Grindrod Limited (Grindrod) today announced its results for the six months ended 30 June 2025, reporting a resilient performance underpinned by its strategic focus on core operations.
Despite global commodity headwinds, with sluggish prices in iron ore, lithium, graphite, and coal, Grindrod delivered solid earnings from its core operations. The Group attributes this resilience to its sharp focus on integrated, cost-effective logistics solutions and its strategy of investing in assets that enable cargo flow.
The Group achieved earnings of R1 471.6 million (H1 2024: R566.4 million) and core headline earnings of R562.4 million (H1 2024: R561.9 million). Core headline earnings were underpinned by a strong second-quarter recovery at the Matola terminal and the Port of Maputo.
Key operational highlights include:
- Strong recovery of the Maputo corridor: Following disruptions late last year, the corridor rebounded to deliver faster turnaround times and record cargo volumes. The dry bulk terminal operated by the port of Maputo achieved export volumes of 6.5 million tonnes (“mt”) (H1 2024: 6.9mt).
- Record performance at Grindrod's drybulk terminal in Matola: The terminal achieved its highest-ever monthly throughput of 1.1mt in May 2025, setting new efficiency benchmarks for vessel loading.
- Strategic divestments: Completion of exits from the marine fuels business and north coast property loans exposure, in line with the Group's strategy to focus on core business.
- Infrastructure investment: Acquisition of the remaining 35% stake in Matola. Grindrod now owns 100% of the strategic asset, strengthening its integrated "pit-to-port-to-market" offering.
- New concession: Signing of an agreement with Transnet National Ports Authority, in partnership with Eyamakhosi Resources, to develop and operate a container handling facility at Richards Bay.
- Rail reform momentum: The Group is advancing an overhaul programme of 13 locomotives repatriated from Sierra Leone, which will play a key role in South Africa's upcoming Open Access.
Reflecting its strong balance sheet, Grindrod declared a special ordinary dividend of 32.3 cents per share, in addition to the normal ordinary dividend of 23.0 cents per share.
“Our disciplined execution of strategy continues to strengthen Grindrod's position as a leading provider of integrated, cost-effective and efficient logistics solutions across sub-Saharan Africa," said Xolani Mbambo, CEO of Grindrod Limited. "By completing non-core operations divestitures, securing ownership of strategic assets, and advancing our rail participation, we are enabling sustainable cargo flows and long-term growth for shareholders, customers and key stakeholders alike."
