Billionaire Johann Rupert sitting on an R8.31 billion pile of cash

Remgro has reported stellar results for the 2026 financial year, with the group’s free cash flow more than doubling to reach R8.31 billion.

The South African investment giant, chaired by billionaire businessman Johann Rupert, also saw its headline earnings surge by 42.3%.

This was revealed in Remgro’s results for the year through June 2026, which were released on Friday, 18 September.

Remgro reported a 42.3% increase in headline earnings to R11.14 billion, along with a 4.6% increase in its intrinsic net asset value per share to R305.80.

While the company benefited from R1.02 billion in material one-off items, its underlying headline earnings still grew by 29% when these items are excluded.

The investment giant also revealed that its free cash flow rose by 105.6% to R8.31 billion.

This free cash flow surge can be attributed to a 104.4% increase in dividend receipts, which included R2.06 billion in pre-implementation dividends received from CIVH. 

Vodacom acquired a 30% stake in CIVH’s primary asset, Maziv, in December 2025, contributing R4.9 billion in assets and R6.1 billion in cash.

This deal helped CIVH’s headline earnings contribution to Remgro go from a R93 million loss in 2025 to a R319 million profit in 2026.

Remgro said its 2026 financial year represented another year of meaningful progress for the company.

It said 2026’s strong results were underpinned by earnings growth across the board, strong cash generation and solid contributions from key investee companies. 

“This performance reflected the quality and resilience of Remgro’s portfolio, disciplined capital allocation and active ownership, which together enhanced the group’s financial position and strategic flexibility,” it said.

Aside from the landmark Vodacom/Maziv deal, Remgro also sealed several other major transactions in the 2026 financial year.

Notable deals included selling its remaining FirstRand stake for R8.47 billion, its British American Tobacco stake for R1.21 billion, and unbundling its eMedia Investments interest to shareholders.

The 2026 financial year also saw Remgro reach a major agreement with MSC to restructure their respective holdings in Mediclinic.

On the back of this busy and highly profitable year, Remgro declared a dividend of 595 cents per share, a 73% increase from 2025.

On top of that, Remgro will be issuing a special dividend of 550 cents per share.