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Unaudited Condensed Interim Financial Results for the six months ended 30 September 2025
Cilo Cybin Holdings Limited
Incorporated in the Republic of South Africa
(Registration number 2022/320351/06)
Share code: CCC ISIN: ZAE000310397
Listed on the General Segment of the JSE
("Cilo Cybin" or "the Company" or "the Group")
Unaudited Condensed Interim Financial Results for the six months ended 30 September 2025
Introduction
The board of directors of Cilo Cybin Holdings Limited ("the Board") hereby presents the unaudited condensed
consolidated interim financial results for the six-month period ended 30 September 2025 ("the period"). These
financial results reflect the Group's performance following the completion of the acquisition of Cilo Cybin
Pharmaceutical (Pty) Ltd ("CC Pharmaceutical"), the effective date of which was 30 September 2025. Cilo Cybin
transferred from the JSE's AltX to the Main Board under the general segment on 29 September 2025, less than 15
months of the initial listing onto the AltX, which represents a significant achievement for the team.
Due to the nature of the transaction, it was accounted for as a reverse acquisition in accordance with IFRS 2 and IFRS
3, thereby resulting in the accounting acquirer being CC Pharmaceutical, and the continuing entity from a reporting
perspective. This effectively means that the comparative numbers reflect as those of CC Pharmaceutical and not those
of Cilo Cybin as previously presented in the audited annual financial statements for the year ended 31 March 2025.
Key features of the six-month period:
- Revenue for the period increased to R18.6 million (2024: R16.2 million), driven by continued growth in the
Group's pharmaceutical and cannabis-derived product lines.
- A non-cash IFRS 2 listing expense of R217.5 million was recognised in the statement of profit or loss, arising
from the reverse acquisition and the issue of shares to acquire the listing status of Cilo Cybin.
- As a direct result of the IFRS 2 listing expense, the Group reported a loss after tax of R212.1 million (2024: profit
of R6.0 million).
- Excluding the once off IFRS 2 charge the Group would have ended on a profit of R5 million. Profit for the
period was subdued due to delay in regulatory approvals which hindered further expansion into new product
offerings. In the current financial period, our product mix changed to optimise profitability and operating
efficiencies.
- Significant costs were incurred to complete the acquisition of CC Pharmaceutical which negatively impacted
profit however now that the acquisition has been completed, operating expenses are expected to normalise.
- The Group ended the period with a strong cash position of R58.3 million (March 2025: R1.27 million), primarily
due to the acquisition and consolidation of cash held by both Cilo Cybin and CC Pharmaceutical.
- During the period, Cilo Cybin implemented the acquisition of CC Pharmaceutical through the issue of:
- 153 636 364 consideration ordinary shares;
- 5 820 866 loan settlement ordinary shares; and
- 57 613 636 Class A unlisted ordinary shares.
- Total assets increased to R108.9 million (March 2025: R46.6 million)
- Total equity increased to R100.2 million (March 2025: R15.9 million)
- Biological assets increased to R5.8 million (March 2025: R5.5 million)
- Inventories increased to R11.9 million (March 2025: R10.2 million)
- Headline loss per share decreased to 285.98 cents per share (Mar 25*: 5.58 cents per share, Sep 24*: 62.51 cents
per share)
- Loss per share declined to 285.98 cents per share (Mar 25*: 5.58 cents per share, Sep 24*: 62.51 cents per share)
- Normalised earnings per share (excluding once off IFRS 2 Listing expense) would have been 7.26 cents per
share.
- *Unpublished
Future Prospects
The Group expects continued growth in revenue as production expands, new product lines enter the market, and
strategic partnerships mature. Following the completion of the reverse acquisition, the Group is now positioned as a
unified biotech and pharmaceutical operator with enhanced access to capital markets.
Management's focus for the next period includes:
- scaling GMP-manufacturing capacity;
- expanding export markets;
- optimising cultivation efficiencies; and
- advancing the Group's wellness and biotechnology product pipeline.
The Board is satisfied that the Group has adequate resources to continue as a going concern for the foreseeable future.
During the interim period, the Company continued its evaluation and due diligence of potential acquisition targets
aligned with its investment strategy.
Basis of preparation
The unaudited interim financial statements for the six month period ended 30 September 2025 ("Results") have been
prepared in accordance with the framework concepts and the measurement and recognition requirements of the IFRS
Accounting Standards (IFRS), contain the minimum information required by IAS 34 Interim Financial Reporting, the
SAICA Financial Reporting Guides as issued by the Accounting Practices Committee, the Financial Reporting
Pronouncements as issued by the Financial Reporting Standards Council, the requirements of the Companies Act, 71
of 2008, as amended, and the JSE Listings Requirements.
Accounting Policies
The accounting policies applied in the preparation of the Results are in terms of the IFRS and are consistent with
those applied in the annual financial statements for the year ended 31 March 2025, including the new and amended
IFRS that became effective during the 30 September 2025 reporting period, none of which had a material impact on
the Company's financial results.
The Results have been prepared under the historical cost convention.
The Results were prepared under the supervision of Ms R.M Ledwaba (CA) SA in her capacity as Chief Financial
Officer.
Results announcement
This results announcement is the responsibility of the Board. This results announcement does not contain full or
complete details of the Results released on SENS on 21 November 2025. The Results, as published on SENS, can be
found on the Company's website at www.cilocybin.com and on the JSE's cloudlink at:
https://senspdf.jse.co.za/documents/2025/jse/isse/ccce/interims25.pdf
Any investment decision should be based on the Results as a whole. None of the information in this announcement
has been reviewed or reported on by the Company's external auditors.
By order of the Board
GC Theron
Chief Executive Officer
RM Ledwaba
Financial director
Corporate information
Executive directors
Gabriel Christiaan Theron
Reshoketswe Maggy Ledwaba
Non-executive directors
Sakekile Baduza (Independent)
Dr Tham Seng Kong (Chairman)
Daktuk Mohd Razef Adbullah (Independent)
Cindee Chew Yoke Ling Independent)
Wei Sim (Amanda) Low (Independent)
Lisa Teoh (Independent)
Jessica Moodley-Theron
Sponsor
Merchantec Capital
Company Secretary
Acorim
Commercial bankers
FNB
Registered office
The registered office, which is also the principal place of business, is:
23 Sterling Road, Unit E4 The Point Office Park, Samrand, 0157
Transfer secretaries
Computershare Investor Services Proprietary Limited
(Registration number 2024/003647/07)
Rosebank Towers
15 Biermann Avenue
Rosebank
Johannesburg, 2196
South Africa
(Private Bag X3000, Saxonwold, 2132, South Africa)
www.cilocybin.co.za
Centurion
21 November 2025
Date: 21-11-2025 03:27:00
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