Remgro reported a robust set of interim results for the six months ended 31 December, with headline earnings per share surging 38.5% to 931 cents and interim dividends increasing 80.2% to 173 cents per share.
A key driver of this growth was Community Investment Ventures Holdings (CIVH), Remgro’s fibre asset company, which contributed R264 million to Remgro’s headline earnings, reflecting improved operational performance and strategic positioning within the group’s investment portfolio.
In a statement, the JSE-listed Remgro says CIVH’s impact was further amplified through the completion of the Vodacom-Maziv transaction, which delivered a pre-implementation dividend of R2.66 billion directly to Remgro.
This inflow provided a substantial boost to Remgro’s cash reserves and underscored CIVH’s strategic value within the portfolio, says the company.
Remgro CEO Jannie Durand highlighted the significance of CIVH’s contribution, saying CIVH continues to demonstrate strong operational execution, and the transaction with Vodacom has unlocked substantial value, providing both immediate cash generation and long-term strategic exposure to telecoms assets.
The much-anticipated Vodacom-Maziv fibre deal successfully cleared critical regulatory approvals last year, with South Africa’s Independent Communications Authority and the Competition Appeal Court authorising Vodacom to acquire 30% of Maziv.
Maziv holds key fibre network assets, including Vumatel and Dark Fibre Africa. First announced in 2021 and valued at around R13 billion, the transaction experienced multi-year delays over competition concerns.
However, adjustments to the deal structure and regulatory concessions allowed all conditions to be satisfied, enabling implementation from December, marking a significant step in Vodacom’s expansion in South Africa’s broadband infrastructure sector.
Remgro’s overall earnings increase was supported by strong contributions from other key investee companies, including Mediclinic (R485 million), Rainbow Chicken (R280 million) and Heineken Beverages (R166 million).
The company’s total earnings rose to R5.17 billion, up from R3.66 billion in the prior period, reflecting sustained portfolio performance and disciplined capital allocation.
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