Bekanntmachung • Jun 03
Kolos Cement Ltd, Annual General Meeting, Jun 20, 2025 Kolos Cement Ltd, Annual General Meeting, Jun 20, 2025, at 09:15 Arabian Standard Time. Location: hilton mauritius resort & spa, wolmar, flic en flac, mauritius, Mauritius Reported Earnings • Nov 05
Third quarter 2024 earnings released: EPS: MU₨1.66 (vs MU₨0.73 in 3Q 2023) Third quarter 2024 results: EPS: MU₨1.66 (up from MU₨0.73 in 3Q 2023). Revenue: MU₨720.3m (up 9.2% from 3Q 2023). Net income: MU₨44.7m (up 128% from 3Q 2023). Profit margin: 6.2% (up from 3.0% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Aug 06
Upcoming dividend of MU₨2.40 per share Eligible shareholders must have bought the stock before 13 August 2024. Payment date: 25 September 2024. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 2.1%. Lower than top quartile of Mauritian dividend payers (6.0%). Lower than average of industry peers (4.7%). New Risk • Aug 05
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Mauritian stocks, typically moving 4.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 36% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (4.3% average weekly change). Market cap is less than US$100m (MU₨4.32b market cap, or US$93.2m). Reported Earnings • Aug 01
Second quarter 2024 earnings released: EPS: MU₨0.64 (vs MU₨0.08 loss in 2Q 2023) Second quarter 2024 results: EPS: MU₨0.64 (up from MU₨0.08 loss in 2Q 2023). Revenue: MU₨624.9m (down 4.5% from 2Q 2023). Net income: MU₨17.3m (up MU₨19.5m from 2Q 2023). Profit margin: 2.8% (up from net loss in 2Q 2023). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 62% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Bekanntmachung • Jun 05
Kolos Cement Ltd, Annual General Meeting, Jun 21, 2024 Kolos Cement Ltd, Annual General Meeting, Jun 21, 2024, at 10:45 Arabian Standard Time. Location: hilton mauritius resort & spa, wolmar, flic en flac, Mauritius New Risk • May 27
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.5x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.5x net interest cover). Earnings have declined by 38% per year over the past 5 years. Reported Earnings • May 14
First quarter 2024 earnings released: EPS: MU₨1.02 (vs MU₨1.69 loss in 1Q 2023) First quarter 2024 results: EPS: MU₨1.02 (up from MU₨1.69 loss in 1Q 2023). Revenue: MU₨503.8m (down 3.4% from 1Q 2023). Net income: MU₨27.6m (up MU₨73.2m from 1Q 2023). Profit margin: 5.5% (up from net loss in 1Q 2023). The move to profitability was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 79 percentage points per year, which is a significant difference in performance. New Risk • Apr 07
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.2x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.2x net interest cover). Earnings have declined by 39% per year over the past 5 years. Minor Risk Profit margins are more than 30% lower than last year (0.6% net profit margin). Declared Dividend • Mar 27
Dividend of MU₨3.30 announced Shareholders will receive a dividend of MU₨3.30. Ex-date: 15th April 2024 Payment date: 3rd May 2024 Dividend yield will be 1.6%, which is lower than the industry average of 2.3%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. The dividend is also not covered by cash flows (117% cash payout ratio). The dividend has increased by an average of 2.8% per year over the past 5 years. However, payments have been volatile during that time. Reported Earnings • Mar 26
Full year 2023 earnings released: EPS: MU₨0.58 (vs MU₨1.92 in FY 2022) Full year 2023 results: EPS: MU₨0.58 (down from MU₨1.92 in FY 2022). Revenue: MU₨2.54b (up 3.9% from FY 2022). Net income: MU₨15.6m (down 70% from FY 2022). Profit margin: 0.6% (down from 2.1% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 97 percentage points per year, which is a significant difference in performance. New Risk • Nov 22
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 0.1x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.1x net interest cover). Earnings have declined by 39% per year over the past 5 years. New Risk • Aug 13
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 0.3x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.3x net interest cover). Earnings have declined by 34% per year over the past 5 years. Reported Earnings • Aug 10
Second quarter 2023 earnings released: MU₨0.08 loss per share (vs MU₨1.25 profit in 2Q 2022) Second quarter 2023 results: MU₨0.08 loss per share (down from MU₨1.25 profit in 2Q 2022). Revenue: MU₨654.7m (flat on 2Q 2022). Net loss: MU₨2.19m (down 107% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. Bekanntmachung • Jun 02
Kolos Cement Ltd, Annual General Meeting, Jun 23, 2023 Kolos Cement Ltd, Annual General Meeting, Jun 23, 2023, at 09:45 Mauritius Standard Time. Location: Voilà Hotel, Mall of Mauritius, Bagatelle Mauritius Reported Earnings • May 13
First quarter 2023 earnings released: MU₨1.69 loss per share (vs MU₨0.42 profit in 1Q 2022) First quarter 2023 results: MU₨1.69 loss per share (down from MU₨0.42 profit in 1Q 2022). Revenue: MU₨521.7m (up 9.4% from 1Q 2022). Net loss: MU₨45.6m (down MU₨56.9m from profit in 1Q 2022). Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. Upcoming Dividend • Apr 11
Upcoming dividend of MU₨1.77 per share at 2.0% yield Eligible shareholders must have bought the stock before 18 April 2023. Payment date: 05 May 2023. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 2.0%. Lower than top quartile of Mauritian dividend payers (6.1%). Lower than average of industry peers (4.3%). Reported Earnings • Apr 08
Full year 2022 earnings released: EPS: MU₨1.92 (vs MU₨4.14 in FY 2021) Full year 2022 results: EPS: MU₨1.92 (down from MU₨4.14 in FY 2021). Revenue: MU₨2.53b (up 38% from FY 2021). Net income: MU₨51.8m (down 54% from FY 2021). Profit margin: 2.1% (down from 6.1% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. Board Change • Nov 16
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 6 experienced directors. 3 highly experienced directors. 4 independent directors (6 non-independent directors). Independent Non-Executive Director Jacqueline Sitorus was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Nov 06
Third quarter 2022 earnings released: EPS: MU₨1.43 (vs MU₨0.91 in 3Q 2021) Third quarter 2022 results: EPS: MU₨1.43 (up from MU₨0.91 in 3Q 2021). Revenue: MU₨665.6m (up 35% from 3Q 2021). Net income: MU₨38.6m (up 57% from 3Q 2021). Profit margin: 5.8% (up from 5.0% in 3Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Upcoming Dividend • Aug 05
Upcoming dividend of MU₨2.45 per share Eligible shareholders must have bought the stock before 12 August 2022. Payment date: 30 August 2022. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 2.1%. Lower than top quartile of Mauritian dividend payers (4.3%). Lower than average of industry peers (4.2%). Reported Earnings • Aug 01
Second quarter 2022 earnings released: EPS: MU₨1.25 (vs MU₨1.48 in 2Q 2021) Second quarter 2022 results: EPS: MU₨1.25 (down from MU₨1.48 in 2Q 2021). Revenue: MU₨652.4m (up 47% from 2Q 2021). Net income: MU₨33.7m (down 16% from 2Q 2021). Profit margin: 5.2% (down from 9.0% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. Bekanntmachung • Jul 30
Kolos Cement Ltd Declares Interim Dividend for the Financial Year Ending December 31, 2022, Payable on or About August 30, 2022 The Board of Directors of Kolos Cement Ltd. has declared an interim dividend of MUR 2.45 per share to all shareholders registered at the close of business on August 17, 2022, in respect of the financial year ending December 31, 2022. The dividend will be paid on or about August 30, 2022. The shares of the company will be traded cum-dividend up to and including the market day of August 11, 2022 and ex-dividend as from the August 12, 2022. Bekanntmachung • Jun 04
Kolos Cement Ltd, Annual General Meeting, Jun 24, 2022 Kolos Cement Ltd, Annual General Meeting, Jun 24, 2022, at 10:45 Mauritius Standard Time. Location: Hilton Mauritius Resort & Spa, Wolmar Flic En Flac Mauritius Reported Earnings • May 10
First quarter 2022 earnings released: EPS: MU₨0.42 (vs MU₨1.46 in 1Q 2021) First quarter 2022 results: EPS: MU₨0.42 (down from MU₨1.46 in 1Q 2021). Revenue: MU₨476.9m (up 47% from 1Q 2021). Net income: MU₨11.3m (down 71% from 1Q 2021). Profit margin: 2.4% (down from 12% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 21% per year, which means it is well ahead of earnings. Board Change • Apr 27
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 6 experienced directors. 3 highly experienced directors. 4 independent directors (6 non-independent directors). Independent Non-Executive Director Jacqueline Sitorus was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Upcoming Dividend • Apr 04
Upcoming dividend of MU₨1.97 per share Eligible shareholders must have bought the stock before 11 April 2022. Payment date: 29 April 2022. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 3.1%. Lower than top quartile of Mauritian dividend payers (3.6%). In line with average of industry peers (3.3%). Reported Earnings • Mar 31
Full year 2021 earnings released: EPS: MU₨4.14 (vs MU₨5.37 in FY 2020) Full year 2021 results: EPS: MU₨4.14 (down from MU₨5.37 in FY 2020). Revenue: MU₨1.84b (up 32% from FY 2020). Net income: MU₨111.7m (down 23% from FY 2020). Profit margin: 6.1% (down from 10% in FY 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 21% per year, which means it is well ahead of earnings. Bekanntmachung • Mar 30
Kolos Cement Ltd Declares Final Dividend in Respect of the Financial Year Ended 31 December 2021, Payable on or About 29 April 2022 The Board of Directors of Kolos Cement Ltd. has declared a final dividend of MUR 1.97 per share to all shareholders registered at the close of business on 13 April 2022, in respect of the financial year ended 31 December 2021. The dividend will be paid on or about 29 April 2022. The shares of the company will be traded cum-dividend up to and including the market day of 08 April 2022 and ex-dividend as from the 11 April 2022. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS MU₨0.91 (vs MU₨2.66 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: MU₨494.1m (up 1.0% from 3Q 2020). Net income: MU₨24.7m (down 66% from 3Q 2020). Profit margin: 5.0% (down from 15% in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 20% per year, which means it is well ahead of earnings. Upcoming Dividend • Aug 16
Upcoming dividend of MU₨3.30 per share Eligible shareholders must have bought the stock before 23 August 2021. Payment date: 30 September 2021. Trailing yield: 3.5%. Lower than top quartile of Mauritian dividend payers (3.9%). Higher than average of industry peers (2.7%). Reported Earnings • Aug 11
Second quarter 2021 earnings released: EPS MU₨1.48 (vs MU₨0.45 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: MU₨443.3m (up 117% from 2Q 2020). Net income: MU₨39.9m (up 227% from 2Q 2020). Profit margin: 9.0% (up from 6.0% in 2Q 2020). The increase in margin was driven by higher revenue. Reported Earnings • May 10
First quarter 2021 earnings released The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: MU₨324.5m (up 29% from 1Q 2020). Net income: MU₨39.6m (up 83% from 1Q 2020). Profit margin: 12% (up from 8.6% in 1Q 2020). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • May 01
Investor sentiment improved over the past week After last week's 16% share price gain to MU₨155, the stock trades at a trailing P/E ratio of 28.9x. Average trailing P/E is 23x in the Trade Distributors industry in Africa. Total returns to shareholders of 85% over the past three years. Upcoming Dividend • Apr 05
Upcoming dividend of MU₨5.25 per share Eligible shareholders must have bought the stock before 12 April 2021. Payment date: 30 June 2021. Trailing yield: 4.5%. Lower than top quartile of Mauritian dividend payers (4.6%). Lower than average of industry peers (5.1%). Reported Earnings • Mar 30
Full year 2020 earnings released: EPS MU₨5.37 (vs MU₨6.51 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: MU₨1.39b (down 6.0% from FY 2019). Net income: MU₨145.1m (down 17% from FY 2019). Profit margin: 10% (down from 12% in FY 2019). The decrease in margin was driven by lower revenue. Is New 90 Day High Low • Jan 14
New 90-day high: MU₨139 The company is up 2.0% from its price of MU₨136 on 16 October 2020. The Mauritian market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Trade Distributors industry, which is up 29% over the same period. Reported Earnings • Nov 21
Third quarter 2020 earnings released: EPS MU₨2.66 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: MU₨489.3m (up 23% from 3Q 2019). Net income: MU₨71.7m (up 83% from 3Q 2019). Profit margin: 15% (up from 9.8% in 3Q 2019). The increase in margin was driven by higher revenue.