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General information

Sector: Consumer Goods

The company is not available at Interactive Brokers

Distell Group Holdings Limited (JSE:DGH) is South Africa and Africa’s leading producer and marketer of wines, spirits, ciders and other ready-to-drink (RTD) beverages, sold across the world. With a diverse portfolio of brands with rich provenance and authenticity, the group's products are priced across the pricing continuum to cater to a broad spectrum of consumers.


The group's key strengths include:


 


  • Differentiated brand and product portfolio straddling all key occasions
  • Brands with rich provenance and authenticity
      \t
    • South Africa’s Winelands
    • \t
    • Wind-swept Scottish Isles
  • Portfolio ideally suited to intermediate premiumisation in developing markets
  • Strong balance sheet position
  • Impressive agricultural asset base with potential to unlock value
  • Organisational culture that thrives on innovation
  • A diverse pool of talented professionals



  • Bad financial results growth rate -3.1% (average between last period year over year growth for revenue and EBITDA), there is slowdown compared to average historical growth rates (0.4%)
  • Dividend yield for the last twelve months 177.8%
  • Free cash flow yield 1.1% (LTM)
  • Share price is 0.0% higher than minimum and 51.1% lower than maximum for the last 3 years
  • The company is undervalued by EV / LTM EBITDA multiple compared to target level (4.2x vs
    )
  • Fundamental value created in LTM (estimate)

Key Financials

Share price, ZAR:  (0.0%)92.82
Share price, USD: 5.03
Common stocks: 220 103 426

Dividend Yield:  177.8%
FCF Yield LTM: 1.1%
EV / LTM EBITDA: 4.2x
Last revenue growth (y/y):  +0.4%
Last growth of EBITDA (y/y):  -6.7%
Historical revenue growth:  +27.1%
Historical growth of EBITDA:  +56.1%
Target EV / EBITDA (hist percentile):
Fundamental value created in LTM:
EV / LTM EBITDA mutiple calculation
Market Cap ($m): 1 108
Net Debt ($m): 48
EV (Enterprise Value): 1 156
EBITDA LTM ($m): 276
EV / LTM EBITDA: 4.2x
Price to Book: 1.06x

Revenue and EBITDA

Semi-Annual values ($m)

Change (y/y)

Cash Flow

FCF ($m)

Net Debt / Cash and Equivalents ($m)

Share price and dividends (Download history)

Share price

Payment ZAR per share

Multiple and potential

EV / EBITDA

Potential dynamics

Reuters Headlines

South Africa approves Heineken`s takeover of Distell with conditions

JOHANNESBURG (Reuters) -South Africa`s Competition Commission approved Heineken`s purchase of wine and cider company Distell Group as long as the merged entity invests more than 10 billion rand ($578 million) over five years in the country.

2022-09-09

JSE:DGH JSE:ISA

UPDATE 1-South Africa approves Heineken`s takeover of Distell with conditions

South Africa`s Competition Commission approved Heineken`s purchase of wine and cider company Distell Group as long as the merged entity invests more than 10 billion rand ($578 million) over five years in the country.

2022-09-09

JSE:DGH JSE:ISA

Heineken to buy S.Africa`s Distell and Namibian Breweries

(This Nov. 15 story corrects quote in para 4 to "it should not be seen", adding word `not`)

2021-11-16

JSE:REM JSE:DGH JSE:AVI JSE:ETO JSE:ISA

South Africa`s drinks industry seeks tax relief after new sales ban

South Africa`s alcohol industry, reeling under a renewed liquor sales ban since end December, on Tuesday called for a deferment of excise duty to stave off a wave of business closures and job losses.

2021-01-12

JSE:DGH JSE:AVI

Distell accuses AB InBev, SABMiller merger of breach: South Africa regulator

South Africa`s Competition Tribunal on Wednesday said it was looking into allegations by South African alcoholic drinks firm Distell Group that the entity formed from the 2016 merger of the world`s largest brewer Anheuser-Busch InBev with SABMiller breached merger conditions.

2019-09-11

JSE:ANH JSE:DGH

UPDATE 1-South Africa`s Distell sees annual earnings down, writes down Angolan investment

South African alcoholic beverages firm Distell Group said on Wednesday it expects full-year headline earnings to fall as much as 6% and has written down the value of its investment in Angola and took a credit loss provision in Zimbabwe.

2019-08-07

JSE:DGH JSE:SPP JSE:AVI JSE:MPT

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Releases

2022-08-12
Trading statement for the year ended 30 June 2022
2022-06-27
Result of the Distell general meeting of shareholders
2022-06-15
Update on the Distell Scheme implementation timetable
2022-05-26
Specific repurchase of Distell ordinary shares, distribution of circular and notice of general meeting
2022-02-24
Unaudited Group results for the six months ended 31 December 2021
2022-02-15
Result of the Distell Scheme Meeting and remaining salient dates and times of the Transaction
2022-01-31
Scheme of Arrangement: Error in Newco Prospectus and availability of additional documents
2022-01-20
Report on proceedings at the annual general meeting
2022-01-20
Trading update for the six months ended 31 December 2021
2022-01-17
Distribution of Scheme Circular and Newco Prospectus, Notice of Scheme Meeting and Withdrawal of Cautionary
2021-12-07
Disclosure of significant holding of Distell Group Holdings Limited ordinary shares
2021-11-23
Disclosure of significant holding of Distell Group Holdings Limited ordinary shares
2021-11-15
Offer to acquire the entire issued ordinary and B share capital of Distell and further cautionary announcement
2021-10-29
Notice of Annual General Meeting
2021-10-29
First Quarter Trading Update (FY22): (1 July 2021 to 30 September 2021)
2021-09-29
Voluntary update and further cautionary announcement

SENS Announcements

2023-04-25
Finalisation announcement in respect of the Scheme
2023-03-27
Disclosure of significant holding of Distell Group Holdings Limited ordinary shares
2023-03-27
Fulfilment of threshold Scheme Conditions in relation to the Scheme
2023-03-23
Disclosure of significant holding of Distell Group Holdings Limited ordinary shares
2023-03-23
Disclosure of significant holding of Distell Group Holdings Limited ordinary shares
2023-03-09
Postponement of Annual General Meeting
2023-03-09
Transaction Update Announcement
2023-02-23
Unaudited Group results for the six months ended 31 December 2022
2023-02-10
Update regarding the approval of the Heineken transaction by the Competition Tribunal of South Africa
2023-02-03
Extension of retirement of director
2023-01-18
Distribution of Newco Prospectus, availability of Capevin carve-out information and revised expected salient dates
2022-10-25
Dealing in securities by a director
2022-10-19
Dealing in securities by a director
2022-09-29
Results of the special and ordinary resolutions passed by shareholders in terms of s60 of the Companies Act
2022-09-28
Update on the Competition Authorities’ approval process and impact on important dates
2022-09-23
No Change Statement, availability of AFS and IAR, Notice of AGM and BBBEE Annual Compliance Report
2022-08-25
Reviewed Group results for the year ended 30 June 2022 and update on trading statement
2022-08-22
Distribution of circular
2022-08-12
Trading statement for the year ended 30 June 2022
2022-06-27
Result of the Distell general meeting of shareholders
2022-06-15
Update on the Distell Scheme implementation timetable
2022-05-26
Specific repurchase of Distell ordinary shares, distribution of circular and notice of general meeting