| Imagery Source: enX Group Limited |
| Information Source: Share Net |
- Revenue from continuing operations: R378 million (2024: R557 million), down 32%
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- Profit before tax from continuing operations: R15 million (2024: R22 million), down 32%
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- HEPS from continuing operations: Loss of 1c per share (2024: Loss of 8c per share)
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- Net asset value per share: R5.24 (2024: R9.06)
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| During the financial year, enX completed the disposal of the Lubricants segment, unlocking R288 million in gross proceeds, and this, together with surplus unrestricted cash from previous divestments, enabled special distributions totalling R520 million to shareholders. |
| Following the classification of enX's Chemicals segment as a disposal group held for sale and a discontinued operation from 30 June 2025, and the disposal of the Fleet and Lubricants segments in June 2024 and March 2025, respectively, enX's continuing operations comprise the Power segment and the Service Centre. |
| The financial results from the continuing operations were negatively impacted by the lower demand in the Power segment with minimal loadshedding this year compared to approximately 120 days of loadshedding in the prior year, the delay in large-scale power data centre customer projects and the payment of the non-recurring R15 million limited guarantee claim under the Cap Leverage Proprietary Limited ("CapLev") shareholder indemnity which became due and payable when the Industrial Development Corporation called on its guarantee. |
| Revenue from continuing operations decreased 32% to R378 million (2024: R557 million). The Power segment revenues across all revenue streams were down significantly due to minimal loadshedding, which previously presented significant opportunities in the first half of 2024, together with the delay in large-scale power data centre customer projects. |
| Excluding the payment of the non-recurring R15 million limited guarantee claim under the CapLev shareholder indemnity, which became due and payable, Operating loss from continuing operations before net finance costs and impairments, was R23 million (2024: loss of R22 million). |
| Net financing income was R53 million (2024: R44 million) due to higher surplus cash balances. |
| Profit before tax from continuing operations was R15 million (2024: R22 million). Headline loss per share from continuing operations was a loss of 1 cent per share (2024: loss of 8 cents per share). |
| The net asset value per share was R5.24 per share (31 August 2024: R9.06). The reduction from the prior year is mainly due to cash being returned to shareholders in the form of special distributions amounting to R1.55 and R1.30 per enX ordinary share paid on 7 April 2025 and 11 August 2025, respectively. |
| The Group has R8 million (2024: R278 million) of interest-bearing liabilities, which includes the disposal group held for sale lease liabilities. Cash and cash equivalents (excluding the disposal group held for sale) were R175 million (31 August 2024: R772 million), of which R102 million is cash held at the Service Centre and R73 million is held at New Way Power to meet working capital requirements. |
| Net cash before financing amounted to an inflow of R241 million (2024: R811 million), including R153 million arising from the disposal of the Lubricants segment net of amounts paid into an escrow account and cash disposed of as part of the transaction. |
| enX's independent auditor, KPMG Inc., has issued their audit opinion on the Group and Company financial statements for the year ended 31 August 2025. The audit report can be accessed via the enX website https://www.enxgroup.co.za/annual-results/. The audit was conducted in accordance with International Standards on Auditing. KPMG Inc. has issued an unmodified audit opinion, and the audit opinion includes a key audit matter related to the disposal of the enX Lubricants segment. |
| This short-form announcement is the responsibility of the directors of the Company. This short-form announcement is only a summary of the 2025 Financial Statements and further narrative published on the Company's website (https://www.enxgroup.co.za/annual-results) on 11 November 2025 and does not contain complete details. Any investment decisions by investors and/or shareholders should be based on consideration of the full announcement. This short-form announcement has not been audited by the Company's auditors. |
| The 2025 Financial Statements can be accessed directly using the following JSE link: https://senspdf.jse.co.za/documents/2025/jse/isse/enx/FY2025.pdf |
| The 2025 Financial Statements, including the audit opinion, can be accessed via the enX website: https://www.enxgroup.co.za/annual-results/ |
| The 2025 Financial Statements are also available for inspection from 11 November 2025: |
- at the Company's registered office (9th Floor, Katherine Towers, 1 Park Lane, Sandton); and
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- Copies of the 2025 Financial Statements may be requested during office hours at no charge by emailing info@enxgroup.co.za or the Company's sponsor at jsesponsor@standardbank.co.za.
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| For the full document, click the link below |
| enX Group Limited |
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