H 
239.00
0.00%
Close of 9 Nov 2026, in ZAc
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Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.
At a glance
Figures in ZAR, from our data supplier.
Revenue
ZAR 13.05bn
FY2016FY2025
Net income
−ZAR 147.6m
FY2016FY2025
Free cash flow
−ZAR 287.1m
FY2016FY2025
Shareholders' equity
ZAR 3.67bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ZAR 13.05bn | ZAR 13.64bn | ZAR 13.80bn | ZAR 15.93bn | ZAR 13.01bn | ZAR 8.55bn | ZAR 10.71bn | ZAR 11.53bn | ZAR 10.30bn | ZAR 10.10bn |
| Gross profit | ZAR 1.18bn | ZAR 1.57bn | ZAR 1.88bn | ZAR 1.89bn | ZAR 1.64bn | ZAR 891.8m | ZAR 703.3m | ZAR 867.9m | ZAR 1.13bn | ZAR 1.14bn |
| Research and development | — | ZAR 10.8m | ZAR 10.8m | ZAR 3.8m | ZAR 9.5m | ZAR 3.8m | ZAR 7.3m | ZAR 7.1m | ZAR 4.6m | ZAR 5.4m |
| Operating income | ZAR 111.2m | ZAR 540.4m | ZAR 532.0m | ZAR 530.1m | ZAR 538.0m | ZAR 3.7m | −ZAR 1.41bn | ZAR 501.8m | ZAR 476.2m | ZAR 596.0m |
| Net income | −ZAR 147.6m | ZAR 246.3m | ZAR 271.8m | ZAR 299.7m | ZAR 591.3m | −ZAR 239.5m | −ZAR 1.20bn | −ZAR 773.4m | ZAR 332.2m | ZAR 384.9m |
| Diluted earnings per share | -0.48 | 0.76 | 0.84 | 0.89 | 1.79 | -0.74 | -3.77 | -2.42 | 1.00 | 1.20 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ZAR 7.45bn | ZAR 7.29bn | ZAR 6.25bn | ZAR 6.32bn | ZAR 5.88bn | ZAR 4.55bn | ZAR 4.26bn | ZAR 6.51bn | ZAR 7.23bn | ZAR 6.96bn |
| Cash and short-term investments | ZAR 59.8m | ZAR 21.8m | ZAR 189.9m | ZAR 81.3m | ZAR 149.5m | ZAR 38.0m | ZAR 95.3m | ZAR 526.0m | ZAR 11.6m | ZAR 6.2m |
| Total liabilities | ZAR 3.78bn | ZAR 3.50bn | ZAR 2.71bn | ZAR 3.09bn | ZAR 2.96bn | ZAR 2.18bn | ZAR 1.69bn | ZAR 2.71bn | ZAR 2.58bn | ZAR 2.61bn |
| Debt | ZAR 1.76bn | ZAR 1.37bn | ZAR 1.06bn | ZAR 978.9m | ZAR 853.0m | ZAR 856.8m | ZAR 398.6m | ZAR 819.8m | ZAR 428.7m | ZAR 652.4m |
| Shareholders' equity | ZAR 3.67bn | ZAR 3.79bn | ZAR 3.54bn | ZAR 3.23bn | ZAR 2.92bn | ZAR 2.37bn | ZAR 2.57bn | ZAR 3.80bn | ZAR 4.65bn | ZAR 4.35bn |
| Shares outstanding | 308m | 324m | 324m | 335m | 331m | 324m | 320m | 320m | 331m | 320m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | ZAR 283.8m | ZAR 45.4m | ZAR 363.3m | ZAR 60.2m | ZAR 238.8m | −ZAR 360.5m | ZAR 533.3m | ZAR 331.6m | ZAR 557.2m | ZAR 679.0m |
| Capital spending | −ZAR 570.9m | −ZAR 639.0m | −ZAR 311.6m | −ZAR 222.3m | −ZAR 154.4m | −ZAR 140.3m | −ZAR 311.3m | −ZAR 210.5m | −ZAR 261.0m | −ZAR 328.4m |
| Free cash flow | −ZAR 287.1m | −ZAR 593.6m | ZAR 51.7m | −ZAR 162.1m | ZAR 84.3m | −ZAR 500.8m | ZAR 222.0m | ZAR 121.1m | ZAR 296.1m | ZAR 350.6m |
| Dividends paid | — | — | — | — | — | — | −ZAR 58.2m | −ZAR 48.5m | −ZAR 48.5m | −ZAR 48.5m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Sept 2023 | Jun 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ZAR 7.24bn | ZAR 5.94bn | ZAR 7.10bn | ZAR 6.67bn | ZAR 6.59bn | ZAR 6.39bn | ZAR 3.20bn | ZAR 7.40bn |
| Gross profit | ZAR 856.2m | ZAR 434.0m | ZAR 746.4m | ZAR 503.5m | ZAR 1.06bn | ZAR 682.4m | ZAR 341.2m | ZAR 1.20bn |
| Operating income | ZAR 362.6m | −ZAR 52.6m | ZAR 164.5m | −ZAR 58.9m | ZAR 414.2m | ZAR 54.3m | ZAR 17.5m | ZAR 449.6m |
| Net income | ZAR 233.9m | −ZAR 123.4m | −ZAR 24.2m | −ZAR 10.6m | ZAR 257.0m | −ZAR 22.5m | −ZAR 11.3m | ZAR 294.3m |
| Diluted earnings per share | 0.72 | -0.40 | -0.08 | -0.03 | 0.79 | -0.07 | -0.03 | 0.91 |
| Cash from operations | ZAR 65.0m | ZAR 249.0m | ZAR 34.0m | ZAR 310.0m | −ZAR 278.0m | ZAR 391.0m | ZAR 189.0m | −ZAR 13.0m |
| Capital spending | −ZAR 123.0m | −ZAR 296.0m | −ZAR 273.0m | −ZAR 330.0m | −ZAR 301.0m | −ZAR 170.0m | −ZAR 63.0m | −ZAR 141.0m |
| Free cash flow | −ZAR 58.0m | −ZAR 47.0m | −ZAR 239.0m | −ZAR 20.0m | −ZAR 579.0m | ZAR 221.0m | ZAR 126.0m | −ZAR 154.0m |
| Total assets | ZAR 8.13bn | ZAR 7.45bn | ZAR 7.44bn | ZAR 7.29bn | ZAR 7.70bn | ZAR 6.25bn | ZAR 6.25bn | ZAR 6.88bn |
| Cash and short-term investments | ZAR 140.1m | ZAR 59.8m | ZAR 207.3m | ZAR 21.8m | ZAR 117.9m | ZAR 189.9m | ZAR 189.9m | ZAR 44.7m |
| Debt | ZAR 1.87bn | ZAR 1.72bn | ZAR 1.81bn | ZAR 1.36bn | ZAR 1.51bn | ZAR 1.01bn | ZAR 994.0m | ZAR 1.07bn |
| Shareholders' equity | ZAR 3.88bn | ZAR 3.67bn | ZAR 3.79bn | ZAR 3.79bn | ZAR 3.81bn | ZAR 3.54bn | ZAR 3.54bn | ZAR 3.54bn |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -6.4% | 8.8% | 4.5% |
| Operating income | -40.6% | 97.7% | 6.2% |
| Net income | — | -9.2% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 10.3% | 11.6% | 11.6% | 10.4% |
| Operating margin | 2.4% | 3.0% | 2.9% | 1.9% |
| Net margin | 0.4% | 1.2% | 1.3% | -0.1% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -5.1 | 4.6 | 3.5 | 3.5 | 2.6 | -3.0 | -0.6 | -1.8 | 6.2 | 4.4 |
| Price to sales | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.2 | 0.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 10 Apr 2019.
| FY2019 | FY2018 | FY2017 | FY2015 | FY2009 | FY2008 | FY2007 | |
|---|---|---|---|---|---|---|---|
| Paid in the year | 0.18 | 0.15 | 0.15 | 0.33 | 0.115 | 0.513 | 0.159 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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