Page 168 - Profile's Stock Exchange Handbook - 2025 Issue 4

JSE - PIC Profile’s Stock Exchange Handbook: 2025 - Issue 4
Pick n Pay Stores Ltd. EMAIL: CompanySecretary@pnp.co.za
WEBSITE: www.picknpayinvestor.co.za
TELEPHONE: 021-658-1000
FAX: 086-675-1475
COMPANY SECRETARY: Vaughan Pierce
TRANSFER SECRETARY: Computershare Investor Services (Pty) Ltd.
SPONSOR: Rand Merchant Bank (A division of FirstRand Bank Ltd. (SA))
AUDITORS: Ernst & Young Inc.
BANKERS: Absa Bank Ltd., First National Bank of SA Ltd.
ISIN: ZAE000005443 SHORT: PICKNPAY CODE: PIK SEGMENTAL REPORTING as at 31 Aug 2025 (as a % of Turnover)
REG NO: 1968/008034/06 FOUNDED: 1967 LISTED: 1968 South Africa 96.9%
NATURE OF BUSINESS: Rest of Africa 3.1%
The Pick n Pay Group is a retail business in the fast-moving CALENDAR Expected Status
consumer goods (FMCG) industry. Pick n Pay Group Annual General Meeting Aug 2026 Unconfirmed
operates multiple store formats through an owned and CAPITAL STRUCTURE Authorised Issued
franchise model, including supermarkets, clothing and PIK Ords no par value 828 500 000 745 657 130
liquor stores and an online platform. PIK Bs no par value 361 500 000 325 462 164
The Group has stores across South Africa, Botswana, DISTRIBUTIONS [ZARc]
Eswatini, Lesotho, Namibia, Zambia and Zimbabwe. Ords no par val Ldt Pay Amt
5 Jun 23
Pick n Pay Group offers quality merchandise at competitive Final No 110 30 May 23 5 Dec 22 140.30
29 Nov 22
Interim No 109
44.85
prices, supported by strong and capable teams across Final No 108 31 May 22 6 Jun 22 185.35
Pick n Pay and Boxer. In FY25, Pick n Pay Group sharpened Interim No 107 30 Nov 21 6 Dec 21 35.80
its focus on getting the basics of retail right - buying LIQUIDITY: Sep25 Avg 12m shares p.w., R326.4m(81.4% p.a.)
better, simplifying its execution, and tightening cost
discipline. This renewed focus is enabling continued PICKNPAY 40 Week MA FOOR 8000
investment in its customer offer, with a compelling range
of high-quality food, grocery, clothing, liquor and general 7000
merchandise at great value. 6000
5000
SECTOR: CnsStp--PcDrugs&Groceries--PcDrugs&Groceries--Food 4000
MAJOR ORDINARY SHAREHOLDERS as at 2 Mar 2025
Ackerman Investment Holdings (Pty) Ltd. 25.40% 3000
Government Employees Pension Fund 18.20% 2000
Allan Gray 6.30% 1000
FINANCIAL STATISTICS 2021 2022 2023 2024 2025
Aug 25 Mar 25 Feb 24 Feb 23 Feb 22
(R million) Interim Final Final(rst) Final(rst) Final RECENT ANNOUNCEMENTS
Turnover 58 818 118 610 112 295 106 562 97 873 Monday, 27 October 2025: Revenue for the period increased
Op Inc 310 1 759 405 3 048 2 887
NetIntPd(Rcvd) 627 1 996 2 038 1 323 1 150 to R60.6 billion (R57.8 billion), with gross profit nudging
Tax - 78 26 - 988 538 547 up to R10.7 billion (R10.0 billion). Trading profit increased
Minority Int 173 85 - - - to R310.0 million (R83.0 million). Loss for the period
Att Inc - 496 - 736 - 3 301 1 170 1 215
TotCompIncLoss - 317 - 658 - 3 308 1 132 1 256 attributable to equity holders of the parent narrowed
Hline Erngs-CO - 439 - 408 977 1 246 1 259 to R496.0 million (loss of R827.0 million). Furthermore,
Fixed Ass 8 808 8 675 9 191 8 893 7 151 headline loss per share improved to 59.77 cents per share
Inv in Assoc - - - 72 106
Inv & Loans 130 143 170 118 86 (headline loss of 136.60 cents per share).
Def Tax Asset 3 092 2 749 2 165 734 823 Company outlook
Tot Curr Ass 21 057 20 718 20 469 17 665 19 251 H1 FY26 saw steady progress in the Group’s profit recovery.
Ord SH Int 9 733 10 297 - 293 3 703 3 716
Minority Int 835 668 - - - Boxer’s strong H1 FY26 performance was the result of
LT Liab 16 658 17 229 21 368 15 295 13 657 outstanding operational execution, and Boxer will continue
Tot Curr Liab 20 161 18 613 25 835 23 699 22 972 to drive its store rollout as it captures its substantial long-
PER SHARE STATISTICS (cents per share) term structural growth opportunity.
EPS (ZARc) - 67.53 - 111.01 - 581.85 243.37 253.34 Within Pick n Pay, much has been achieved. Accelerated like-
HEPS-C (ZARc) - 59.77 - 61.54 - 172.21 259.25 262.59
Pct chng p.a. - 2.9 64.3 - 166.4 - 1.3 14.5 for-like sales growth shows that customers are once again
DPS (ZARc) - - - 185.15 221.15 choosing Pick n Pay, and the gross profit margin recovery
Pct chng p.a. - - - 100.0 - 16.3 23.0 demonstrates that this is a sustainable recovery. The project
Tr 5yr av grwth % - - 22.0 - 23.3 1.2 5.8
NAV PS (ZARc) 1 385.87 1 449.90 - 11.90 803.00 827.10 to exit unprofitable stores has been successfully executed,
3 Yr Beta 1.01 0.62 0.47 - 0.23 - 0.16 with 65 loss-making, company-owned supermarkets
Price High 2 917 3 499 3 839 6 688 6 250 expected to have been closed or converted by the end of
Price Low 2 390 1 413 1 719 4 302 4 612
Price Prd End 2 758 2 815 1 976 4 563 4 644 FY26. This, taken together with stores that have become
RATIOS profitable, or have good prospects of becoming so, means
Ret on SH Fnd 3.06 - 5.94 1 126.62 31.59 32.69 that this leg of the strategic plan will largely be concluded
Ret On Tot Ass - 0.69 - 0.52 - 3.10 4.36 4.59 by the end of the financial year. Pick n Pay Clothing opened
Oper Pft Mgn 0.53 1.48 0.36 2.86 2.95
D:E 1.58 1.60 - 96.63 5.66 5.51 its 400th stand-alone store as it expanded its reach and
Int Cover - 1.89 4.10 1.50 19.70 154.80 delivered further market share gains. Online sales recorded
Current Ratio 1.04 1.11 0.79 0.75 0.84 solid double-digit growth, underscoring the Group’s
Div Cover - - - 1.31 1.30 growing competitiveness in the digital retail space.
DIRECTORS: Summers S (CEO), Olivier L (CFO), However, Pick n Pay continues to be loss making at the
Ackerman G M (ne), Ackerman S D (ne),
Ackerman J G (ne), Formby J (Chair, ind ne), trading profit level, with company owned supermarket like-
Bhorat H I (ind ne), Jakoet A (ind ne), for-like sales growth lagging slightly behind like-for-like
Mothupi A M (ind ne), van der Merwe A (ind ne), operating cost growth in the reporting period. The multi-
Viranna P (ind ne) year journey of returning Pick n Pay to a profitable and
POPULAR BRAND NAMES: Pick n Pay future fit business continues to be tackled in a purposeful
Supermarkets, Pick n Pay Hypermarkets, and methodical manner.
Pick n Pay Clothing, Pick n Pay Liquor, On a full-year FY26 basis, the Group expects the Pick n Pay
Pick n Pay Express, Pick n Pay asap!, Scan the QR code to
Pick n Pay Home, Boxer Superstores, visit our website segment trading loss to be broadly in line with FY25. This
Boxer Liquors, Boxer Build is because Pick n Pay continues to invest in critical skills to
POSTAL ADDRESS: PO Box 23087, Claremont, Cape Town, 7735 rebuild retail excellence to facilitate the achievement of its
trading profit after lease interest break-even target.
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