Avior Capital Markets - Super Group Ltd. (10CW) Supergroup | Acquisition augmented growth

Report

Avior Capital Markets

Supergroup | Acquisition augmented growth

Peter Mountford (CEO) guided Supergroup (SPG) from the brink of bankruptcy in 2009 to an internationalised industrial group with R25bn in assets under management. Earnings accretive acquisitions and a focus on its key competencies have enabled this growth. Over the medium-term, we believe SPG should continue to deliver real earnings growth in the geographies it operates as it exploits its scale and market position. A conservative level of gearing puts it in good stead to continue making earnings accretive acquisitions.

07/02/2018 26 EN

Underlying

Super Group Ltd.

Super Group is a holding company engaged in the supply chain management business. Co.'s divisions include: supply chain, which is comprised of transportation, international and local customized supply chain technologies, customer brokerage and forwarding, African logistics, and warehousing and distribution; fleet solutions, which is comprised of SG fleet, a fleet services provider in Australia with operations in New Zealand and the U.K., and Fleet Africa, which is engaged in fleet solutions within southern Africa; and dealerships, which is comprised of: SA dealerships, which consists of 45 franchised dealerships, and U.K. dealerships, which consist of GWM distribution, and ALEN FORD (U.K.).

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ZAE000161832 Johannesburg Stock Exchange South Africa

Provider

Avior Capital Markets

Avior is a globally recognised capital markets research and trading firm, with the broadest research coverage within the region, with 100+ SA and 20+ SSA companies under coverage. Avior services clients from offices in London, Cape Town and Johannesburg.

Our research quality is consistently recognised in local and global surveys, with 18 analysts currently rated in their respective sectors (FM 2017). Value add through in-depth, innovative, high quality and consistent research with comprehensive underlying fundamental modelling supported by regular analyst and roadshow interactions.

Avior has proven that by working closely with our clients we can mutually develop dominant positions in certain sectors, going from strength to strength. Avior has a dedicated ESG team, having been ranked #1 in Corporate Governance research since 2008.

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