Metair Investments reported a ZAR 444 million earnings before interest and taxes for the six months ended June 30, 2026, up 1% from ZAR 439 million a year earlier, as revenue rose 1% to ZAR 8.5 billion.
Net debt decreased to ZAR 4.3 billion from ZAR 5.0 billion, while cash at period end increased to ZAR 620 million from ZAR 143 million. Headline earnings per share from continuing operations rose 4% to ZAR 0.71, and earnings per share swung to a profit of ZAR 0.70 per share from a loss of ZAR 0.90.
EBITDA grew 8% to ZAR 760 million, and cash from operations excluding Rombat reached ZAR 697 million. Return on invested capital improved to 11.2% from 11.1% at the end of fiscal 2025. The group’s H1 capital expenditure totaled ZAR 244 million, with full-year 2026 capex expected at ZAR 733 million before normalizing to ZAR 400 million–ZAR 450 million annually from fiscal 2027.
Segment performance showed divergence. Hesto Harnesses revenue fell 17% to ZAR 2.6 billion, with EBIT down 36% to ZAR 136 million and margins narrowing to 5.3%. Other OEM businesses reported a 3% revenue decline to ZAR 3.5 billion but EBIT rose 30% to ZAR 297 million, lifting margins to 8.5%. The Africa aftermarket cluster posted a 6% revenue increase to ZAR 1.9 billion, though EBIT margins eased to 2.9%. Rombat’s revenue dropped 21% to ZAR 955 million, but EBIT margins improved to 5.4%, while the unit paid a ZAR 4.2 million installment of a Competition Commission fine in August 2026.
CEO Paul O’Flaherty highlighted operational stability achieved through 2024 and 2025, noting the group is now in a growth phase. CFO Alastair Walker said the group successfully refinanced its South African Obligor finance package and extended it for five years, removing an EBITDA trigger that had previously required asset sales or rights offerings if targets were missed.
