This article was first published gurufocus.
-
Headline Earnings Per Share (HEPS): A 98% increase from ZAR1.08 to ZAR2.13 in 2024.
-
Responsible Benefits: The deficit increased from ZAR200 million the previous year to ZAR44 million.
-
Dividend declared: ZAR0.42, up 5% from last year's ZAR0.40.
-
Reduction in Net Debt: A reduction of ZAR520 million in 2025, totaling more than ZAR1 billion over two years.
-
Oceana shares sold: 11.95 million shares were sold for ZAR633 million.
-
Oceana Equity Accounting Income: ZAR181 million, down from ZAR299.6 million the previous year.
-
Earning from sea harvest: ZAR151.5 million, up from ZAR111.4 million the previous year.
-
FPG Asset Fund Revaluation: increased from ZAR52 million to ZAR492.4 million.
-
Obsidian Health Contribution: Group profit of ZAR20 million, up from ZAR13.8 million the previous year.
-
Finance costs: There was a 41% decline year-on-year.
-
current ratio: Increase from 1.43 times in 2024 to 1.69 times in 2025.
-
gearing ratio: Increase from 40% in 2024 to 34.4% in 2025.
-
Internal net asset value per share (INAV): Decrease of 11% year-on-year.
Release Date: March 03, 2026
For a full transcript of the earnings call, please visit full earnings call transcript.
-
Brimstone Investment Corp. Ltd.JSE:BRN) reported a significant increase in headline earnings per share, which increased 98% to ZAR2.13 from ZAR1.08 in the previous year.
-
The company successfully reduced its net debt by ZAR1 billion in two years, exceeding its target of ZAR600 million debt reduction by December 2025.
-
Brimstone's investment in Sea Harvest showed strong performance, with the market value of the shares increasing from ZAR1.3 billion to ZAR1.5 billion, and earnings increasing from ZAR111.4 million to ZAR151.5 million.
-
The company declared a dividend of ZAR0.42, up 5% from last year's ZAR0.40.
-
Brimstone's investment in the FPG Property Fund was revalued to more than ZAR52 million, reflecting strong performance across its property portfolio.
-
Brimstone's stake in Oceana dropped from 25% to 16% following the sale of 11.95 million shares, resulting in a book loss of ZAR264 million.
-
The company experienced a reduction in cash dividends received from Oceana, which dropped from ZAR162 million to ZAR72.4 million.
-
Operating profit declined 56%, mainly due to Sea Harvest's contribution from the previous year, which was not repeated.
-
Fair value profits declined by 86%, impacting overall financial performance.
-
Persistently high unemployment and high crime levels in South Africa remain challenges for the company and its operating environment.