EarningsQ2 2026 Earnings Report
GB:87FZ Q2 2026 EPS Results
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GB:87FZ Q2 2026 Revenue Results
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Earnings Announcement Details
QuarterQ2 2026
Date08/11/2026
TimeBefore Open
Conference CallTuesday, August 11, 2026
GB:87FZ Upcoming Earnings
AECI Ltd's next earnings date is estimated for March 3, 2027, based on past reporting schedules.
Q2 2026 Earnings Call Audio
No earnings call audio is available for this earnings event.
Q2 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Neutral
The call conveys a balanced picture: AECI's core businesses (Mining and Chemicals core) showed clear operational recovery and profitability gains (EBITDA growth, EPS increases, improved ROIC and stronger cash/balance sheet versus prior year), supported by proactive supply‑chain resilience and disciplined capex. However, material negative items (Schirm Germany impairment and operating losses), elevated working capital and a near‑term free cash outflow of ZAR 952 million, along with ongoing external risks (geopolitical supply pressures and El Niño uncertainty) temper the outlook. Management expects working capital to unwind and profitability to improve in H2, but short‑term cash and the Schirm turnaround remain key challenges.Company Guidance
Group EBITDA and Underlying Improvement
Group EBITDA from continuing operations increased 2% to just over ZAR 1.6 billion; after adjusting for businesses disposed in H2 2025 (which contributed ZAR 133m EBITDA in the prior period) underlying EBITDA rose ~11% period-on-period.
Mining: Strong Revenue, EBITDA and Margins
AECI Mining revenue grew 6% to ZAR 9.3 billion and segment EBITDA rose 6% to just over ZAR 1.4 billion; operating margin ~12% (12.1% referenced) with robust volume growth (bulk explosives demand +14%) and regional contract wins (Mali, Zambia, Burkina Faso, South Africa) and >10% growth in Asia Pacific (notably Australia).
Chemicals Core Rebound
Chemicals core (excludes Schirm) delivered a marginal revenue increase of 1% and a 14% increase in EBITDA driven by industrial and specialty chemicals recovering, favorable commodity pricing and improved product mix.
Earnings Per Share and Shareholder Returns
Basic EPS increased 18% to ZAR 3.48 per share and headline EPS increased 8% to ZAR 6.53 per share; interim dividend raised 16% to ZAR 1.16 per share (dividend cover 3x). Four‑year share price CAGR cited at 10% p.a.
Balance Sheet Strength and Funding Costs
Cash and cash equivalents increased 14% to ZAR 2.5 billion; net debt fell year‑on‑year to ZAR 1.7 billion from ZAR 2.9 billion and gearing improved to 15%; net finance costs decreased 23% to ZAR 140 million.
Operational Resilience and Safety
Operations largely uninterrupted despite geopolitical supply pressures; proactive supply‑chain actions, alternate sourcing and strategic stockholding maintained continuity; safety outcome: zero fatalities in the period.
Sustainability Progress
Carbon footprint decreased by 4% despite increased production volumes, indicating improved emissions intensity.
Targeted Investment in Reliability and Growth
Capital expenditure rose to ZAR 417 million (maintenance ZAR 295m, growth ZAR 122m) with maintenance/optimization capex at 0.8x depreciation and amortization, supporting operational reliability and planned Modderfontein optimisation.
Improved Quality of Earnings
Return on invested capital increased to 13% (up from ~10% prior period), reflecting improved profitability and a lower invested capital base following disposals and portfolio actions.
GB:87FZ 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