EarningsQ4 2026 Earnings Report
BPPPF Q4 2026 EPS Results
Actual EPS$0.83
Consensus EPS―
Beat/Miss―
One Year Ago EPS$0.71
BPPPF Q4 2026 Revenue Results
Actual Revenue$7.06B
Expected Revenue―
Beat/Miss―
YoY Revenue Growth+10.39%
Earnings Announcement Details
QuarterQ4 2026
Date08/26/2026
TimeBefore Open
Conference CallWednesday, August 26, 2026
BPPPF Upcoming Earnings
Bid's next earnings date is estimated for February 24, 2027, based on past reporting schedules.
Q4 2026 Earnings Call Audio
BPPPF Q4 2026 Earnings Call
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Q4 2026 Earnings Slide Deck
Q4 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a broadly positive outlook: solid revenue growth (5% constant currency), meaningful trading profit and margin expansion (trading profit +8.2% and gross margin +30 bps), very strong cash generation (ZAR 7bn free cash flow) and a conservative balance sheet (net debt/EBITDA ~0.2x). These positives were tempered by region-specific headwinds — notably the Middle East disruption from the war, underperformance in Greater China, and elevated labor/fuel costs — but management articulated clear operational levers (vertical integration, technology, tight working capital, disciplined M&A, and continued capital returns) and early FY27 trading is described as encouraging. On balance, the highlights materially outweigh the lowlights.Company Guidance
Revenue Growth (Constant Currency)
Group revenue increased by 5% year-on-year in constant currency; management noted ~6% revenue growth in the first 8 weeks of the new financial year, demonstrating continued top-line momentum despite low GDP environments (weighted average GDP growth ~1.3–1.4%).
Trading Profit and Margin Expansion
Trading profit rose 8.2% in constant currency; management estimates an underlying/normalized operating profit improvement closer to 10% (adjusting for Middle East disruption and fuel spikes). Gross profit margin improved by ~30 basis points and second-half trading profit grew 9.5% year‑on‑year, showing sequential margin recovery.
Earnings per Share, Dividend and Capital Returns
HEPS up ~7% in constant currency (management statement) and EPS cited up 9.4%; final dividend increased ~7% to ZAR 6.25 per share. The group returned significant cash to shareholders, including share buybacks (~1% of shares) funded by strong cash generation.
Excellent Cash Generation and Strong Balance Sheet
Free cash flow of ZAR 7 billion; cash conversion of EBITDA targeted around 110–120%; net debt reduced to ~ZAR 3.8 billion with net debt/EBITDA ~0.2x. ZAR 5.2 billion of free cash flow was returned to shareholders (dividends and buybacks).
Regional Outperformance in Key Markets
Europe cluster trading margin improved from 5.5% to 6% with a 13% increase in profitability. U.K. trading margin rose from 3.7% to 4% (≈10% margin improvement), with U.K. trading profit up ~12% and revenue up ~7%. South Africa delivered a standout performance with profitability up 15%. Poland, Italy, Czech/Slovakia and Baltic businesses also reported strong improvements.
Operational Progress — Vertical Integration & Manufacturing
Strategic progress on house brands, vertical integration and in‑country manufacturing contributed to improved gross margins and resilience; management noted multiple manufacturing investments and bolt-on initiatives that lift long‑term margin potential.
Technology and Data-Led Efficiency Gains
Significant technology investment: replatforming B2B systems, deployment of micro AI solutions and agentic AI trials. Large data base (≈0.5 million customers, ~400,000 SKUs) is being leveraged for incremental efficiency, upselling and margin improvements.
Tighter Working Capital and CapEx Normalization
Net working capital days tightened from ~8 to ~5 (3-month moving average), and working capital to revenue improved to 2.8% from 3.5%. CapEx has peaked and is guided to normalize at ~1.5–2% of revenue going forward.
Disciplined M&A and Active Pipeline
Five small bolt-on acquisitions completed in the year (limited revenue impact); post-year acquisitions include a NZ export/Pacific business (~ZAR 80 million revenue) plus small manufacturing and bakery targets. Management remains acquisitive but price-disciplined.
BPPPF Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed