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    Investment managers
Zeder Investments Limited

Zeder Investments Limited

JJSE:ZED
106.00
ZAC
0.00
(0.00%)
241.73BMarket Cap
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
6.17
7.42
6.25
6.29
4.94
4.77
4.41
- -
0.03
- -
- -
- -
- -
- -
Basic EPS, GAAP
0.31
0.21
0.52
-0.49
0.15
0.05
0.33
1.53
0.52
-0.12
0.01
-0.1
-0.27
- -
Free Cash Flow per Basic Share
0.08
-0.38
-0.22
-0.14
- -
-0.25
-0.03
0.02
0.08
-0.02
0.01
0.3
0.05
- -
Dividend per Share
0.04
0.04
0.05
0.08
0.11
0.11
0.11
2.42
0.2
1.02
0.15
0.61
- -
- -
Book Value per Share
3.69
4.94
5.42
4.81
4.86
4.76
4.69
4.33
4.66
2.6
2.48
1.77
1.5
1.77
Tangible Book Value per Share
3.31
4.52
4.99
4.43
4.5
4.36
4.21
4.33
4.66
2.6
2.48
1.77
1.5
1.77
Basic Weighted Avg Shares
980
1,172
1,490
1,622
1,717
1,702
1,702
1,619
1,538
1,539
1,540
1,540
1,540
1,540
Sales/Revenue/Turnover
6,044
8,692
9,318
10,209
8,485
8,115
7,498
1
46
2
7
- -
- -
- -
Operating Margin (%)
5.86
2.53
3.05
-11.06
2.62
6.95
7.28
9,800
-65.22
-550
-828.57
- -
- -
- -
Depreciation Expense
94
132
167
179
204
219
295
- -
- -
- -
- -
- -
- -
- -
Net Income, GAAP
306
242
782
-796
254
89
561
2,475
801
-187
12
-154
-421
- -
Effective Tax Rate (%)
22.78
21.41
13.42
- -
48.51
21.28
- -
2.45
150
39.47
- -
16.22
- -
- -
Profit Margin (%)
5.06
2.78
8.39
-7.8
2.99
1.1
7.48
247,500
1,741.3
-9,350
171.43
- -
- -
- -
Working Capital
1,378
1,033
985
184
567
1,020
-361
940
3,909
532
754
574
1,623
574
LT Debt
739
970
1,166
1,015
1,939
1,880
1,278
- -
- -
- -
- -
- -
- -
- -
Total Equity
4,165
7,741
8,692
8,698
8,596
8,412
8,318
6,662
7,168
4,009
3,824
2,727
2,316
2,727
Return on Invested Capital (%)
5.54
1.95
4.33
- -
0.48
2.9
- -
7.76
0.23
- -
- -
0.33
- -
- -
Return on Capital (%)
6.96
4.09
8.94
- -
3.77
2.65
- -
26.38
11.58
-3.35
- -
-4.7
- -
- -
Return on Common Equity (%)
8.87
4.5
10.17
-9.62
3.07
1.09
6.98
33.82
11.58
-3.35
0.31
-4.7
-16.7
- -

Capital Structure

ZAR

•

in mil. unless spec.
Feb'24
Aug'25
Feb'25
ST Debt
- -
- -
- -
LT Borrowings
- -
- -
- -
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
1,540
1,540
1,540
Market Capitalization
2,741
2,972
2,417

Working Capital

ZAR

•

in mil. unless spec.
Feb'24
Aug'25
Feb'25
Total Current Assets
807
1,060
626
Cash, Cash Equivalents & STI
694
135
160
Accounts Receivable, Net
- -
- -
1
Inventories
- -
- -
- -
Total Current Liabilities
53
44
52
Payables & Accruals
- -
- -
- -
ST Debt
- -
- -
- -
Deferred Revenue
- -
- -
- -

Growth Rates

ZAR

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
-10.91%
-16.97%
-15.07%
Free Cash Flow
-1,948.12%
500.76%
-84.8%
Net Income, GAAP
-103.45%
-301.47%
173.38%
Sales/Revenue/Turnover
- -
- -
- -
Total Cash Common Dividend
- -
- -
- -

Semi-annual Revenue

ZAR

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
7
2025
- -
- -
- -
2026
- -
- -
- -

Semi-annual Earnings Per Share

ZAR

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
0.01
2025
- -
- -
-0.1
2026
- -
- -
-0.27

Semi-annual Dividends Per Share

ZAR

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
0.15
2025
- -
- -
0.61
2026
- -
- -
- -

Company Description

Company Profile APIChatGPT
CEO
Andries Mellet
Full Time Employees
25
Sector
Finance
Industry
Investment managers
Address
1st Floor Stellenbosch WC South Africa 7600
IPO Date
Dec 14, 2006
Website
zeder.co.za
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Business
Zeder Investments Ltd. (ZED.JO) is a South Africa-based investment holding company listed on the Johannesburg Stock Exchange that invests in the broad agribusiness and related industries with a focus on agricultural seeds, chemicals, farming, processing, distribution, and food production across the supply chain; it holds strategic controlling stakes in companies spanning proprietary hybrid seed genetics, crop protection chemicals, and specialized agri-inputs primarily in South Africa, emerging markets, the Middle East, Eastern Europe, and neighboring African countries. Founded in 2006 as the private equity arm of PSG Group Ltd. and headquartered in Stellenbosch, South Africa, Zeder identifies, acquires, and manages a portfolio of agricultural, food, and beverage businesses, emphasizing sustainable growth sectors, proven management, high barriers to entry via unique brands, scalable models, and co-investments with management; its core investments as of February 2025 include a 97.2% stake in Zaad Holdings, which develops, imports, produces, and distributes seeds and agrochemicals through subsidiaries like Agricol (sunflower, soybean, maize, wheat, canola seeds), FarmAg (crop protection chemicals), May Seeds (Turkey), Bakker Brothers (vegetable seed IP in the Netherlands), and EA Seeds (Eastern/Central Africa), alongside an 87.1% interest in Pome Investments following the disposal of most Capespan Agri assets. Recent major changes include the November-December 2024 disposal by Capespan Agri of three pome farming units (Theewaterskloof, Applethwaite) and the Novo packhouse for R713m total consideration (R621m attributable to Zeder), triggering special dividends of R484m to Zeder Financial Services and R939m (61.0 cents per share) to Zeder shareholders; receipt of a final R30m earn-out from the 2022 Logistics Group sale; and a March 2025 agreement to sell Zaad's operations in Zimbabwe, Mozambique, and Zambia to ETG Inputs for R135m (subject to conditions, effective around July 2025), as part of an ongoing strategic portfolio review to realize value and optimize capital allocation amid market challenges like volatile weather and global dynamics. Zeder's sum-of-the-parts portfolio value stood at R2.73bn (R1.77 per share) as at 28 February 2025, down from R3.82bn prior year mainly due to dividends and fair value adjustments, while having returned over R8.5bn to shareholders via special dividends and the prior KAL Group unbundling since 2020.