Spar Group Ltd (JSE:SPP)

Full Year 2025 SPAR Group Ltd Earnings Call Transcript

Dec 8, 2025 / 07:30 AM GMT

Release Date Price: R104.59 (+2.17%)

Transcript

Key Points

Positve

Spar Group Ltd (JSE:SPP) reported a 1.6% increase in group turnover to 132.4 billion rand, with operating profit improving by 2.3%.
The company achieved a significant reduction in net borrowings by 40%, demonstrating strong cash generation and financial discipline.
Spar Group Ltd (JSE:SPP) successfully exited non-core geographies, including Poland and Switzerland, which were not aligned with their investment thesis.
The company saw strong growth in its digital and omni-channel platforms, with a 136% increase in total order volumes year on year.
Spar Group Ltd (JSE:SPP) maintained a healthy gross profit mix in its liquor segment, with retail revenue increasing by 3.8%.

Negative

The company's headline earnings per share (HEPS) declined due to higher financing costs and a higher effective tax rate.
Spar Group Ltd (JSE:SPP) faced challenges in achieving its targeted operating margin in South Africa, ending at 1.7% versus the previously guided 2.1% to 2.3% range.
The company incurred significant impairments, totaling 5.2 billion rand, impacting its financial results.
Spar Group Ltd (JSE:SPP) experienced a decline in retailer loyalty by approximately 60 basis points over the full year.
The KZN distribution center is still less than halfway to achieving normal profitability, indicating ongoing operational challenges.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

SPPJ.J - SPAR Group Ltd
Full Year 2025 SPAR Group Ltd Earnings Call
Dec 08, 2025 / 07:30AM GMT

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Presentation
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Unidentified_1 [1]
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Good day and thank you for joining us as we present SPAR's annual results for the financial year ended September 2025.

This year was defined by deliberate focus. We concentrated on strengthening our core, simplifying our portfolio and building the foundations for future growth.

We made tough decisions, navigated uncertainty, and most importantly, we remain committed to our independent retailers who through their resilience, grow our brands in the communities they serve.

I'll start with a brief overview of the year.

And our strategic progress. Megan and I will then take you through the operational performance across Spar, Build it, and Spa Health, followed by Risa with the financial review.

I

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