Motus Holdings Limited has released its unaudited condensed interim results for the six months ended 31 December 2023, showcasing resilience amidst a challenging economic landscape.
Financial Highlights
Motus reported a notable increase in revenue, up by 11% to R57,167 million, driven by strong performances in the Retail and Rental segment, as well as the Aftermarket Parts segment. Despite economic headwinds, the company’s EBITDA saw a significant rise of 13% to R4,203 million, indicating robust operational performance. However, profit before tax experienced a decline of 25% to R1,507 million, attributed to margin pressure and reduced demand in certain segments.
| Metric | Amount (R Million) |
|---|---|
| Revenue | 57,167 |
| EBITDA | 4,203 |
| Operating Profit | 2,647 |
| Profit Before Tax | 1,507 |
| Attributable Profit | 1,112 |
| Earnings Per Share | 666 cents |
| Interim Dividend | 235 cents per share |
| Net Asset Value | 9,957 cents per share |
Operational Performance
Motus’ strategic initiatives, including internationalization and diversification, supported its performance despite market challenges. The company completed two significant acquisitions in the UK and Australia, contributing to revenue growth. Additionally, the Retail and Rental segment and Aftermarket Parts segment saw notable improvements, while the Import and Distribution segment faced a decrease.
Dividend Declaration
In light of its performance, Motus declared an interim dividend of 235 cents per ordinary share, subject to a local dividend tax rate of 20%. The dividend reflects the company’s commitment to delivering value to its shareholders amidst a challenging economic environment.
Outlook
Looking ahead, Motus anticipates positive revenue and EBITDA growth for the 12 months to 30 June 2024. The company remains focused on reducing net debt, improving operational efficiencies, and delivering long-term value to its stakeholders.
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