Home » South African billionaire Saltzman family’s Dis-Chem sees earnings top $73 million

South African billionaire Saltzman family’s Dis-Chem sees earnings top $73 million

by Omokolade Ajayi
Ivan Saltzman

Key Points:

  • Dis-Chem’s full-year revenue surged 11.1 percent to R36.3 billion ($1.92 billion) fueled by 13.3 percent growth in wholesale and 9.7 percent growth in retail revenue.
  • Dis-Chem’s 2024 earnings reached R1.39 billion ($73.34 million) helped by a 22 percent increase in earnings before tax in the year’s second half.
  • The company has declared a final dividend of R0.202($0.0107) per share or R174.7 million ($9.34 million)

Dis-Chem Pharmacies, one of Africa’s leading pharmaceutical retail groups founded by the South African billionaire Saltzman family, delivered an impressive financial performance at the end of its 2024 fiscal year, surpassing the $70-million earnings mark.

For the full year ended February 29, Dis-Chem recorded earnings of R1.39 billion ($73.34 million), up from R1.35 billion ($71.28 million) in the previous year. This 2.9 percent increase was bolstered by a 22 percent rise in earnings before tax in the year’s second half, driven by improved cost control measures, particularly in managing staff costs.

The group achieved an 11.1 percent increase in full-year revenue, growing from R32.7 billion ($1.73 billion) to R36.3 billion ($1.92 billion). This growth was fueled by a 13.3 percent increase in wholesale revenue and a 9.7 percent rise in retail revenue, reflecting the addition of new retail stores and increased support from independent pharmacies and TLC franchise stores.

Dis-Chem stays strong post-COVID

Founded over four decades ago by Ivan and Lynette Saltzman, Dis-Chem Pharmacies has grown into one of South Africa’s leading retail healthcare groups. The Saltzman family holds a 35.1 percent stake in the company, valued at R9.97 billion ($529.23 million).

Despite the end of COVID-19 administration and testing services, which had previously been significant revenue drivers, Dis-Chem maintained strong performance. The group noted the impact of “base effects” from the prior year’s first half, which had benefited from the acquisition of warehouse properties, resulting in a one-off gain.

Expansion and dividend declaration

The healthcare group continues to expand, opening twelve new Dis-Chem pharmacies and three Baby City stores during the fiscal year. The integration of Baby City stores into Dis-Chem’s technology platforms was also successfully completed.

Accompanying its revenue growth, Dis-Chem reported a 27.6 percent increase in diluted headline earnings per share to R0.992 ($0.05288). The company declared a final dividend of R0.202 ($0.01069) per share, totaling R174.68 million ($9.34 million). This brings the total dividend for the year to R0.397 ($0.021372) per share, or R343.31 million ($18.34 million).

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