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Afrimat Limited

Afrimat Limited

JJSE:AFT
3,200.00
ZAC
-200.00
(-5.88%)
914.14BMarket Cap
Afrimat Limited
JSE:AFT
(Johannesburg Stock Exchange)

Recent

price

3,200.00

P/E

ratio

- -

div

yld

- -

ROIC.AI

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
ZAR
6.16
7.25
9.36
13.33
14.02
13.85
15.72
17.47
21.7
24.41
27.28
33.96
33.92
40.49
54.83
65.79
- -
Revenue per Share
0.55
0.66
0.72
1.08
1.39
1.56
1.96
1.8
2.2
3.42
5.72
5.61
4.57
5.2
0.63
0.8
- -
Basic EPS, GAAP
0.61
0.54
0.61
0.86
0.7
1.33
2.31
0.6
2.32
3.86
4.26
0.96
1.22
3.61
-2.33
- -
- -
Free Cash Flow per Basic Share
0.16
0.17
0.21
0.31
0.41
0.54
0.62
0.71
0.63
1.02
1.19
1.56
1.85
1.53
1.7
0.42
- -
Dividend per Share
4.2
4.66
5.3
5.79
6.56
7.2
8.81
8.93
10.3
12.46
17.61
21.7
25.91
30.04
28.62
28.99
28.62
Book Value per Share
3.4
3.96
4.31
4.8
5.58
6.24
7.4
7.14
8.67
10.9
16.08
20.16
24.19
28.48
26.93
27.39
26.93
Tangible Book Value per Share
139
137
143
143
143
142
142
136
137
135
135
138
145
150
152
152
152
Basic Weighted Avg Shares
854
996
1,338
1,901
1,999
1,970
2,228
2,381
2,966
3,304
3,694
4,680
4,908
6,083
8,318
10,009
- -
Sales/Revenue/Turnover
12.83
12.54
11.62
12.15
13.72
16.28
18.21
14.75
15.94
17.81
24.24
21.93
18.43
19.27
4.43
5.12
- -
Operating Margin (%)
46
46
58
97
77
82
101
124
146
177
209
297
361
369
615
678
- -
Depreciation Expense
77
90
103
155
198
222
278
246
301
463
774
773
661
782
96
122
- -
Net Income, GAAP
29.34
30.01
28.14
26.29
26.72
28.86
30.53
24.24
27.83
18.86
25.48
27.3
28.82
29.16
62.42
46.27
- -
Effective Tax Rate (%)
8.98
9.06
7.7
8.13
9.91
11.28
12.47
10.32
10.16
14
20.95
16.51
13.47
12.85
1.15
1.22
- -
Profit Margin (%)
146
189
158
119
114
163
-5
60
215
310
577
489
511
742
-1,235
-214
-1,235
Working Capital
52
45
59
95
57
47
95
272
236
139
301
149
175
210
194
936
194
LT Debt
606
672
762
838
949
1,025
1,207
1,229
1,410
1,689
2,431
3,007
3,848
4,563
4,388
4,474
4,388
Total Equity
11.02
12.16
12.47
16.94
18.72
19.73
19.79
15.33
18.19
24.63
29.04
22.65
17.31
17.38
3.1
4.14
- -
Return on Invested Capital (%)
12.12
12.84
13.1
16.39
19.22
20.25
21.29
16.77
18.5
25.06
29.5
22.73
17.54
17.52
2.65
3.68
- -
Return on Capital (%)
13.16
14.21
14.45
19.54
22.5
22.72
25.05
20.31
23.03
30.03
37.71
28.51
19.36
18.67
2.15
2.78
- -
Return on Common Equity (%)

Capital Structure

ZAR

•

in mil. unless spec.
Feb'24
Aug'25
Feb'25
ST Debt
347
2,018
1,743
LT Borrowings
157
- -
51
LT Finance Leases
53
- -
143
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
151
152
152
Market Capitalization
9,470
10,013
9,141

Working Capital

ZAR

•

in mil. unless spec.
Feb'24
Aug'25
Feb'25
Total Current Assets
2,054
2,985
2,584
Cash, Cash Equivalents & STI
655
524
301
Accounts Receivable, Net
698
1,090
966
Inventories
614
1,205
1,101
Total Current Liabilities
1,312
4,262
3,819
Payables & Accruals
- -
- -
- -
ST Debt
347
2,018
1,743
Deferred Revenue
- -
- -
- -

Growth Rates

ZAR

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
16.64%
13.67%
1.95%
Free Cash Flow
25.72%
-20.48%
-100.17%
Net Income, GAAP
10.02%
-11.35%
27.4%
Sales/Revenue/Turnover
18.03%
22.52%
20.33%
Total Cash Common Dividend
7.23%
-3.88%
-75.21%

Semi-annual Revenue

ZAR

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
6,083
2025
- -
- -
8,318
2026
- -
- -
10,009

Semi-annual Earnings Per Share

ZAR

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
5.2
2025
- -
- -
0.63
2026
- -
- -
0.8

Semi-annual Dividends Per Share

ZAR

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
1.53
2025
- -
- -
1.7
2026
- -
- -
0.42
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Business
Afrimat Limited operates as a mid-tier mining and materials company focused on open-pit mining and supplying construction materials, industrial minerals, bulk commodities, and future materials and metals primarily in southern Africa. The company produces aggregates including sand, gravel, and crushed stone; concrete-based products such as readymix concrete, bricks, blocks, pavers, cement, and fly ash; industrial minerals comprising limestone, dolomite, lime and lime products, and industrial sand; bulk commodities like iron ore, anthracite, and manganese; and future materials and metals including phosphate, vermiculite, rare earths, and green construction materials; it also provides services such as IT, consulting, external logistics, mining services, mobile crushing, screening, drilling, blasting, loading, and hauling. Founded in 1963 through predecessor companies Prima and Lancaster, Afrimat is headquartered in Bellville, South Africa, with operations spanning South Africa, Botswana, and Mozambique, and exports to international markets. Recent major changes include the 2024 acquisition of Lafarge South Africa, encompassing quarries, readymix concrete plants, fly-ash operations, and an integrated cement operation, which has been fully integrated by August 2025 with investments in neglected assets, kiln repairs, and system migrations leading to revenue growth of 29.9% to R5.3 billion and operating profit up 29.8% to R379.8 million for the six months ended 31 August 2025; turnaround efforts at Nkomati Anthracite Mine with full EIA approval and export resumption via Mozambique; progress in Future Materials and Metals through test work and partnerships for battery and magnet market applications at Glenover without significant additional capital; and divestitures of non-core assets per Competition Commission conditions and strategic sales to streamline operations.