KAL GROUP LIMITED - Audited Consolidated Financial Statements For The Year Ended 30 September 2024 And Dividend Declaration

Audited Consolidated Financial Statements For The Year Ended 30 September 2024 And Dividend Declaration

KAL GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2011/113185/06)
Share code: KAL
ISIN: ZAE000244711
("KAL" or the "Company")



AUDITED CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 
30 SEPTEMBER 2024 AND DIVIDEND DECLARATION


1.   SALIENT FEATURES

     Revenue R21.73 billion, decreased by 3.0% (30 September 2023 ("LY"): R22.40 billion).

     Gross profit R2.97 billion, increased by 1.9% (LY: R2.92 billion).

     EBITDA R859.3 million, decreased by 4.4% (LY: R898.6 million).

     Profit before taxation R641.3 million, decreased by 7.3% (LY: R691.8 million).

     Earnings per share 562.26 cents per share, decreased by 7.4% (LY: 607.45 cents per share).

     Headline earnings per share 561.58 cents per share, decreased by 9.2% (LY: 618.31 cents
     per share).

     Recurring headline earnings per share 561.58 cents per share, decreased by 9.4% (LY:
     619.69 cents per share).

     Net cash from operating activities R848.8 million, decreased by 1.8% (LY: R864.6 million).

     Net interest-bearing debt to equity reduced to 51.3% (LY: 61.9%).

     Net interest-bearing debt to EBITDA reduced to 1.8 times (LY: 2.0 times).

     Total dividend 180.00 cents per share, unchanged from LY.

2.   DIVIDEND DECLARATION

     Despite the subdued trading performance, the Board has approved a total dividend for the
     year in line with the prior year, on the back of strong cash management and significantly lower
     debt levels. A gross final dividend of 126.00 cents per share (2023: 130.00 cents per share)
     has been approved and declared by the Board from income reserves, for the period ended
     30 September 2024. The final dividend amount, net of South African dividends tax of 20%, is
     100.80 cents (2023: 104.00 cents) per share for those shareholders not exempt from dividend
     tax or who are not entitled to a reduced rate in terms of an applicable double tax agreement.
     Including the interim dividend, the total dividend for the year ended
     30 September 2024 of 180.00 cents per share is unchanged from the prior year. The total
     dividend per share represents a dividend cover of 3.0 times (2023: 3.3 times).

     The salient dates for this dividend distribution are:

     Declaration date                                                 Tuesday, 26 November 2024
     Last day to trade cum dividend                                   Tuesday, 11 February 2025
     Trading ex dividend commences                                  Wednesday, 12 February 2025
     Record date to qualify for dividend                               Friday, 14 February 2025
     Date of payment                                                   Monday, 17 February 2025
     
     Share certificates may not be dematerialised or rematerialised between Wednesday,
     12 February 2025 and Friday, 14 February 2025, both days inclusive. 

     The number of ordinary shares in issue at declaration date is 74 319 837, the income tax
     number of KAL is 9312717177 and the Company registration number is 2011/113185/06.

3.   SHORT-FORM ANNOUNCEMENT

     This short-form announcement is the responsibility of the directors of the Company. It
     contains only a summary of the information in the full annual financial statements
     ("Full AFS") and does not contain full or complete details. The Full AFS can be found at:
     https://senspdf.jse.co.za/documents/2024/JSE/ISSE/KALE/KALSept24.pdf

     A copy of the Full AFS is also available for viewing on the Company's website at:
     https://www.kalgroup.co.za/s3/year-end-results-30-sept-24

     Shareholders are reminded that the Company will be hosting a webcast at 10:00 am today,
     Tuesday, 26 November 2024, to present the results to shareholders and the market.

     For shareholders' convenience, the webcast registration details and link are included below:

     - View and listen mode, with a Q&A facility
     - Link: www.corpcam.com/KALGroup26112024

     Any investment decisions by investors and/or shareholders should be based on consideration
     of the Full AFS, as a whole.

     The Full AFS have been audited by the Company's auditors, Deloitte & Touche, who
     expressed an unmodified audit opinion thereon.


Paarl
26 November 2024

Sponsor
PSG Capital  

Date: 26-11-2024 08:00:00
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