Reported Earnings • Oct 02
Full year 2024 earnings released: EPS: P1.33 (vs P1.20 in FY 2023) Full year 2024 results: EPS: P1.33 (up from P1.20 in FY 2023). Revenue: P9.72b (up 6.6% from FY 2023). Net income: P334.5m (up 12% from FY 2023). Profit margin: 3.4% (up from 3.3% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Announcement • Sep 30
Sefalana Holding Company Limited, Annual General Meeting, Oct 25, 2024 Sefalana Holding Company Limited, Annual General Meeting, Oct 25, 2024. Location: plot 10038, corner of nelson mandela drive and kubu road, broadhurst industrial site, gaborone., Botswana Reported Earnings • Aug 04
Full year 2024 earnings released: EPS: P1.33 (vs P1.20 in FY 2023) Full year 2024 results: EPS: P1.33 (up from P1.20 in FY 2023). Revenue: P9.72b (up 6.6% from FY 2023). Net income: P334.5m (up 12% from FY 2023). Profit margin: 3.4% (up from 3.3% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Declared Dividend • Aug 02
Final dividend increased to P0.53 Dividend of P0.53 is 6.0% higher than last year. Ex-date: 7th August 2024 Payment date: 21st August 2024 Dividend yield will be 5.5%, which is higher than the industry average of 1.8%. Sustainability & Growth The dividend has increased by an average of 7.9% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 11% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Jul 31
Sefalana Holding Company Limited Declares Final Dividend for the Period Ended April 28, 2024, Payable on or About 21 August 2024 On 24 July 2024, the Board of Directors of Sefalana Holding Company Limited declared a final gross dividend of 53 the be per ordinary share for the period Ended April 28, 2024 - highest dividend to date . The final dividend will be paid net of applicable withholding taxes as required under the Income Tax Act of Botswana, on or about 21 August 2024 to all Shareholders registered in the books of the Company at the last date to register, being close of business on 9 August 2024, with an ex-dividend date of 7 August 2024. Board Change • Jul 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Non-Executive Director Sipho Ziga was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • May 25
Sefalana Holding Company Limited Appoints Sipho Ziga to the Board of Directors as A Non-Executive Director Sefalana Holding Company Limited (Sefalana) announced through the BSE the resignation or appointment of a director of the company. Sefalana is very pleased to announce the appointment of Mr. Sipho Ziga to the Board of Directors as a Non-Executive Director with effect from 1 June 2024. Mr. Sipho Ziga is a senior attorney in Botswana, with nearly 28 years of professional legal experience, with a focus on business law. Mr. Ziga has extensive experience in corporate commercial law, securities, and financial services regulations, and project finance. He has provided legal counsel to various BSE-listed and unlisted entities, and provided insight on issues surrounding corporate governance, BSE compliance, due diligence, acquisitions and the Botswana legal and regulatory environment. He has been recognized by Chambers Global - the World's Leading Lawyers for General Business law - as a leading business lawyer consistently since 2007. New Risk • Apr 16
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended April 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (22% accrual ratio). Minor Risks Latest financial reports are more than 6 months old (reported April 2023 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Upcoming Dividend • Feb 02
Upcoming dividend of P0.12 per share at 5.4% yield Eligible shareholders must have bought the stock before 09 February 2024. Payment date: 23 February 2024. Trailing yield: 5.4%. Lower than top quartile of Batswana dividend payers (9.3%). Higher than average of industry peers (2.1%). Declared Dividend • Jan 29
Final dividend of P0.12 announced Dividend of P0.12 is the same as last year. Ex-date: 9th February 2024 Payment date: 23rd February 2024 Dividend yield will be 5.4%, which is higher than the industry average of 1.9%. Sustainability & Growth Dividend is covered by earnings (52% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 7.9% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 11% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Jan 28
Sefalana Holding Company Limited Declares Interim Dividend, Payable on or About 23 February 2024 On 22 January 2024, the Board of Directors of Sefalana Holding Company Limited declared an interim gross dividend of 12 thebe per ordinary share. The interim dividend will be paid net of applicable withholding taxes as required under the Income Tax Act of Botswana, on or about 23 February 2024 to all Shareholders registered in the books of the Company at the last date to register, being close of business on 13 February 2024, with an ex- dividend date of Friday 9 February 2024. Announcement • Oct 31
Sefalana Holding Company Limited Announces Retirement of Mrs. Keneilwe Mere as A Non-Executive Director Sefalana Holding Company Limited announced the retirement by rotation of Mrs. Keneilwe Mere from the Board of Sefalana Holding Company Limited, with effect from 27 October 2023. Mrs. Mere did not offer herself for re-election due to other commitments. Mrs. Mere served as an independent non-executive director for the company for six years, and as a valued member of the Board, played a key role in the strategic direction of the Group and its success over the period. The Board of Sefalana would like to sincerely thank Mrs. Mere for her dedication to the Group during her tenure, and wishes her the best in all her future endeavours. New Risk • Oct 01
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 22% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (22% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (2.9% average weekly change). Announcement • Sep 30
Sefalana Holding Company Limited, Annual General Meeting, Oct 27, 2023 Sefalana Holding Company Limited, Annual General Meeting, Oct 27, 2023, at 14:00 Coordinated Universal Time. Location: Plot 10038, Corner of Nelson Mandela Drive and Kubu Road, Broadhurst Industrial Site Gaborone Botswana Agenda: To adopt the Notice and Agenda of the meeting; to receive, consider and adopt the Group's audited consolidated financial statements for the 53-week period ended 30 April 2023 together with the Directors' and Auditor's reports thereon; to approve the remuneration of the Executive Directors for the 53-week period ended 30 April 2023 as detailed in note 12 of the financial statements and in the Remuneration Report; to approve the appointment of Deloitte & Touche as Auditors for the ensuing financial year; to consider directorate reelections; and to consider other matters. New Risk • Aug 18
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Batswana stocks, typically moving 2.8% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (2.8% average weekly change). Minor Risk Latest financial reports are more than 6 months old (reported October 2022 fiscal period end). Upcoming Dividend • Aug 02
Upcoming dividend of P0.50 per share at 4.2% yield Eligible shareholders must have bought the stock before 09 August 2023. Payment date: 23 August 2023. Trailing yield: 4.2%. Lower than top quartile of Batswana dividend payers (9.1%). Higher than average of industry peers (2.3%). Board Change • Aug 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Non-Executive Director Keith Jefferis was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. New Risk • Jul 31
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended October 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. This is currently the only risk that has been identified for the company. Announcement • Jun 22
Sefalana Holding Company Limited Announces Changes to Board of Directors Sefalana Holding Company Limited announced through the BSE the resignation or appointment of a director of the company. Sefalana is very pleased to announce the appointment of Dr. Keith Jefferis to the Board of Directors as a Non-Executive Director with effect from 1 July 2023. Dr. Keith Jefferis is a Development Macroeconomist and a financial sector specialist, with over 40 years of experience. Dr. Jefferis is a former Deputy Governor of the Bank of Botswana and Senior Advisor in the Ministry of Finance. His professional activities include work on a range of macroeconomic, financial, and other development policy issues in Botswana, elsewhere in Sub - Saharan Africa and Asia. He has also served on the Committee of the Botswana Stock Exchange, the Board of Botswana Insurance Holdings Limited, and the Botswana Insurance Fund Management Investment Committee. Keith's expertise in thearea of macroeconomics and regional financial development, will provide significant guidance and value in line with the Group's growth and diversification strategy. He was previously appointed to the Board of Sefalana in April 2014 and resigned in 2020 in order to take up a senior position in the Government of Botswana. Upcoming Dividend • Feb 01
Upcoming dividend of P0.12 per share at 4.1% yield Eligible shareholders must have bought the stock before 08 February 2023. Payment date: 22 February 2023. Trailing yield: 4.1%. Lower than top quartile of Batswana dividend payers (8.5%). Higher than average of industry peers (2.5%). Upcoming Dividend • Nov 30
Upcoming dividend of P0.10 per share Eligible shareholders must have bought the stock before 07 December 2022. Payment date: 21 December 2022. Payout ratio is a comfortable 46% and this is well supported by cash flows. Trailing yield: 4.1%. Lower than top quartile of Batswana dividend payers (10.0%). Higher than average of industry peers (2.4%). Announcement • Nov 01
Sefalana Holding Announces Special Dividend Payable on 21 December 2022 Sefalana Holding Company Limited at the AGM held on October 28, 2022 approved special dividend of 10 thebe per ordinary share to be paid to shareholders on 21 December 2022. Reported Earnings • Sep 25
Full year 2022 earnings released: EPS: P0.88 (vs P0.86 in FY 2021) Full year 2022 results: EPS: P0.88 (up from P0.86 in FY 2021). Revenue: P7.52b (up 20% from FY 2021). Net income: P219.6m (up 1.6% from FY 2021). Profit margin: 2.9% (down from 3.4% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 2% per year. Announcement • Sep 24
Sefalana Holding Company Limited, Annual General Meeting, Oct 28, 2022 Sefalana Holding Company Limited, Annual General Meeting, Oct 28, 2022. Upcoming Dividend • Aug 03
Upcoming dividend of P0.30 per share Eligible shareholders must have bought the stock before 10 August 2022. Payment date: 24 August 2022. Trailing yield: 4.2%. Lower than top quartile of Batswana dividend payers (8.4%). Higher than average of industry peers (2.5%). Board Change • Apr 27
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Non-Executive Chairperson Jenny Marinelli was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Announcement • Apr 12
Sefalana Holding Company Limited Appoints Ms. Joanne Robinson as Group Company Secretary Sefalana Holding Company Limited appointed Ms. Joanne Robinson, as Group Company Secretary, with effect from 6 April 2022. Joanne is an admitted attorney, holding an LLB degree from the University of Botswana. Joanne has over a decade of experience as a practicing attorney, focussing on corporate commercial law, and now brings this wealth of experience to the Group. In her role as Group Company Secretary, Joanne will also provide internal legal advice to the Group. Board Change • Mar 05
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Non-Executive Chairperson Jenny Marinelli was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Announcement • Mar 03
Sefalana Holding Company Limited Announces Board Appointments Sefalana Holding Company Limited announced the appointment of a director of the company. Appointment of Non-Executive Directors: The Board announced the appointment of two Non-Executive Directors effective 1 March 2022: Mr. Mahube Mpugwa is the Chief Executive Officer of Kwa Nokeng Oil with 25 years of experience in the oil and retail industry in Botswana. Mahube has held several directorships, pioneering various business development programs within the petroleum industry. Mahube is passionate about developing a workforce culture that drives impactful outcomes and will play a critical role in the Group's diversification and expansion strategies; Ms Paula Disberry is a Retail Consultant and an Executive Coach with over 30 years of experience. Paula has held key leadership positions in a number of multinational Retail and FMCG businesses across the world, such as British Petroleum, Colgate Palmolive, Tesco, Woolworths and Pick n Pay. Paula has played an instrumental role in driving innovation, e-commerce, customer and people strategies, all of which will add immense value in driving forward Group's strategic direction. The Board announced the appointment of the following Executive Director effective 1 March 2022: Mr. Gerhard Scheepers is currently the Chief Executive Officer of Sefalana Cash & Carry Botswana. Gerhard has over 27 years of experience in the FMCG industry within Southern Africa. Gerhard joined the Sefalana Group in 2016 where he played a key role in building the Lesotho business. He then joined Sefalana Cash & Carry Botswana as the Country Wholesale Executive in 2018. Gerhard has a strong background in operations and business development and will continue to add value in enhancing efficiencies and profitability for the Group. Upcoming Dividend • Feb 07
Upcoming dividend of P0.10 per share Eligible shareholders must have bought the stock before 14 February 2022. Payment date: 23 February 2022. Payout ratio is a comfortable 52% and this is well supported by cash flows. Trailing yield: 4.2%. Lower than top quartile of Batswana dividend payers (8.2%). Higher than average of industry peers (2.1%). Reported Earnings • Feb 01
First half 2022 earnings: EPS in line with analyst expectations despite revenue beat First half 2022 results: EPS: P0.35 (down from P0.45 in 1H 2021). Revenue: P3.49b (up 20% from 1H 2021). Net income: P88.9m (down 21% from 1H 2021). Profit margin: 2.5% (down from 3.9% in 1H 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 3.6%. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has increased by 3% per year. Announcement • Jan 30
Sefalana Holding Company Limited Announces Resignation of Gofaone Senna as Group Company Secretary Sefalana Holding Company Limited announced that Ms. Gofaone Senna has resigned as the Group Company Secretary with effect from 28 January 2022. Reported Earnings • Oct 08
Full year 2021 earnings released: EPS P0.86 (vs P0.79 in FY 2020) The company reported a solid full year result with improved earnings and revenues, although profit margins were flat. Full year 2021 results: Revenue: P6.29b (up 7.8% from FY 2020). Net income: P216.2m (up 9.2% from FY 2020). Profit margin: 3.4% (in line with FY 2020). Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 2% per year. Upcoming Dividend • Aug 06
Upcoming dividend of P0.30 per share Eligible shareholders must have bought the stock before 13 August 2021. Payment date: 25 August 2021. Trailing yield: 4.2%. Lower than top quartile of Batswana dividend payers (8.3%). Higher than average of industry peers (2.0%). Reported Earnings • Aug 01
Full year 2021 earnings released: EPS P0.86 (vs P0.79 in FY 2020) The company reported a solid full year result with improved earnings and revenues, although profit margins were flat. Full year 2021 results: Revenue: P6.29b (up 7.8% from FY 2020). Net income: P216.2m (up 9.2% from FY 2020). Profit margin: 3.4% (in line with FY 2020). Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 2% per year. Upcoming Dividend • Feb 03
Upcoming Dividend of P0.10 Per Share Will be paid on the 24th of February to those who are registered shareholders by the 10th of February. The trailing yield of 4.0% is below the top quartile of Batswana dividend payers (8.0%), but it is higher than industry peers (2.4%). Reported Earnings • Jan 31
First half 2021 earnings released: EPS P0.45 (vs P0.34 in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: P2.91b (up 2.3% from 1H 2020). Net income: P113.0m (up 31% from 1H 2020). Profit margin: 3.9% (up from 3.0% in 1H 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Announcement • Dec 03
Sefalana Holding Company Limited Announces Appointment of Jennifer Marinelli as Board Chairperson Sefalana announced the appointment of Mrs. Jennifer Marinelli to the Board of Directors as a Non-Executive Director and as its Chairperson with effect from 1 December 2020. Mrs. Marinelli is a qualified Chartered Accountant and a former Partner at Deloitte & Touche. Whilst at Deloitte & Touche she was responsible for training and technical matters and was part of the Accountants' Training organisation that over the years became the Botswana Accountancy College.