Ca Sales Holdings (pty) Ltd. · JSE:CAA
Ca Sales Holdings (pty) — CA&S Group — H1 2026 Earnings Presentation
40 slides from Ca Sales Holdings (pty)'s earnings presentation, Aug 20, 2026
Slide 1: Interim Results
Interim Results Half Year ending 30 June 2026 20 August 2026
Slide 2: Our Disclaimer
Our Disclaimer 1. This presentation has been prepared by, and is subject to the copyright of, CA&S Group. No part of this presentation may be reproduced, transmitted, stored in a retrieval system, or translated in any other language in any form, by any means without the prior written consent of CA&S
Slide 3: Agenda
Agenda 01 About CA&S 02 Interim Results 03 Segmental Overview 04 Outlook 05 Corporate Activity 06 Questions
Slide 4: About CA&S
About CA&S
Slide 5: Group Footprint
Namibia Zambia Group Footprint Botswana Kenya o 10 countries o 18 950+ employees o Ave. business’ est. 29 yrs+ Lesotho Uganda o 363 clients o 1 757 brands represented o 14+ FMCG categories o 169 000+ doors serviced Eswatini Tanzania o 300 million consumers South Africa Zimbabwe
Slide 6: What we do for FMCG brand owners
Physical Commerce Drive discovery & What we do for Digital Commerce demand online FMCG brand Drive Client Manufacture / demand in- owners Imports store 8 Merchandise 1 We connect brands digital shelves & manage retail Distribute to to consumers across media placement CA&S | Manage 7 complex markets
Slide 7: Powering leading brands across categories & formats
Powering leading brands across categories & formats
Slide 8: Our collective service offerings by country
Our collective service offerings Available In Progress Not available Warehousing & Retail Execution & Retail Support Data & Countries Connected Commerce Distribution Advisory Services Technology CA Sales, SMC Brands, CA Sales, SMC Brands, Botswana Smithshine Smithshine CA Sales Activate, KTI Macmobi
Slide 9: What powers our delivery
What powers our delivery Connectivity across markets: Local expertise, connected at scale and powered by insight, delivers value greater than the sum of its parts 08 Good Financial Health: Strategic, invested leadership & quality Healthy balance sheet, strong operating 07 01 workforce: Learn, share
Slide 10: Financial Results
Financial Results
Slide 11: Overview of the Half Year 2026
Overview of the Half Year 2026 Net Asset Revenue EBITDA Operating Headline HEPS Value per Profit Earnings Share 2.2% 3.0% 2.3% 6.4% 5.9% 11.8% R 6.08bn R412m R342m R257m 53.41 cents 765.50 cents H1 2025: H1 2025: H1 2025: H1 2025: H1 2025: H1 2025: R5.96bn R400m R335m R242m 50.44 cents 684.69 cents
Slide 12: Income Statement
Income Statement R'000 H1 2026 H1 2025 % Growth Revenue 6 083 308 5 955 147 2.2% EBITDA 411 943 399 975 3.0% Profit after tax 264 539 252 396 4.8% Headline earnings 257 133 241 718 6.4% Headline Earnings per Share (cents) 53.41 50.44 5.9%
Slide 13: Revenue
Revenue H1 2026 5% 18% R'000 H1 2026 H1 2025 % Growth 42% 19% Botswana 2 579 877 2 826 545 (8.7%) 16% Eswatini 997 830 898 871 11.0% H1 2025 Namibia 1 135 953 1 066 194 6.5% 3% 17% South Africa 1 087 187 989 173 9.9% 18% 47% Other countries 285 450 174 863 63.2% 15% Botswana Eswatini Namibia South A
Slide 14: Balance Sheet
Balance Sheet R'000 H1 2026 H1 2025 FY 2025 Non-current Assets 2 082 956 1 720 355 1 757 425 Current Assets 4 295 973 4 125 395 4 553 064 Total Assets 6 378 929 5 845 750 6 310 489 Non-current Liabilities 434 037 341 937 283 700 Current Liabilities 2 168 536 2 167 604 2 286 837 Total Liabilities 2 6
Slide 15: Working capital levels
Working capital levels R'000 Days H1 2026 Days H1 2025 Days FY2025 Receivables 61 2 055 095 59 1 927 608 55 1 931 238 Inventory 35 982 821 33 892 866 34 979 779 Payables 58 1 633 087 48 1 308 913 51 1 447 701 Net Working Capital 38 1 404 829 44 1 511 561 38 1 463 316 Sunpac (acquired 1 June 2026) op
Slide 16: Cashflow
Cashflow R'000 H1 2026 H1 2025 Profit from Operations 433 837 357 099 Working Capital 42 617 (55 372) Taxation (123 329) (105 923) Net Interest 22 326 12 698 Operational Cash Generated 375 451 208 502 Investments (145 984) (108 995) Capex (128 389) (73 463) Free Cashflow 101 078 26 044 Acquisitions
Slide 17: Segmental Overview
caé&s group Segmental Overview
Slide 18: Botswana Country Review
Botswana Country Review Financial Performance Overview R'000 H1 2026 H1 2025 % Change o Stronger cash generation from tighter inventory control and improved collections Revenue 2 579 877 2 826 545 (8.7%) o Operational efficiencies and network optimisation by improving EBIT 118 886 131 865 (9.8%) res
Slide 19: Eswatini Country Review
Eswatini Country Review Financial Performance Overview R'000 H1 2026 H1 2025 % Change o Construction of the Logico Mega Park on time - to support operational consolidation and Revenue 997 830 898 871 11.0% scale o Continued investment in people, EBIT 73 967 66 639 11.0% systems and infrastructure to
Slide 20: Namibia Country Review
Namibia Country Review Financial Performance Overview R'000 H1 2026 H1 2025 % Change o Strengthened cold-chain service reliability Revenue 1 135 953 1 066 194 6.5% o Continued operational efficiency initiatives including EBIT 32 399 29 851 8.5% fuel optimisation, route planning and stock-loss contro
Slide 21: South Africa Country Review
South Africa Country Review Financial Performance Overview R'000 H1 2026 H1 2025 % Change o Acquisition of Sunpac - a leading South African Revenue 1 087 187 989 173 9.9% distributor and turnkey route- to-market partner to a portfolio EBIT 103 623 88 661 16.9% of prominent international brand owners
Slide 22: East Africa Country Review
East Africa Country Review Financial Performance Overview * R'000 H1 2026 H1 2025 % Growth o Increased ownership of Tradco Group to 55%, Revenue 452 213 386 815 16.9% effective 1 July 2026 o Established new 4,200m² EBIT 24 049 39 140 (38.6%) distribution and warehouse facility EBITDA 25 466 40 654 (
Slide 23: Lesotho, Kenya, Tanzania, Uganda, Zambia, Zimbabwe
Lesotho, Kenya, Tanzania, Uganda, Zambia, Zimbabwe Financial Performance Overview *R'000 H1 2026 H1 2025 % Growth o Expanded multinational FMCG client participation across all markets Revenue 285 450 174 863 63.2% o Strengthened regional distribution EBIT 13 466 17 631 (23.6%) footprint through geog
Slide 24: Outlook: Strategic Growth Priorities
Outlook Strategic Growth Priorities
Slide 25: What do brand owners really want from CA&S?
Start with the customer What do brand owners really want from CA&S? 1 AVAILABILITY The right product, in the right place, at the right time. 2 GROWTH More sales, better share and stronger in-market performance. 3 VISIBILITY A clear view of what is happening - and what must happen next. 4 CONFIDENCE
Slide 26: Our real moat is execution.
Our advantage Our real moat is execution. Technology can be copied. Relationships, infrastructure, workforce and execution at scale are much harder to replicate. Power BI dashboards LOW AI models LOW–M EDIUM Data platforms M EDIUM Proprietary operating data M EDIUM –HIGH Retailer relationships HIGH
Slide 27: Technology Enables. Execution Delivers.
Technology Enables. Execution Delivers. Data identifies the opportunity or risk. Our people, relationships and market reach convert it into commercial results. Insight Feet on the Ground Growth Data tells us where + People who manage / fix = Sales, share, availability the opportunity / risk is avail
Slide 28: Outlook: group priorities
Outlook: 5 group priorities 1: Southern Africa: Deepen & defend More stores, channels, and services 2: East Africa: Scale - high growth potential Client-led growth – infrastructure for distribution 3: Omnichannel (e-commerce): Incubate & accelerate Existing client eco-system participation 4: Private
Slide 29: From Brand Owner to Consumer
From Brand Owner to Consumer Brand / › Factory › Warehouse › Distribution › Store › Execution › Consumer Manufacturer Forecasting & Market Trends & SAP & Warehouse Route Optimisation Image POS Inventory Pricing& Ranging Insights Management & Live Tracking Recognition Data Management Sales Insights S
Slide 30: Customer and Market Data
Customer and Market Data Internal Data Customer Data Commercial Cockpit Price & Promo S & OP Predictive Ordering Demand/ Sales In Daily Scan sales out Profitability Store stock levels On Shelf Staff Allocation Distribution Distribution Availability Trade Term Spend Service Levels Pricing Margin, Pro
Slide 31: Corporate Activity
” Corporate NN Activity
Slide 32: Recent Acquisition: Sunpac
Recent Acquisition : Sunpac Private label exposure | Platform expansion | Global sourcing capability • Majority shareholding in Sunpac long established distributor and route-to-market partner to leading international brand owners and retailers • Vertically integrated model global sourcing, regulator
Slide 33: SA's Main Market - Access. Presence. Performance.
SA’s Main Market - Access. Presence. Performance.
Slide 34: East Africa - a vibrant growing market
East Africa - a vibrant growing market
Slide 35: Recent Acquisition: TDMC
Recent Acquisition : TDMC E-commerce | Performance Marketing | CRM • CA&S Group has acquired a strategic 30% shareholding in TDMC, with option to increase • The investment strengthens CA&S’s digital commerce and omnichannel growth strategy • TDMC adds specialist capability in e-commerce, performance
Slide 36: Recent Acquisition: Pantry Club
Recent Acquisition : Pantry Club Connected Commerce | Digital Engagement | Reliable Fulfilment • CA&S Group has acquired a controlling stake in Pantry Club • The investment strengthens CA&S Group’s connected commerce strategy in Africa • Pantry Club adds digital ordering, payment, fulfilment and rep
Slide 37: Unlocking the Next Wave of Growth
Unlocking the Next Wave of Growth Four structural growth drivers reshaping African commerce Private / Confined GROWTH PLATFORMS Social / Digital Media E-Commerce Traditional Trade Label • African internet users • Africa forecast to exceed • Informal channels = 40%– • 60% would buy more projected 600
Slide 38: Outlook
Outlook Steady long-term demand growth in African consumer markets Continued outsourcing by global and regional brand owners Ongoing investment in infrastructure and operational capability Disciplined expansion across East Africa Continued focus on operational efficiency and cash generation
Slide 39: Questions
ca&s Questions Z mt |
Slide 40: Thank You
Thank You investor@cas.group www.cas.group LinkedIn