2025 financial year in review

31% decrease in revenue to

R5 835 million

(2024: R8 443 million)

72% decrease in headline
earnings per share to

12.2 cents

(2024: 42.9 cents)

79% decrease in basic
earnings per share to

5.7 cents

(2024: 26.7 cents)

No change in the final
cash dividend of

8 cents

(2024: 8 cents)

3% decrease in net
asset value to

R4 719 million

(2024: R4 876 million)

69% decrease in EBITDA to

R533 million

(2024: R1 698 million)*

19% decrease in cash and
balances held with Central
Treasury to

R1 156 million

(2024: R1 434 million)*

65% decrease in net
cash generated from
operating activities to

R609 million

(2024: R1 744 million)*