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Trading Statement and Publication Date of the Financial Results for the six months ended 31 March 2025
WE BUY CARS HOLDINGS LIMITED
Incorporated in the Republic of South Africa
Registration number 2020/632225/06
JSE Share code: WBC
ISIN: ZAE000332789
("WeBuyCars", "the Company" or "the Group")
TRADING STATEMENT AND PUBLICATION DATE OF THE FINANCIAL RESULTS FOR THE SIX MONTHS ENDED 31 MARCH 2025
In terms of paragraph 3.4(b) of the Listings Requirements of the JSE Limited ("JSE"), a listed company is
required to publish a trading statement as soon as a reasonable degree of certainty exists that the financial
results for the next period to be reported on will differ by 20% or more from the financial results for the previous
corresponding period.
WeBuyCars utilises core headline earnings to measure and benchmark the underlying performance of the
business. Core headline earnings represents headline earnings adjusted for certain non-recurring or non-
cash items that, in the view of the Group's board of directors ("the Board"), may distort the financial results
from period to period.
Accordingly, the Board advises shareholders that it is reasonably certain that the financial results for the six
months ended 31 March 2025, when compared with the results for the six months ended 31 March 2024
("previous corresponding period"), are expected to be as follows:
Total earnings Six months ended 31 March 2025 Six months ended
31 March 2024
Expected number range Expected percentage Actual reported
change
Core headline earningsi R500,2 million to R516,3 24% to 28% increase R402,0 million
million
Core headline earnings 119,4 cents to 124,2 cents 0% to 4% increase 119,9 cents
per share i, ii
Basic earnings R505,3 million to R508,8 increase by more -R69,5 million
million than 100%
Basic earnings per 121,0 cents to 122,0 cents increase by more -20,7 cents
shareii than 100%
Headline earnings R506,5 million to R510,0 increase by more -R69,5 million
million than 100%
Headline earnings per 121,3 cents to 122,3 cents increase by more -20,7 cents
shareii than 100%
i. Core headline earnings is a non-IFRS measure which excludes gains/losses, costs and adjustments relating to
acquisitions and disposals of investments; once-off transaction costs which are directly attributable to corporate
activity; and non-cash accounting adjustments to the call option derivative asset relating to non-controlling interests.
ii. Weighted average number of ordinary shares ("Shares") in issue at 31 March 2025: 417 262 880
(31 March 2024: 335 281 661). Actual number of Shares in issue at 31 March 2025: 417 312 804 (31 March 2024:
377 181 120).
The 83 185 241 new Shares issued on 29 February 2024, 27 March 2024 and 11 April 2024, have an
unfavourable impact on the core headline earnings per share, the basic earnings per share and the headline
earnings per share in the six months ended 31 March 2025. These new Shares were issued in terms of the
pre-listing capital raise, which was approved by shareholders prior to the listing of WeBuyCars on the Main
Board of the JSE on 11 April 2024. More details relating to the new Share issues are set out in the
Pre-listing Statement (dated 12 March 2024) and in the Integrated Annual Report for the year ended 30
September 2024.
There were no basic earnings per share or headline earnings per share adjustments in the six months ended
31 March 2025. However, basic earnings per share and headline earnings per share for the previous
corresponding period were impacted by the following non-core, once-off transaction costs and non-cash call
option derivative accounting adjustments:
1. Pursuant to the successful listing on the Main Board of the JSE, the Company incurred once-off
professional, legal and JSE listing fees totalling R45,0 million.
2. The call option derivative asset of R426,5 million (as at 30 September 2023) relating to the pre-listing
call options on the founders' 25,1% shareholding in the Group was derecognised on 25 March 2024.
This fair value loss on derecognition of the call option derivative was once-off in nature, non-core and
had no cashflow impact.
The financial information on which this trading statement is based, has not been reviewed or reported on by
the Group's external auditors.
The financial results for the six months ended 31 March 2025 are expected to be published on SENS on or
about Monday, 19 May 2025 and a webcast of the results presentation is expected to be broadcast at
09h00 on Monday, 19 May 2025. Shareholders wishing to view the live webcast should register at:
https://www.corpcam.com/WeBuyCars19052025. A copy of the presentation will also be available on the
Group's website: https://www.webuycars.co.za/investors/presentations.
Centurion
29 April 2025
Joint Sponsors to WeBuyCars
PSG Capital Pallidus Exchange Services
Date: 29-04-2025 07:05:00
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