Burstone Group Limited

Burstone Group Limited

JJSE:BTN
985.00
ZAC
+7.00
(+0.72%)
715.59BMarket Cap
Nov 18Next Earn
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
2026 Y
TTM
Revenue per Share
1.63
2.15
2.29
2.52
2.54
2.46
2.31
1.82
1.82
1.81
2.12
2
1.95
- -
Basic EPS, GAAP
1.53
2.25
2.14
2.08
1.73
1.94
2.29
-0.41
1.29
0.24
0.29
-2.8
1.01
- -
Free Cash Flow per Basic Share
0.02
0.26
-0.03
0.4
-0.18
-0.22
-0.05
0.04
-0.37
-0.13
-0.2
-0.6
-0.26
- -
Dividend per Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Book Value per Share
14.21
15.1
15.85
16.94
17.29
17.83
18.19
16.65
16.96
16.17
15.53
11.95
12.06
12.06
Tangible Book Value per Share
14.21
15.1
15.85
16.94
17.29
17.83
18.19
16.65
16.96
16.17
14.54
11.4
11.68
11.68
Basic Weighted Avg Shares
332
393
520
701
723
735
745
805
805
805
802
795
794
790
Sales/Revenue/Turnover
542
844
1,190
1,768
1,836
1,805
1,720
1,464
1,466
1,458
1,703
1,592
1,545
- -
Operating Margin (%)
81.73
80.94
81.3
83.29
81.02
76.35
76.64
63.37
68.6
70.83
58.96
55.86
61.17
- -
Depreciation Expense
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
72
74
60
- -
Net Income, GAAP
507
885
1,113
1,459
1,248
1,426
1,706
-328
1,038
195
232
-2,224
800
- -
Effective Tax Rate (%)
- -
- -
0.18
0.42
0.78
1.05
0.53
14.73
- -
- -
0.63
- -
0.49
- -
Profit Margin (%)
93.42
104.81
93.55
82.53
67.97
78.99
99.17
-22.38
70.81
13.37
13.65
-139.69
51.78
- -
Working Capital
-60
-355
-797
-886
-527
-744
-2,586
-1,929
-1,798
-1,596
-2,216
-369
-1,137
-1,137
LT Debt
945
1,718
5,093
5,631
5,918
6,841
9,014
7,823
7,750
9,891
9,890
5,946
5,731
5,731
Total Equity
5,113
6,616
11,097
12,168
12,644
13,131
14,645
13,398
13,652
13,014
12,439
9,484
9,486
9,486
Return on Invested Capital (%)
- -
9.23
7.55
8.27
7.78
6.89
5.19
2.97
- -
- -
5.65
- -
6.41
- -
Return on Capital (%)
- -
13.8
10.89
11.16
9.66
10.07
9.06
0.94
- -
- -
5.17
- -
7.82
- -
Return on Common Equity (%)
11.19
15.09
12.57
12.54
10.06
11.06
12.28
-2.34
7.68
1.46
1.83
-20.29
8.43
- -

Capital Structure

ZAR

•

in mil. unless spec.
Mar'25
Sep'26
Mar'26
ST Debt
1,750
1,188
1,209
LT Borrowings
5,946
5,986
5,731
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
793
793
786
Market Capitalization
6,554
6,466
7,156

Working Capital

ZAR

•

in mil. unless spec.
Mar'25
Sep'26
Mar'26
Total Current Assets
2,105
749
1,191
Cash, Cash Equivalents & STI
208
308
323
Accounts Receivable, Net
30
15
23
Inventories
- -
- -
- -
Total Current Liabilities
2,474
1,752
2,328
Payables & Accruals
- -
- -
- -
ST Debt
1,750
1,188
1,209
Deferred Revenue
- -
- -
- -

Growth Rates

ZAR

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
-1.05%
-6.19%
0.03%
Free Cash Flow
-318.77%
-190.16%
-56.22%
Net Income, GAAP
-174.04%
-334.33%
-135.97%
Sales/Revenue/Turnover
3.8%
1.39%
-2.97%
Total Cash Common Dividend
- -
- -
- -

Semi-annual Revenue

ZAR

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
1,703
2025
- -
- -
1,592
2026
- -
- -
1,545

Semi-annual Earnings Per Share

ZAR

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
0.29
2025
- -
- -
-2.8
2026
- -
- -
1.01

Semi-annual Dividends Per Share

ZAR

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
- -
2025
- -
- -
- -
2026
- -
- -
- -

Company Description

CEO
Andrew Robert Wooler
Full Time Employees
50
Sector
Finance
Industry
Real estate investment trusts
Address
4 Sandown Valley Crescent Johannesburg GP South Africa 2196
IPO Date
Apr 14, 2011
Business
Burstone Group Limited is a fully integrated international real estate investment and asset management company that focuses on owning, developing, leasing, and managing a diversified portfolio of prime assets across South Africa, Europe and other select markets. The group operates as a vertically integrated real estate conglomerate, combining property acquisitions, development, asset management, leasing, and portfolio optimization to deliver value for investors and tenants alike. Burstone pursues a multi-asset strategy spanning retail, industrial and office segments, with a material emphasis on logistics and distribution properties in Europe and a broad South African portfolio of income-producing properties. The headquarters are located in Johannesburg, South Africa, with additional operational presence and investments in Europe and Australia, reflecting a globally scaled platform built to source, curate, and manage high-quality real estate across selected markets. Founded in 1974, Burstone leverages long-standing management expertise, strategic partnerships, and joint ventures to grow its pan-regional footprint and to optimize returns through active asset management, strategic partnerships, and selective expansion initiatives. The company’s portfolio comprises a mix of owned properties and co-investments, including substantial European logistics holdings under a Pan-European logistics platform, and a South African portfolio diversified across retail, office and industrial sectors. Burstone also emphasizes its asset management services as a core revenue stream, providing third-party management capabilities alongside its internal portfolio stewardship. The entity maintains a governance framework aligned with REIT principles, reporting on property valuations, portfolio performance, and earnings contributions from its diversified asset class mix. The group highlights ongoing strategic alliances, including European venture arrangements and joint investments designed to scale the breadth of its logistics and mixed-use platforms, while continuing to execute on its asset-light and asset-backed growth initiatives through acquisitions, capital recycling, and selective disposals to optimize capitalization and return profiles. Burstone communicates with investors through regular interim and annual results, investor presentations, and disclosures detailing portfolio composition, occupancy metrics, rent roll, leverage, and valuation movements across its global asset base.