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Trading Statement
GRINDROD LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1966/009846/06)
Share code: GND & GNDP
ISIN: ZAE000072328 & ZAE000071106
("Grindrod")
TRADING STATEMENT
In terms of paragraph 3.4(b)(i) of the Listings Requirements of the JSE Limited ("JSE"), listed companies are
required to publish a trading statement as soon as they become reasonably certain that the financial results for the
period to be reported on will differ by more than 20% from the financial results reported in the comparative period.
Shareholders are therefore advised that the earnings for the six months ended 30 June 2025 are expected to be
between R1 442 million and R1 492 million compared to the earnings of R486 million in the comparative period.
The earnings include one-off net profits of R903 million mainly relating to foreign currency translation reserves
released on both the buy-up of the remaining 35% interest in the Matola terminal joint venture and the exit of the
marine fuel trading joint venture. Earnings per share ("EPS") is expected to be between 216.0 cents and
223.5 cents compared to the EPS of 72.8 cents for the comparative period. Both earnings and EPS represent an
increase of more than 100% from the comparative period.
Headline earnings are expected to be between R567 million and R617 million compared to R481 million reported
for the same period in 2024. Headline earnings per share ("HEPS") is expected to be between 85.0 cents and
92.5 cents compared to 72.1 cents in the comparative period, an increase of between 18% and 28%. Headline
earnings from core operations are expected to be broadly in line with the comparative period which was
R562 million. Core operations consist of the Port and Terminals, Logistics and Group segments.
The financial information on which this trading statement is based has not been reviewed nor reported on by
Grindrod's external auditors.
Grindrod will release its results for the six months ended 30 June 2025 on the JSE's Stock Exchange News Service
on or about Friday, 22 August 2025.
13 August 2025
Durban
Sponsor
Nedbank Corporate and Investment Banking, a division of Nedbank Limited
Date: 13-08-2025 01:30:00
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