Nutun (NTU) H2 2025 earnings summary

Executive summary

• Achieved all structural and operating objectives for a two-year restructuring, including simplification of group structure, disposal of non-core operations, and material reduction in overheads.

• Foundations laid for a return to profitability, with experienced management teams and streamlined operations in both South Africa and international segments.

• Reentered the NPL market and diversified the BPO customer base, with a focus on technology-driven solutions and client retention.

Financial highlights

• Revenue and other income from continuing operations decreased 3% year-over-year to R2,953m.

• EBITDA from continuing operations declined 5% to R1,304m.

• Core loss from continuing operations improved by 51% to (R45m) from (R92m) in FY24.

• Basic loss per share from continuing operations improved 23% to (14.4) cents.

• Net interest expense reduced by 27% year-over-year.

Outlook and guidance

• Positive outlook for book buying in FY26/FY27 as market dynamics improve in South Africa.

• Strategic use of technology, including AI and digitalisation, to drive efficiencies and position as a provider of AI-driven digital solutions.

• International segment expects continued client diversification and growth, with successful penetration of the US market.

• Potential headwind from Rand strength and uncertainty around new DTI programme.