SZK Trading Statement Neutral

SAB ZENZELE KABILI HOLDINGS (RF) LIMITED - SABZK Trading statement for the year ended 31 December 2025

SAB Zenzele Kabili Holdings (RF) Limited
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What this filing means

SABZK expects significant EPS and NAV growth for FY25, driven entirely by a mechanical mark-to-market fair value gain on its passive Anheuser-Busch InBev investment.

Bull case

  • EPS and HEPS are expected to increase by more than 100% from the prior year's losses, reaching between R8.07 and R11.79.
  • Net Asset Value per share (NAVPS) is projected to grow by 29% to 39%, rising to between R36.37 and R39.19.

Bear case

  • The company's performance is entirely passive and concentrated in the fair value movements of a single underlying asset.

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Category
Trading Statement
Event posture
No Edge
Published
Mar 12, 2026

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