Wrap Text
Condensed Reviewed Interim Group Financial Results for the Six Months ended 28 February 2026
enX GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2001/029771/06)
JSE share code: ENX ISIN: ZAE000222253 – General Segment
("enX" or "the Group" or "the Company")
CONDENSED REVIEWED INTERIM
GROUP FINANCIAL RESULTS
for the half-year ended 28 February 2026
- Revenue from continuing operations: R122 million (2025: R194 million), decreased by 37%
- Loss before tax from continuing operations: R6 million (2025: Profit of R16 million)
- HEPS from continuing operations: Headline loss of 3c per share (2025: Profit of 3c per share)
- Net asset value per share: R5.26 per share (31 August 2025: R5.24 per share)
For the period ended For the period ended For the year ended
28 February 2026 28 February 2025 31 August 2025
(cents) (cents) (cents)
Reviewed Unaudited Audited
Total operations
Basic earnings / (loss) per share 2 (44) (93)
Diluted earnings / (loss) per share 2 (44) (93)
Headline earnings per share 8 47 53
Net asset value per share** 526 865 524
Net tangible asset per share** 526 865 524
For the period ended
For the period ended 28 February 2025 For the year ended
28 February 2026 (cents) 31 August 2025
(cents) (Restated#) (cents)
Reviewed Unaudited Audited
Continuing operations
Basic (loss) / earnings per share (3) 3 (1)
Diluted (loss) / earnings per share (3) 3 (1)
Headline (loss) / earnings per share (3) 3 (1)
Discontinued operations
Basic earnings / (loss) per share 5 (47) (92)
Diluted earnings / (loss) per share 5 (47) (92)
Headline earnings per share 11 44 54
** Equity attributable to equity holders of the parent / Number of shares in issue less treasury shares.
# The Prior Period has been restated due to the classification of enX's Lubricant segment (AG Lubricants) and enX's Chemical segment (WAG) as
disposal groups held for sale and discontinued operations as at 1 December 2024 and 30 June 2025, respectively. The Prior Period Basic loss per
share, Diluted loss per share and HEPS remain unchanged on a total operations basis. The split between continuing and discontinued operations
has, however, changed due to AG Lubricants and WAG being classified as disposal groups held for sale and discontinued operations.
Following the classification of the Chemical segment as a disposal group held for sale and a discontinued operation with effect from
30 June 2025, the Group's continuing operations comprise the Power segment and the Service Centre.
The performance of continuing operations reflects the ongoing transition of the Group, with reduced scale following prior disposals.
The Group continues to focus on cost discipline and cash preservation, optimising the remaining asset base, and executing its
disposal strategy in an orderly manner to maximise value for shareholders.
Revenue from continuing operations for the six months ended 28 February 2026 decreased to R122 million (2025: R194 million),
representing a 37% decline. The decrease in revenue was primarily attributable to lower activity on large, project-based data centre
contracts, which are inherently lumpy and dependent on project timing. Excluding these contracts, the decline in underlying activity
was more moderate, with reduced generator sales and rental activity reflecting softer demand in traditional markets.
Operating loss from continuing operations before net finance costs and impairments increased to R19 million (2025: loss of
R12 million) compared to the same period last year, primarily due to reduced revenue, partially offset by ongoing cost reductions
across the Power segment and the Service Centre.
Net finance income decreased to R13 million (2025: R29 million), reflecting lower average cash balances following the return of
capital to shareholders with reduced interest income on surplus restricted and unrestricted cash.
Loss before tax from continuing operations was R6 million (2025: profit R16 million) reflecting lower operating profit and reduced
finance income.
Headline loss per share from continuing operations was 3 cents per share (2025: profit of 3 cents per share).
The net asset value per share was R5.26 per share (31 August 2025: R5.24 per share).
Net cash flow before financing amounted to an inflow of R53 million (2025: R41 million) supported by working capital inflows, including
the release of cash collateral provided in the prior period in relation to the New Way Power manufacturing facility acquisition.
Subsequent to the reporting period, the disposal of the Group's remaining 75% interest in West African International Proprietary
Limited was completed on 30 April 2026, with proceeds of R294.7 million received. The associated escrow security of R107.3 million
is expected to be released in May 2026, subject to customary notice periods and administrative processes.
The financial results for the six months ended 28 February 2026 have been reviewed by KPMG, the Group's external auditors,
who have expressed an unmodified review report thereon. A copy of the auditor's review report is available for inspection at the
company's registered office together with the financial statements identified in the auditor's report. KPMG's unmodified review
report on the interim condensed consolidated financial statements is available on https://www.enxgroup.co.za/interim-results
This short-form announcement is the responsibility of the directors of the Company. This short-form announcement is only a
summary of the Condensed Reviewed Interim Group Financial Results ("Full Announcement") which is published on the Company's
website (https://www.enxgroup.co.za/interim-results) and does not contain complete or full details. Any investment decisions by
the investors and/or shareholders should be based on consideration of the Full Announcement.
The Full Announcement can be accessed directly using the following JSE cloudlink:
https://senspdf.jse.co.za/documents/2026/jse/isse/enx/HY2026.pdf
By order of the board,
K Mokhobo R Lumb J Dawson
Chair Chief Executive Officer Chief Financial Officer
18 May 2026
DIRECTORS
Executive directors: R Lumb (Chief Executive Officer),
J Dawson (Chief Financial Officer)
Non-executive directors: K Mokhobo1 (Chairman),
K Matthews1, N Simamane1
1 Independent
Registered office: 9th Floor, Katherine Towers, 1 Park Lane, Sandton
Postal address: PostNet Suite X86, Private Bag X7, Aston Manor, 1630
Sponsor: Valeo Capital Proprietary Limited
Company secretary: Acorim Proprietary Limited, represented by R Cloete
Transfer secretaries: Computershare Investor Services Proprietary Limited
Date: 18-05-2026 01:30:00
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