Grindrod earnings buoyed by record Maputo port and terminal volumes

JSE-listed logistics and port terminals operator Grindrod has set itself new benchmarks for growth and operational excellence after delivering an “outstanding 2025 performance” with the Maputo Port seeing record volumes of 32 million tonnes per annum. The group says this performance was underpinned by the Matola terminal achieving a record 9.9 million tonnes per annum, which represents at 22% surge in volumes. The Maputo Port Development Company operated terminal also achieved record volumes of 15.2 million tonnes per annum.

For core operations (which includes port and terminals, logistics and group), headline earnings jumped 17% to R1.2 billion, it said in the release of its latest results for the year ended 31 December 2025 on Friday. Durban-based Grindrod reported a double-digit rise in revenue, up 12% to R5.5 billion in the period under review, compared to the same time last year. The print for headline earnings sits at 179.8 cents per share.

“Despite a rapidly shifting operating environment, Grindrod’s teams showed remarkable agility and discipline, ensuring the business not only navigated uncertainty but emerged stronger, more efficient, and positioned for sustained long‑term growth,” Grindrod CEO Kwazi Mabaso said in a webinar after the results announcement. Mabaso was appointed to the helm in December. These are his debut full-year results since coming into the company.

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He says Grindrod will continue to invest in infrastructure that supports long-term capacity, efficiency, and competitiveness while maintaining a disciplined capital allocation framework. In line with the performance, the company has declared a special and ordinary dividend of 68.2 cents per share arising from strong core performance and proceeds from the non-core exit.

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