AECI Limited - Publication of the Group's 2025 Annual Report Suite & Change Statement
PR Newswire
LONDON, United Kingdom, April 22
AECI LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1924/002590/06
Share code: AFE ISIN: ZAE000000220
Hybrid code: AFEP ISIN: ZAE00000238
Bond company code: AECI
LEI: 3789008641F1D3D90E85
(AECI, the Company or the Group)
PUBLICATION OF THE GROUP'S 2025 ANNUAL REPORT SUITE AND CHANGE STATEMENT
- PUBLICATION OF THE GROUP'S 2025 INTEGRATED REPORTING SUITE AND AUDITED ANNUAL FINANCIAL STATEMENTS
AECI shareholders (Shareholders) and AECI noteholders (Noteholders) are advised that the Group's full integrated reporting suite for the financial year ended 31 December 2025 (2025 Integrated Reporting Suite) is available on the Company's website at https://investor.aeciworld.com/results-reports-presentations.phpresults. Alternatively, you may email AECI Investor Relations at aeciinvestorrelations@aeciworld.com to obtain your copy.
The 2025 Integrated Reporting Suite comprises, inter alia, the integrated report (including the governance section incorporating the King Code application statement), the remuneration report, the sustainability report, the notice of annual general meeting and the Group's full audited consolidated and separate annual financial statements for the year ended 31 December 2025 (AFS), on which the Company's auditors, Deloitte & Touche, expressed an unmodified audit opinion.
- CHANGE STATEMENT
The AFS, and the auditor's report thereon, are also available through the JSE cloudlink at https://senspdf.jse.co.za/documents/2026/jse/isse/afe/AFS2025.pdf.
The AFS contain an adjustment to the taxation payable of R32 million, compared to the reviewed condensed consolidated financial results for the year ended 31 December 2025 (Reviewed Results or Group Reviewed AFS), released on SENS on Wednesday, 25 February 2026.
The additional taxation payable recognised relates to unsubstantiated supplier payments identified at the Group's subsidiary in the Democratic Republic of Congo. The Group became aware of these unsubstantiated payments subsequent to publishing the Reviewed Results.
Details of this matter are included in note 24 to the AFS. The consolidated results of the AECI group for the year ended 31 December 2024, as well as the company separate financial results for the years ended 31 December 2024 and 31 December 2025, were not affected.
Primary financial statements
The affected line items in the primary financial statements of the consolidated results, as reflected in the AECI group's audited annual financial statements for the year ended 31 December 2025 (Group Audited AFS) include the following:
Consolidated statement of financial position
At 31 December 2025
Rand million | Group Audited AFS | Group Reviewed AFS | Difference |
Equity and Liabilities | |||
Ordinary capital and reserves | 11,441 | 11,473 | (32) |
Retained earnings | 9,962 | 9,994 | (32) |
Shareholders' equity | 11,447 | 11,479 | (32) |
Total equity | 11,601 | 11,633 | (32) |
Current liabilities | 8,450 | 8,418 | 32 |
Taxation payable | 580 | 548 | 32 |
Total liabilities | 12,801 | 12,769 | 32 |
Consolidated statement of profit or loss
For the year ended 31 December 2025
Rand million | Group Audited AFS | Group Reviewed AFS | Difference |
Taxation (expense)/income | (885) | (853) | (32) |
Profit/(loss) for the year from continuing operations | 330 | 362 | (32) |
Profit/(loss) for the year | 315 | 347 | (32) |
Attributable to the AECI Group equity shareholders | 330 | 362 | (32) |
Per ordinary share (cents) | |||
Basic earnings/(loss) | 313 | 343 | (30) |
Diluted basic earnings/(loss) | 309 | 339 | (30) |
Basic earnings from continuing operations | 327 | 357 | (30) |
Diluted basic earnings from continuing operations | 323 | 353 | (30) |
Consolidated statement of comprehensive income
For the year ended 31 December 2025
Rand million | Group Audited AFS | Group Reviewed AFS | Difference |
Profit/(loss) for the year | 315 | 347 | (32) |
Total comprehensive (loss)/income for the year | (323) | (291) | (32) |
Attributable to the AECI Group equity shareholders | (287) | (255) | (32) |
Consolidated statement of changes in equity
For the year ended 31 December 2025
Rand million | Group Audited AFS | Group Reviewed AFS | Difference |
Total comprehensive loss for the year | (323) | (291) | (32) |
Profit for the year | 315 | 347 | (32) |
Balance at 31 December 2025 | 11,601 | 11,633 | (32) |
The statement of cash flows remains unaffected by this adjustment.
Notes to the financial statements
Affected line items disclosed in the notes to the financial statements include:
Note 25: Earnings per share
Rand million | Group Audited AFS | Group Reviewed AFS | Difference |
Profit/(loss) attributable to the AECI Group equity shareholders | 330 | 362 | (32) |
Headline earnings from continuing and discontinued operations | 1,127 | 1,159 | (32) |
Earnings/(loss) per ordinary share
Cents | Group Audited AFS | Group Reviewed AFS | Difference |
Basic earnings/(loss) | 313 | 343 | (30) |
Continuing operations | 327 | 357 | (30) |
Headline earnings | 1,068 | 1,098 | (30) |
Note 24: Taxation (expense)/income
Rand million | Group Audited AFS | Group Reviewed AFS | Difference |
Current taxation (expense)/income - continuing operations | (1,122) | (1,090) | (32) |
South African and foreign normal taxation, including prior year adjustment - continuing operations | (1,015) | (983) | (32) |
Total income taxation (expense)/income | (885) | (853) | (32) |
The effective tax rate reconciliation included in note 24 has been adjusted to reflect an effective tax rate of 72.9% (Reviewed Results: 70%). The main line items affected are:
- Non-deductible expenses: 15.2% (Reviewed Results: 13%); and
- Prior year adjustment: 1.8% (Reviewed Results: 1%).
Woodmead, Sandton
22 April 2026
Equity Sponsor: One Capital
Debt Sponsor: Questco Proprietary Limited
