SHARED VALUE CREATION

We draw on all our resources to create shared value and opportunity across the African continent.

REPORT OF THE CHIEF FINANCIAL OFFICER

Grindrod’s 2022 financial year was one where new operational records were set, and solid financial performance was reported. The backdrop of challenges experienced in the year was met with the resilience of our teams and their customer-solutions-seeking mindset.

Grindrod CFO



Grindrod made good strides towards the non-core business exit strategy with the disposal of Grindrod Bank and certain significant private equity investments within the larger portfolio.

Grindrod's core business delivered good results for the year ended 31 December 2022, with headline earnings of R1.1 billion, up 37% on the prior year.  In addition, Grindrod reported cash generated from operations of R1.7 billion in 2022, up 62% on the prior year.

FIVE-YEAR REVIEW

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Headline earnings/(loss) (Rm)

Total equity and assets (Rm)

OPERATIONAL REVIEWS

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Revenue
38.8%
R24 360 million
(2021: R17 549 million)
Trading profit
25.8%
R1 917 million
(2021: R1 524 million)

PORT AND TERMINALS

The Port and Terminals division manages investments with a capital-intensive barrier to entry, which provide the backbone for offering integrated logistics solutions along key trade corridors, in partnership with the Logistics division.

Our terminal facilities are strategically positioned in Maputo, Richards Bay, Durban, Cape Town and Walvis Bay, providing an efficient service to importers and exporters. State-of-the-art supply chain management software enables real-time views of cargo status, stockpile position and performance. Dashboards track the cargo, assisting our customers in managing their shipments moving through the ports.

LOGISTICS

Logistics provides tailored logistics solutions across the supply chain for the efficient, end-to-end delivery of diversified cargo.

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Exceeding customer expectations

Our greatest asset is our people, and their can-do attitude motivates them to take on any challenge, exceed expectations and overcome barriers. Together, we are a united, agile, enthusiastic force – committed to providing our customers with innovative, efficient and cost-effective logistics solutions.

NON-CORE BUSINESSES

The primary non-core business are:

  • Marine Fuels
  • Private Equity and Property portfolio investments

Key focus areas 2023:

  • Capital allocations
  • Return on Equity and ROIC
  • Managing realisation of assets
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