KAP LIMITED - Audited Annual Financial Statements For The Year Ended 30 June 2025

Audited Annual Financial Statements For The Year Ended 30 June 2025

KAP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1978/000181/06)
Share code: KAP
ISIN: ZAE000171963
Company Alpha Code: KAP
LEI code: 3789001F51BC0045FD42
('KAP' or 'the Company')


AUDITED ANNUAL FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025


1.   SALIENT FEATURES

     Revenue increased by 2% to R29 615 million, from R29 062 million for the year ended 30 June
     2024 ('prior year').

     Operating profit before capital items decreased by 14% to R1 937 million, from R2 250 million in
     the prior year.

     Headline earnings per share decreased by 47% to 24.1 cents, from 45.3 cents in the prior year.

     Earnings per share decreased by 99% to 0.4 cents, from 43.8 cents in the prior year.

     Net asset value per share decreased by 0.4% to 498 cents, from 500 cents in the prior year.

     The board of directors has not declared a dividend for the year ended 30 June 2025
     (30 June 2024: Nil).

2.   SHORT-FORM ANNOUNCEMENT

     This short-form announcement is the responsibility of the directors of the Company. It contains
     only a summary of the information in the annual financial statements for the year ended 30 June
     2025 ('AFS') and the summary consolidated financial statements for the year ended 30 June 2025
     ('Summary Financial Statements') and does not contain full or complete details.

     The Summary Financial Statements are available on the Company's website at
     https://kap.co.za/wp-content/uploads/2025/08/kap-audited-results-for-the-year-ended-30-june-
     2025.pdf.

3.   ANNUAL FINANCIAL STATEMENTS

     The AFS have been audited by the Company's auditors, KPMG Inc., who expressed an unmodified
     audit opinion thereon. The full auditor's report includes details of key audit matters. This auditor's
     report,    along    with    the    AFS,      is    available   on     the    JSE's     cloudlink    at
     https://senspdf.jse.co.za/documents/2025/JSE/ISSE/KAP/AFS25.pdf and on the Company's
     website at https://kap.co.za/wp-content/uploads/2025/08/kap-consolidated-and-company-annual-
     financial-statements-2025.pdf.

     Any investment decisions by investors and/or shareholders should be based on consideration of
     the AFS, as a whole. 

4.   WEBCAST

     A live webcast of the results presentation will be broadcasted at 10:00 a.m. (SAST) today. The
     webcast registration link is https://www.corpcam.com/KAP28082025 and can be accessed on the
     KAP website at www.kap.co.za.


Stellenbosch
28 August 2025

Equity and Debt Sponsor
PSG Capital   

Date: 28-08-2025 07:05:00
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