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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

Sun International

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

On this page
Company details
Legal name
Sun International Limited
Incorporated in
South Africa
Listing
SUI on the A2X Markets, active · ISIN ZAE000097580 (observed 2026-10-08)
Sector
Not classified (our classification from the stated principal activity)
Financial year ends
31 December

Overview

Year ended 31 December 2025 · audited financial statements, signed / final · source

  • Revenue

    ZAR 13.0 billion

    12,979 ZAR millions · p18

    +3.2% vs 2024

  • Operating profit / (loss)

    ZAR 2.50 billion

    2,498 ZAR millions · p18

    −5.9% vs 2024

  • Profit / (loss) for the year

    ZAR 1.78 billion

    1,776 ZAR millions · p18

    −15.7% vs 2024

  • Total assets

    ZAR 13.6 billion

    13,642 ZAR millions · p20

    +1.0% vs 2024

  • Total equity

    ZAR 3.67 billion

    3,666 ZAR millions · p20

    +12.6% vs 2024

  • Cash from operations

    ZAR 3.12 billion

    3,119 ZAR millions · p21

    +0.0% vs 2024

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 millions 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

  • FY2025 — audited financial statements, signed / final; reported for the year · source
  • FY2024 — audited financial statements, signed / final; comparative in the FY2025 filing · source

Income statement

Income statement, ZAR millions. Columns: FY2025 — audited financial statements (signed / final), as reported for the year; FY2024 — audited financial statements (signed / final), comparative reported in the audited financial statements for 2025.
Line (as printed) FY2025Audited financial statementsreported for the yearFY2024Audited financial statementscomparative in FY2025 filing
Net gaming wins1 10,303 9,585
Revenue$2 2,674 2,984
Insurance receipts3 2 6
Income4 12,979 12,575
Consumables and services5 (1,687) (1,492)
Depreciation (740) (726)
Amortisation (67) (70)
Employee costs (2,581) (2,400)
Levies and VAT on casino income6 (2,383) (2,242)
LPM site owners commission**7 (442) (430)
Promotional and marketing costs8 (729) (631)
Property and equipment rentals9 (15) (149)
Property costs10 (927) (927)
Net impairment gain on financial assets 4 1
Other operational costs^ (914) (854)
Operating profit 2,498 2,655
Foreign exchange (loss)/gain (1) 9
Finance income 37 20
Finance expense (518) (613)
Change in estimated redemption value of put option11 348 (58)
Share of profit of investments accounted for using the equity method 1 –12
Profit before tax 2,365 2,013
Taxation (603) (550)
Profit for the year from continuing operations13 1,762 1,463
Profit for the year from discontinued operations14 14 644
Profit for the year 1,776 2,107
Remeasurements of post employment benefit obligations15 (5) –16
Tax on remeasurements of post employment benefit obligations17 1 –16
Fair value adjustment for listed shares18 (158) 27
Tax on fair value adjustment for listed shares19 43 (7)
Foreign currency translation reserve20 (18) (137)
Total comprehensive income for the year 1,639 1,990
Minorities21 160 249
  1. Printed “–”, read as nil: subtotal_arithmetic: is.profit_before_tax.
  2. Printed “–”, read as nil: subtotal_arithmetic: is.total_comprehensive_income.
Notes and alternative reported figures (19)
  1. “Net gaming wins” is an issuer-specific line, not mapped to a shared definition: Note 1: casino and LPM net gaming wins; a component of Income.
  2. “Revenue$” is an issuer-specific line, not mapped to a shared definition: Note 1: rooms, food and beverage and other revenue; a component of Income (marked '$': includes other revenue).
  3. “Insurance receipts” is an issuer-specific line, not mapped to a shared definition: Note 1: a component of Income.
  4. “Income”: mapping to a shared definition is uncertain. Printed 'Income' (12 979): the group's top line, net gaming wins plus revenue plus insurance receipts (note 1). The issuer's narrower 'Revenue' line is kept as a native concept.
  5. “Consumables and services” is an issuer-specific line, not mapped to a shared definition: Operating cost line.
  6. “Levies and VAT on casino income” is an issuer-specific line, not mapped to a shared definition: Operating cost line.
  7. “LPM site owners commission**” is an issuer-specific line, not mapped to a shared definition: Operating cost line (Limited Payout Machines, Sun Slots).
  8. “Promotional and marketing costs” is an issuer-specific line, not mapped to a shared definition: Operating cost line.
  9. “Property and equipment rentals” is an issuer-specific line, not mapped to a shared definition: Note 3: operating cost line.
  10. “Property costs” is an issuer-specific line, not mapped to a shared definition: Operating cost line.
  11. “Change in estimated redemption value of put option” is an issuer-specific line, not mapped to a shared definition: Note 17: below operating profit.
  12. “Profit for the year from continuing operations” is an issuer-specific line, not mapped to a shared definition: Subtotal after taxation.
  13. “Profit for the year from discontinued operations” is an issuer-specific line, not mapped to a shared definition: Notes 9 and 10.
  14. “Remeasurements of post employment benefit obligations” is an issuer-specific line, not mapped to a shared definition: OCI, not reclassified (note 18).
  15. “Tax on remeasurements of post employment benefit obligations” is an issuer-specific line, not mapped to a shared definition: OCI, not reclassified.
  16. “Fair value adjustment for listed shares” is an issuer-specific line, not mapped to a shared definition: OCI line printed under 'Items that may be reclassified' (note 16).
  17. “Tax on fair value adjustment for listed shares” is an issuer-specific line, not mapped to a shared definition: OCI (note 8).
  18. “Foreign currency translation reserve” is an issuer-specific line, not mapped to a shared definition: OCI, may be reclassified.
  19. “Minorities” is an issuer-specific line, not mapped to a shared definition: Printed 'Minorities' (p19).

Balance sheet

Balance sheet, ZAR millions. Columns: FY2025 — audited financial statements (signed / final), as reported for the year; FY2024 — audited financial statements (signed / final), comparative reported in the audited financial statements for 2025.
Line (as printed) FY2025Audited financial statementsreported for the yearFY2024Audited financial statementscomparative in FY2025 filing
Property, plant and equipment 9,492 9,121
Intangible assets 761 826
Investment property 91 147
Contract assets 83 81
Equity-accounted investment 33 32
Investment in listed shares 207 365
Deferred tax assets 1,146 1,114
Trade and other receivables1 152 114
Non-current assets (unlabelled subtotal) 11,965 11,800
Inventory 125 110
Trade and other receivables 955 1,075
Contract assets 21 22
Cash and cash equivalents2 336 364
Current tax receivable 7 30
Current assets (unlabelled subtotal) 1,444 1,601
Assets held for sale3 233 106
Total assets 13,642 13,507
Ordinary shareholders’ equity before put option reserve4 4,505 4,117
Put option reserve5 (1,286) (1,286)
Ordinary shareholders’ equity 3,219 2,831
Minorities' interests 447 425
Equity (unlabelled subtotal) 3,666 3,256
Deferred tax liabilities 475 417
Borrowings 4,873 3,521
Put option liabilities6 697 1,045
Contract liabilities7 663 615
Trade payables and accruals8 133 127
Non-current liabilities (unlabelled subtotal) 6,841 5,725
Borrowings 790 2,424
Trade payables and accruals 2,078 1,899
Contract liabilities7 152 152
Current tax payable 115 51
Current liabilities (unlabelled subtotal) 3,135 4,526
Total liabilities 9,976 10,251
Total equity and liabilities 13,642 13,507
Notes and alternative reported figures (8)
  1. “Trade and other receivables” is an issuer-specific line, not mapped to a shared definition: Note 19.
  2. “Cash and cash equivalents”: mapping to a shared definition is uncertain. Printed 'Cash and cash equivalents'; equals the cash-flow closing balance (p21).
  3. “Assets held for sale” is an issuer-specific line, not mapped to a shared definition: Note 22: printed below the current-assets subtotal.
  4. “Ordinary shareholders’ equity before put option reserve” is an issuer-specific line, not mapped to a shared definition: Component of ordinary shareholders' equity.
  5. “Put option reserve” is an issuer-specific line, not mapped to a shared definition: Component of ordinary shareholders' equity.
  6. “Put option liabilities” is an issuer-specific line, not mapped to a shared definition: Note 17: non-current.
  7. “Contract liabilities” is an issuer-specific line, not mapped to a shared definition: Note 25.
  8. “Trade payables and accruals” is an issuer-specific line, not mapped to a shared definition: Note 26.

Cash flow

Cash flow, ZAR millions. Columns: FY2025 — audited financial statements (signed / final), as reported for the year; FY2024 — audited financial statements (signed / final), comparative reported in the audited financial statements for 2025.
Line (as printed) FY2025Audited financial statementsreported for the yearFY2024Audited financial statementscomparative in FY2025 filing
Operating cash flow before movements in working capital1 3,558 3,656
Working capital changes2 93 2
Cash generated by operations 3,651 3,658
Tax paid (532) (540)
Net cash inflow from operating activities 3,119 3,118
Purchase of property, plant and equipment (1,238) (1,016)
Proceeds on disposal of property, plant and equipment and intangible assets3 23 36
Additions to investment property4 (8) (2)
Purchase of intangible assets (29) (43)
Investment income received5 13 6
Dreams S.A. first contingent consideration6 –7 206
Dreams S.A. second contingent consideration8 248 –7
Proceeds on disposal of loan and equity interest in TCN9 –7 196
Net cash outflow from investing activities (991) (617)
Share plan shares purchased10 (66) (32)
Shares repurchased and cancelled11 (100) (141)
Repayment of capital lease liabilities (151) (155)
Additional drawdown/(repayment) of borrowings12 47 (81)
Repayment of borrowings (300) (400)
Interest paid13 (460) (558)
Dividends paid14 (1,149) (1,092)
Net cash outflow from financing activities (2,179) (2,459)
Effects of exchange rate changes on cash and cash equivalents15 23 (61)
Net decrease in cash and cash equivalents (28) (19)
Cash and cash equivalents at beginning of the year 364 383
Cash and cash equivalents at end of the year 336 364
  1. Printed “–”, read as nil: subtotal_arithmetic: cf.cash_from_investing.
Notes and alternative reported figures (14)
  1. “Operating cash flow before movements in working capital” is an issuer-specific line, not mapped to a shared definition: Operating activities.
  2. “Working capital changes” is an issuer-specific line, not mapped to a shared definition: Operating activities.
  3. “Proceeds on disposal of property, plant and equipment and intangible assets”: mapping to a shared definition is uncertain. Printed as one line covering property, plant and equipment and intangible assets.
  4. “Additions to investment property” is an issuer-specific line, not mapped to a shared definition: Investing (note 13).
  5. “Investment income received” is an issuer-specific line, not mapped to a shared definition: Investing (note 5).
  6. “Dreams S.A. first contingent consideration” is an issuer-specific line, not mapped to a shared definition: Investing; 2025 printed '–'.
  7. “Dreams S.A. second contingent consideration” is an issuer-specific line, not mapped to a shared definition: Investing; 2024 printed '–'.
  8. “Proceeds on disposal of loan and equity interest in TCN” is an issuer-specific line, not mapped to a shared definition: Investing; 2025 printed '–'.
  9. “Share plan shares purchased” is an issuer-specific line, not mapped to a shared definition: Financing (note 23).
  10. “Shares repurchased and cancelled” is an issuer-specific line, not mapped to a shared definition: Financing (note 23).
  11. “Additional drawdown/(repayment) of borrowings” is an issuer-specific line, not mapped to a shared definition: Financing (note 27.3): net movement.
  12. “Interest paid”: mapping to a shared definition is uncertain. Printed 'Interest paid' as one financing line; not split between borrowings and lease liabilities.
  13. “Dividends paid”: mapping to a shared definition is uncertain. Printed 'Dividends paid' as one line; the statement does not say whether dividends to minorities are included.
  14. “Effects of exchange rate changes on cash and cash equivalents” is an issuer-specific line, not mapped to a shared definition: Printed above, and included in, the net decrease in cash and cash equivalents; kept native so the closing-cash check does not add it twice.

Per share and shares

Per share and shares. Columns: FY2025 — audited financial statements (signed / final), as reported for the year; FY2024 — audited financial statements (signed / final), comparative reported in the audited financial statements for 2025.
Line (as printed) FY2025Audited financial statementsreported for the yearFY2024Audited financial statementscomparative in FY2025 filing
Earnings / (loss) per share (per share)41 6.672 7.643
Profit / (loss) attributable to shareholders (ZAR millions)5 1,616 1,858
  1. Printed as 667 cents; value converted to ZAR at 100 cents = 1 ZAR.
  2. Printed as 764 cents; value converted to ZAR at 100 cents = 1 ZAR.
Notes and alternative reported figures (3)
  1. “Basic”: mapping to a shared definition is uncertain. Basic earnings per share (cents), total of continuing and discontinued operations; diluted is printed separately and differs (native eps_diluted).
  2. Earnings / (loss) per share: printed as “Basic”.
  3. Profit / (loss) attributable to shareholders: printed as “Ordinary shareholders”.

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
31 Dec 2025 Dividends paid (cash flow statement) Dividends paid (1,149) ZAR millions Audited financial statements, p21
31 Dec 2024 Dividends paid (cash flow statement) Dividends paid (1,092) ZAR millions Audited financial statements, p21

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.

  • 2025 Sun International Group and Company Audited Financial Statements

    Year ended 31 December 2025 · Audited financial statements · signed / final

    Audit: Deloitte & Touche, unmodified opinion · signed

    Auditor's sign-off: Deloitte & Touche (DocuSign script signature); Per: Carmeni Naidoo Bester, Partner, Registered Auditor

    Final status: The independent auditor's report of Deloitte & Touche to the shareholders of Sun International Limited (unmodified opinion on the consolidated and separate financial statements, PDF p6) closes on PDF p9 with a DocuSign 'Deloitte & Touche' script signature (envelope reference shown) above the typeset 'DELOITTE & TOUCHE, Registered Auditor, Per: Carmeni Naidoo Bester, Partner, 16 March 2026' (page image). The directors' approval (PDF p3) states approval by the board on 12 March 2026 'and signed by' S Sithole (Chairman), RU Bengtsson (Chief Executive) and N Basthdaw (Chief Financial Officer), whose names are typeset with no visible signatures (name_printed_unsigned, page image).

    Document date
    16 Mar 2026
    Auditor's report
    16 Mar 2026
    Board approval
    12 Mar 2026
    Retrieved by us
    8 Oct 2026 (not a publication date)
    Used for
    statement columns FY2025, FY2024
    Basis
    consolidated statements · ZAR millions (printed “R million”)
    • Key audit matters (group): recoverability of deferred tax assets raised on assessed losses; accounting treatment of Vacation Club revenue and contract liability (PDF pp7-8). No emphasis of matter, other matter or material uncertainty related to going concern paragraph is printed.
    • Cash flow statement (p21): interest paid and dividends paid are within financing activities. Effects of exchange rate changes on cash (23; 2024: (61)) are printed inside the net decrease in cash and cash equivalents ((28); 2024: (19)), so they are kept as a native concept within the net change rather than as fx_effect_on_cash, which the closing-cash check adds after the net change.
    • Statement of comprehensive income (p18): no gross profit; the top line 'Income' (12 979; 2024: 12 575) is net gaming wins plus revenue plus insurance receipts and is mapped to revenue (ambiguous); no other comprehensive income total is printed, so its five component lines are read and run into total comprehensive income. Profit for the year includes discontinued operations (14; 2024: 644, notes 9-10).
    • Statement of financial position (p20): the non-current assets, current assets, capital and reserves, non-current liabilities and current liabilities totals are printed unlabelled; assets held for sale (233; 2024: 106) are printed below the current-assets subtotal. Ordinary shareholders' equity (3 219) is printed after a put option reserve of (1 286).
    • Earnings per share is printed in cents (basic 667; 2024: 764; diluted 666; 2024: 759; p19); stored in rand with the printed figure and unit kept.
    Technical details
    File
    102 pages, with a text layer
    SHA-256
    5f5e36d598436637ed8a3cf8c4a56e30381fc4b83dd00972b7d4e42e762b36af
    Entity as printed
    Sun International Limited (Incorporated in the Republic of South Africa), Registration number: 1967/007528/06, Share code: SUI, ISIN: ZAE000097580 (PDF p102)
    Issuer copy
    retrieved 2026-10-08T18:52:56Z

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