Hosken Consolidated Investments Limited · JSE:HCI
Hosken Consolidated Investments — FY2026 Earnings Presentation
18 slides from Hosken Consolidated Investments's earnings presentation, May 27, 2026
Slide 1: HCI Results FY2026
HCI Results FY2026 Avior Presentation 27th May 2026
Slide 2: Rough overview of HCI results
Rough overview of HCI results Final 26 • Headline earnings Up 21% like for like • Head office debt (incl. O/D) R2 735m (FY25: R2606m) • Cash on hand at centre R188m (FY25: R646m) • Free cash generated in year (after overheads, interest and tax) R550m Total: R1137m • Use of cash: - Lynnridge refurbis
Slide 3: Cash from property sales pending transfer
Cash from property sales pending transfer • Sale of four properties to Sactwu (*) R 549m • Sale of four shopping centres (net cash to HCI) +/-R 915m • Total additional cash on completion R1 464m (*) Sactwu properties were sold on loan account. Sactwu will acquire 54,5% and control of Squirewood on l
Slide 4: HCI Group Headline Earnings (R'000)
HCI GROUP HEADLINE EARNINGS (R’000) (Seven cash producing subsidiaries) Actual 12 Actual 12months months March March 2025 2026 1. Gaming 794,651 747,448 6,3% 2. Hotels 499,409 415,222 20,3% 3. Transport 318,575 315,277 1,0% 4. Media and Broadcasting 185,840 187,219 (1,0%) 5. Coal Mining 178,639 63,7
Slide 5: 1. Gaming
747,448 1. Gaming 794,651 Performance: • Consolidating turnaround: • Headline earnings are up 6,3% on last year and more on HE/s • Debt reduced by R700m • R438m spent on share repurchases • R466m spent on dividends and • R756m spent on refurbishments • Online stable with positive Ebitda each month a
Slide 6: 2. Hotels
2. Hotels 499,409 415,222 Performance: • Headline Earnings 20% up on last year Developments: • Refurbishment of Seychelles complete • Maharani/Elangeni 40 years lease signed • Cape Town, Bloemfontein and two Umhlanga hotel builds being planned
Slide 7: 3. Transport
315,277 3. Transport 318,575 Performance: • Good performance albeit passenger numbers remain under pressure as reported at interims Developments: • 120 Electric vehicles in service. • Advised our bid for renewed MyCiTi Phase 1 tender has been successful • Key negotiations in progress for participati
Slide 8: 4. Media and broadcasting
4. Media and broadcasting 185,840 187,219 Performance: • HE flat • TV Ad spend remains under pressure • Open View Users growing @ 20K/m. Approaching 4 million households • eVOD still growing quickly. Currently 172 million minutes watched (April) Developments: • VFX studios building completed. 1st st
Slide 9: 5. Coal Mining
5. Coal Mining 63,756 178,639 Peformance: • Great performance under difficult circumstances • Good cost containment to operate on smaller volumes • New contract has allowed improved earnings from last year. • Disappointing volumes drawn by Eskom in second half with smelters closing. Developments: •
Slide 10: 6. Branded products and manufacturing (Deneb)
6. Branded products and 99,233 manufacturing (Deneb) 154,114 Peformance: • Best Performance to date • Revenue 15,7% up • Profits 55,3% up • Debt R146m down (32,5%) Developments: • Properties sold but awaiting transfer R168m
Slide 11: 7. Properties
7. Properties 119,926 83,333 Performance: • HE 44% up • LTV 40,5% Developments: • Completed Lynnridge redevelopment • Closed lease extension on Dentsu building • Sold four properties to SACTWU for R549m (pending transfer) • Sold four shopping centres for R915m net to HCI (pending transfer)
Slide 12: HCI Headline Earnings (R'000) Continued
HCI HEADLINE EARNINGS (R’000) CONTINUED Actual FY 26 Actual FY 25 8. Oil and Gas (66,375) (296,532) Prospecting 9. Palladium (25,340) (21,394) Prospecting 10. Other (180,018) (155,989) 11. Central Debt (203,127) (224,780) Sub Total (474,860) (698,695) Total 1,776,294 1,212,793 46,5%
Slide 13: Start ups
Start ups Self Funding Start Ups 1. Namibian oil (part of IOG) 2. PTM 3. Inrange Golf Start Ups Requiring HCI Funding 3. Transkei/Area 2/ ORBD (balance of IOG) 4. AEC 5. Mossel Bay power 6. H2Au
Slide 14: 8. Oil and gas prospecting
8. Oil and gas prospecting (296,532) (66,375) Namibia: • FID now expected Q2 2026 • Active discussions with Namibian authorities regarding terms of PR rights Transkei/Area 2/ Orange River Basin Deep • Constitutional Court hearing on Transkei held. Awaiting judgment. • HCI increasing its stake in all
Slide 15: 9. Palladium Prospecting
9. Palladium Prospecting (25,340) (21,394) • Value of commodity basket quite volatile with consequent share price volatility. • Company has raised $45m through its ATM • Currently doing a feasibility study on viability of starting mining on a smaller scale to start with. Should be complete by end of
Slide 16: 10. Inrange Golf (In Other)
10. Inrange Golf (In (14,112) Other) (3,254) Performance: • All metrics of its performance good and outperforming budget Developments: • Expanded number of operating sites to 87 live sites. • Good growth pipeline in USA • Negotiated additional bank funding (currently drawn R100m) • Ebitda for their
Slide 17: 10. H2Au (In Other)
10. H2Au (In Other) H2Au included here: This is a startup intending to drill for free hydrogen • It has targeted three prospects currently (Kansas, Iowa and Mpumalanga) • HCI is a 61% shareholder. Founders and management holding balance • We have funded it $2,1m and have committed a further $866k th
Slide 18: Thank You
Thank You
Hosken Consolidated Investments — FY2026 Earnings Presentation on 6ix