Metair Investments Limited · JSE:MTA
Metair Investments — H1 2025 Earnings Presentation
22 slides from Metair Investments's earnings presentation, Sep 10, 2025
Slide 1: Results Presentation for the 6 months ended 30 June 2025
RESULTS PRESENTATION for the 6 months ended 30 June 2025 RESET AND GROWTH IN A SUSTAINABLE MANNER WITH A FOCUS ON AFRICA 10 September 2025
Slide 2: Agenda
AGENDA 1 CEO UPDATE & OPERATIONAL REVIEW 2 FINANCIAL REVIEW 3 OUTLOOK AND PROSPECTS 4 Q&A 2
Slide 3: CEO Update & Operational Review: Paul O'Flaherty
1 CEO UPDATE & OPERATIONAL REVIEW: PAUL O’FLAHERTY
Slide 4: 1H 2025 – Reset is done, growth is underway
1H 2025 – RESET IS DONE, GROWTH IS UNDERWAY Operating environment Highlights External trends Reshaping the portfolio • Stable performance from Metair OEM customers, in line • Hesto fully consolidated from 1 April 2025 with Metair expectations • Closures of: ATE manufacturing line, First Battery Indu
Slide 5: 1H 2025 Highlights
1H 2025 HIGHLIGHTS Revenue EBITDA R8 657 m R716 m 53% 40% Hesto Volume recovery, All debt EBIT Margin consolidated with cost savings and EBIT effect from 1 April covenants met efficiencies 2025 R450m 5.2 % contribute to improved 27% 1ppt performance HEPS HEPS (Total) (continuing operations) 65 cps 7
Slide 6: Strategy Update
STRATEGY UPDATE Organisational enhancements Diversification strategy • July 2025 – appointment of new CFO • AutoZone to grow aftermarket sales channel • New verticals in place: • Strategy to diversify into new markets and regions › OEM (OEM Direct Component Manufacturing) › Expand customer base and
Slide 7: Vehicle Volumes
VEHICLE VOLUMES SOUTH AFRICA SA motor vehicle production – passenger cars and LCVs (‘000) 700 649 • US accounts for 6.5% of SA vehicle exports 615 616 600 541 • Primarily Mercedes impacted 503 500 417 • Metair OEM customers do not export to US 400 300 270 282 • Chinese and Indian brands account for
Slide 8: Operational Performance
OPERATIONAL PERFORMANCE AUTOMOTIVE COMPONENTS MANUFACTURING AFTERMARKET PARTS AND RETAIL Products Products Wiring harnesses, instrument Automotive batteries, solar cluster / combination REVENUE GROUP REVENUE GROUP systems, back-up systems, meters, moulded parts REVENUE standby systems, charging REVE
Slide 9: Financial Review: Alastair Walker
1 2 FINANCIAL REVIEW: ALASTAIR WALKER
Slide 10: 1H 2025 Results Summary
1H 2025 RESULTS SUMMARY REVENUE(1) EBITDA(1)(3) EBIT(1)(2) GROUP NET DEBT increased 53% to increased 40% to increased 27% to increased to R8.7bn R716m R450m R5.1bn(4) (H1’24: R5.7bn) (H1’24: R513m) (H1’24: R354m) (Dec’24: R2.7bn) Total HEPS HEPS(1) Total EPS ROIC Increased by 68 cents to From contin
Slide 11: Group Results
GROUP RESULTS Turnover increases from R5.7bn to R8.7bn and EBITDA increases from R513m to R716m Income statement H1’2025 H1’2024 FY2024 Continuing Continuing Continuing Balance sheet H1’2025 H1’2024 FY2024 operations operations operations Group Group Group as reported as reported as reported reporte
Slide 12: Segmental Summary Analysis
SEGMENTAL SUMMARY ANALYSIS OEM SEGMENT AFM SEGMENT Group R’million H1’2025 H1’2024 Var. H1’2025 H1’2024 Var. H1’2025 H1’2024 Var. Reported revenue 5 491 3 287 67% 3 166 2 385 33% 8 657 5 672 53% EBITDA 535 285 88% 235 242 (3%) 716 513 40% EBIT 387 197 96% 118 174 (32%) 450 354 27% EBIT % 7.0% 6.0% 1
Slide 13: Cash Flow Bridge
CASH FLOW BRIDGE Increase Decrease Total R’ million R’ million R' million Inventory 73 Total debt raised 4 858 Capex (141) Trade and other receivables (842) Total debt repaid (4 678) Loans to related parties (185) Leases (79) R’ million 722 ( 844) Trade and other payables (75) Other investing 56 (84
Slide 14: Capital Structure
CAPITAL STRUCTURE 3 300 1 372 ( 438) 1 464 114 5 194 (3 275) ( 934) ( 31) ( 79) 3 515 186 Dec 2024 (1) Bridge Hesto Take-on SA Obligor Metair Group Hesto facilities Hesto Std Bank Hesto trade Rombat New leases Lease payments Jun-25 facility raised debt facility raised facilites repaid raised facilit
Slide 15: Capital Structure (continued)
CAPITAL STRUCTURE (CONTINUED) More sustainable debt structure and terms Debt maturity (R’ million) • Capital restructuring plan approved 10 March 2025 • Repayment profile matches expected earnings growth and cash 16 136 flows over five years 182 128 • Focused strategies to enhance cash generation 65
Slide 16: Disciplined Capital Allocation
DISCIPLINED CAPITAL ALLOCATION Optimising return on capital Return on Invested Capital (ROIC) vs Cost of Capital METAIR WACC: 18 16.4% 14.5% Metair financial return criteria: 14.5% • Return on invested capital (ROIC) 12 11.1% 8.5% • Return on assets 7.1% 6 4.5% 5.2% • Internal rate of return • Cash
Slide 17: Outlook and Prospects: Paul O'Flaherty
1 3 OUTLOOK AND PROSPECTS: PAUL O’FLAHERTY
Slide 18: Outlook
OUTLOOK Progress to stabilise and reset our businesses on a growth path • Good progress made in turnaround strategy › Continuation of initiatives commenced in 2024 to restructure, right-size operations, stringent focus on efficient project management to ensure a more agile, dynamic business particul
Slide 19: Disclaimer
DISCLAIMER This report contains forward-looking statements that relate to Metair’s future operations and performance. Such statements are not intended to be interpreted as guarantees of future performance, achievements, financial or other results. The statements rely on assumptions and future circum
Slide 20: Q&A
M EIA! R INVESTMENTS LIMITED Q&A
Slide 21: Appendix
M EIA! R INVESTMENTS LIMITED APPENDIX
Slide 22: Hesto Take On Balances – 1 April 2025
HESTO TAKE ON BALANCES – 1 APRIL 2025 1 April 2025 Apr to Jun BALANCE SHEET R’million 2025 H1’2025 H1’2024 PPE & intangibles 1 131 INCOME STATEMENT R’ million R’ million R’ million Deferred tax assets 350 Total non-current assets 1 481 Revenue 2 044 3 087 2 875 Trade and other receivables 777 Invent