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Reviewed condensed consolidated financial results and cash dividend declaration for the year ended 31 March 2025
Tsogo Sun Limited
(Incorporated in the Republic of South Africa)
(Registration number 1989/002108/06)
Share code: TSG ISIN: ZAE000273116
JSE Alpha code: TSGI
("Tsogo Sun" or "the company" or "the group")
Reviewed condensed consolidated financial results and cash dividend declaration
for the year ended 31 March 2025
Income R11.2 billion down 3%
Operating costs (R7.7 billion) up 1%
Adjusted EBITDA R3.5 billion down 11%
Headline earnings R1.5 billion down 16%
Adjusted headline earnings R1.5 billion down 15%
Earnings per share 120 cents down 18%
Headline earnings per share 142 cents down 16%
Adjusted headline earnings per share 142 cents down 14%
Final dividend per share 30 cents down 25%
NIBD and guarantees R7.2 billion down 6%
Debt and covenants
The group's net interest-bearing debt ("NIBD") and guarantees at 31 March 2025 reduced to R7.19 billion from
R7.67 billion at 31 March 2024 (a reduction of R0.48 billion). The net debt to adjusted EBITDA ratio, as
measured for covenant purposes at 31 March 2025, amounted to a 2.09 times multiple.
Financial
Total income of R11.16 billion was generated for the year and adjusted EBITDA amounted to R3.47 billion.
Adjusted headline earnings achieved for the year amounted to R1.47 billion compared to R1.72 billion for the prior
year.
Dividend
The board of directors has resolved to declare a final gross cash dividend of 30.0 (thirty) cents per share in respect
of the year ended 31 March 2025 from distributable reserves. The dividend will be paid in cash to shareholders recorded
in the register of the company at close of business Friday, 25 July 2025. The number of ordinary shares in issue at the
date of this declaration is 1 042 596 816. The dividend will be subject to a local dividend tax rate of 20%, which will
result in a net dividend of 24.0 (twenty-four) cents per share to those shareholders who are not exempt from paying
dividend tax. The company's income tax reference number is 9250039717.
The salient dates are as follows:
Last date to trade cum dividend Tuesday, 22 July 2025
Trading ex-dividend commences Wednesday, 23 July 2025
Record date Friday, 25 July 2025
Payment date Monday, 28 July 2025
Important information
This short form announcement is the responsibility of the board of directors of Tsogo Sun and is only a summary of the
information contained in the full announcement. Any investment decisions by investors and/or shareholders should be
based on consideration of the full announcement as a whole which is available at
https://senspdf.jse.co.za/documents/2025/jse/isse/TSGE/Yearend.pdf and on the group's website at https://www.tsogosun.com.
The condensed consolidated financial statements have been reviewed by Deloitte & Touche, and their unmodified review
conclusion is available in the full announcement. The short form announcement itself is not reviewed.
Fourways
28 May 2025
Equity sponsor: Investec Bank Limited, 100 Grayston Drive, Sandton, 2196 (PO Box 785700, Sandton, 2146)
Debt sponsor: Nedbank Corporate and Investment Banking, a division of Nedbank Limited, 3rd Floor, Block F, 135 Rivonia
Campus, 135 Rivonia Road, Sandown, Sandton, 2196 (PO Box 1144, Johannesburg, 2000)
www.tsogosun.com
Date: 28-05-2025 05:27:00
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