Earnings release
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Libstar Holdings Limited (Incorporated in the Republic of South Africa) (Registration number 2014/032444/06) (JSE share code: LBR) (ISIN: ZAE000250239) ("Libstar" or the “Group”) VOLUNTARY TRADING UPDATE FOR THE FINANCIAL YEAR TO DATE AND INVESTOR PRE-CLOSE CONFERENCE CALL INTRODUCTION This voluntary pre-close trading update pertains to the 21-week period ended 30 May 2025 compared to the prior corresponding 20-week period ended 24 May 2024. The results of the Group’s Chet Chemicals division, disposed effective 31 December 2024, have been excluded from the prior period to provide a like-for-like comparison of the Group’s continuing operations. MARKET OVERVIEW The Total Defined Market for Libstar’s products delivered low single-digit value growth in the measured Retail & Wholesale channel since the start of 2025. Consumers, therefore, remain under pressure despite moderating inflation and lower interest rates. Import and export supply chain volatility persisted, evidenced by extended import lead times and intermittent delays in securing export container availability. Against this backdrop, Libstar’s category and channel revenue growth exceeded market growth during the five-month period ended 30 May 2025. Volume sales increased in both the Ambient Products and Per ishable Products super - categories. Group Retail & Wholesale, Food Service and Export channel volumes increased, reflecting positive trading momentum when compared to the results for the year ended 31 December 2024. TRADING UPDATE The Group’s revenue increased by 10.1%, driven by volume growth of 5.2% and price/mix changes of 4.9%. Ambient Products Ambient Products category revenue increased by 11.5%, supported by volume growth of 5.4% and price/mix changes of 6.1%. The wet condiments sub-category continued its strong momentum in Retail & Contract manufacturing channel sales, driven by extended own-branded ranges, continued growth of private label offerings , increased contract manufact uring demand and the sustained improvement of its baking-aids ranges, operations and distribution reach. In the dry condiments sub -category, the Group’s Cape Herb & Spice brand continued its growth momentum supported by the roll-out of existing and new international listings.
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The b olstered Food Service channel support structure implemented in 2024 continued to underpin growth of the Group’s meal ingredients and other Ambient Products sub-categories. Meal ingredients, snacks and spreads sub-category revenue in the Retail channel benefited from the improved operational performance of the Group’s snack operations and the launch of new spreads product ranges. This was partly offset by logistical disruptions and operational delays affecting imported meal-ingredient lines. The baking sub-category benefited from higher Food Service channel volumes and resilient Retail channel demand. Perishable Products Perishable Products category revenue increased by 8.9%, with selling price inflation and mix changes contributing 4.0% to sales growth. Sales volumes increased by 4.9% driven by the dairy and value-added meat sub-categories growth in the Retail and Food Service channels. Growth of the dairy sub-category was supported by a more balanced supply-demand dynamic following industry-wide production and pricing pressures experienced in 2024 . This is expected to contribute to lower and more sustainable working capital investments in the sub- category at the close of the interim reporting period. Demand for coated chicken products in the value -added meat sub -category continued to increase. This resulted in double-digit revenue growth, but has further constrained production capacity. Beef volume sales were lower than the prior corresponding period. Despite the late- May foot-and-mouth disease outbreak disrupting beef supply chains nationally, the Group’s rapid contingency response ensured continued supply to its customers . Beef sales are expected to be weaker in June and July until supply chains normalise. OUTLOOK The Group expects continued positive trading momentum for the rest of the year as it delivers sustainable positive outcomes from the growth initiatives implemented in its two super - categories and four channels. INVESTOR PRE-CLOSE CONFERENCE CALL Shareholders are advised that Libstar will be hosting a pre-close investor call at 17:00 (CAT) today, 19 June 2025 to provide investors with an update for the year to date prior to entering a closed period on 1 July 2025. Participants should register for the online meeting using the following link: https://us02web.zoom.us/j/81729753670?pwd=ND6sF9IbjKE1JPLrNxd6sehhW3B7NW.1 OTHER INFORMATION The financial information on which this pre -close trading update is based, has not been reviewed nor reported on by the Group’s external auditors. Libstar expects to publish its interim financial results on or about 16 September 2025. 19 June 2025
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Sponsor The Standard Bank of South Africa Limited