Performance overview

Financial performance

Revenue

Revenue Contribution
Revenue Contribution
* Excludes Head Office and Eliminations.

 

Operating profit

Operating profit
Operating profit
* Excludes Head Office and Eliminations.
# Operating profit before capital items and net foreign exchange gains/(losses).
^ Adjusted for the re-presentation to include share of results from associates and joint ventures in operating profit.

 


Revenue

R91 978 million (2021: R87 205 million)

 5%


EBITDA

R6 785 million (2021: R5 302 million)

 28%

Profit before tax

R4 473 million (2021: R2 860 million)

 56%

Attributable profit

R3 290 million (2021: R2 098 million)

 57%

Headline earnings per share

2 025 cents
per share (2021: 1 179 cents per share)

 72%

Net asset value per share

8 143 cents
per share (2021: 6 586 cents per share)

 24%

Free cash flow
generated from operations

R4 835 million (2021: R5 904 million)

Net debt to equity

36% (2021: 28%)

Return on invested capital3

17,8% (2021: 14,8%)

Weighted average cost of capital3

10,9% (2021: 9,5%)

Net debt to EBITDA4
(debt covenant)

0,8 times (2021: 0,8 times)
Required: to be less
than 3 times

EBITDA to net interest4
(debt covenant)

17,9 times (2021: 10,9 times)
Required: to be greater
than 3 times

Operating profit1

R5 029 million (2021: R3 838 million2)

 31%

Earnings per share

1 902 cents per share (2021: 1 153 cents per share)

 65%

Total dividend per share

710 cents per share (paid interim dividend of 275 cents per share)
(2021: 415 cents per share)

 71%

1 Operating profit before capital items and net foreign exchange gains/(losses).
2 Adjusted for the re-presentation to include share of results from associates and joint ventures in operating profit.
3 The return on invested capital and weighted average cost of capital is prepared on a 12-month rolling basis.
4 Calculated by applying the funders covenant methodology.

 

Non-financial performance

Environment

Water

609 191 kilolitres purchased
(2021: 570 089 kilolitres)
 

Electricity

70 108 megawatt
hours purchased
(2021: 73 317 megawatt hours)

 61%

Environmental compliance

No environmental-related
fines or penalties incurred

Carbon footprint*

111 841 tCO2e (2021: 117 9821 tCO2e)
* Scope 1 and 2 emissions.
1 2021 restated due to a change in carbon emission factors applied to better reflect the South African environment.

Social

Black representation

75% of the Group's
South African
workforce
(2021: 73%)

CSI spend

R30 million (2021: R18,6 million)

 61%

Women representation

32% of the Group's workforce
(2021: 31%)

South African training spend

R166 million (2021: R144 million)

 15%

Governance

FTSE4Good Index Series

3,3 out of 5 overall score achieved and 5,0 out of 5 for governance
(2021: 3,8 out of 5 overall)
 

Satrix Inclusion and Diversity ETF

Recognised as one of the 30 most inclusive and diverse organisations on the JSE

Secured a sustainability-linked funding facility worth R6 billion and a working capital facility of R800 million. Targets achieved result in a favourable interest rate or an increase in the interest rate if not achieved.

For more information, refer to our environmental, social and governance reports . 

For more information, read about our ESG performance and objectives online in our ESG report.

 

Segment overview

Import and Distribution

22%
of Group
revenue

28%
of Group
operating profit

6,3%
operating
margin

Retail and Rental

68%
of Group
revenue

41%
of Group
operating profit

3,0%
operating
margin

A diversified business in the automotive industry

  • Exclusive South African importer of Hyundai, Kia, Renault and Mitsubishi
  • Operates in South Africa and neighbouring countries
  • Exclusive distribution rights for Nissan in four East African countries
  • ~24,5% passenger only vehicle market share in South Africa
  • Car parc >750 000 vehicles

South Africa

  • Represent 23 OEMs: ~345 dealerships
  • ~22,4% retail market share
  • Car rental (Europcar and Tempest): 113 branches in Southern Africa
  • ~29% rental market share

United Kingdom

  • Represent 19 OEMs
  • 81 commercial dealerships
  • 33 passenger dealerships

Australia

  • Represent 20 OEMs
  • 36 passenger dealerships

Mobility Solutions

  • Developer, manager and administrator of vehicle-related financial products and services to >740 000 vehicles including third party products under administration
  • Provider of fleet management services
  • Provider of business process outsourcing through sophisticated technology and call centre capabilities
  • Leading the Group's innovation centre

2%
of Group
revenue

19%
of Group
operating profit*

Aftermarket Parts

  • Distributor, wholesaler and retailer of parts and accessories for mainly out-of-warranty vehicles
  • Operates in Southern Africa, South East Asia and the UK
  • 518 franchised outlets (62 owned) supported by 43 wholesale distribution points (40 owned)
  • 5 canopy fitment centres (owned)
  • Supported by distribution centres in South Africa, Taiwan, China and the UK
  • Franchise base comprises:
    • Resellers (Midas and Alert Engine Parts)
    • Specialised workshops

8%
of Group
revenue

12%
of Group
operating profit

7,9%
operating
margin

The above financial measures exclude Head Office and Eliminations.
* Operating profit includes profit streams without associated revenue.