor 100.0% London 90.0% 100.0% 80.0% H1 2025 % growth 90.0% H2 2025 % growth 70.0% FY 2025 % growth 80.0% 60.0% 70.0% 50.0% 60.0% 50.5% 50.0% 40.0% 39.8% 40.0% 30.0% 22.9% 30.0% 25.0% 20.0% 16.4% 20.0% 10.0% 10.0% 0.0% 0.
Slide 29: Group Segmental | Australia
Group Segmental | Turnover, Gross Profit and EBIT Highly promotional environment, sustained high inflation and interest rates impacting the consumer Australia H1 2025 % growth H2 2025 % growth FY 2025 % growth 0.0% 0.0% 0.0% -0.5% -2.4% -2.8% -2.3% -2.6% -5.0% -5.0% -5.0% -3.6% -6.6% -10.0% -10.0% -
Slide 30: Group | Balance Sheet
Group | Balance Sheet Inventory normalisation, healthy debtors book, and conservative gearing Working Capital Effective management of working capital Inventory R14.3bn Stock 2.3x Turn • Inventory normalised and healthy (excl. White +23.6% on FY 2024 FY 2024: 2.4x Stuff inventory at R13.6bn with a gr
Slide 31: Group | Cash Generation
Group | Cash Generation Normalisation of inventory. R1bn White Stuff acquisition. Cash conversion 88% over 2 years +5.8% FY 2025 7,060 (2,149 ) 4,299 (612 ) (1,022 ) R’m (897 ) R’m (1,791 ) (325 ) (1,044 ) (1,131 ) (1,911 ) Cash operating Working capital Trade receivables Cash generated Taxation pai
Slide 32: Segmental Performance: TFG Africa
03 SEGMENTAL PERFORMANCE: TFG AFRICA 34
Slide 33: TFG Africa | Performance
TFG Africa | Performance • Gross margin improvement • Higher acceptance rates, lower bad debts on book • Strong performance from credit • Trading expenses tightly controlled TFG Results Presentation – for the full-year ended 31 March 2025 35
Slide 34: TFG Africa | Performance
TFG Africa | Performance Financial services generating a healthy return on equity * For illustrative purposes TFG Results Presentation – for the full-year ended 31 March 2025 36
Slide 35: TFG Africa | Performance
TFG Africa | Performance Strong retail performance * For illustrative purposes TFG Results Presentation – for the full-year ended 31 March 2025 37
Slide 36: TFG Africa | Performance
TFG Africa | Performance Strong retail performance * For illustrative purposes TFG Results Presentation – for the full-year ended 31 March 2025 38
Slide 37: TFG Africa | Performance Highlights
TFG Africa | Performance Highlights Turnover and Margin Recovery 43.2% 44.0% 42.6% 55,000 41.4% 43.0% 41.0% 41.1% 42.0% 41.0% 45,000 40,619 40.0% 4-year CAGR: 39,175 35,480 39.0% 38.0% 35,000 30,275 37.0% • Turnover +15.4% 22,886 36.0% • Gross Profit +16.2% 25,000 35.0% 16,088 17,306 34.0% 13,079 14
Slide 38: TFG Africa | Trading Expenses
TFG Africa | Trading Expenses Trading expenses well controlled % of Turnover 40.0% 39.2% 39.0% 38.0% 37.7% 37.0% 37.0% 37.0% 36.3% 36.0% 35.0% 34.0% 33.0% 32.0% 31.0% FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 LFL store expense Growth on FY growth on FY % of turnover 2024 2024 Occupancy costs 4.7% 6.3%
Slide 39: TFG Africa | Capex
TFG Africa | Capex Existing stores optimised, with fewer new stores opened FY 2025 Other R139m 11% Logistics 1 482 R226m Stores 18% R586m 1 275 Contribution 46% 928 944 IT R324m 25% 82 New Stores R’m FY 2024 CA PE X D E P RE C I A TI ON CA PE X D E P RE C I A TI ON Other FY 20 24 FY 20 25 R103m 6% L
Slide 40: TFG Africa | Inventory
TFG Africa | Inventory Inventory normalised Inventory Health FY 2025 Net Inventory 18% 10,849 10,598 8,892 47% 35% 0-8 weeks 9-26 weeks >27 weeks 2.4x Inventory Health R’m Stock turn FY 2024: 2.4x FY 2024 R’m FY 2024 H1 2025 FY 2025 20% 51% • Consistent stock health and stock turn 29% • Normalised i
Slide 41: Group | Acquisitions
Group | Acquisitions New businesses continue to perform with platform benefits % growth +11.7% +10.6% +9.1% +12.1% -0.4% +0.2% +0.6% +38.4% (LFL +4.4%) (LFL +1.9%) No. of stores 188 207 226 467 444 441 5,557 5,537 5,548 3500 3,157 3000 2,854 2,554 2500 750 742 750 2000 700 700 650 1500 600 650 550 6
Slide 42: Segmental Performance: TFG Africa Credit
03 SEGMENTAL PERFORMANCE: TFG AFRICA CREDIT JANE FISHER GROUP DIRECTOR 44
Slide 43: Credit | Demand
Credit | Demand Accept rates maintained at higher level ACCEPT RATES & CREDIT TURNOVER +5.6% Group R10.5bn 6,000 60% FY24:R10.0bn Credit R’ Millions 5,000 50% Turnover +5.6% Jet R1.5bn 4,000 40% 35.8% 34.7% FY24: 1.4bn Acquisitions 3,000 23.9% 25.6% 30% +22.2% 19.0% 20.9% 20.3% 20.0% Tapestry R241m
Slide 44: Credit | Health
Credit | Health Highest proportion of year-end up-to-date accounts to date. GROSS BOOK & PROVISIONS 12,000 70% 60% R’ Millions 10,000 Buying 50% Ageing Position 82.0% Overdue 12.1% 8,000 FY24: 81.0% FY24: 13.0% 40% 6,000 30% 4,000 20% Bad debt Net Write-off 2,000 24.5% 10% -1.6% Bad Debt 12.8% 19.7%
Slide 45: Credit | Summary
Credit | Summary Record EBIT. Growth on FY 2025 FY 2024 FY 24 R’m Income growth of 3.8% Income 2,859 2,755 3.8% • 75bps of rate reductions Net Bad Debt (1,388) (1,394) (0.4%) • 11% YoY growth in new accounts Trading expenses (683) (643) 6.2% EBIT 788 718 9.7% Negative net bad debt growth • 80bps pro
Slide 46: Segmental Performance: TFG London
03 SEGMENTAL PERFORMANCE: TFG LONDON Justin Hampshire CEO TFG London Emma Mackrill CFO TFG London 48
Slide 47: TFG London | Performance
TFG London | Performance Gross margin increases 3.4% compared to FY 2024 • Macro headwinds continue – consumer confidence and interest rates • Acquisition of White Stuff recognised from October • TFG London focus remains on: o Customer acquisition o Channel optimisation o Leveraging the platform EBI
Slide 48: TFG London | Performance (excluding White Stuff)
TFG London | Performance (excluding White Stuff) FY 2025 Gross Profit decline of -1.0%, vs turnover -8.6% • Underlying business GM improvement of 300bps • Full price recovery in H2 supporting margin growth • Improvement in the Red sea disruption EBIT excludes acquisitions costs and impairment TFG Re
Slide 49: TFG London | Performance Highlights
TFG London | Performance Highlights Turnover and Margin Recovery 500 65.5% 70.0% 62.1% 56.6% 58.6% 450 60.0% 377 400 50.0% • Margin growth 42.3% 338 324 350 309 o Trading margin improvement across 40.0% 300 247 all brands 250 30.0% 196 198 201 200 175 20.0% • Leverage the TFG London platform 150 o E
Slide 50: TFG London | Inventory
TFG London | Inventory Inventory Health FY 2025 Net Inventory 11% 91 20% 69% 60 54 47 £’m 0-8 weeks 9-26 weeks >27 weeks Inventory Health £’m FY 2024 FY 2023 FY 2024 FY 2025 FY 2025 (excl. White Stuff) 14% 24% 62% • Increase mostly driven by White Stuff addition • Improvement in current season stock
Slide 51: TFG London | White Stuff
TFG London | White Stuff • Post acquisition performance continues to be positive supported by: o Store portfolio expansion o Customer growth o Team • Outlook remains in line with forecasts TFG Results Presentation – for the full-year ended 31 March 2025 53
Slide 52: TFG London | Outlook
TFG London | Outlook ECONOMIC CHALLENGES • The market sentiment is more positive on the back of the recent interest rate cuts • Resulting UK consumer confidence improving • Global macro uncertainty continues • US trade tariffs OUTLOOK • Early Q1 trading is looking positive • Annualisation of White S
Slide 53: Segmental Performance: TFG Australia
03 SEGMENTAL PERFORMANCE: TFG AUSTRALIA Dean Zanapalis CEO TFG Australia Troy Wilson CFO TFG Australia 55
Slide 54: TFG Australia | Performance
TFG Australia | Performance Improved performance in H2 with record trade during peak events % Growth A$’m FY 2025 FY 2024 on FY 2024 Revenue 746 765 (2.5%) • Economic conditions remained challenging Retail Turnover 745 765 (2.6%) • Early signs of recovery Gross Profit 479 497 (3.6%) • Improvements i
Slide 55: TFG Australia | Performance
TFG Australia | Performance Turnover and Margin Recovery 1,200 70.0% 66.3% 64.3% 65.1% 63.6% 64.3% • FY 2023 was the peak of abnormal trade 1,000 65.0% 810 (Post COVID boom) 765 745 800 60.0% 624 • FY 2024 represented a slowdown; 600 537 55.0% 503 497 479 remained well above historic levels 401 400
Slide 56: TFG Australia | Inventory
TFG Australia | Inventory Stock levels are very healthy, and the quality remains strong Inventory Health FY 2025 Net Inventory 3% 152 11% 135 126 85% 0-8 weeks 9-26 weeks >27 weeks Inventory Health A$’m FY 2024 FY 2023 FY 2024 FY 2025 6% 8% • 7% increase in the stock balance vs FY 2024 • Current lev
Slide 57: TFG Australia | Outlook
TFG Australia | Outlook ECONOMIC CHALLENGES • Consumer confidence remains low amid cost-of-living pressures and relatively high interest rates • Cost of doing business pressures including award wage increases and rent • Unemployment remains low • The market remains competitive and promotionally led
Slide 58: Strategy and Outlook
04 STRATEGY AND OUTLOOK Anthony Thunström Group CEO 60
Slide 59: Africa: A one-of-a-kind integrated retail ecosystem
Africa: A one-of-a-kind integrated retail ecosystem 39,9m rewards members 28 Africa brands 520m+ store visits in FY25 3600+ 254m+ online sessions in FY25 Africa stores 8m+ Bash downloads R10bn OTB credit facilities 28,4m social media followers >80% locally sourced apparel TFG Results Presentation –
Slide 60: Looking forward
Looking forward We have substantial opportunities for both new store openings and like-for-like growth. Additionally, the following focus areas are being actively developed: 2025 Planned 2025 Achieved 2029 Plan Turnover Turnover Value R10.0bn R10.9bn R16bn Homeware R5.4bn R5.8bn R10bn VAS (incl. cel
Slide 61: International: Building out our brands
International: Building out our brands London Australia • White Stuff • Building out the Axl & Co value brand o Integration into our platform o Continued store build-out o Margin improvement • Each territory has detailed brand strategies • Constantly evaluating strategic bolt-on acquisitions aligned
Slide 62: Trading update
Trading update Positive momentum built post year end: (8 week view) Africa London Australia 80.00% 77.3% 80.00% 80.0% 70.0% 70.00% 70.00% 61.4% 60.0% 60.00% 60.00% 50.0% 50.00% 50.00% 40.0% 40.00% 40.00% 30.0% 30.00% 30.00% 20.0% 20.00% 16.4% 20.00% 11.7% 8.9% 10.0% 3.7% 10.00% 10.00% -2.6% -6.6% 2.
Slide 63: Investor calendar update
Investor calendar update Announcing: TFG’s first Capital Markets Day in Q3 Hosted in Cape Town, South Africa A platform to engage our management team around our: • Long-term strategic vision • Financial priorities • Growth roadmap TFG Results Presentation – for the full-year ended 31 March 2025 65
Slide 64: Appendix
APPENDIX 67
Slide 65: Group | Income Statement
Group | Income Statement FY 2025 FY 2024 Change Rm Rm Revenue 62,558 60,122 4.1% Retail turnover 58,271 56,221 3.6% Cost of turnover (29,505) (29,266) 0.8% Gross profit 28,766 26,955 6.7% Interest income 2,128 2,075 2.6% Insurance revenue 284 247 15.0% Other income 1,875 1,579 18.7% Net bad debt (1,
Slide 66: TFG Africa | Income Statement
TFG Africa | Income Statement FY 2025 FY 2024 Change Rm Rm Revenue 44,893 43,070 4.2% Retail turnover 40,619 39,175 3.7% Gross profit 17,306 16,088 7.6% Interest income 2,115 2,069 2.2% Insurance revenue 284 247 15.0% Other income 1,875 1,579 18.7% Net bad debt (1,388) (1,394) (0.4%) Insurance servi
Slide 67: TFG London | Income Statement
TFG London | Income Statement FY 2025 FY 2024 Change FY 2025 FY 2024 Change £m £m Rm Rm Revenue 377 324 16.4% Revenue 8,786 7,619 15.3% Retail turnover 377 324 16.4% Retail turnover 8,786 7,619 15.3% Gross profit 247 201 22.9% Gross profit 5,751 4,734 21.5% Trading Expenses (221) (175) 26.3% Trading
Slide 68: TFG Australia | Income Statement
TFG Australia | Income Statement FY 2025 FY 2024 Change FY 2025 FY 2024 Change A$m A$m Rm Rm Revenue 746 766 (2.6%) Revenue 8,879 9,433 (5.9%) Retail turnover 745 765 (2.6%) Retail turnover 8,866 9,427 (6.0%) Gross profit 479 497 (3.6%) Gross profit 5,709 6,133 (6.9%) Interest income 1 1 0.0% Intere
Slide 69: Group | Trading Expenses
Group | Trading Expenses FY 2025 FY 2024 Rm Group Africa London Australia Group Africa London Australia Occupancy costs 6,451 4,063 865 1,523 6,125 3,882 659 1,584 Depreciation and amortisation 1,270 944 158 168 1,201 928 116 157 Employee costs 10,591 6,363 1,704 2,524 10,008 5,878 1,496 2,634 Other
Slide 70: Group | H1 vs H2 vs FY
Group | H1 vs H2 vs FY H2 growth and margin recovery. H1 H2 Full Year % Growth % Growth % Growth FY 2025 FY 2024 Movement FY 2025 FY 2024 Movement FY 2025 FY 2024 Movement on H1 2024 on H2 2024 on FY 2024 Turnover TFG Africa (Rm) 18,068 18,092 (24) (0.1%) 22,551 21,083 1,468 7.0% 40,619 39,175 1,444
Slide 71: Group | Statement of Financial Position
Group | Statement of Financial Position FY 2025 FY 2024 Change FY 2025 FY 2024 Change Rm Rm Rm Rm ASSETS EQUITY AND LIABILITIES Non-current assets TOTAL EQUITY 25,609 24,141 6.1% Property, plant and equipment 6,524 5,923 10.1% LIABILITIES Goodwill and intangible assets 10,940 10,259 6.6% Non-current
Slide 72: Group | Cash Flow Statement
Group | Cash Flow Statement FY 2025 FY 2024 FY 2025 FY 2024 Rm Rm Rm Rm Cash flows from operating activities Cash flows from financing activities Operating profit before working capital changes 12,405 11,661 Shares purchased and delivered in terms of share (Increase) decrease in working capital (2,7
Slide 73: Credit | Additional Information
Credit | Additional Information TFG AFRICA TFG AFRICA YoY FY 2025 FY 2024 Growth Income (Rm) 2,859 2,755 3.8% Net bad debt (Rm) (1,388) (1,394) (0.4%) Credit costs (Rm) (683) (643) 6.2% EBIT (Rm) 788 718 9.7% Number of applications 3,872,596 3,962,501 (2.3%) Accept rates 20.1% 17.7% Number of new ac
Slide 74: Credit | TransUnion Consumer Credit Index H2 2024
Credit | Transunion Consumer Credit Index H2 2024 Credit health recovery. • The TransUnion SA Consumer Credit Index (CCI) rose to 51, continuing its recovery from all-time low of 39 in Q2 of 2023 • Recovery driven primarily by lower inflation, rising household incomes and the South African Reserve B
Slide 75: Group | Global Footprint
Group | Global Footprint TFG STORES 4 923 COUNTRIES 23 TFG AFRICA STORES TFG LONDON STORES TFG AUSTRALIA STORES 3 614 699 610 CONTRIBUTION TO TURNOVER CONTRIBUTION TO TURNOVER CONTRIBUTION TO TURNOVER 69.7% 15.1% 15.2% TFG Results Presentation – for the full-year ended 31 March 2025 78
Slide 76: Footprint | Movement since April 2024
Footprint | Movement since 1 April 2024 TFG AFRICA TFG LONDON 67 82 3 621 169 3,621 - 3,614 699 547 Apr 24 (84) Apr 24 (89) 547 3 614 699 Mar 25 Mar 25 01 Apr 24 Acquisitions New outlets Closed outlets 31 Mar 25 01 Apr 24 Acquisitions New outlets Closed outlets 31 Mar 25 TFG AUSTRALIA GROUP 181 169
Slide 77: TFG Africa | Footprint
TFG Africa | Footprint Country Stores South Africa 3,387 Namibia 98 Zambia 29 Botswana 62 Lesotho 19 Eswatini 19 South Africa Stores Eastern Cape 342 Free State 184 Gauteng 957 KwaZulu-Natal 472 Limpopo 307 Mpumalanga 323 North West 189 Northern Cape 101 Western Cape 512 TFG Results Presentation – f
Slide 78: TFG London | Footprint
TFG London | Footprint Europe Total Stores Concessions UK & Ireland 537 269 268 Switzerland 11 5 6 Germany 22 8 14 Spain 19 0 19 Netherlands 9 2 7 North America Total Stores Concessions USA 31 4 27 Mexico 35 0 35 Asia Total Stores Concessions Hong Kong 15 13 2 Japan 5 0 5 Middle East Total Stores Co
Slide 79: TFG Australia | Footprint
TFG Australia | Footprint Australia Total Stores Concessions Australia 563 520 43 New Zealand 47 47 0 TFG Results Presentation – for the full-year ended 31 March 2025 82
Slide 80: Disclaimer
DISCLAIMER This announcement contains certain forward-looking statements with respect to the financial conditions and results of operations of the Foschini Group Limited and its subsidiaries, which by their nature involve risk and uncertainty because they relate to events and depend on circumstances
TFG (The Foschini Group Limited) — FY2025 Earnings Presentation on 6ix