Update on strategy

Our strategic pillars

  Maximise diverse portfolio

What it means

Continuous broadening of service and product basket

Offer cost-effective solutions in a constrained operating environment

Progress in FY2019

  • We consolidated and modernised operational sites in Electrical, Office and Print and Commercial Products to improve efficiency and costs.
  • Introduced new technologies such as automated access control via ClickOn and drone technology via UDS.
  • Scaled up our bottled water activities and built-out the vertically integrated capabilities of Cabstrut.

  Responsible stewardship

What it means

Deliver sustainable solutions

Add value to customers

Develop people to grow the talent pool

Adapt our business model to unique South Africa environment

Progress in FY2019

  • 60 employees participated in our Bidvest Academy programme.
  • R440m was invested in developing our people.
  • A membrane bioreactor plant was installed at Bidvest Laundry Group Cape Town. The resultant water saving has been 83% per day.

  Maintain strong financial position

What it means

Drive strong cash generation

Focus on tight asset management

Capacity to accommodate growth

Dispose of non-core assets

Progress in FY2019

  • R7.1bn cash was generated.
  • 0.9x net debt to EBITDA leaves ample room for expansion.
  • Two successful domestic bond placements.
  • Remaining Bidcorp shares were sold, the minorities in Bidvest Namibia were bought out and the entity delisted and a sale agreement was signed for our 6.75% stake in Mumbai International Airport Ltd.

  Allocate capital to grow

What it means

Invest in relevant South African infrastructure

Expand internationally in Services and Commercial Product niches

Broaden product offering via acquisitions

Progress in FY2019

  • Bolt-on acquisitions totalled R1bn. Eqstra was acquired, subject to customary approvals.
  • LPG tanks were fabricated and shipped to Richards Bay. The project is on time and within budget.
  • The establishment of an inland LPG terminal was approved.
  • 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.