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2023 Interim Results and
Dividend Declaration
for the six months ended 25 December 2022
Revenue Headline earnings Net asset value per share Dividend
(4%) (39%) 1% (32%)
R5.6 BILLION R156 MILLION 9 266 CENTS 400 CENTS
COMPANY PROFILE Cash and cash equivalents decreased by 8% to
Cashbuild is southern Africa’s largest retailer of quality R1 722 million with stock levels, including new stores,
Revenue (Rm) building materials and associated products, selling direct to increasing 2% and stockholding at 89 days (December 2021:
a cash-paying customer base through our chain of stores 79 days | June 2022: 81 days) at period-end. Net asset value
6 695 (316 at the end of this reporting period which includes 53 per share increased by 1%, from 9 175 cents (December
P&L Hardware stores). Cashbuild carries an in-depth quality 2021) to 9 266 cents.
product range tailored to the specific needs of the During the period, Cashbuild opened three new
5 889
5 649 communities we serve. Our customers are typically Cashbuild stores, refurbished 12 Cashbuild stores and two
5 563 5 510
home-builders and improvers, contractors, farmers, traders, P&L Hardware stores. Four Cashbuild stores and one P&L
as well as all other customers requiring quality building Hardware store was closed during the period. The closures
materials at the best value. relate to one looted store, one as a result of a relocation and
the remainder due to non-performance which included the
FINANCIAL HIGHLIGHTS last two Zambian stores. Cashbuild will continue its store
Revenue for the period decreased by 4%. Revenue for stores expansion, relocation, and refurbishment strategy in a
in existence prior to July 2021 (pre-existing stores – 309 stores) controlled manner, after considering its continuously evolving
decreased by 5% and our seven new stores contributed 1% feasibility process.
growth. Gross profit decreased by 9% with gross profit margin
2018 2019 2020 2021 2022
percentage decreasing from 26.6% to 25.3%. Selling price PROSPECTS
inflation was 4.5% at the end of December 2022 when Group revenue for the six weeks subsequent to period-end is
Operating profit (Rm) compared to December 2021. Operating expenses, including 8% lower than the prior year’s comparative six-week period.
new stores, increased by 9% (existing stores increasing by 7% Management expects trading conditions to remain
and new stores contributed a 2% increase) resulting in the challenging. This information has not been reviewed nor
576
operating profit decreasing by 47%. Basic earnings per share audited by the Company’s auditor.
492 decreased by 50% with headline earnings per share also
decreasing by 39% from the prior period.
FINANCIAL SUMMARY
285 299
262 Reviewed Reviewed Audited
six months six months year
ended ended ended
25 December 26 December % 26 June
R’million 2022 2021 change 2022
Revenue 5 649 5 889 (4) 11 145
2018 2019 2020 2021 2022
Gross profit 1 431 1 564 (9) 2 928
Operating profit 262 492 (47) 876
NAV per share (cents) Profit before taxation 227 447 (22) 787
Net profit attributable to owners of the Company 150 293 (49) 474
Headline earnings 156 256 (39) 436
9 640 Earnings per share (cents) 652.8 1 294.8 (50) 2 094.7
9 175 9 266 Diluted earnings per share (cents) 651.2 1 292.7 (50) 2 089.4
Headline earnings per share (cents) 693.5 1 130.4 (39) 1 929.4
Diluted headline earnings per share (cents) 704.0 1 128.5 (38) 1 924.5
8 388
8 167 Net asset value (NAV) per share (cents) 9 266 9 175 1 10 212
Dividend per share (cents) 400 587 (32) 1 264
DECLARATION OF DIVIDEND
The Board has declared an interim dividend (No. 60) of 400 cents (December 2021: 587 cents) per ordinary share, out of income
reserves to all shareholders of Cashbuild Limited. The dividend per share is calculated based on 24 989 811 (December 2021:
24 989 811) shares in issue at the date of the dividend declaration. The net local dividend amount is 320 cents per share for
shareholders liable to pay Dividends Tax and 400 cents per share for shareholders exempt from paying Dividends Tax. Local
2018 2019 2020 2021 2022 Dividends Tax is 20%.
Cashbuild Limited’s tax reference number is 9575168712.
Headline earnings (Rm)
Date dividend declared: Tuesday, 28 February 2023
Last day to trade “CUM” the dividend: Monday, 20 March 2023
350 Date to commence trading “EX” the dividend: Wednesday, 22 March 2023
Record date: Friday, 24 March 2023
Date of payment: Monday, 27 March 2023
256
Share certificates may not be dematerialised or rematerialised between Wednesday, 22 March 2023 and Friday, 24 March 2023,
221
both dates inclusive.
173
156 Johannesburg
Sponsor: Nedbank Corporate and Investment Banking, a division of Nedbank Limited
Approved by the Board on 28 February 2023
Released 1 March 2023
2018 2019 2020 2021 2022 This short-form announcement has not been reviewed by the external auditor, the announcement is the responsibility of the
Board of Directors of Cashbuild and is prepared based on the reviewed interim results being the full announcement. Any
All years stated in graphs are for the investment decision should be based on the full announcement available on Cashbuild’s website www.cashbuild.co.za and
six months ended December. on the JSE’s website at https://senspdf.jse.co.za/documents/2023/jse/isse/CSB/ie2022.pdf.
The full announcement is also available at the Company’s registered office for inspection, at no charge, during office hours.
Cashbuild Limited Copies of the full announcement may be requested by contacting Elna Munro on telephone +27 11 248 1500.
(Incorporated in the Republic of South Africa)
(Registration number: 1986/001503/06)
Share code: CSB ISIN: ZAE000028320
(“Cashbuild” or “the Company”)
QUALITY BUILDING MATERIALS AT THE BEST VALUE WWW.CASHBUILD.CO.ZA
