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Standard & Poor’s revises rating of Super Group from zaA to zaA+

Dec 19 2014

​Super Group is pleased to announce that Standard & Poor’s have revised Super Group’s long-term national scale rating from zaA to zaA+ and assigned a new short-term national scale rating of zaA-1. 

The upgrade reflects the better-than-anticipated performance of Super Group in financial year 2014 and so far in financial year 2015. This has meant that the company’s financial ratios are now stronger than previously forecast. Standard & Poor’s have revised its assessment of the financial risk profile of Super Group to “modest” from “intermediate”. 

Revenue increased by 22% to South African rand (ZAR) 14,296 million in the year ending June 30, 2014. This was mainly a result of new contract wins in the supply chain division in South Africa, strong performance in its African logistics business, and better-than-expected sales in its vehicle dealership business unit. At the same time, the company’s Standard & Poor’s-adjusted EBITDA margin was better than expected at around 15%, compared with 14.4% the year before. Super Group’s profitability measures are somewhat stronger than its rated European logistics services peers. 

See below for the full press release from Standard & Poor’s.