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WHAT IT MEANS |
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PROGRESS IN FY2018 |
Maximise
diverse portfolio |
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Continuous broadening of service and product basket
Offer cost-effective solutions in a constrained operating environment |
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- We consolidated and modernised operational sites in
Electrical, Office & Print and Services to improve efficiency
and costs
- Introduced new technology such as autonomous brooms
in Noonan and tracking chips in Renttech
- We broadened our financial services offering with asset
management, financial emigration and other services
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Responsible
stewardship |
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Deliver sustainable solutions
Add value to customers
Develop people to grow the talent pool
Adapt our business model to unique SA environment |
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- 82 employees participated in our Bidvest Academy
and Executive Development programmes
- R602m was invested in developing our people
- Electech commissioned a solution that removed SA's biggest
laundry from the water and power grid
Refer to Bidvest footprint
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Maintain strong financial position |
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Drive strong cash generation
Focus on tight asset management
Ample capacity to accommodate expansion
Dispose of non-core assets |
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- R9.4bn cash was generated
- 0.8x net debt to EBITDA leaves ample room for expansion
- No non-core assets were disposed. It remains a key
focus area
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Allocate
capital to grow |
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Invest in relevant SA infrastructure
Expand internationally in Services and Commercial Product niches
Broaden product offering via acquisitions |
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- Our maiden offshore acquisition, Noonan, became
effective 1 September 2018
- Bolt-on acquisitions totalled R682m
- 11 multi-purpose storage tanks were commissioned
- The earthworks were completed and the specialist steel
rolled for an LPG project in Richards Bay. The project is on
track for commissioning mid-2020
- Many acquisitive opportunities were assessed with some still
being considered, while others were declined as we remain
steadfast in our acquisition disciplines. We continue to seek
opportunities within our target set
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