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Voluntary Sales Update
ITALTILE LIMITED
Incorporated in the Republic of South Africa
(Registration number: 1955/000558/06)
Share code: ITE ISIN: ZAE000099123
("Italtile" or "the Group")
VOLUNTARY SALES UPDATE
This sales update pertains to the period from 1 July 2025 to 30 November 2025 ("Review period")
compared to the prior period from 1 July 2024 to 30 November 2024 ("Prior period").
TRADING CONDITIONS
The global and South African macro-economic challenges have persisted into the new financial year.
The market has continued to experience pressure from low priced imports causing a decline in
revenue at Ceramic Industries Propriety Limited ("Ceramic Industries").
In Retail, we have been encouraged by some green shoots in the project market. While retail tile
volumes have increased as we have gained market share, average selling prices have continued to
decrease compared to the Prior period. Competition remains rife and poor consumer confidence has
resulted in continued margin pressure on tile products.
The Group welcomes the reduction in interest rates, but disappointingly low GDP growth has
diminished any favourable impact and there is little sign of improvement in the building industry
activity.
SALES PERFORMANCE
System-wide retail turnover reported by our brands, CTM, Italtile Retail and TopT, rose by
1,2% compared to the Prior period.
In the integrated supply chain businesses, Retail has been destocking and sales from these businesses
were lower due to less seaborne imports.
Combined manufacturing sales reported by Ceramic Industries and Ezee Tile Adhesive Manufacturers
Proprietary Limited to both Group and third-party customers declined by 6,2% compared to the Prior
period.
Capacity utilisation reduced slightly year-on-year at Ceramic Industries. While internal efficiencies
have improved, margins remain under pressure as a result of predatory pricing.
OUTLOOK
The challenging global and South African macro-economic environment is expected to continue for
the rest of this financial year amid global uncertainty and geopolitical conflict. Intense competition
will persist as a result of the imbalance between excess supply and weak demand, resulting in
continued challenges in the trading environment.
The Group's sound assets, competent, engaged and motivated teams, robust iconic brands, industry-
leading technology and products, and the competitive advantage of a vertically integrated supply
chain position us well in the current environment and for any upturn in the future. It is our intention
to remain a low-cost manufacturer and highly efficient in our supply and retail businesses.
The Group will continue to focus on retail excellence at every customer touchpoint, improving
efficiencies and logistics, enhancing customer experience, and growing core competencies in sales and
operating excellence.
The above information has not been reviewed and reported on by the Group's external auditors.
Johannesburg
8 December 2025
Sponsor
Merchantec Capital
Date: 08-12-2025 07:30:00
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