BRIKOR LIMITED - Financial results for the year ended 28 February 2025 - short form announcement

Financial results for the year ended 28 February 2025 - short form announcement

BRIKOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1998/013247/06)
JSE Share code: BIK ISIN: ZAE000101945
("Brikor" or the "Company")

FINANCIAL RESULTS FOR THE YEAR ENDED 28 FEBRUARY 2025 – SHORT-FORM
ANNOUNCEMENT

FINANCIAL HIGHLIGHTS

                                         28 Feb      29 Feb
                                           2025        2024        %
                                            R'm         R'm   change
Revenue                                   380,7       350,5      8,6
Earnings before interest, taxation,
depreciation, amortisation,
impairments and earnings from associate      22,6     48,3      (53,2)
Basic earnings per share (cents)             (0,3)     1,0    (>100,0)
Headline earnings per share (cents)           0,5      1,3      (61,5)
Net asset value per share (cents)            13,5     13,9       (2,9)
Net tangible asset value per share (cents)   10,3     11,6      (11,2)

Note: No dividends have been declared for the years ended
28 February 2025 or 29 February 2024.

FINANCIAL OVERVIEW
Revenue increased to R380,7 million (F2024: R350,5 million) for
the reporting period, with the Group realising a loss before
earnings from its associate of R1,4 million (F2024: profit of R4,7
million). The investment in associate contributed a loss of R2,4
million (F2024: profit of R3,5 million) to the loss for the
reporting period, resulting in total comprehensive loss for the
year attributable to owners of the Company of R2,6 million (F2024:
total comprehensive income of R8,2 million).

BRICKS SEGMENT
Revenue in the Bricks segment decreased by 6,4% to R211,5 million
(F2024: R226,0 million). The decrease in revenue was as a direct
result of a decline in market conditions. Projects in the
construction sector only started with significant off-take during
June/July 2024 in comparison to the previous reporting period
where projects started from March 2023. The South African general
election during May 2024 also had an impact on the construction
industry, directly impacting brick sales.

COAL SEGMENT
Revenue in the Coal segment, after deducting intersegment revenue,
increased by 36% to R169,3 million (F2024: R124,5 million). The
increase in revenue is as a result of the implementation of the
Contract Mining and Coal Purchase Agreement, effective 1 November
2023. In terms of the agreement all coal mined by the service
provider is also sold to the service provider and, hence, the
resultant increase in revenue.

PROFIT BEFORE INTEREST, TAXATION AND EARNINGS FROM ASSOCIATE
The Group realised a profit before interest, taxation and earnings
from associate of R5,3 million (F2024: R23,8 million). The Bricks
segment realised a profit before interest and taxation of R26,6
million (F2024: R24,5 million), whilst the Coal segment realised a
loss before interest and taxation of R21,3 million (F2024: R0,6
million).

Other income, administrative expenses, distribution and other
expenses increased by 11,7% to R51,5 million (F2024: R46,2
million).

OUTLOOK
The Board remains positive about the potential which can be
unlocked from the Group given the synergies between various
entities within the Group.

The Board will continue exploring opportunities to expand the
production capacity of the Bricks segment and also ensure
sustainability of the Group's mineable reserves.

Any forward-looking statements have neither been reviewed nor
reported on by the Group's auditors, Nexia SAB&T.

SHORT-FORM STATEMENT
This short-form announcement is the responsibility of the
directors.

Any investment decision should be based on the audited Annual
Financial Statements accessible from 19 June 2025 via the JSE link
on:
https://senspdf.jse.co.za/documents/2025/jse/isse/bik/AFS25.pdf

The Annual Financial Statements including the audit opinion of the
external auditor, Nexia SAB&T, which sets out the key audit
matters and the basis for its unmodified opinion, are available on
the Company's website on
https://brikor.net/wpcontent/uploads/2025/06/BrikorAFS2025.pdf

Copies of the Annual Financial Statements may also be requested by
contacting Ms Joaret Botha by email at
joaret@brikor.net and are available for inspection at the
Company's registered office at no charge, weekdays during office
hours.

19 June 2025
Nigel

Registered address: 1 Marievale Road, Vorsterskroon, Nigel, 1490
(PO Box 884, Nigel, 1490)
Telephone: 011 739 9000
Facsimile: 011 739 9021

Directors: Mr Allan Pellow (Chairperson)*, Ms Mamsy Mokate (Lead
Independent Director)*, Mr Garnett Parkin (Chief Executive
Officer), Ms Joaret Botha (Financial Director), Mr Michiel
Laubscher#, Ms Funeka Mtsila*, Mr Steve Naudé*, Mr Corné
Oberholzer#, Mr Joe van Rensburg (Executive Director: Mining)
* Independent Non-Executive   # Non-Executive

Company Secretary: Fusion Corporate Secretarial Services (Pty) Ltd

Designated Adviser: Exchange Sponsors (2008) (Pty) Ltd

Auditors: Nexia SAB&T

Transfer Secretaries: JSE Investor Services (Pty) Ltd

Preparer: Ms Bianca Saunders CA(SA), Financial Manager, under the
supervision of Ms Joaret Botha CA(SA), Financial Director

www.brikor.co.za

Date: 19-06-2025 10:00:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.