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Trading Statement for the Year ended 31 December 2025
Libstar Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 2014/032444/06)
(JSE share code: LBR)
(ISIN: ZAE000250239)
("Libstar" or the "Group")
TRADING STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2025
INTRODUCTION
Libstar's results for the year ended 31 December 2025 build on the strong momentum achieved in the first
half of 2025, underpinned by a strong performance of the Perishable Products category and the Wet
Condiments sub-category of Ambient Products. The improvement is attributable to the disciplined
execution of the Group's simplification, growth and sustainability strategy.
Shareholders are referred to the SENS announcement dated 10 December 2025 regarding the disposal of
the Group's fresh mushroom operations. Following the disposal, the fresh mushroom business has been
presented as a discontinued operation in the results for the year ended 31 December 2025, and the prior
period statement of comprehensive income has been re-presented to provide a like-for-like comparison.
TRADING STATEMENT
In terms of paragraph 6.26(a) of the Listings Requirements of the JSE Limited, companies are required to
publish a trading statement as soon as there is a reasonable degree of certainty that the financial results
for the period to be reported upon next, will differ by at least 20% from the financial results for the
previous corresponding period.
Total headline earnings per share (HEPS) and total earnings per share (EPS)
Shareholders are advised that, for the 2025 financial year, the Group expects:
- Total HEPS to be between 50.4 and 52.5 cents per share, compared to the prior year HEPS of 42.1
cents per share (representing an increase of between 19.6% and 24.6%). The increase is mainly
attributable to the resilient trading performance referred to above and lower net interest charges.
The Group's net debt to EBITDA ratio reduced significantly as a result of strong operational cash
generation, a reduction in working capital days and disciplined capital investment.
- Total EPS to be between -1.2 cents loss per share and 1.0 cents earnings per share, compared to
the prior year's loss per share of -54.0 cents (representing an increase of between 97.9% and
101.8%). The increase is mainly attributable to lower impairment charges of R227.4 million
(2024: R508.7 million) than in the prior year. The current year impairment is mainly attributable to
the Ambassador Foods (snacks division) cash-generating unit.
Normalised headline earnings per share (HEPS)
Shareholders are advised that, for the 2025 financial year, the Group expects:
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- Normalised HEPS from continuing operations, to be between 70.0 and 71.8 cents per share,
compared to the prior year Normalised HEPS of 58.0 cents per share (representing an increase of
between 20.7% and 23.7%).
SHARES IN ISSUE
The weighted average number of shares in issue at the end of the reporting period remained unchanged at
595,812,000 shares.
The financial information in this trading update is the responsibility of the directors and has not been
audited, reviewed, or reported on by the Group's external auditors.
Libstar's Group results for the year ended 31 December 2025 will be published on 17 March 2026.
26 February 2026
Sponsor
The Standard Bank of South Africa Limited
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Date: 26-02-2026 03:10:00
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