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Review pending. Every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (9 October 2026). Independent review has not yet been carried out, and these pages are not indexed.AI-assisted source check done; independent review pending; not indexed. About the review

Afrimat

AFT · A2X Markets · Incorporated in South Africa · Consolidated statements

On this page
Company details
Legal name
Afrimat Limited
Incorporated in
South Africa
Listing
AFT on the A2X Markets, active · ISIN ZAE000086302 (observed 2026-10-08)
Sector
Not classified (our classification from the stated principal activity)
Financial year ends
28 February

Overview

Year ended 28 February 2026 · annual report, signed / final · source

  • Revenue

    ZAR 10.0 billion

    10,009,050 ZAR thousands · p90

    +20.3% vs 2025

  • Operating profit / (loss)

    ZAR 524 million

    523,692 ZAR thousands · p90

    +9.6% vs 2025

  • Profit / (loss) for the year

    ZAR 157 million

    157,071 ZAR thousands · p90

    +38.4% vs 2025

  • Total assets

    ZAR 9.90 billion

    9,900,953 ZAR thousands · p91

    +7.6% vs 2025

  • Total equity

    ZAR 4.47 billion

    4,473,975 ZAR thousands · p91

    +2.0% vs 2025

  • Cash from operations

    ZAR 382 million

    381,719 ZAR thousands · p93

    +59.2% vs 2025

Large amounts are rounded for reading (ZAR million / billion / trillion); exact figures as printed are under each amount and in the tables. No currency conversion.

Financial statements

Exact figures as printed. Each column comes from one filing; labels are as printed in the newest filing. Amounts in ZAR thousands unless the row says otherwise; brackets are negative.

† from a supplementary filing for the same year · ‡ signed audited statements preferred over a disputed figure · “–” is a printed dash, explained below the table

Column sources

  • FY to 28 Feb 2026 — annual report, signed / final; reported for the year · source
  • FY to 28 Feb 2025 — annual report, signed / final; comparative in the FY to 28 Feb 2026 filing · source

Income statement

Income statement, ZAR thousands. Columns: FY to 28 Feb 2026 — annual report (signed / final), as reported for the year; FY to 28 Feb 2025 — annual report (signed / final), comparative reported in the annual report for 2026.
Line (as printed) FY to 28 Feb 2026Annual reportreported for the yearFY to 28 Feb 2025Annual reportcomparative in FY to 28 Feb 2026 filing
Revenue 10,009,050 8,317,766
Group companies interest revenue1 –2 –2
Cost of sales (8,257,794) (6,818,123)
Gross profit 1,751,256 1,499,643
Operating expenses (1,341,386) (1,203,374)
Other income 64,803 46,718
Other net gains3 51,045 89,022
Profit/(loss) on disposal of subsidiaries4 10,548 36,541
allowance (12,574) 9,185
Operating profit/(loss) 523,692 477,735
Finance income 86,113 45,595
Finance costs (317,487) (221,251)
Profit/(loss) before tax 292,318 302,079
Income tax expense (135,247) (188,569)
Profit/(loss) for the year 157,071 113,510
Other comprehensive loss for the year, net of tax (4,013) (50)
Total comprehensive income/(loss) for the year 153,058 113,460
Non-controlling interests5 35,329 17,948
  1. Printed “–”, read as nil: subtotal_arithmetic: is.gross_profit.
Notes and alternative reported figures (4)
  1. “Group companies interest revenue” is an issuer-specific line, not mapped to a shared definition: Note 3: interest revenue from group companies (Company columns; nil for the Group).
  2. “Other net gains” is an issuer-specific line, not mapped to a shared definition: Note 4.2.
  3. “Profit/(loss) on disposal of subsidiaries” is an issuer-specific line, not mapped to a shared definition: Note 12.3.
  4. “Non-controlling interests” is an issuer-specific line, not mapped to a shared definition: Note 8.4: share of profit for the year attributable to non-controlling interests.

Balance sheet

Balance sheet, ZAR thousands. Columns: FY to 28 Feb 2026 — annual report (signed / final), as reported for the year; FY to 28 Feb 2025 — annual report (signed / final), comparative reported in the annual report for 2026.
Line (as printed) FY to 28 Feb 2026Annual reportreported for the yearFY to 28 Feb 2025Annual reportcomparative in FY to 28 Feb 2026 filing
Property, plant and equipment 5,310,085 5,665,172
Intangible assets 244,656 256,029
Loans to subsidiaries1 –2 –2
Investments in subsidiaries3 –2 –2
Other financial assets4 195,576 162,965
Deferred tax 327,206 247,722
Inventories5 200,839 210,141
Total non-current assets 6,278,362 6,542,029
Inventories 1,603,460 1,101,387
Current tax receivable 15,785 12,348
Trade and other receivables 1,464,712 1,169,291
Cash and cash equivalents 451,142 301,329
Loans to subsidiaries1 –6 –6
Total current assets* 3,535,099 2,584,355
Disposal group assets held for sale7 87,492 76,910
Total assets 9,900,953 9,203,294
Stated capital 858,555 857,851
Treasury shares8 (130,128) (123,713)
Net issued stated capital9 728,427 734,138
Other reserves (84,143) (77,000)
Retained earnings 3,765,738 3,698,942
Attributable to equity holders of the parent 4,410,022 4,356,080
Non-controlling interests 63,953 32,180
Total equity 4,473,975 4,388,260
Other financial liabilities10 59,534 86,875
Borrowings 935,833 193,852
Other liability11 27,056 40,726
Provisions 300,406 279,746
Deferred tax 354,658 394,382
Total non-current liabilities 1,677,487 995,581
Loans from subsidiaries12 –13 –13
Other financial liabilities10 40,861 421,320
Borrowings 1,418,509 1,665,415
Current tax payable 29,612 8,262
Trade and other payables 1,997,073 1,636,569
Bank overdraft 240,796 77,828
Total current liabilities* 3,726,851 3,809,394
Disposal group liabilities held for sale14 22,640 10,059
Total liabilities 5,426,978 4,815,034
Total equity and liabilities 9,900,953 9,203,294
  1. Printed “–”, read as nil: subtotal_arithmetic: bs.non_current_assets.
  2. Printed “–”, read as nil: subtotal_arithmetic: bs.current_assets.
  3. Printed “–”, read as nil: subtotal_arithmetic: bs.current_liabilities.
Notes and alternative reported figures (11)
  1. “Loans to subsidiaries” is an issuer-specific line, not mapped to a shared definition: Note 13 (Company columns; nil for the Group).
  2. “Investments in subsidiaries” is an issuer-specific line, not mapped to a shared definition: Note 13 (Company columns; nil for the Group).
  3. “Other financial assets” is an issuer-specific line, not mapped to a shared definition: Notes 7.1 – 7.3.1 (non-current).
  4. “Inventories” is an issuer-specific line, not mapped to a shared definition: Note 6.4: inventories presented as non-current assets.
  5. “Disposal group assets held for sale” is an issuer-specific line, not mapped to a shared definition: Note 12.4.
  6. “Treasury shares” is an issuer-specific line, not mapped to a shared definition: Note 8.2.
  7. “Net issued stated capital” is an issuer-specific line, not mapped to a shared definition: Stated capital less treasury shares.
  8. “Other financial liabilities” is an issuer-specific line, not mapped to a shared definition: Note 7.3.5.
  9. “Other liability” is an issuer-specific line, not mapped to a shared definition: Note 19.2 (non-current).
  10. “Loans from subsidiaries” is an issuer-specific line, not mapped to a shared definition: Note 13 (Company columns; nil for the Group).
  11. “Disposal group liabilities held for sale” is an issuer-specific line, not mapped to a shared definition: Note 12.4.

Cash flow

Cash flow, ZAR thousands. Columns: FY to 28 Feb 2026 — annual report (signed / final), as reported for the year; FY to 28 Feb 2025 — annual report (signed / final), comparative reported in the annual report for 2026.
Line (as printed) FY to 28 Feb 2026Annual reportreported for the yearFY to 28 Feb 2025Annual reportcomparative in FY to 28 Feb 2026 filing
Cash generated from operations 831,353 571,591
Finance income received 86,113 45,595
Dividends received1 3 1,551
Finance costs paid2 (298,152) (197,214)
Tax paid (237,598) (181,769)
Net cash inflow from operating activities 381,719 239,754
Acquisition of property, plant and equipment (381,127) (593,215)
equipment 116,996 55,282
Acquisition of businesses3 –4 (380,808)
Acquisition of assets5 –4 (148,845)
Proceeds on disposal of businesses6 16,652 44,280
Advances of loans to subsidiaries7 –4 –4
Proceeds of loans to subsidiaries8 –4 –4
Purchase of other financial assets9 (40,963) (74,420)
Repayments from other financial assets10 34,137 83,467
Net cash outflow from investing activities (254,305) (1,014,259)
Repurchase of Afrimat shares11 (15,837) (23,021)
Proceeds from borrowings 2,107,050 1,100,000
Repayment of borrowings (1,777,148) (387,598)
Capital elements of lease payments (26,926) (24,207)
Withdrawn funds in overdraft12 924,870 1,083,813
Repayments of bank overdraft13 (840,814) (981,409)
Repayments of other financial liabilities14 (447,752) (15,985)
Repayments of loans from subsidiaries15 –16 –16
Proceeds of loans from subsidiaries17 –16 –16
Dividends paid (64,012) (258,265)
activities (140,569) 493,328
bank overdrafts (13,155) (281,177)
at the beginning of the year 223,501 504,678
overdrafts at the end of the year 210,346 223,501
  1. Printed “–”, read as nil: subtotal_arithmetic: cf.cash_from_investing.
  2. Printed “–”, read as nil: subtotal_arithmetic: cf.cash_from_financing.
Notes and alternative reported figures (15)
  1. “Dividends received” is an issuer-specific line, not mapped to a shared definition: Note 9.8; operating activities.
  2. “Finance costs paid”: mapping to a shared definition is uncertain. One line for finance costs paid; whether it includes lease interest is not stated on the face of the statement.
  3. “Acquisition of businesses” is an issuer-specific line, not mapped to a shared definition: Note 12.1; investing activities.
  4. “Acquisition of assets” is an issuer-specific line, not mapped to a shared definition: Note 12.2; investing activities.
  5. “Proceeds on disposal of businesses” is an issuer-specific line, not mapped to a shared definition: Note 9.9; investing activities.
  6. “Advances of loans to subsidiaries” is an issuer-specific line, not mapped to a shared definition: Note 13; investing activities (Company columns; nil for the Group).
  7. “Proceeds of loans to subsidiaries” is an issuer-specific line, not mapped to a shared definition: Note 13; investing activities (Company columns; nil for the Group).
  8. “Purchase of other financial assets” is an issuer-specific line, not mapped to a shared definition: Investing activities.
  9. “Repayments from other financial assets” is an issuer-specific line, not mapped to a shared definition: Investing activities.
  10. “Repurchase of Afrimat shares” is an issuer-specific line, not mapped to a shared definition: Note 8.2; financing activities.
  11. “Withdrawn funds in overdraft” is an issuer-specific line, not mapped to a shared definition: Note 7.3.4; financing activities.
  12. “Repayments of bank overdraft” is an issuer-specific line, not mapped to a shared definition: Note 7.3.4; financing activities.
  13. “Repayments of other financial liabilities” is an issuer-specific line, not mapped to a shared definition: Financing activities.
  14. “Repayments of loans from subsidiaries” is an issuer-specific line, not mapped to a shared definition: Note 13; financing activities (Company columns; nil for the Group).
  15. “Proceeds of loans from subsidiaries” is an issuer-specific line, not mapped to a shared definition: Note 13; financing activities (Company columns; nil for the Group).

Per share and shares

Per share and shares. Columns: FY to 28 Feb 2026 — annual report (signed / final), as reported for the year; FY to 28 Feb 2025 — annual report (signed / final), comparative reported in the annual report for 2026.
Line (as printed) FY to 28 Feb 2026Annual reportreported for the yearFY to 28 Feb 2025Annual reportcomparative in FY to 28 Feb 2026 filing
Earnings / (loss) per share (per share)3 0.8001 0.6302
Profit / (loss) attributable to shareholders (ZAR thousands)4 121,742 95,562
  1. Printed as 80,0 cents; value converted to ZAR at 100 cents = 1 ZAR.
  2. Printed as 63,0 cents; value converted to ZAR at 100 cents = 1 ZAR.
Notes and alternative reported figures (2)
  1. Earnings / (loss) per share: printed as “Earnings per ordinary share (cents)”.
  2. Profit / (loss) attributable to shareholders: printed as “Owners of the parent”.

Segments

Segment data not yet collected for this company in the pilot.

Dividends

Proposed or recommended, declared and paid are different events and are kept apart. A statement that no dividend was proposed does not mean none was paid.

Dividend events, the issuer's wording, and amounts as printed
Year endedEventWording as printedAmountUnitSource
28 Feb 2026 Dividends paid (cash flow statement) Dividends paid (64,012) ZAR thousands Annual report, p93
28 Feb 2025 Dividends paid (cash flow statement) Dividends paid (258,265) ZAR thousands Annual report, p93

Sources

Each filing used on this page, newest period first. Dates are the document's own; the date we retrieved a file is shown separately and is never a publication date.

  • Afrimat Integrated Annual Report 2026

    Year ended 28 February 2026 · Annual report · signed / final

    Audit: PricewaterhouseCoopers Inc., unmodified opinion · signed

    Auditor's sign-off: PricewaterhouseCoopers Inc., director D de Jager, registered auditor

    Final status: Independent auditor's report on the consolidated and separate financial statements signed for PricewaterhouseCoopers Inc. (director D de Jager, registered auditor), Stellenbosch, dated 20 May 2026 (PDF p87, page image; opinion on PDF p84). Annual financial statements approved by the board and signed electronically on its behalf by the CEO and CFO, Cape Town, 20 May 2026 (PDF p81, page image).

    Document date
    20 May 2026
    Auditor's report
    20 May 2026
    Board approval
    20 May 2026
    Retrieved by us
    8 Oct 2026 (not a publication date)
    Used for
    statement columns FY to 28 Feb 2026, FY to 28 Feb 2025
    Basis
    consolidated statements · ZAR thousands (printed “R'000”)
    • Current liabilities exceed current assets (Group 3 726 851 against 3 535 099); the statement refers to note 23 for the directors' going-concern assessment (p91).
    • The PDF prints two report pages per sheet; page numbers are PDF sheets. The statement of cash flows shares PDF p93 with the Company statement of changes in equity.
    • Earnings per share is printed in cents with a decimal comma (80,0; 2025: 63,0; diluted 79,3; 2025: 62,2; p90); stored in rand with the printed figure and unit kept.
    • The directory holds only the A2X secondary line for this issuer; its primary listing (JSE, share code AFT, ISIN ZAE000086302 as printed on PDF p154) is not in the directory.
    Technical details
    File
    167 pages, with a text layer
    SHA-256
    ed93e598a2c5e204d1f9f24e9d8baed5d40d653f7eb2b99de8293cddd7ada4c7
    Entity as printed
    Afrimat Limited (the Company) and its subsidiaries (together the Group)
    Issuer copy
    retrieved 2026-10-08T18:51:27Z

Data notes

No figure-level notes beyond those in the tables.

Review status: every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (9 October 2026). Independent review is pending for every figure; automated checks and the AI-assisted verification are not independent review.

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Figures shown on this page (CSV) — the same selected figures at their exact printed values, each with its source document, SHA-256, page, selection rule and reading. Independent review of these figures is pending.

South Africa country page · Company methodology and coverage