Rainbow Chicken Limited · JSE:RBO
Rainbow Chicken — FY2026 Earnings Presentation
31 slides from Rainbow Chicken's earnings presentation, Aug 28, 2026
Slide 1: Annual Financial Results for the year ended 28 June 2026
RAINBOW CHICKEN LIMITED ANNUAL FINANCIAL RESULTS for the year ended 28 June 2026
Slide 2: Disclaimer
DISCLAIMER Rainbow Chicken Limited (“Rainbow”) has made every effort to ensure the accuracy and completeness of the information in this presentation. However, the recipients should be aware that any information contained in this presentation has not been audited or reviewed by Rainbow’s external a
Slide 3: Agenda
AGENDA 01 SALIENT FEATURES & Marthinus Stander – CEO STRATEGIC REVIEW 02 FINANCIAL Kerry van der Merwe – CFO REVIEW 03 OPERATIONAL Wouter de Wet – COO REVIEW 04 PROSPECTS Marthinus Stander – CEO RAINBOW CHICKEN LIMITED ANNUAL RESULTS JUNE 2025 3
Slide 4: Salient Features & Strategic Review
SALIENT FEATURES & STRATEGIC REVIEW 01 Marthinus Stander | CEO
Slide 5: Reflections by the CEO
REFLECTIONS BY THE CEO A DEFINING YEAR WITH THE TURNAROUND PHASE SUCCESSFULLY DELIVERED Rainbow’s ambition is clear: to be South Africa’s market leading, best-in-class and low-cost chicken producer, delivering sustainable value to all stakeholders. Turnaround strategy is now successfully executed th
Slide 6: Key Highlights
KEY HIGHLIGHTS STRATEGY GAINING TRACTION, WITH CONSISTENT PROGRESS ACROSS OPERATIONS • The Group’s turnaround EBITDA1 EARNINGS HEADLINE REVENUE EBITDA¹ EARNINGS phase has been successfully delivered. R17,1 billion R2 136,0 million R1 341,4 million R1 353,2 million • Softer input costs 7.7% 101.8
Slide 7: Business and Strategy Model
BUSINESS AND STRATEGY MODEL Our five strategic pillars continue to provide a clear framework for execution, translating our long-term ambitions into focused action and measurable outcomes. Our business strategy is underpinned by a clearly defined, target-driven approach, with success dependent on di
Slide 8: Industry Matters
INDUSTRY MATTERS Avian Influenza remains a significant industry risk and recent Phase 2 of the Poultry Sector Master Plan prioritises import substitution, export development, competitiveness, transformation regulatory changes enabling poultry vaccination on a larger scale and inclusion. Greater alig
Slide 9: Financial Review
FINANCIAL REVIEW 02 KERRY VAN DER MERWE | CFO
Slide 10: Summary Consolidated Income Statement
SUMMARY CONSOLIDATED INCOME STATEMENT FOR THE YEAR ENDED 28 JUNE 2026 June June 2026 2025 Movement Movement R’000 R’000 R’000 % Revenue 17 054 561 15 838 044 1 216 517 7.7% Revenue R1,2 billion, up 7.7% EBITDA¹ 2 135 997 1 058 677 1 077 320 101.8% EBITDA R1,1 billion, up 101.8% EBITDA margin % 12.
Slide 11: Rainbow Historical Performance
RAINBOW HISTORICAL PERFORMANCE EBITDA¹ AND EBITDA MARGIN % 3 000 000 14.0% 12.5% 2 500 000 12.0% 2 135 997 10.0% 2 000 000 8.0% 1 500 000 6.7% 6.0% 1 058 677 1 000 000 4.4% 3.0% 4.0% 637 174 500 000 2.0% 336 211 38 644 15 059 0 0.0% 0.1% 0.3% 2021* 2022* 2023* 2024 2025 2026 EBITDA¹ EBITDA Margin ¹
Slide 12: Results Summary: EBITDA
RESULTS SUMMARY: EBITDA (R’000) EBITDA¹ MOVEMENT JUNE 2025 TO JUNE 2026 3 000 000 124 263 633 043 2 500 000 2 135 997 933 934 2 000 000 (613 920) 1 500 000 1 058 677 1 000 000 500 000 0 F25 F25 EBITDA Frontend Front End performance Performance Feed Cost Feed cost KPI's KPIs Other ( (incl. Other incl
Slide 13: Summary Consolidated Statement of Financial Position
SUMMARY CONSOLIDATED STATEMENT OF FINANCIAL POSITION (INCLUDING WORKING CAPITAL ANALYSIS) FOR THE YEAR ENDED 28 JUNE 2026 June June 2026 2025 Movement Net working capital as a % of revenue R’000 R’000 % Non-current assets 2 685 334 2 335 841 15.0% Non-current liabilities (877 858) (839 093) 4.6% 16.
Slide 14: Summary Consolidated Cash Flow Statement
SUMMARY CONSOLIDATED CASH FLOW STATEMENT (R’000) FOR THE YEAR ENDED 28 JUNE 2026 4 500 000 2 270 270 4 000 000 3 500 000 (445 026) (173 742) 3 000 000 (565 317) (33 863) 127 093 2 430 124 2 500 000 (167 874) (313 516) (74 391) 2 000 000 1 806 490 1 500 000 1 000 000 500 000 0 Opening cash EBITDA¹ Ne
Slide 15: Capital Investment
CAPITAL INVESTMENT FOR THE YEAR ENDED 28 JUNE 2026 June June 2026 2025 Movement R’000 R’000 % Depreciation, amortisation and impairment 373 777 361 991 3.3% Property, plant, equipment, intangible assets and investment property 322 862 300 655 7.4% Right-of-use assets 50 915 61 336 -17.0% Capital Inv
Slide 16: Operational Review: Chicken Division
OPERATIONAL REVIEW CHICKEN DIVISION Revenue R’000 EBITDA R’000 EBITDA Margin % 15 500 000 2 000 000 12% 1 800 000 10% 10.9% 15 000 000 1 600 000 15 029 580 1 631 297 1 400 000 8% 14 500 000 1 200 000 1 000 000 6% 14 000 000 800 000 13 969 395 4% 4.9% 600 000 685 229 13 500 000 400 000 2% 200 000 13
Slide 17: Operational Review: Animal Feed Division
OPERATIONAL REVIEW | CONTINUED ANIMAL FEED DIVISION Revenue R’000 EBITDA R’000 EBITDA Margin % 7 500 000 450 000 6% 7 389 236 5.6% 400 000 5% 394 293 7 000 000 7 100 109 350 000 4% 4.5% 329 199 300 000 3% 6 500 000 250 000 2% 200 000 1% 6 000 000 150 000 0% June 2026 June 2025 June 2026 June 2025 Ju
Slide 18: Operational Review: Waste-to-Value Division
OPERATIONAL REVIEW | CONTINUED WASTE-TO-VALUE DIVISION Revenue R’000 EBITDA R’000 EBITDA Margin % 120 000 120 000 120% 100 000 119 084 100 444 102 359 118.6% 100 000 100% 80 000 80 000 80% 60 000 60 000 40 000 60% 40 000 37 358 20 000 20 000 40% 36.5% 0 0 20% June 2026 June 2025 June 2026* June 2025
Slide 19: Summary of Financial Performance
SUMMARY OF FINANCIAL PERFORMANCE FOR THE YEAR ENDED 28 JUNE 2026 ROIC increased to 36.2% from 16.3%, demonstrating EBITDA more than doubled resulting in a significant disciplined capital allocation and strong value creation improvement in profitability and operating leverage. for shareholders. Enhan
Slide 20: Operational Review
OPERATIONAL REVIEW 03 WOUTER DE WET | COO
Slide 21: Maize Prices
MAIZE PRICES SAFEX yellow maize price (R/ton) 7 000 6 000 5 000 • Global and local maize markets normalised during F26, with improved crop yields driving increased grain availability and lower 4 000 commodity prices. • SAFEX yellow maize prices declined to approximately R3 200/ton by June 2026, 3 00
Slide 22: Soyabean Meal Prices
SOYABEAN MEAL PRICES CBOT (US$/ton) 600 500 • Global soybean meal markets remained well 400 supplied during F26, supported by strong South American harvests and high US crushing volumes, resulting in lower protein feed prices. 300 • Soybean meal prices declined to approximately US$307/ton by June 20
Slide 23: Currency
CURRENCY Rand/US Dollar exchange rate 20 19 18 17 • The Rand strengthened during F26, supported USD by improved investor sentiment, stronger commodity exports and positive fiscal 16 developments. • The Rand appreciated from R17.80/US$ to 15 approximately R16.40–R16.55/US$ by June 2026, reducing the
Slide 24: Feed
FEED SALES MIX vs PY Sales mix – FY2025 Sales mix – FY2026 9% 8% 18% 21% 962 100 tons 1 018 706 tons Volume increase = 5.9% 73% 71% Internal Sales External Poultry Other SALIENT FEATURES RAINBOW CHICKEN LIMITED ANNUAL RESULTS JUNE 2026 FINANCIAL REVIEW OPERATIONAL OPERATIONAL REVIEW REVIEW PROSPECTS
Slide 25: Chicken: Category Sales Mix
CHICKEN CATEGORY SALES MIX vs PY Sales mix – FY2025 Sales mix – FY2026 8% 8% 23% 26% 14% 14% 384 835 tons 389 592 tons Volume increase = 1.2% 20% 21% 34% 32% IQF Mixed portions Prime Frozen Fresh Secondary & Tertiary Further Processed SALIENT FEATURES RAINBOW CHICKEN LIMITED ANNUAL RESULTS JUNE 2026
Slide 26: Chicken: Channel Sales Mix
CHICKEN CHANNEL SALES MIX vs PY Channel mix – FY2025 Channel mix – FY2026 8% 8% 29% 384 835 tons 32% 389 592 tons Volume increase 60% 63% = 1.2% RWS QSR HORECA SALIENT FEATURES RAINBOW CHICKEN LIMITED ANNUAL RESULTS JUNE 2026 FINANCIAL REVIEW OPERATIONAL OPERATIONAL REVIEW REVIEW PROSPECTS STRATEGIC
Slide 27: Agricultural KPIs
AGRICULTURAL KPIS 120% 116% 111% 108% 109% 110% 103% 105% 109% 102% 103% 107% 106% 105% 99% 99% 103% 100% 96% 100% 95% 95% 94% 92% 97% 90% 86% 80% 83% 80% 76% 70% 2021 2022 2023 2024 2025 2026 Feed Conversion Mortality Performance Efficiency Factor Hatchability Average Daily Gain SALIENT FEATURES RA
Slide 28: Operational Review: Waste-to-Value Division
OPERATIONAL REVIEW WASTE-TO-VALUE DIVISION Waste-to-Value remains an important circularity and resource-resilience platform for Rainbow, converting poultry waste streams into renewable electricity, heat and recycled water. The Division showed encouraging financial and operational improvements compar
Slide 29: Prospects
PROSPECTS 04 MARTHINUS STANDER | CEO
Slide 30: Outlook
OUTLOOK CHICKEN PEOPLE DOING CHICKEN THINGS…. Rainbow Nourishing the Nation! Rainbow’s 2.0 strategy In a highly cyclical and commoditised industry, long-term Shifting from recovery to targeting growth, will extract further value success depends on disciplined execution and the innovation and further
Slide 31: Thank You
THANK YOU