Raubex : Final Results Presentation for the year ended 29 February 2024

2024

AUDITED FINAL

RESULTS

for the year ended 29 February 2024

Raubex Group Limited (Incorporated in the Republic of South Africa)

Registration number 2006/023666/06

www.raubex.comShare code: RBX ISIN code: ZAE000093183 ("Raubex" or "the Company")

AGENDA

1. About Raubex
2. Financial Overview
3. Operational Overview
4. Outlook and Strategy

Slide 3 - Felicia Msiza (CEO)

Slide 5 - Sam Odendaal (FD)

Slide 16 - Dirk Lourens (COO)

Slide 50 - Felicia Msiza (CEO)

2

About Raubex	1

THE YEAR IN REVIEW

Financial

performance

Operations

performance

Order book

Tender

activities

• Excellent set of results for FY2024 across all four divisions
• No contribution from the Beitbridge Border Post project during the year
• Bauba Resources continued to perform exceptionally well
• Macroeconomic conditions remain challenging
• Diversified business model spreads risks and opportunities
• All projects are performing well
• Quality order book
• Current order book increased by a pleasing 27.5% to R25.55 billion
• Continue to focus on executing the order book profitably
• Increased SANRAL tenders
• Selective in taking on opportunities with good risk vs reward ratio
• Recent awards in all divisions

4

Financial Overview	2

FINANCIAL HIGHLIGHTS

GROUP

REVENUER17.43bn 13..8%

INCREASED TO	(2023: R15.31bn)

HEPS	476.3 cps	21.3%
INCREASED TO
	(2023: 392.8 cps)
CAPITAL	R1.76bn	53.0%
EXPENDITURE
INCREASED TO
(2023: R1.15bn)
GROUP OPERATING	8.8%	TOTAL
PROFIT MARGIN	DIVIDEND

OPERATING

PROFIT

INCREASED TO

CASH GENERATED FROM OPERATIONS DECREASED TO

ORDER BOOK

INCREASED TO

155 cps

R1.54bn 20..4%

(2023: R1.28bn)

R1.90bn 2.9%

(2023: R1.96bn)

R25.55bn 27.5%

(2023: R20.04bn)

RETURN ON

CAPITAL16XX.5% EMPLOYED

(2023: 8.3%)

(2023: 129 cps)

(2023: 16.2%)

6

INCOME STATEMENT

R'000

Revenue

Operating profit

Audited	Audited
29 Feb 2024	28 Feb 2023	% variance
17 425 168	15 307 479	13.8
1 536 688	1 276 139	20.4

Operating profit margin

8.8%

8.3%

Net finance costs	(64 417)	(47 165)	36.6
Profit before tax	1 472 775	1 221 961	20.5
Profit after tax	1 073 975	858 634	25.1
Effective tax rate	27.1%	29.7%
Profit to non-controlling interest	226 354	154 290	46.7
Earnings per share (cents)	472.1	391.1	20.7
Headline earnings per share (cents)	476.3	392.8	21.3
Total dividend per share (cents)	155.0	129.0	20.2
Weighted average number of shares ('000)	179 532	180 104	(0.3)

7

SEGMENTAL ANALYSIS PER DIVISION

Revenue (%)

23%

31%

2024

R17.43bn

14%

32%

	30%	19%
Materials Handling and
Mining Division	2023		12%
	R15.31bn
Construction Materials
Division
	39%
Roads and Earthworks
Division

Infrastructure Division

Operating profit (%)

33%

38%

2024

R1.54bn

22%	7%
		13%
Materials Handling and	41%	6%
Mining Division	2023

Construction Materials	R1.28bn
Division	40%
Roads and Earthworks
Division
Infrastructure Division	8

SEGMENTAL ANALYSIS PER GEOGRAPHY

Revenue (%)

Operating profit (%)

19%

6% 2024

R17.43bn

South Africa

Rest of Africa

Western Australia

75%

16%

13% 2023

R15.31bn

71%

18%

12% 2024

R1.54bn

South Africa

Rest of Africa

Western Australia

70%

19%

34%

2023

R1.28bn

47%

9

OUR TRACK RECORD

20 000		Turnover (R'm)
		17 425
15 000		15 307
		11 578
10 000	8 735	8 846

5 000

-

2020	2021		2022			2023	2024
			Roads		Materials		Infra		Mining

Five-year CAGR: 15.4%

Return on Capital Employed (%)

	20.0%
	18.0%
	16.0%
	14.0%
	12.0%
%	10.0%
	8.0%
	6.0%
	4.0%
	2.0%	7.7%	5.8%	13.5%	16.2%	16.5%
	0.0%
	2020	2021	2022	2023	2024

Five-year CAGR: 34.1%

1. 800

1. 600

1. 400

1. 200

1. 000
   800
   600
   400
   200
   -
   -200

600

500

400

300

200

100

0

Operating profit (R'm)

1 537

1 276

945

480

364

2020	2021		2022			2023	2024
			Roads		Materials		Infra		Mining

Five-year CAGR: 49.3%

HEPS (cents)

161.7	81.9	297.4	392.8	476.3
2020	2021	2022	2023	2024	10

Five-year CAGR: 52.9%