Zeda Limited · JSE:ZZD
Zeda — H1 2025 Earnings Presentation
33 slides from Zeda's earnings presentation, May 27, 2025
Slide 1: Interim Results 2025 for the six months ended 31 March 2025
INTERIM RESULTS INTERIM 2025 RESULTS 2025 FOR THE SIX MONTHS ENDED 31 MARCH FOR THE SIX MONTHS AND CASH DIVIDEND ENDED 31 MARCH 2025 DECLARATION
Slide 2: Contents, disclaimer and administration
Overview GCEO message ESG overview Financial overview Key performance Financial statements HOME Incorporated in the Republic of South Africa Registration number: 2022/493042/06 JSE share code: ZZD Contents ISIN: ZAE000315768 Zeda Limited (“Zeda” or the “Company” or the “Group”) Disclaimer Administra
Slide 3: Overview of the business
Overview GCEO message ESG overview Financial overview Key performance Financial statements HOME OUR PURPOSE, PURPOSE VISION AND VISION Connecting ASPIRATION Trusted mobility humanity solutions provider leading in its chosen markets ASPIRATION Drive greater adoption of usership economy OUR CULTURE Ov
Slide 4: Our market
Overview GCEO message ESG overview Financial overview Key performance Financial statements HOME Positively contributing to OUR Geography livelihoods Enabling Supporting MARKET Current presence in southern Africa plus Ghana small and medium individuals enterprises (“SMEs”) to get to their Current sub
Slide 5: Integrated mobility business
Overview GCEO message ESG overview Financial overview Key performance Financial statements HOME INTEGRATED MOBILITY BUSINESS Leasing Business Avis Fleet is Africa’s largest fleet management company, which manages just under 200 000 vehicles. Car Rental Business Avis Fleet provides a full spectrum of
Slide 6: Car sales business and our competitive advantage
Overview GCEO message ESG overview Financial overview Key performance Financial statements HOME CAR SALES BUSINESS OUR COMPETITIVE ADVANTAGE After 58 years in this business, we are experts Avis Car Sales is an integral part of the Car Rental Business. The in managing a vehicle throughout its life. W
Slide 7: Message from the Group Chief Executive Officer
Overview GCEO message ESG overview Financial overview Key performance Financial statements HOME GROUP FINANCIAL HIGHLIGHTS Notwithstanding the 1.6% decline in revenue, we improved margins, increased profitability, and delivered shareholder returns. Our diversified offering helped cushion the impact
Slide 8: Business overview
Overview GCEO message ESG overview Financial overview Key performance Financial statements HOME The first half of the year was characterised by a challenging trading environment. We observed clear signs of strain across Corporate South Africa, reflected in delayed investment decisions, including fle
Slide 9: Strategy overview and outlook statement
Overview GCEO message ESG overview Financial overview Key performance Financial statements HOME Car rental business (Avis Budget) OUTLOOK STATEMENT The car rental segment’s revenue decreased by 4.0% due to a drop in used car volumes. However, excluding the car sales business, rental revenue remained
Slide 10: Change in estimates and dividend declaration
Overview GCEO message ESG overview Financial overview Key performance Financial statements HOME CHANGE IN ESTIMATES DIVIDEND DECLARATION As part of the Group’s review of the residual values of its property, plant and equipment in accordance The Board has declared an interim dividend (Dividend number
Slide 11: ESG overview
Overview GCEO message ESG overview Financial overview Key performance Financial statements HOME ESG OVERVIEW E Environment: We are actively working to minimise our environmental footprint. We have made tangible progress in our renewable energy by successfully implementing solar and backup power at f
Slide 12: Financial overview: producing solid financial results
Overview GCEO message ESG overview Financial overview Key performance Financial statements HOME Financial 4 QUICK VIEW OF THE FINANCIAL OUTCOMES overview Zeda Group revenue decreased by 1.6% for the six-month period ended March 2025 compared to the same period in the prior year. Group EBITDA decline
Slide 13: Revenue performance and profitability
Overview GCEO message ESG overview Financial overview Key performance Financial statements HOME REVENUE PERFORMANCE Operating profit and operating profit margin Year-on-year HY2025 HY2024 FY2024 Advantages of having diversified revenue streams growth (%) R’million R’million R’million Rental and leas
Slide 14: Net finance costs, operating assets and earnings per share
Overview GCEO message ESG overview Financial overview Key performance Financial statements HOME Higher average debt levels have increased net finance costs, which is up by 5.5% compared to the same period last year, despite falling market interest rates and funding spreads. OPERATING ASSETS SUPPORTI
Slide 15: Focusing on funding
45% HY25 52% HY25 99% Overview GCEO message ESG overview Financial overview Key performance Financial statements HOME 3% Financing split Fleet assets split Pre-refinance prior to 31 December 2024 Post CTA funding and bond issuance Long-term debt Rental – short term Secured Secured Short-term portion
Slide 16: Financial leverage and capital allocation approach
Overview GCEO message ESG overview Financial overview Key performance Financial statements HOME Capital structure Debt ratios on 31 March 2025 (R’million/times) (R’million/times) 12.0 Invested capital: 9 581 10.0 9.1 6.2 4.7 5.0 Gross debt*: 8.0 9 641 7 541 3 183 Equity 7 911 8 669 8 627 33% 6.0 Net
Slide 17: Enhancing cash flow management
Overview GCEO message ESG overview Financial overview Key performance Financial statements HOME Delivering robust returns ENHANCING CASH FLOW MANAGEMENT Our capital deployment strategy returned an ROIC of 12.2% which is above the WACC of 11.8% for the Zeda maintains policies, systems and controls in
Slide 18: Key performance indicators
Overview GCEO message ESG overview Financial overview Key performance Financial statements HOME Key performance indicators 5 Reviewed condensed 6 for the six-month period ended 31 March 2025 consolidated interim financial statements Financial indicators half-year trends for the six-month period ende
Slide 19: Independent auditor's review report
Overview GCEO message ESG overview Financial overview Key performance Financial statements HOME INDEPENDENT AUDITOR’S REVIEW REPORT ON THE CONDENSED INDEPENDENT AUDITOR’S REVIEW REPORT ON THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS TO THE SHAREHOLDERS CONSOLIDATED INTERIM FINANCIAL STATE
Slide 20: Statements of profit or loss and financial position
Overview GCEO message ESG overview Financial overview Key performance Financial statements HOME FINANCIAL STATEMENTS FINANCIAL STATEMENTS continued CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION for the period ended 31 March 2025 as at 31 Ma
Slide 21: Statements of changes in equity and cash flows
Overview GCEO message ESG overview Financial overview Key performance Financial statements HOME FINANCIAL STATEMENTS continued FINANCIAL STATEMENTS continued CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS for the period ended 31 March 2025 for th
Slide 22: Notes to the condensed consolidated financial statements
Overview GCEO message ESG overview Financial overview Key performance Financial statements HOME NOTES NOTESTOTO THE THE CONDENSED CONDENSED CONSOLIDATED CONSOLIDATED FINANCIAL FINANCIAL STATEMENTS STATEMENTS NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS forfor thethe period period ended e
Slide 23: Notes: segmental assets and liabilities
Overview GCEO message ESG overview Financial overview Key performance Financial statements HOME NOTES NOTESTOTO THE THE CONDENSED CONDENSED CONSOLIDATED CONSOLIDATED FINANCIAL FINANCIAL STATEMENTS STATEMENTS forfor thethe period period ended ended 31 31 March March 2025 2025 continued continued 2. 2
Slide 24: Notes: segmental revenue and expenses
Overview GCEO message ESG overview Financial overview Key performance Financial statements HOME NOTES NOTESTOTO THE THE CONDENSED CONDENSED CONSOLIDATED CONSOLIDATED FINANCIAL FINANCIAL STATEMENTS STATEMENTS forfor thethe period period ended ended 31 31 March March 2025 2025 continued continued 2. 2
Slide 25: Notes: going concern, significant events and taxation
Overview GCEO message ESG overview Financial overview Key performance Financial statements HOME NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS for the period ended 31 March 2025 continued for the period ended 31 March 2025 continued
Slide 26: Notes: taxation and earnings per share
Overview GCEO message ESG overview Financial overview Key performance Financial statements HOME NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS for the period ended 31 March 2025 continued for the period ended 31 March 2025 continued
Slide 27: Notes: earnings per share and interest-bearing borrowings
Overview GCEO message ESG overview Financial overview Key performance Financial statements HOME NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS for the period ended 31 March 2025 continued for the period ended 31 March 2025 continued
Slide 28: Notes: borrowings and group funding
Overview GCEO message ESG overview Financial overview Key performance Financial statements HOME NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS for the period ended 31 March 2025 continued for the period ended 31 March 2025 continued
Slide 29: Notes: Moody's credit rating and related parties
Overview GCEO message ESG overview Financial overview Key performance Financial statements HOME NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS for the period ended 31 March 2025 continued for the period ended 31 March 2025 continued
Slide 30: Notes: cash generated from operations and commitments
Overview GCEO message ESG overview Financial overview Key performance Financial statements HOME NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS for the period ended 31 March 2025 continued for the period ended 31 March 2025 continued
Slide 31: Notes: error in classification of fleet saver facility
Overview GCEO message ESG overview Financial overview Key performance Financial statements HOME NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS for the period ended 31 March 2025 continued for the period ended 31 March 2025 continued
Slide 32: Notes: change in accounting estimate for residual values
Overview GCEO message ESG overview Financial overview Key performance Financial statements HOME NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS for the period ended 31 March 2025 continued NOTES 16. Change in accounting estimate – residual values rental fleet As part of the Group’s review o
Slide 33: www.zeda.co.za
a ve ZEDA Connecting humanity www.zeda.co.za