Staff Writer
Mediclinic Holdings’ improved operational performance helped drive a 42.3% increase in Remgro’s headline earnings to N$11.14 billion for the year ended 30 June 2026, with the healthcare group contributing an additional N$1.37 billion.
Mediclinic Southern Africa operates three multi-disciplinary private hospitals in Namibia, located in Windhoek, Swakopmund, and Otjiwarongo.
Remgro, an investment holding company listed on the JSE and A2X, said the increased contribution from Mediclinic was supported by improved operational performance in addition to once-off items in the Switzerland division.
These included a N$511 million tax benefit relating to the impairment of inter-company loans and a N$294 million release of a tariff provision, both attributable to Remgro’s share.
Headline earnings per share increased 42.2% to N$20.03 from N$14.09.
Remgro said headline earnings growth included material once-off items totalling N$1.023 billion, comprising the Mediclinic Switzerland tax benefit and tariff provision release, as well as a N$218 million share of a Transnet pipeline cost refund received by TotalEnergies Marketing South Africa.
Excluding these once-off items, Remgro said headline earnings would have increased by approximately 29%, with growth mainly supported by improved operational performances across key investee companies.
Other increased contributions came from Rainbow Chicken, which added N$610 million, Community Investment Ventures Holdings (CIVH) with N$412 million, OUTsurance Group with N$332 million and Heineken Beverages Holdings with N$161 million.
TotalEnergies contributed an additional N$424 million, mainly due to the Transnet pipeline cost refund and positive stock revaluations.
Higher finance income, resulting mainly from a higher average cash balance following the disposal of Remgro’s interest in FirstRand, added N$230 million, while lower finance costs contributed a further N$95 million.
These gains were partly offset by a N$368 million decline in the contribution from RCL Foods, largely due to weaker performance from its sugar business, and N$110 million in lower dividends from FirstRand following its disposal.
Despite the increase in headline earnings, total earnings declined 56.5% to N$1.438 billion from N$3.303 billion.
Remgro attributed the decline mainly to its N$10.042 billion share of impairments recognised by Mediclinic on its Switzerland assets and business.
Remgro declared a final gross dividend of 422 cents per share, compared with 248 cents in 2025. The total ordinary dividend for the year, excluding the special dividend, increased to 595 cents per share from 344 cents.
The board also declared a special dividend of 550 cents per share.
The dividends are subject to a 20% dividend withholding tax, resulting in net payments of 337.60 cents per share for the ordinary dividend and 440 cents for the special dividend, unless shareholders qualify for an exemption or reduced rate under an applicable double-tax agreement.
