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Audited Financial Results for the year ended 28 February 2025, Integrated Annual Report and Notice of AGM
INSIMBI INDUSTRIAL HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration No: 2002/029821/06)
Share code: ISB
ISIN code: ZAE000116828
("Insimbi" or "the Group" or "the Company")
AUDITED FINANCIAL RESULTS FOR THE YEAR ENDED 28 FEBRUARY 2025,
DISTRIBUTION OF THE INTEGRATED ANNUAL REPORT AND NOTICE OF ANNUAL GENERAL MEETING
PROFILE
Insimbi is a group of companies that sustainably source, process, beneficiate and recycle metals. The core business
expertise is the ability to source and provide local, regional, and global industrial consumers with the required commodity
over its four distinct business segments. The Group herewith announces its audited financial results for the twelve
months ended 28 February 2025.
FINANCIAL INDICATORS
2025 2024 % Change
Revenue (R'000) 4 984 574 5 590 294 (11)
Net cash from operating activities (R'000) 61 543 101 700 (39)
Earnings before interest, tax, depreciation, and amortisation (R'000) 51 149 158 573 (68)
Operating profit (R'000) 25 672 123 259 (79)
Impairments of goodwill (R'000) 77 816 - 100
Net (Loss) / profit (R'000) (110 545) 42 876 (358)
(Loss) / earnings per share (cents) (32.37) 11.86 (373)
Headline (loss) / earnings per share (cents) (6.50) 12.54 (152)
Dividend per share (cents) - 2.5 (100)
OVERVIEW
Commodity markets continued to be affected by geopolitical volatility in the review period, with prices for copper,
aluminium, nickel and steel all below their recent highs. This was exacerbated by ongoing conflicts in the European
Union and Middle East, with the latter in particular impacting global shipping. This level of global uncertainty, and US
tariffs noted by the chairman, caused volatility in the rand exchange rate, affecting all imports. Adding those factors to
South Africa-specific issues meant another exceedingly difficult year for most businesses.
Insimbi met the challenges head on, with encouraging early results from recent operational changes to improve
efficiency and cost management. Specifically, the divestment of two small branches has enabled the Group to reset its
cost platform. Overall, the Group continues to demonstrate a good understanding of financial discipline in reducing debt
while managing working capital effectively.
During the reporting period, the Group recorded a non-cash goodwill impairment charge of R78 million. This decision
followed a thorough review of the carrying value of goodwill associated with certain business units, triggered by ongoing
tough trading conditions that have impacted current performance and future cash flow projections. The impairment
reflects updated market assumptions and a more conservative outlook, in line with our commitment to transparent and
prudent financial management.
While this charge affects reported earnings, it does not impact on the Company's cash position or underlying operational
performance. We remain focused on navigating the current environment through disciplined cost management and
strategic execution to drive long-term value creation.
DIVIDEND
No final dividend was declared for the 2025 financial year.
OUTLOOK
Our focus remains on supplying recycled and beneficiated ferrous and non-ferrous metals for local and export clients.
The global focus on decarbonisation and vehicle electrification continues to support higher copper and aluminium prices,
in turn boosting our revenue and margins. In addition, working capital and cash flow throughout our operations have
been very well managed, and we are steadily degearing our balance sheet. While the risk of external disruptions remains
high, we believe we have demonstrated the Group's ability to withstand these in recent years.
We believe a return to meaningful economic growth in South Africa, progress on infrastructural development and an
equitable industrial policy will generate additional tailwinds.
SHORT-FORM ANNOUNCEMENT
This short form announcement is the responsibility of the Board and is only a summary of the audited consolidated
annual financial statements ("AFS") contained in the Group's integrated annual report (Integrated Report") and does
not contain full or complete details. The Integrated Report is available at the following JSE cloudlink:
https://senspdf.jse.co.za/documents/2025/jse/isse/ISBE/FY2025.pdf.
Copies of the Integrated Report, including the AFS and full auditor's report are available on the Group's website at
www.insimbi-group.co.za. Any investment decisions in relation to the Company's shares should be based on the AFS.
The AFS have been audited by the Group's auditors, Moore Cape Town Inc, who expressed an unmodified audit opinion
thereon.
DISTRIBUTION OF THE INTEGRATED ANNUAL REPORT
Shareholders of the Group ('Shareholders') are hereby advised that the Group's Integrated Report, incorporating the
AFS for the year ended 28 February 2025 and the notice of the annual general meeting of the Group ('Notice of AGM')
was dispatched to Shareholders today, 30 May 2025.
NOTICE OF ANNUAL GENERAL MEETING
Notice is hereby given that the annual general meeting ('AGM') will be held at 10:00 on Thursday, 10 July 2025 at
the offices of Computershare Investor Services Proprietary Limited, Rosebank Towers, 15 Biermann Avenue, Rosebank,
2196 to transact the business as set out in the abovementioned Notice of AGM.
Kindly note the following salient details:
Issuer name Insimbi Industrial Holdings Limited
Type of instrument Ordinary shares
ISIN number ZAE000116828
JSE code ISB
Meeting type Annual General Meeting
Meeting venue Computershare Investor Services
Proprietary Limited, Rosebank
Record date – to determine which shareholders are entitled to receive Friday, 23 May 2025
the notice of meeting
Publication/posting date 30 May 2025
Last day to trade – Last day to trade to determine eligible shareholders Tuesday, 1 July 2025
that may attend, speak and vote at the meeting
Record date – to determine eligible shareholders that may attend, Friday, 4 July 2025
speak and vote at the meeting
Meeting deadline date (For administrative purposes, forms of proxy for Tuesday, 8 July 2025
the meeting to be lodged)
Meeting date 10:00 on Thursday, 10 July 2025
Publication of results Thursday, 10 July 2025
Website link www.insimbi-group.co.za
COMPANY INFORMATION
Directors: F Botha (Chief Executive Officer) CA (SA)
N Winde (Chief Financial Officer) CA (SA)
RI Dickerson* (Chairperson)
N Mwale*
CS Ntshingila*
(*non-executive)
Company Secretary: Fluidrock Governance Group Proprietary Limited
Registered office: Stand 359 Crocker Road, Wadeville, Germiston, 1422
Website: www.insimbi-group.co.za
Sponsor: PSG Capital Proprietary Limited
Transfer Secretaries: Computershare Investor Services Proprietary Limited
Auditors: Moore Cape Town Inc.
Johannesburg
29 May 2025
Sponsor
PSG Capital
Date: 30-05-2025 09:00:00
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