Weaver Fintech (WVR) H2 2025 earnings summary

Executive summary

• Achieved record trading profit surpassing ZAR 1.1 billion, with group revenue up 23% year-over-year and profit before tax up 43%.

• Headline earnings per share rose 40% to ZAR 5.50, and dividends increased 36% to ZAR 1.32.

• Fintech division contributed 93% of group profits and 63% of group revenue, driven by strong growth in digital payments, lending, and BNPL products.

• Retail segment restructured to focus on niche homewares, improving margins and cash generation, but required a one-off non-cash impairment.

• Customer base grew 40%, with a focus on urban, tech-savvy African women, now representing 70% of customers.

Financial highlights

• Revenue increased 23% year-over-year, with trading expenses up only 11%, driving margin enhancement.

• Fintech revenue up 36% to ZAR 3.4 billion, now accounting for 37% of group revenue; PBT up 40% to ZAR 784 million.

• Retail revenue grew 6.3% to ZAR 2.03 billion, with trading profit up 31.6% to ZAR 100 million.

• Return on equity rose 370 basis points to 14.7% for the group and 600 basis points to 27% for Fintech.

• Trading profit margin improved by 260 basis points; group PBT margin expanded to 13.5%, fintech trading profit margin at 33.6%.

Outlook and guidance

• Targeting continued strong growth in 2026, with a focus on expanding merchant relationships and fee-based verticals.

• Aims to increase fee verticals from 39% to 50% of revenue and achieve a 30% return on capital.

• Plans to launch PJN Mobile and a linked debit card, with future expansion into wealth and savings products.

• Retail business to focus on double-digit operating margins and capital returns, with limited new store openings and self-funding strategy.

• Early 2026 trading remains strong, with disbursements up 18% and payments GMV up 87% year-to-date.