Reported Earnings • 6h
Full year 2026 earnings released: R0.99 loss per share (vs R1.11 loss in FY 2025) Full year 2026 results: R0.99 loss per share (improved from R1.11 loss in FY 2025). Revenue: R123.2b (up 1.3% from FY 2025). Net loss: R728.0m (loss narrowed 1.1% from FY 2025). Revenue is forecast to grow 6.6% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Consumer Retailing industry in Europe. Over the last 3 years on average, earnings per share has fallen by 14% per year whereas the company’s share price has fallen by 10% per year. New Risk • May 25
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 German stocks, typically moving 9.1% 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. This is currently the only risk that has been identified for the company. Duyuru • Feb 10
Pick n Pay Stores Limited to Report Fiscal Year 2026 Results on May 26, 2026 Pick n Pay Stores Limited announced that they will report fiscal year 2026 results on May 26, 2026 Duyuru • Oct 08
Pick n Pay Stores Limited to Report First Half, 2026 Results on Oct 27, 2025 Pick n Pay Stores Limited announced that they will report first half, 2026 results on Oct 27, 2025 Duyuru • Jul 02
Pick n Pay Stores Limited, Annual General Meeting, Aug 05, 2025 Pick n Pay Stores Limited, Annual General Meeting, Aug 05, 2025. Duyuru • May 22
Pick n Pay Stores Limited to Report Fiscal Year 2025 Results on May 26, 2025 Pick n Pay Stores Limited announced that they will report fiscal year 2025 results at 7:05 AM, South Africa Standard Time on May 26, 2025 New Risk • Nov 01
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 52% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.4x net interest cover). Shareholders have been substantially diluted in the past year (52% increase in shares outstanding). Reported Earnings • Oct 29
First half 2025 earnings released: R1.41 loss per share (vs R1.19 loss in 1H 2024) First half 2025 results: R1.41 loss per share (further deteriorated from R1.19 loss in 1H 2024). Revenue: R56.1b (up 1.6% from 1H 2024). Net loss: R827.4m (loss widened 45% from 1H 2024). Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Consumer Retailing industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 82 percentage points per year, which is a significant difference in performance. Duyuru • Oct 28
Pick n Pay Stores Limited Provides Financial Guidance for the Fiscal Year 2025 Pick n Pay Stores Limited provided financial guidance for the fiscal year 2025. For the period, the company expects Turnover growth of Approximately 10-12%, of which approximately 5-7% like-for-like. Duyuru • Oct 18
Pick N Pay Stores Limited Provides Earnings Guidance for the Twenty Six Weeks to 25 August 2024 Pick n Pay Stores Limited provided earnings guidance for the twenty six weeks to 25 August 2024. For the period, the company expects Loss per share of 40.0% to 30.0% or 141.22 cents per share to 131.13 cents per share and Diluted LPS of 40.0% to 30.0% or 140.84 cents per share to 130.78 cents per share. Duyuru • Aug 27
Pick n Pay Stores Limited to Report First Half, 2025 Results on Oct 28, 2024 Pick n Pay Stores Limited announced that they will report first half, 2025 results on Oct 28, 2024 New Risk • Jul 21
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 German stocks, typically moving 12% 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 Risks Interest payments are not well covered by earnings (0.3x net interest cover). Share price has been highly volatile over the past 3 months (12% average weekly change). Duyuru • Jul 05
Pick n Pay Stores Limited Announces Resignation of Mariam Cassim as an Independent Non-Executive Director, Member of the Audit, Risk and Compliance Committee and the Finance and Investment Committee, Effective 5 July 2024 Ms. Mariam Cassim has resigned as an independent non-executive director of Pick n Pay Stores Limited, and accordingly as member of the Audit, Risk and Compliance Committee and the Finance and Investment Committee, effective 5 July 2024. Accordingly, Ms. Cassim will not be standing for re-election at the upcoming Annual General Meeting. Since her appointment as an independent non-executive director of Pick n Pay, Ms. Cassim's portfolio has grown as part of her executive role and responsibilities within the Vodacom Group. It is within this context that she has decided to step down given the increasing demands on her time and attention. While the Pick n Pay Board will miss her valuable contribution, the Board acknowledges her position and respects her decision. Duyuru • Jun 27
Pick n Pay Stores Limited, Annual General Meeting, Aug 27, 2024 Pick n Pay Stores Limited, Annual General Meeting, Aug 27, 2024. Reported Earnings • May 28
Full year 2024 earnings released: R6.62 loss per share (vs R2.43 profit in FY 2023) Full year 2024 results: R6.62 loss per share (down from R2.43 profit in FY 2023). Revenue: R114.9b (up 5.9% from FY 2023). Net loss: R3.19b (down 373% from profit in FY 2023). Revenue is forecast to grow 6.1% p.a. on average during the next 2 years, compared to a 5.2% growth forecast for the Consumer Retailing industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 48 percentage points per year, which is a significant difference in performance. Duyuru • May 28
Pick N Pay Stores Limited Does Not Declare Dividend for the Fiscal Year 2024 Pick n Pay Stores Limited announced that owing to the comparable loss declared for the period, the Board has not declared a FY24 dividend. Valuation Update With 7 Day Price Move • May 25
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to €1.14, the stock trades at a forward P/E ratio of 72x. Average forward P/E is 14x in the Consumer Retailing industry in Europe. Total loss to shareholders of 60% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €0.52 per share. Duyuru • May 24
Pick n Pay Stores Limited to Report Fiscal Year 2024 Results on May 27, 2024 Pick n Pay Stores Limited announced that they will report fiscal year 2024 results at 7:00 AM, South Africa Standard Time on May 27, 2024 New Risk • Apr 09
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 German stocks, typically moving 9.7% 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 Risks Interest payments are not well covered by earnings (1.4x net interest cover). Share price has been highly volatile over the past 3 months (9.7% average weekly change). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.1% net profit margin). Duyuru • Mar 13
Pick N Pay Stores Limited Announces Company Secretary Changes Pick n Pay Stores Limited announced that Vaughan Pierce will take over from Penny Gerber as Company Secretary of the Pick n Pay Group with effect from 14 March 2024. Penny Gerber CA (SA) has been appointed as the Group's Head of Corporate Affairs, and with her extensive experience spanning over 20 years with the Group will provide the executive management team with valuable support as the Group advances its two-step capitalisation plan. Vaughan Pierce BA (LLB) (LLM) has served as Senior Legal Advisor for the Group for 13 years. During his tenure, he has performed a number of other key roles, including as Vice Chairperson of the Pick n Pay Medical Aid Scheme and as Trustee on the Ackerman Pick n Pay Foundation and Feed the Nation Foundation. Vaughan assumed the role of Executive for ESG for the Pick n Pay Group two years ago, and he will continue to oversee the integration of environmental, social and governance considerations across the Group's operations. Penny will work closely with Vaughan to ensure a seamless transition in this pivotal role. New Risk • Feb 28
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 German stocks, typically moving 10% 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 Risks Interest payments are not well covered by earnings (1.4x net interest cover). Share price has been highly volatile over the past 3 months (10% average weekly change). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.1% net profit margin). Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to €1.06, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 11x in the Consumer Retailing industry in Europe. Total loss to shareholders of 56% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €0.46 per share. Duyuru • Jan 11
Pick n Pay Stores Limited Announces Changes to Group Management, Effective from 1 March 2024 Pick n Pay Stores Limited announced that Group CEO Sean Summers has appointed his senior leadership team as a key step in the drive to return Pick n Pay supermarkets to growth and profitability whilst ensuring the Online, Boxer and Clothing growth drivers continue to deliver. The appointments are made in conjunction with a structural realignment to allow the Group to focus with clarity on customers, buying, store execution and the store estate, and are effective from 1 March 2024. Dallas Langman has been appointed to the newly created position of Managing Executive of the Pick n Pay Retail Division. Dallas (54) has been with the Group for 34 years, having most recently been Managing Executive of the Rest of Africa division. Prior to this, his extensive experience includes senior management roles within Pick n Pay Supermarkets, Hypermarkets, and Franchise. Dallas is respected for his ability to drive consistent operational standards and team performance. Dallas will work closely with Sean to lead a step-change in the performance of the core Pick n Pay retail business. Within Pick n Pay Retail, five regional heads and a head of Retail Hypermarkets have been appointed. These appointments will drive enhanced regional management intensity at store level, leading to improved execution at stores, and allow Pick n Pay to get much closer to customers. Johan Grobler will take over Rest of Africa leadership from Dallas and will have additional responsibility for Value Added Services and Tomis, the newly acquired meat producing and processing facility. Johan (57) has been with the Group for 32 years, most recently being Head of Fresh within Pick n Pay Retail. The Group Executive will consist of six strategic roles. In line with the Group's transformation objectives, three of the Group Executive are women, including Group CFO Lerena Olivier, Chief People Officer Thembi Mbengashe, and Hazel Pillay, who will continue as Managing Executive for Clothing. Marek Masojada remains Boxer Managing Executive. New Risk • Oct 25
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 58% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.4x net interest cover). Share price has been highly volatile over the past 3 months (9.6% average weekly change). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.1% net profit margin). Valuation Update With 7 Day Price Move • Oct 23
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to €1.21, the stock trades at a forward P/E ratio of 42x. Average forward P/E is 12x in the Consumer Retailing industry in Europe. Total loss to shareholders of 48% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €1.99 per share. Duyuru • Oct 18
Pick N Pay Stores Limited Revises Earnings Guidance for the 26 Weeks Ended 27 August 2023 Pick n Pay Stores Limited revises earnings guidance for the 26 Weeks Ended 27 August 2023. For the period, the company now expected Loss per share to be within the 128.12 cents to 109.26 cents range (previously 98.18 cents to 79.31 cents). Diluted EPS 127.79 to 108.95. Valuation Update With 7 Day Price Move • Oct 06
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to €1.48, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 13x in the Consumer Retailing industry in Europe. Total loss to shareholders of 31% over the past three years. New Risk • Oct 05
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 German stocks, typically moving 8.8% 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 Risks Interest payments are not well covered by earnings (2.1x net interest cover). Share price has been highly volatile over the past 3 months (8.8% average weekly change). Minor Risk Dividend is not well covered by cash flows (401% cash payout ratio). Duyuru • Sep 18
Pick n Pay Stores Limited(JSE:PIK) dropped from FTSE All-World Index (USD) Pick n Pay Stores Limited(JSE:PIK) dropped from FTSE All-World Index (USD) Duyuru • Aug 01
Pick n Pay Stores Limited Provides Earnings Guidance for the First Half and Second Half of Fiscal Year 2024 Pick n Pay Stores Limited provided earnings guidance for the first half and second half of fiscal year 2024. In terms of section 3.4(b) of the JSE Listing Requirements, the Group announced shareholders that it expects earnings per share (EPS), headline earnings per share (HEPS), and pro forma headline earnings per share (pro forma HEPS) for first half of fiscal year 2024 to decrease by more than 20% when compared to EPS, HEPS and pro forma HEPS reported for first half of fiscal year 2023.Management expects the second half of fiscal year 2024 earnings outlook to be materially stronger than first half of fiscal year 2024 as a result of more supportive earnings seasonality, net incremental energy cost growth to be relatively low (given the high second half of fiscal year 2023 base), non-repeat of supply chain cost duplication, and efficiency gains from the first half of fiscal year 2024 Project Future initiatives beginning to contribute. Buying Opportunity • Jul 20
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 21%. The fair value is estimated to be €2.18, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.2% over the last 3 years. Earnings per share has grown by 7.4%. For the next 3 years, revenue is forecast to grow by 7.4% per annum. Earnings is also forecast to grow by 17% per annum over the same time period. Duyuru • Jun 29
Pick n Pay Stores Limited (JSE:PIK) concluded a sale and purchase agreement to acquire business operations of the Tomis group for approximately ZAR 340 million. Pick n Pay Stores Limited (JSE:PIK) concluded a sale and purchase agreement to acquire business operations of the Tomis group for approximately ZAR 340 million on June 28, 2023. The consideration will be split into an upfront cash consideration of ZAR 323 million, and a fixed capped deferred price of ZAR 17 million payable on the third anniversary of the transaction. Tomis’ managing director, Laurie Terblanche, is to remain with the Group. The Acquisition remains subject to a number of conditions precedent, including the relevant regulatory approvals and approval from Competition Commission. Buying Opportunity • Jun 28
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 13%. The fair value is estimated to be €2.30, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.2% over the last 3 years. Earnings per share has grown by 7.4%. For the next 3 years, revenue is forecast to grow by 7.5% per annum. Earnings is also forecast to grow by 21% per annum over the same time period. Buying Opportunity • Jun 09
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 13%. The fair value is estimated to be €2.35, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.2% over the last 3 years. Earnings per share has grown by 7.4%. For the next 3 years, revenue is forecast to grow by 7.4% per annum. Earnings is also forecast to grow by 24% per annum over the same time period. Valuation Update With 7 Day Price Move • Jun 07
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to €1.83, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 16x in the Consumer Retailing industry in Europe. Total loss to shareholders of 24% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €2.31 per share. Upcoming Dividend • May 24
Upcoming dividend of R1.40 per share at 5.6% yield Eligible shareholders must have bought the stock before 31 May 2023. Payment date: 05 June 2023. Payout ratio is on the higher end at 76%, and the cash payout ratio is above 100%. Trailing yield: 5.6%. Within top quartile of German dividend payers (4.6%). Higher than average of industry peers (4.4%). Buying Opportunity • May 15
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 32%. The fair value is estimated to be €2.12, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.2% over the last 3 years. Earnings per share has grown by 7.4%. For the next 3 years, revenue is forecast to grow by 8.0% per annum. Earnings is also forecast to grow by 27% per annum over the same time period. Reported Earnings • May 05
Full year 2023 earnings released: EPS: R2.43 (vs R2.53 in FY 2022) Full year 2023 results: EPS: R2.43 (down from R2.53 in FY 2022). Revenue: R108.6b (up 9.0% from FY 2022). Net income: R1.17b (down 3.7% from FY 2022). Profit margin: 1.1% (down from 1.2% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.7% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Consumer Retailing industry in Europe. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Duyuru • May 05
Pick n Pay Stores Limited Declares Dividend, Payable on 5 June 2023 Pick n Pay Stores Limited declared a final dividend of 140.30 cents per share, bringing the total fiscal 2023 dividend to 185.15 cents per share, down 16.3% on fiscal 2022 in line with the decline in the Group's pro forma headline earnings per share, maintaining a dividend cover of 1.3x pro forma earnings. Last day to trade CUM-dividend of 30 May 2023. Shares to commence trading EX-dividend on 31 May 2023. Record date was 2 June 2023. Dividend payment date is on 5 June 2023. Duyuru • Feb 18
Pick n Pay Stores Limited Announces Board Changes Pick n Pay Stores Limited announced that Mr. Jonathan Ackerman will take early retirement from his position as an executive director of the Pick n Pay Group with effect from 31 March 2023. Jonathan will continue to serve the Group on the Board in a non-executive capacity from 1 April 2023 and will serve on Pick n Pay's Social, Ethics and Transformation Committee from that date. Upcoming Dividend • Nov 23
Upcoming dividend of R0.45 per share Eligible shareholders must have bought the stock before 30 November 2022. Payment date: 05 December 2022. Payout ratio and cash payout ratio are on the higher end at 77% and 95% respectively. Trailing yield: 3.8%. Lower than top quartile of German dividend payers (4.9%). Lower than average of industry peers (4.7%). Duyuru • Nov 15
Pick n Pay Stores Limited, Annual General Meeting, Jul 19, 2023 Pick n Pay Stores Limited, Annual General Meeting, Jul 19, 2023. Duyuru • Nov 12
Pick n Pay Stores Limited to Report Fiscal Year 2023 Results on May 03, 2023 Pick n Pay Stores Limited announced that they will report fiscal year 2023 results on May 03, 2023 Duyuru • Sep 03
Public Investment Corporation Limited acquired minority stake in Pick n Pay Stores Limited (JSE:PIK). Public Investment Corporation Limited acquired minority stake in Pick n Pay Stores Limited (JSE:PIK) on September 2, 2022.
Public Investment Corporation Limited completed the acquisition of minority stake in Pick n Pay Stores Limited (JSE:PIK) on September 2, 2022. Valuation Update With 7 Day Price Move • Aug 17
Investor sentiment improved over the past week After last week's 17% share price gain to €3.78, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 13x in the Consumer Retailing industry in Europe. Total returns to shareholders of 32% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €7.40 per share. Duyuru • Jul 28
Pick n Pay Stores Limited Announces Executive Changes Pick n Pay Stores Limited announced that Debra Muller will be retiring as Company Secretary after this AGM and will be succeeded by Penny Gerber. Reported Earnings • Jun 29
Full year 2022 earnings released: EPS: R2.53 (vs R2.03 in FY 2021) Full year 2022 results: EPS: R2.53 (up from R2.03 in FY 2021). Revenue: R99.6b (up 5.3% from FY 2021). Net income: R1.21b (up 26% from FY 2021). Profit margin: 1.2% (up from 1.0% in FY 2021). Like-for-like sales growth: 4.5% vs FY 2021 Over the next year, revenue is forecast to grow 7.0%, compared to a 7.3% growth forecast for the retail industry in Germany. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Upcoming Dividend • May 25
Upcoming dividend of R1.85 per share Eligible shareholders must have bought the stock before 01 June 2022. Payment date: 06 June 2022. Payout ratio is on the higher end at 87%, however this is supported by cash flows. Trailing yield: 4.2%. Lower than top quartile of German dividend payers (4.3%). In line with average of industry peers (4.6%). Duyuru • May 25
Pick n Pay Stores Limited, Annual General Meeting, Jul 26, 2022 Pick n Pay Stores Limited, Annual General Meeting, Jul 26, 2022. Reported Earnings • May 19
Full year 2022 earnings released: EPS: R2.53 (vs R2.03 in FY 2021) Full year 2022 results: EPS: R2.53 (up from R2.03 in FY 2021). Revenue: R99.6b (up 5.3% from FY 2021). Net income: R1.21b (up 26% from FY 2021). Profit margin: 1.2% (up from 1.0% in FY 2021). Like-for-like sales growth: 4.5% vs FY 2021 Over the next year, revenue is forecast to grow 6.1%, compared to a 7.5% growth forecast for the retail industry in Germany. Over the last 3 years on average, earnings per share has fallen by 11% per year whereas the company’s share price has fallen by 6% per year. Duyuru • May 13
Pick n Pay Stores Limited to Report First Half, 2023 Results on Oct 18, 2022 Pick n Pay Stores Limited announced that they will report first half, 2023 results on Oct 18, 2022 Valuation Update With 7 Day Price Move • Apr 13
Investor sentiment improved over the past week After last week's 15% share price gain to €3.50, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 15x in the Consumer Retailing industry in Europe. Total loss to shareholders of 13% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €5.48 per share. Upcoming Dividend • Nov 24
Upcoming dividend of R0.36 per share Eligible shareholders must have bought the stock before 01 December 2021. Payment date: 06 December 2021. Trailing yield: 3.5%. Within top quartile of German dividend payers (3.2%). In line with average of industry peers (3.6%). Reported Earnings • Oct 23
First half 2022 earnings released: EPS R0.62 (vs R0.33 in 1H 2021) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2022 results: Revenue: R47.6b (up 5.8% from 1H 2021). Net income: R296.8m (up 87% from 1H 2021). Profit margin: 0.6% (up from 0.4% in 1H 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Reported Earnings • May 30
Full year 2021 earnings released: EPS R2.03 (vs R2.51 in FY 2020) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2021 results: Revenue: R94.7b (up 4.2% from FY 2020). Net income: R967.1m (down 19% from FY 2020). Profit margin: 1.0% (down from 1.3% in FY 2020). The decrease in margin was driven by higher expenses. Like-for-like sales growth: 3.1% vs FY 2020 Over the last 3 years on average, earnings per share has fallen by 13% per year whereas the company’s share price has fallen by 15% per year. Upcoming Dividend • May 26
Upcoming dividend of R1.61 per share Eligible shareholders must have bought the stock before 02 June 2021. Payment date: 07 June 2021. Trailing yield: 3.1%. Lower than top quartile of German dividend payers (3.2%). Lower than average of industry peers (4.0%). Duyuru • May 11
Clicks Group Limited (JSE:CLS) agreed to acquire Retail Pharmacy Business from Pick n Pay Stores Limited (JSE:PIK). Clicks Group Limited (JSE:CLS) agreed to acquire Retail Pharmacy Business from Pick n Pay Stores Limited (JSE:PIK) on May 10, 2021. Upon completion 25 in store pharmacies will be rebranded to Clicks. Clicks will acquire the pharmacy licenses and ethical drug stock, while all staff employed in the pharmacies will transfer from Pick n Pay to Clicks. The deal is subject to competition and regulatory authorities approval. Reported Earnings • Apr 26
Full year 2021 earnings released: EPS R2.03 (vs R2.51 in FY 2020) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2021 results: Revenue: R94.7b (up 4.2% from FY 2020). Net income: R967.1m (down 19% from FY 2020). Profit margin: 1.0% (down from 1.3% in FY 2020). The decrease in margin was driven by higher expenses. Like-for-like sales growth: 3.1% vs FY 2020 Over the last 3 years on average, earnings per share has fallen by 13% per year whereas the company’s share price has fallen by 16% per year. Executive Departure • Apr 24
CEO & Executive Director Richard William Brasher has left the company On the 21st of April, Richard William Brasher's tenure as CEO & Executive Director of the company ended after 8.2 years in the role. As of December 2020, Richard William personally held 64.80k shares (€174k worth at the time). A total of 3 executives have left over the last 12 months. Under Richard William's leadership, the company delivered a total shareholder return of 0.4%. Executive Departure • Apr 02
Chief Information Officer & Executive Director has left the company On the 31st of March, Richard S. van Rensburg's tenure in the role of Chief Information Officer & Executive Director ended. As of December 2020, Richard S. personally held 320.00k shares (€858k worth at the time). A total of 2 executives have left over the last 12 months. Duyuru • Mar 07
Pick n Pay Stores Limited Announces Retirement of Richard Van Rensburg as Executive Director, Effective 31 March 2021 Pick n Pay Stores Limited announced that Richard van Rensburg will be retiring from his position as executive director of company with effect from 31 March 2021. Duyuru • Feb 19
Pick n Pay Stores Limited to Report Fiscal Year 2021 Results on Apr 21, 2021 Pick n Pay Stores Limited announced that they will report fiscal year 2021 results on Apr 21, 2021 Is New 90 Day High Low • Feb 08
New 90-day high: €3.02 The company is up 7.0% from its price of €2.82 on 10 November 2020. The German market is up 12% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Consumer Retailing industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €2.12 per share. Duyuru • Jan 15
Pick N Pay Stores Limited Announces Executive Changes Pick n Pay Stores Limited announced that Richard Brasher will retire as CEO with effect from April 21, 2021. Richard will be succeeded as CEO on that date by Pieter Boone, former Chief Operating Officer of Metro AG. A Dutch national, Pieter has extensive international experience in the retail, food service and wholesale sectors and exceptional experience in delivering retail growth, including greenfield development. Is New 90 Day High Low • Jan 07
New 90-day low: €2.50 The company is down 1.0% from its price of €2.52 on 09 October 2020. The German market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Retailing industry, which is up 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €2.14 per share. Is New 90 Day High Low • Nov 07
New 90-day high: €2.80 The company is up 39% from its price of €2.02 on 07 August 2020. The German market is down 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Retailing industry, which is down 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €1.93 per share. Reported Earnings • Oct 21
First half earnings released Over the last 12 months the company has reported total profits of R966.6m, down 42% from the prior year. Total revenue was R91.9b over the last 12 months, largely unchanged from the prior year. Analyst Estimate Surprise Post Earnings • Oct 21
Semi-annual earnings released: Revenue beats expectations Semi-annual revenue exceeded analyst estimates by 3.1% at R44.2b. Revenue is forecast to grow 3.8% over the next year, compared to a 2.3% growth forecast for the Consumer Retailing industry in Germany. Is New 90 Day High Low • Oct 16
New 90-day high: €2.64 The company is up 8.0% from its price of €2.44 on 17 July 2020. The German market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Retailing industry, which is up 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €1.77 per share. Valuation Update With 7 Day Price Move • Oct 14
Market bids up stock over the past week After last week's 15% share price gain to R2.60, the stock is trading at a trailing P/E ratio of 20.8x, up from the previous P/E ratio of 18.1x. This compares to an average P/E of 21x in the Consumer Retailing industry in Europe. Total return to shareholders over the past three years is a loss of 24%. Duyuru • Oct 08
Pick n Pay Stores Limited to Report First Half, 2021 Results on Oct 20, 2020 Pick n Pay Stores Limited announced that they will report first half, 2021 results on Oct 20, 2020 
