Imperial has announced its results for the half-year ending December 31, 2020. The results show a degree of resilience amid the pandemic as revenues increased by 15% to ZAR*26.4bn compared to H1-20, however, EBITDA fell by 2% to ZAR2.5bn as did operating profit by 18% to ZAR1.2bn. Revenue, EBITDA and operating profit figures exclude the discontinued European shipping business in the current and prior period, and CPG in the prior period.
Mohammed Akoojee, Imperial’s Group Chief Executive Officer, said, “In extraordinary and challenging trading conditions, exacerbated by the COVID-19 pandemic, Imperial increased revenue from continuing operations, generated strong free cash flow, maintained a strong balance sheet, stringently managed costs and recorded significant progress against its strategy. A strong recovery in volumes and profitability was recorded in the first half of 2021 compared to the second half of the financial year 2020. Imperial concluded acquisitions to the value of ZAR120m; the disposal of the European Shipping business for proceeds of ZAR3.4bn; and finalised the sale of Pharmed.”
The company has also announced it has acquired 60% of the e-commerce logistics business, ParcelNinja, effective from February 1, 2021.
ParcelNinja offers an outsourced warehousing and fulfilment business to South African online shops, using its custom-developed best-of-breed warehouse system and fulfilment network to ensure that clients benefit from scalable infrastructure and an innovative costing model.
ParcelNinja has been on a rapid growth trajectory since the company was started in 2014. Now picking and packing over 18,000 items for around 3,000 orders per day, the 6,100 sq m warehouse in Johannesburg hosts upwards of half a million items on behalf of online shops across South Africa.
“Imperial’s purpose is connecting Africa and the world and improving people’s lives with access to quality products and services,” said Akoojee. “Our digital strategy is a key enabler of our purpose, allowing us to build partnerships across our ecosystem, and to identify, pre-empt, integrate and own potentially disruptive technologies and businesses. Our digital strategy is both a driver of, and facilitated by, our ‘One Imperial’ strategy, and expanding our services into eCommerce, eFulfillment and digital freight exchanges is an important component of this strategic pillar. We are excited to welcome the ParcelNinja team on board and look forward to leveraging this partnership to expand our offering in both B2B and B2C channels for our clients and their customers.”
Source: Imperial
*ZAR=$0.07/€0.06
