Omnia Holdings lifted operating profit by 26% to R1 135 million for the six months ended 30 September 2026, on revenue that grew only 2% to R11 410 million, according to the company’s unaudited results published on the JSE’s Stock Exchange News Service (SENS) on Monday 9 November. The figures are unaudited and the company calls the SENS text a short-form summary of the full HY27 results, which are on Omnia’s investor page.
The numbers Omnia reported
Omnia says earnings per share rose 31% to 428 cents (HY26: 326 cents) and headline earnings per share (HEPS) rose 25% to 399 cents (HY26: 320 cents). The operating margin widened to 9.9% from 8.0%, and EBITDA, a non-IFRS measure that excludes impairments of R6 million, increased 21% to R1 434 million (HY26: R1 184 million). Return on equity improved to 15.0% from 12.3%, and net asset value rose to R10 108 million (HY26: R9 763 million).
The balance sheet shows a trade-off. Net working capital grew to R4 542 million from R3 769 million a year earlier, while the net cash position, which Omnia states excludes lease liabilities, narrowed to R366 million from R695 million.
Agriculture: higher prices offset lower volumes
The agriculture segment, Omnia’s largest by revenue, saw revenue fall 4% to R5 441 million while operating profit rose 13% to R517 million. Omnia attributes this to higher average selling prices, which it links to the impact of the Middle East conflict on commodity input prices, and to better manufacturing contributions, despite lower volumes and global supply disruptions.
In South Africa, the company says farmers deferred purchasing decisions amid softer grain prices, elevated input costs and weather uncertainty, yet agriculture RSA still delivered higher operating profit and margin. In the Rest of Africa, Omnia reports revenue and profit growth led by Zambia. International results were mixed: stronger domestic volumes in Australia, but what the company describes as liquidity and credit challenges in Brazil.
The outlook is cautious. Omnia says softer crop prices, elevated input costs and the prospect of drier El Nino conditions may weigh on demand and margins for the rest of FY27. That lines up with what we have reported on the farm economy, including the forecast fall in 2027 maize plantings and the El Nino build-up ahead of the planting season.
Mining: volumes and new contracts
Mining revenue rose 11% to R5 355 million and operating profit rose 15% to R655 million, at a margin of 12.2%. Omnia credits higher volumes in South Africa and Namibia, new contract wins and extensions, and cost containment.
Internationally, mining revenue rose marginally but operating profit fell, which Omnia attributes to disruptions in West Africa, infrastructure development in Canada and Australia, and a weaker metallurgy business. In Indonesia, the company reports volume growth and its first underground contract, despite government-imposed production quotas.
Chemicals: smaller, leaner and still being sold down
Chemicals revenue fell 14% to R614 million, but operating profit more than doubled to R97 million, helped, the company says, by a streamlined cost base, stronger Water Care margins and gains from asset disposals. Omnia says demand stayed subdued across manufacturing, coatings and certain municipal markets. It expects conditions to remain challenging and says it will prioritise completing outstanding non-core disposals, including the Water Care business.
The SARS dispute and the Solar Industries deal
Omnia says it continues to dispute additional assessments raised by the South African Revenue Service after a transfer pricing audit covering the 2014 to 2016 years of assessment. The company terminated Alternative Dispute Resolution proceedings on 3 August 2026 because it could not reach what it calls an equitable resolution. It says it is pursuing the Mutual Agreement Procedure, remains open to a negotiated settlement and is keeping the option of litigation open.
The results also refer to shareholder support for the proposed transaction with Solar Industries, which chief executive Seelan Gobalsamy calls a significant milestone. We covered the offer when it was announced in our report on Solar Industries’ plan to acquire Omnia. The SENS text does not give a closing date for the deal.
What it means for businesses
For farmers and miners who buy fertiliser, explosives and chemicals, Omnia’s own commentary is the useful part: it says higher selling prices reflected Middle East-linked input costs and that supply disruptions affected product availability in parts of its business. Customers negotiating supply contracts for the coming season should expect suppliers to point to the same pressures. For lenders and suppliers watching Omnia, the rise in net working capital and the drop in net cash are worth noting alongside the improved margin.
What is not yet known
The SENS announcement is an unaudited summary. It gives no interim dividend figure in the text we read, no timetable for completing the Solar Industries transaction, and no estimate of what the SARS assessments could cost if Omnia loses the dispute. Readers who need those details should consult the full HY27 results.
