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Audited consolidated and separate financial statements for the year ended 31 December 2024
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
(“Trencor” or “the Company”)
AUDITED CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
Trencor is a cash company and is in the process of distributing its available cash resources to shareholders. Such distribution or distributions will take account of the settlement of its actual and potential expenses still to be incurred during its winding up process, pending its ultimate liquidation.
This short form announcement is the responsibility of the directors and represents a summary of the information contained in the audited consolidated and separate annual financial statements for the year ended 31 December 2024, which are available on the Company’s website https://www.trencor.net/financial-reports/2024-reports/ and https://senspdf.jse.co.za/documents/2025/JSE/ISSE/TRE/YEres24.pdf
The Company’s independent auditor, KPMG Inc., has issued an unmodified audit opinion with an emphasis of matter related to the intention to voluntary wind up and liquidate the group and company. The audit report accompanies the audited consolidated and separate financial statements for the year ended 31 December 2024.
Any investment decisions by shareholders and other investors should be based on consideration of the audited consolidated and separate financial statements for the year ended 31 December 2024.
CONSOLIDATED FINANCIAL SUMMARY
| 2024 | 2023 | ||
| Operating profit before finance income | Rm | 509 | 87 |
| Profit before tax | Rm | 593 | 165 |
| Basic and diluted earnings per share | Cents | 327,4 | 71,5 |
| Headline earnings | Rm | 53 | 124 |
| Headline earnings per share | Cents | 30,6 | 71,5 |
| Consolidated net asset value per share | Cents | 843 | 813 |
Included in operating profit before finance income and profit before tax is an amount of R515 million relating to the recycling of the accumulated foreign currency translation reserve from other comprehensive income to profit or loss on the dissolution of TAC Limited.
DIVIDEND
On 28 January 2025 the board declared a special cash dividend of 730 cents per share amounting to R1,267 billion.
No dividends were declared in respect of 2024 (2023: nil).
On behalf of the board
Ric Sieni
Chief Executive Officer and Financial Director
25 March 2025
Sponsor: Investec Bank Limited