Remgro released its financial results for the year ended 30 June 2021, which showed headline earnings increase by 66.1% from R1.737 billion to R2.885 billion over the last year.
This increase is mainly due to the recovery of most of Remgro’s underlying investee companies, notably RCL Foods, Distell, TotalEnergies, and RMI.
Commenting on the challenges posed by the Covid-19 pandemic, Remgro said it continues to adapt to the changing markets, as it has successfully done over its 73-year history.
To fully understand this statement, one has to go back to the 1940s when Remgro Chairman Johann Rupert father, Anton Rupert, established the tobacco company Voorbrand.
Voorbrand was the forerunner of Rembrandt, a South African cigarette and tobacco company that entered the market in 1948.
Rembrandt was listed on the Johannesburg Stock Exchange (JSE) in 1956, and since the 1970s the company rapidly expanded its interests.
The company diversified from tobacco and alcohol through investments in banking, financial services, mining, printing and packaging, medical services, engineering, and food.
In 2000, Rembrandt was restructured to form Remgro and VenFin.
Remgro represented Rembrandt’s established tobacco, financial services, mining and industrial interests. VenFin, in turn, housed the telecommunication and technology interests.
In November 2009, Remgro and VenFin merged, adding media and technology interests to Remgro’s investments.
Today Remgro has interests in numerous South African companies in banking, financial, healthcare, freight, food, entertainment, and telecommunications.
With a market cap of R68 billion, Remgro is one of South Africa’s most valuable companies.
Johann Rupert continues to serve as chairman of the company.
How Remgro makes its money
Remgro’s latest financial results reveal how much money Remgro made from each of the companies it has a share in over the last year.
The list below shows these earnings and the prominent brands which form part of these companies.