WeBuyCars Holdings on Monday reported strong interim results for the six months ended March 2025, underpinned by aggressive expansion, record-breaking sales, and a continued push to solidify its position as South Africa’s leading second-hand vehicle retailer.

At the heart of the group’s strategy is its ambitious national expansion. In the reporting period, WeBuyCars added 10 new vehicle buying pods, bringing its national footprint to 93, and successfully launched or expanded several major retail “supermarket” sites.

These include the relocation of the Pietermaritzburg branch to a larger site and the opening of a new supermarket in Rustenburg — extending the group’s reach to the North West province.

Further major developments are in the pipeline. A flagship 30,400 sqm supermarket in Lansdowne, Cape Town, and a 17,450 sqm facility in Montana, Pretoria North – each with the capacity to house 1,300 vehicles – are both on track to open in December 2025.

Meanwhile, a Vereeniging supermarket, set to open in August 2025, will accommodate 550 vehicles, further expanding WeBuyCars’ high-volume, high-convenience model.

WeBuyCars noted that it now sells over 15,000 cars each month from its 17 supermarkets and 93 buying pods – peaking at an all-time monthly high of 16,294 units in November 2024.

The company’s expansion strategy is translating directly into financial success. Group revenue rose by 15.2% year-on-year to R13.13 billion. Vehicles bought and sold increased by 12.9% and 13.5% respectively, with over 91,000 units sold — a company record.

Core headline earnings grew by 26.4% to R508.2 million, driven by higher unit volumes, improved margins, and greater operational efficiencies.

Basic and headline earnings per share came in at 121.5 and 121.8 cents, respectively — both reflecting a significant turnaround from losses reported in the prior period.

The group’s cash generation remains strong, with R284.1 million in net operating cash flow for the six months, up 6.4%. Net interest-bearing liabilities (excluding IFRS 16) stood at R1.33 billion, mostly tied to property mortgages and inventory financing — a reflection of the Group’s asset-backed growth strategy.

The Board declared a gross interim cash dividend of 30 cents per share – equal to 25% of headline earnings — in line with the company’s policy.

This represents the first interim dividend following WeBuyCars’ listing on the Johannesburg Stock Exchange in April 2024, following its unbundling from Transaction Capital.

Key Financial Highlights – Six Months to 31 March 2025

• Revenue: R13.13 billion (↑15.2%)
• Units Bought: 92,339 (↑12.9%)
• Units Sold: 91,392 (↑13.5%)
• Core Headline Earnings: R508.2 million (↑26.4%)
• Basic Earnings Per Share: 121.5 cents (vs. loss of 20.7 cents in 2024)
• Dividend Declared: 30 cents per share

Looking ahead, WeBuyCars said aims to scale operations further, with a medium-term target of buying and selling 23,000 vehicles per month by FY2028. Continued investments in infrastructure and digital capability — including its internal finance application system and advanced lead qualification tools — are expected to drive margin improvements and sales growth.