Wrap Text
Summarised Group Financial Results
enX GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2001/029771/06)
JSE share code: ENX ISIN: ZAE000222253 - General Segment
("enX" or "the Group" or "the Company")
SUMMARISED GROUP FINANCIAL RESULTS
for the year ended 31 August 2026
- Net cash inflow before financing activities: R253 million (2025: R241 million)
- Loss before tax from continuing operations: R12 million (2025: restated R1 million loss)
- Headline loss per share from continuing operations: 12.3c per share (2025: restated loss of 9.7c per share)
- Net asset value per share: 287c per share (31 August 2025: restated 512c per share)
Restated#
% For the year ended For the year ended
change 31 August 2026 31 August 2025
Total operations
Basic loss per share (cents) 67 (34.2) (105.0)
Diluted loss per share (cents) 67 (34.2) (105.0)
Headline (loss)/earnings per share (cents) - (9.9) 53.2
Net asset value per share** (44) 287 512
Net tangible asset value per share (44) 287 512
Continuing operations
Basic loss per share (cents) (27) (12.3) (9.7)
Diluted loss per share (cents) (27) (12.3) (9.7)
Headline loss per share (cents) (27) (12.3) (9.7)
Discontinued operations
Basic loss per share (cents) 77 (21.9) (95.3)
Diluted loss per share (cents) 77 (21.9) (95.3)
Headline earnings per share (cents) (96) 2.4 62.9
** Equity attributable to equity holders of the parent/Number of ordinary shares in issue net of treasury shares.
# The comparative results have been re-presented in accordance with IFRS 5 to reflect the classification of the New Way Power Sale Business
and enX Ventures Letting Enterprise as discontinued operations, resulting in a reallocation between continuing and discontinued operations.
The comparatives have also been restated to recognise deferred taxation of approximately R22 million relating to the Group's investment in WAI,
in accordance with IAS 12. This adjustment reduced prior-year earnings and net assets by approximately 12.1 cents per share. Further details are
provided in the 2026 Financial Statements.
The 2026 financial year represents a further significant step in enX's strategy of realising value from its portfolio and returning capital to
its shareholders.
During the year, the Group completed the disposal of its Chemicals business and returned a further 192 cents per enX ordinary share to shareholders.
In addition, the Group entered into agreements to dispose of the New Way Power Sale Business and enX Ventures Letting Enterprise. These businesses
were classified as a disposal group held for sale and presented as discontinued operations with effect from 1 June 2026, in accordance with IFRS 5.
The transaction was subsequently completed on 2 November 2026, representing another significant milestone in the Group's strategy to realise value
from its remaining operations and return capital to shareholders.
Following these developments, the Group's continuing operations principally comprise Power O2, a distributor of industrial engines, the remaining
net assets of New Way Power Proprietary Limited and the Service Centre. The comparative financial information for the year ended 31 August 2025 has
accordingly been re-presented to reflect the revised composition of continuing operations.
Revenue from continuing operations amounted to R105 million (2025: R143 million), reflecting the trading activities of Power O2 and the impact of the
re-presentation of revenue between continuing and discontinued operations.
The loss before taxation from continuing operations increased to R12 million (2025: R1 million loss), primarily reflecting lower net interest income
following significant distributions to shareholders and reduced management fee recoveries as the Group's operations contracted.
These effects were partly offset by lower staff and operating costs and the non-recurrence of the R15 million CapLeverage shareholder indemnity payment
recognised in the prior year. The Group also incurred additional once-off legal and other costs during the current year.
The headline loss attributable to ordinary shareholders from continuing operations was R22 million (2025: R18 million), resulting in headline loss per
share of 12.3c (2025: 9.7c per share).
The Group's net asset value decreased to 287c per share (2025: restated 512c per share), primarily reflecting the substantial capital returned to
shareholders during the year, together with the impact of the loss incurred, including disposal-related adjustments and transaction costs.
As at 31 August 2026, the Group had R6 million (31 August 2025: R3 million) of interest-bearing liabilities, comprising mainly IFRS 16 lease liabilities
relating to the New Way Power Sale business. These liabilities were included within liabilities associated with the disposal group classified as held
for sale. The related leases transferred to the purchaser upon completion of the disposal on 2 November 2026.
Cash and cash equivalents amounted to R197 million at 31 August 2026 (2025: R175 million), comprising R115 million held at the Service Centre and
R82 million held within New Way Power to meet working capital requirements.
Net cash inflow before financing activities amounted to R253 million (2025: R241 million) reflecting cash generated from operating activities and proceeds
from the disposal of Chemicals, partly offset by capital expenditure, including the acquisition of the New Way Power manufacturing facility.
Working capital movements were impacted by the release of R95 million previously recognised as a receivable in respect of cash collateral provided as
security for the acquisition of the New Way Power manufacturing facility, together with movements in receivables, inventories and payables across the Group.
Cash flows from investing activities included net cash inflows of approximately R212 million arising from the disposal of Chemicals and release of the
related escrow security.
The Group's independent auditor, KPMG Inc. has issued its audit opinion on the Group and Company financial statements for the year ended 31 August 2026.
The audit report can be accessed via the enX website https://www.enxgroup.co.za/annual-results/. The audit was conducted in accordance with International
Standards on Auditing. KPMG Inc. has issued an unmodified audit opinion, which includes one key audit matter related to the disposal of the Chemicals Segment.
This short-form announcement is the responsibility of the directors of the Company. This short-form announcement is only a summary of the 2026 Financial
Statements and further narrative published on the Company's website (https://www.enxgroup.co.za/annual-results) on 12 November 2026 and does not contain
complete or full details. Any investment decisions by investors and/or shareholders should include consideration of the 2026 Financial Statements.
This short-form announcement has not been audited by the Company's auditors.
The 2026 Financial Statements can be accessed directly using the following JSE cloudlink: https://senspdf.jse.co.za/documents/2026/jse/isse/enx/FY2026.pdf
The 2026 Financial Statements, including the audit opinion, can be accessed via the enX website: https://www.enxgroup.co.za/annual-results/
The 2026 Financial Statements are also available for inspection from 12 November 2026:
- at the Company's registered office (9th Floor, Katherine Towers, 1 Park Lane, Sandton); and
- copies of the 2026 Financial Statements may be requested during office hours at no charge by emailing info@enxgroup.co.za or the
Company's sponsor at info@valeo.co.za
By order of the Board
K Mokhobo R Lumb J Dawson
Chairman Chief Executive Officer Chief Financial Officer
12 November 2026
DIRECTORS Registered office: 9th Floor, Katherine Towers, 1 Park Lane, Sandton
Executive directors: R Lumb (Chief Executive Officer), Postal address: PostNet Suite X86, Private Bag X7, Aston Manor, 1630
J Dawson (Chief Financial Officer) Sponsor: Valeo Capital Proprietary Limited
Non-executive directors: K Mokhobo1 (Chairman), Company secretary: Acorim Proprietary Limited, represented by N Dube
K Matthews1, N Simamane1 Transfer secretaries: Computershare Investor Services Proprietary Limited
1Independent
Date: 12/11/2026 12:10:00
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