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Release Date: September 02, 2026

For the complete transcript of the earnings call, please refer to the full earnings call transcript .

Q & A Highlights

Q: Do you think that the new vehicle momentum that has kicked off this year is going to continue into the future? A: Ockert Rensburg (CEO) stated that the market's resilience and growth have been surprising, with July and August continuing to show strong growth. He attributes this to the large influx of new entrants, relatively low interest rates, and a closing affordability gap that is attracting new consumers. He believes that as long as there are no significant sales price increases, the momentum is likely to continue, though not necessarily at the very high growth rates seen in the last 18 months.

Q: When does Motus expect to come to market with its DMTN bond listing, and what is the size of that? A: Brenda Baijnath (CFO) announced that they will commence debt roadshows from next week, targeting a ticket size of ZAR1.5 billion. She clarified that the DMTN program is not intended to increase debt levels but rather to replace existing debt to further drive down interest costs.

Q: Can you give any guidance on whether the balance sheet is going to continue to gear? A: Brenda Baijnath (CFO) stated that the current gearing level is very low, and the optimal net debt to EBITDA remains at 1.5 to 1.7 times. The company will look at smaller, moderate acquisitions, maintain the new dividend policy of 40% of headline earnings per share, and consider value-accretive share repurchases.

Q: The Tata relaunch has gone really well this year. Would you consider adding any more brands to your importer portfolio? A: Ockert Rensburg (CEO) acknowledged that launching a brand is not easy but noted that the success of Tata demonstrates their ability to execute a "plug and play" strategy. While there are opportunities, there is nothing imminent, but he hinted that there might be news in the next six months.

Q: How did the company manage to achieve such a strong financial performance despite a tough economic environment? A: Brenda Baijnath (CFO) attributed the strong performance to higher sales volumes, improved margins across the board, strict cost discipline, and the successful execution of the strategy. She highlighted the significant increase in Chinese and Indian brand sales volumes (up over 200% in South Africa) and the proactive management of working capital and debt reduction, which led to a 14% reduction in core interest-bearing debt.

Q: What is the outlook for the UK aftermarket parts business, which has been under pressure? A: Ockert Rensburg (CEO) explained that the UK retail aftermarket parts business faced pressure primarily from operating expenses, which increased by 13% due to government-driven increases in national insurance and minimum wage. He noted that this cost is now in the base and significant increases are not expected going forward. The company is strengthening the management team and accelerating digital solutions to drive top-line growth and improve profitability.

Q: How is Motus navigating the shift towards electric vehicles (EVs) and new energy vehicles (NEVs)? A: Ockert Rensburg (CEO) noted that the NEV trend has started in the UK, surged in Australia, and is coming to South Africa, albeit at a slower pace due to a lack of government support. The company is closely monitoring customer behavior changes and is positioning itself to take advantage of this shift. In Australia, the recent acquisition of the Warrago dealership, which includes Chinese brands, will help service the growing demand for EVs.

Q: Can you elaborate on the performance of the South African aftermarket parts business and its growth strategy? A: Brenda Baijnath (CFO) highlighted that the South African aftermarket parts business was a key performer, with operating profit up 20% and profit before tax almost doubling to ZAR330 million. The growth was driven by accessing new, previously underserved informal markets, with the number of active "Kazi mechanics" exceeding the target of 1,000 and reaching 3,300. The company is focused on accelerating top-line growth in the coming year.

Q: What is the company's strategy for capital allocation and shareholder returns? A: Brenda Baijnath (CFO) outlined a disciplined financial framework with five priorities: extracting more cash flow, managing debt levels, disciplined capital allocation, responding to economic volatility, and delivering attractive shareholder returns. The company has increased its dividend payout ratio to 40% of headline earnings per share, resulting in a 29% increase in dividends year-on-year. They will continue to look for moderate acquisitions within existing business segments and value-accretive share repurchases.

Q: How did the company manage to reduce its foreign exchange losses in the second half of the year? A: Brenda Baijnath (CFO) explained that the company experienced ZAR140 million in foreign exchange movements, but reduced the loss from ZAR91 million in the first half to ZAR49 million in the second half through proactive hedging strategies. They have locked in forward cover for the US Dollar until April next year at 16.68 and for the Euro until March next year at 19.69, providing certainty on gross margins for the next nine months.

For the complete transcript of the earnings call, please refer to the full earnings call transcript .