Page 121 - Profile's Stock Exchange Handbook - 2025 Issue 4

Profile’s Stock Exchange Handbook: 2025 - Issue 4 JSE - FOR
Fortress Real Estate Investments Ltd. The Foschini Group Ltd.

ISIN: ZAE000248506 SHORT: FORTRESSB CODE: FFB ISIN: ZAE000148466 SHORT: TFG CODE: TFG
REG NO: 2009/016487/06 FOUNDED: 2009 LISTED: 2009 ISIN: ZAE000148516 SHORT: TFG PREF CODE: TFGP
NATURE OF BUSINESS: Fortress is a real estate investment company REG NO: 1937/009504/06 FOUNDED: 1924 LISTED: 1941
with a focus on developing and letting premium-grade logistics NATURE OF BUSINESS: Established in 1924, TFG is a leading
real estate in SA and CEE, as well as growing our convenience and fashion, lifestyle and speciality retail group in South Africa, with an
commuter-oriented retail portfolio. Fortress also holds, at the date increasing presence in the UK and Australia. TFG’s portfolio offers
of this report, a 16.3% interest in NEPI Rockcastle, the largest listed a wide range of speciality products, including fashion apparel,
property company on the JSE, with a EUR7 billion portfolio across jewellery, cosmetics, sporting apparel, electronics, homeware and
nine CEE countries. furniture and value-added services. Credit account facilities are
SECTOR: RealEstate--RealEstate--InvestmentServices--Holdings available in TFG Africa.
NUMBER OF EMPLOYEES: 68 SECTOR: ConsDiscr--Retail--Retailers--ApparelRetailers
DIRECTORS: Bosman H (ind ne), Chetty T (ind ne), Hillary J (ind ne), NUMBER OF EMPLOYEES: 50 923
Ludolph S (ind ne), Majija S V, Mayisela N (ind ne), Naidoo V (ind ne), DIRECTORS: Backman B (ind ne), Coleman C (ind ne), Davin G H
Oblowitz E (ind ne), Rampheri C (ind ne), Brown S (CEO & MD), (ld ind ne), Friedland D (ind ne), Makgabo-Fiskerstrand B L M (ind ne),
Vorster I (CFO) Oblowitz E (ne), Potgieter J N (ind ne), Sowazi N L (ind ne), Stein R (ne),
MAJOR ORDINARY SHAREHOLDERS as at 9 Oct 2025 Zondi G (ind ne), Lewis M (Chair, ne), Thunström A E (CEO), Buddle R
Public Investment Corporation 24.06% (CFO)
Coronation Fund Managers 7.51% MAJOR ORDINARY SHAREHOLDERS as at 29 Sep 2025
Truffle Asset Management (Pty) Ltd. 7.30% Public Investment Corporation (SOC) Ltd. 20.41%
POSTAL ADDRESS: PO Box 138, Rivonia, 2128 Ninety One SA (Pty) Ltd. 10.09%
MORE INFO: www.sharedata.co.za/sdo/jse/FFB M&G Investment Management (Pty) Ltd. 10.02%
COMPANY SECRETARY: Tamlyn Stevens POSTAL ADDRESS: PO Box 6020, Parow East, 7501
TRANSFER SECRETARY: JSE Investor Services (Pty) Ltd. MORE INFO: www.sharedata.co.za/sdo/jse/TFG
SPONSOR: Java Capital (Pty) Ltd., Nedbank Corporate and COMPANY SECRETARY: D van Rooyen
Investment Banking, a division of Nedbank Ltd. TRANSFER SECRETARY: Computershare Investor Services (Pty) Ltd.
AUDITORS: KPMG Inc. SPONSOR: Rand Merchant Bank (A division of FirstRand Bank Ltd. (SA))
CAPITAL STRUCTURE Authorised Issued AUDITORS: Deloitte & Touche Inc.
FFB Ords no par val 2 000 000 000 1 218 250 389 CAPITAL STRUCTURE Authorised Issued
DISTRIBUTIONS [ZARc] TFG Ords 1.25c ea 600 000 000 331 027 300
200 000
Prefs 200c ea
200 000
TFGP
Ords no par val Ldt Pay Amt
Final No 27 14 Oct 25 21 Oct 25 86.29 DISTRIBUTIONS [ZARc]
Interim No 26 25 Mar 25 1 Apr 25 76.15 Ords 1.25c ea Ldt Pay Amt
LIQUIDITY: Oct25 Avg 10m shares p.w., R204.5m(42.5% p.a.) Final No 162 15 Jul 25 21 Jul 25 230.00
Interim No 161 30 Dec 24 6 Jan 25 160.00
FORTRESSB 40 Week MA REIV LIQUIDITY: Oct25 Avg 9m shares p.w., R1 138.7m(138.7% p.a.)
2400
2200
TFG 40 Week MA GERE
2000 20000
1800 18000
1600 16000
1400 14000
1200
12000
1000
10000
800
2021 2022 2023 2024 2025 8000
NOTE: All FFB shares were repurchased and delisted on 19 February 2021 2022 2023 2024 2025 6000
2024 and FFA shares were converted to FFB shares from 21
February 2024. FINANCIAL STATISTICS
FINANCIAL STATISTICS (R million) Mar 25 Mar 24 Mar 23 Mar 22 Mar 21
Jun 25 Jun 24 Jun 23 Jun 22 Jun 21 Final Final Final(rst) Final(rst) Final
(R million)
Final Final Final Final(rst) Final Turnover 58 271 56 221 51 778 43 370 32 950
NetRent/InvInc 6 016 4 384 3 788 3 446 3 233 Op Inc 659 3 450 3 334 3 058 134
Total Inc 6 122 4 442 3 850 3 735 3 284 NetIntPd(Rcvd) - 244 - 305 - 306 - 443 - 365
Attrib Inc 2 676 4 333 5 917 778 3 353 Att Inc 3 189 3 031 3 026 2 910 - 1 862
TotCompIncLoss 2 896 4 258 6 492 789 3 412 TotCompIncLoss 2 826 3 310 4 006 2 628 - 2 426
Ord UntHs Int 30 431 29 866 33 330 26 740 27 257 Fixed Ass 6 524 5 923 5 185 3 210 2 525
Investments 14 614 - - - - Inv & Loans 368 138 144 137 124
FixedAss/Prop 37 503 34 032 32 782 30 254 28 155 Tot Curr Ass 28 316 25 321 26 635 24 070 21 186
Tot Curr Ass 6 474 3 515 1 843 2 393 1 735 Ord SH Int 25 609 24 141 21 653 19 138 17 211
Total Ass 59 862 53 591 54 238 47 589 45 626 LT Liab 18 150 15 573 14 606 10 393 10 068
Tot Curr Liab 4 579 5 995 4 341 6 762 2 961 Tot Curr Liab 15 905 14 448 16 845 13 782 11 995
PER SHARE STATISTICS (cents per share) PER SHARE STATISTICS (cents per share)
HEPS-C (ZARc) 36.00 121.02 90.99 153.24 89.50 HEPS-C (ZARc) 1 015.60 970.70 968.90 1 009.00 197.90
DPS (ZARc) 162.44 70.19 - - 74.70 DPS (ZARc) 390.00 350.00 320.00 500.00 -
NAV PS (ZARc) 2 527.00 2 509.00 2 813.02 2 262.49 1 422.00 NAV PS (ZARc) 7 736.22 7 430.41 6 716.04 5 884.96 5 321.89
3 Yr Beta - - 0.67 1.00 0.95 3 Yr Beta 0.84 0.52 0.39 1.18 1.24
Price Prd End 2 008 1 652 1 286 1 069 1 358 Price High 17 867 11 913 15 184 16 688 12 449
Price High 2 125 1 730 1 338 1 627 1 544 Price Low 9 111 8 100 8 228 11 157 5 992
Price Low 1 584 1 225 877 1 041 1 130 Price Prd End 12 432 9 955 9 095 14 738 12 279
RATIOS RATIOS
RetOnSH Funds 8.73 14.46 17.57 2.97 12.41 Ret on SH Fnd 12.45 12.56 13.97 15.20 - 10.82
RetOnTotAss 10.42 12.26 11.50 10.47 8.75 Oper Pft Mgn 1.13 6.14 6.44 7.05 0.41
Debt:Equity 0.86 0.72 0.57 0.71 0.61 D:E 0.80 0.76 0.92 0.70 0.72
OperRetOnInv 11.54 12.88 11.55 11.39 11.48 Current Ratio 1.78 1.75 1.58 1.75 1.77
OpInc:Turnover 100.00 100.00 100.00 100.00 100.00 Div Cover 2.51 2.67 2.93 1.80 -
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