Slide 1: Reviewed Annual Group Results for the year ended 31 August 2025
Reviewed Annual Group Results for the year ended 31 August 2025
Slide 2: Contents and key features
Contents Financial summary 2 Key features Commentary 3 Group turnover up Independent auditor’s review 5 report on condensed consolidated financial statements 5.3% Consolidated statement of 6 Retail turnover up comprehensive income Consolidated statement of financial position 7 6.0% Consolidated stat
Slide 3: Clicks Group healthcare market leader overview
As a leader in the healthcare market Clicks Group is committed to increasing access to affordable healthcare for all South Africans. Clicks is the country’s leading health, wellness and beauty retailer and foremost pharmacy chain, with an expanding network of over 990 stores and 780 pharmacies suppo
Slide 4: Financial summary
2 Financial summary Year to Year to 31 August 31 August % 2025 2024 change Consolidated statement of comprehensive income Turnover R’000 47 828 079 45 437 640 5.3% Gross profit R’000 11 399 653 10 632 419 7.2% Total income R’000 14 860 861 13 714 721 8.4% Headline earnings R’000 3 234 282 2 844 598
Slide 5: Commentary
3 Commentary Overview Retail costs grew by 7.9% mainly due to higher wage increases and increased pharmacy openings as well as higher utility Clicks Group once again demonstrated the resilience of its and card acquiring costs. Comparable retail costs grew by core product offering in a constrained tr
Slide 6: Commentary continued
4 Commentary continued Private label remains the primary driver of the group’s Shareholders are advised of the following salient dates in differentiation strategy. The group aims to sustain the strong respect of the final dividend: recent growth momentum in private label and exclusive brands, target
Slide 7: Independent auditor's report on review of condensed consolidated financial statements
5 Independent auditor’s report on review of the condensed consolidated financial statements To the shareholders of Clicks Group Limited Conclusion Based on our review, nothing has come to our attention that Introduction causes us to believe that the accompanying condensed We have reviewed the accomp
Slide 8: Consolidated statement of comprehensive income
6 Consolidated statement of comprehensive income Year to Year to 31 August 31 August % R’000 2025 2024 change Revenue 51 426 992 48 609 808 Turnover 47 828 079 45 437 640 5.3% Cost of merchandise sold (36 428 426) (34 805 221) 4.7% Gross profit 11 399 653 10 632 419 7.2% Other income 3 461 208 3 082
Slide 9: Consolidated statement of financial position
7 Consolidated statement of financial position As at As at 31 August 31 August R’000 2025 2024 ASSETS Non–current assets 8 351 031 7 930 394 Property, plant and equipment 3 087 950 2 845 032 Right-of-use assets 3 685 047 3 505 081 Intangible assets 941 551 946 363 Goodwill 215 371 209 114 Deferred t
Slide 10: Consolidated statement of changes in equity
8 Consolidated statement of changes in equity Number of shares Share Share R’000 ’000 capital premium Balance at 1 September 2023 241 161 2 412 1 064 953 Transactions with owners, recorded directly in equity Dividends paid to shareholders – – – Shares repurchased and cancelled (3 099) (31) – Total t
Slide 11: Consolidated statement of changes in equity (continued)
9 Foreign Cash flow Cost of currency hedge hedging translation Distributable Total reserve reserve reserve reserve equity (2 984) (6 166) (507) 4 907 106 5 964 814 – – – (1 675 960) (1 675 960) – – – ( 834 759) (834 790) – – – (2 510 719) (2 510 750) 21 267 (19 824) (8 326) 2 844 133 2 837 250 – – –
Slide 12: Consolidated statement of cash flows
10 Consolidated statement of cash flows Year to Year to 31 August 31 August R’000 2025 2024 Cash effects from operating activities Profit before working capital changes (refer note 1) 6 533 617 5 901 873 Working capital changes (refer note 2) 72 848 99 357 Cash generated by operations 6 606 465 6 00
Slide 13: Notes to the cash flow statement
11 Notes to the cash flow statement Year to Year to 31 August 31 August R’000 2025 2024 Cash flow information 1. Profit before working capital changes Profit before tax 4 433 428 3 893 808 Adjustment for: Non-cash flow items: Depreciation and amortisation 1 881 982 1 742 293 Fair value adjustments o
Slide 14: Segmental analysis
12 Segmental analysis For the year to 31 August 2025 Retail 1 Distribution 31 August 31 August 31 August 31 August R’000 2025 2024 2025 2024 Statement of financial position Property, plant and equipment 2 707 259 2 486 154 380 691 358 878 Right-of-use assets 3 671 255 3 473 435 13 792 31 646 Intangi
Slide 15: Segmental analysis (continued)
13 Intragroup elimination Total operations 31 August 31 August 31 August 31 August 2025 2024 2025 2024 – – 3 087 950 2 845 032 – – 3 685 047 3 505 081 – – 941 551 946 363 – – 215 371 209 114 (58 846) (181 140) 7 818 704 7 063 280 (1 078 610) (913 997) 3 139 516 3 057 282 – – 3 255 770 2 704 961 (5 0
Slide 16: Accounting policies and notes
14 Accounting policies and notes 1.1 The condensed consolidated financial statements for the year ended 31 August 2025 have been prepared in accordance with the framework concepts and the measurement and recognition requirements of IFRS ® Accounting Standards as issued by the International Accountin
Slide 17: Revenue and headline earnings reconciliation
15 1.5 Revenue (continued) 31 August 31 August % R’000 2025 2024 change Distribution turnover can be further disaggregated between the following categories: Fine wholesale 13 888 770 13 205 444 5.2% Clicks 8 116 146 7 414 243 9.5% Private hospitals 5 024 752 4 958 817 1.3% Independent pharmacies and
Slide 18: Store footprint and analysis of shareholders
16 Store footprint Clicks The Body Total Clicks Baby Shop Sorbet retail Number of stores at 31 August 2025 985* 6 55 14** 1 060 as at 31 August 2024 930 6 57 9 1 002 opened/acquired 58 – – 5 63 closed/disposed (3) – (2) – (5) Presence in Clicks stores at 31 August 2025 257 Number of pharmacies at 31
Slide 19: Definitions
17 Definitions Capital expenditure Interest–bearing debt, including cash, and lease payments, net of a tax charge at Maintenance capital expenditure to shareholders’ interest at year‑end the group’s effective tax rate, expressed as a Capital expenditure incurred in replacing Interest–bearing debt (i
Slide 20: Presentation: 2025 Annual results
18 Presentation 2025 Annual results for the year ended 31 August 2025 Contents 01 Review of the year 02 Financial results 03 Trading performance 04 Strategy and outlook 05 Questions 2 Clicks Group Annual Results 2025
Slide 21: Review of the year
19 01 Review of the year Bertina Engelbrecht 3 Review of the year • Performance continues to prove defensiveness of the group • Diluted HEPS up 14.1% • Return on equity of 49.2% • 30th birthday of Clicks ClubCard, 12.6m active members • Opened 990th Clicks store and 780th pharmacy • Market share gai
Slide 22: Financial highlights
20 Presentation 02 Financial Results Gordon Traill 5 Financial highlights Turnover up Total income margin Trading margin Diluted HEPS up 5.3% up from 30.2% to up from 9.2% to 14.1% Retail turnover up 6.0% 31.1% 9.8% to 1 361.7 cps UPD total managed turnover up 2.0% Cash generated Returned to Return
Slide 23: Turnover and total income
21 Turnover % same % stores % R’m 2025 2024 change growth inflation Retail 37 554 35 438 6.0 4.3 2.6 Distribution 18 658 17 750 5.1 1.3 Intragroup turnover (8 384) (7 750) 8.2 Total group 47 828 45 438 5.3 2.1 • 7.0% Retail turnover growth excluding Unicorn Pharmaceuticals in FY2024 • Retail value g
Slide 24: Trading expenditure – Retail and Distribution
22 Presentation Trading expenditure – Retail % R’m 2025 2024 change Depreciation – PPE 598 575 4.0 Depreciation – ROU asset 1 133 1 032 9.8 Occupancy costs 210 210 0.1 Employment costs 4 897 4 529 8.1 Other costs 2 483 2 290 8.4 Total retail costs 9 321 8 636 7.9 % of turnover 24.8% 24.4% Finance co
Slide 25: Trading profit and growth in turnover, profit and margin
23 Trading profit % 2025 2024 R’m 2025 2024 change % margin % margin Retail 3 932 3 628 8.4 10.5 10.2 Distribution 625 574 9.0 3.3 3.2 Intragroup 122 (30) Total group 4 679 4 172 12.1 9.8 9.2 • Retail margin is 10.8% including Unicorn intragroup profit • Intragroup a result of unwind of profit on Un
Slide 26: Inventory and cash management
24 Presentation Inventory Days in stock Inventory (R’m) 2025 2024 2025 2024 % change Retail 77 76 5 613 5 245 7.0 Distribution 45 42 2 265 1 999 13.3 Intragroup inventory (59) (181) Total group 78 74 7 819 7 063 10.7 • Retail inventories impacted by new stores opened in July & August and focus on av
Slide 27: Capital returned to shareholders and capital expenditure
25 Capital returned to shareholders 3 000 R’m 2 500 Total returned to date since 2006 of R22.3 billion (dividends R14.5 billion + 2 000 R7.8 billion buybacks at an average price of R47.33 – value of shares bought back at year end was R61.2 billion) 1 500 1 000 500 0 2006 2007 2008 2009 2010 2011 201
Slide 28: Medium-term financial targets
26 Presentation Medium-term financial targets Achieved Medium-term in FY2025 target ROE (%) 49.2 40 – 50 ROIC excluding IFRS 16 (%) 47.0 40 – 50 ROIC (%) 30.7 20 – 30 ROA (%) 14.9 11 – 15 Net working capital days 34 30 – 35 Group trading margin (%) 9.8 9.0 – 10.0 Retail 10.5 10.0 – 11.0 Distribution
Slide 29: Continued share price outperformance
27 Continued share price outperformance 600 600 10-year 500 500 CAGRs 400 400 Clicks Group share price: 300 300 15.1% 200 200 Food & Drug Retailers Index: 100 100 4.6% 0 0 Top 40 Index: Ma r-20 16 Ma r-20 17 Ma r-20 18 Ma r-20 19 Ma r-20 20 Ma r-20 21 Ma r-20 22 Ma r-20 23 Ma r-20 24 Ma r-20 25 Jun-
Slide 30: Clicks business review: retail sales performance
28 Presentation Clicks business review Clicks Group Annual Results 2025 21 Retail sales performance % change % contribution Pharmacy 6.9 26.8 Front shop health & baby 8.0 25.6 Beauty & personal care 7.4 32.5 General merchandise 4.4 15.1 Total turnover 7.0 100.0 • % changes exclude Unicorn Pharmaceut
Slide 31: Market shares and performance and strategy
29 Market shares % 2025 2024 Health Retail pharmacy* 24.0 23.8 Front shop health** 33.1 33.4 Baby** 23.1 22.3 Beauty Skincare** 43.8 43.6 Haircare** 32.8 32.8 Personal care** 22.7 22.1 General merchandise Small electrical appliances** 18.7 19.1 * Per IQVIA (Private Retail Pharmacy S1-6) (restated) *
Slide 32: Performance and strategy: private label and personalisation
30 Presentation Performance and strategy • Differentiating our product offer • R9.7bn sales of private label and exclusive brands • Private label +10.7% to 25.9% of sales (front shop 30.6%, pharmacy 12.3%) • Six private label products voted SA Product of the Year in their categories • Clicks Baby st
Slide 33: Performance and strategy: extending convenience
31 Performance and strategy • Extending convenience Format Total • 990* Clicks stores and 1 UniCare store Convenience 764 Destination 227 with 780 pharmacies and 225 clinics Total 991 • 53.2% of population < 5.0km of a pharmacy • Starting rollout of UniCare specialised format – two greenfield sites
Slide 34: UPD fine wholesale turnover and review of the year
32 Presentation Fine wholesale turnover 58.4% • Wholesale turnover up 5.2% Clicks (+9.5%) • Benefit of increased Clicks 36.2% Private Hospitals pharmacy openings; purchasing (+1.4%) compliance > 98% 5.4% • Hospital volumes +8.8% Independent Pharmacies and • Wholesale market share down other Channels
Slide 35: Strategy and outlook
33 04 Strategy and outlook Bertina Engelbrecht 31 Outlook • Macro-economic indicators improving, yet the consumer remains constrained • The group is well positioned due to: • Competitive advantage in defensive health and beauty sectors – with market-leading shares in core retail categories and in ph
Slide 36: Outlook (continued)
34 Presentation Outlook (continued) • Leveraging investments in LEAP pharmacy management system, UniCare, Sorbet and ARC Stores • Medium-term target of 1 200 Clicks stores • Plan to open 40 - 50 stores and pharmacies per year • Roll out of 10 - 15 UniCare specialised pharmacy format • Target of 35%
Slide 37: Disclaimer
35 Disclaimer Clicks Group has acted in good faith and has made every reasonable effort to ensure the accuracy and completeness of the information contained in this presentation, including all information that may be defined as 'forward-looking statements' within the meaning of United States securit
Slide 38: Notes
36 Notes Clicks Group Annual Results 2025
Slide 39: Slide 39
Slide 40: Corporate information
Corporate information Clicks Group Limited Company secretary Incorporated in the A Barnard, CA (SA) Republic of South Africa E-mail: companysecretary@clicksgroup.co.za Registration number Auditors 1996/000645/06 KPMG Inc. Income tax number 9061/745/71/8 Principal bankers JSE and A2X share code: CLS