Grindrod Limited (Grindrod), a JSE-listed freight logistics company, is pleased to announce its interim results for the six months ended 30 June 2026.
Grindrod’s integrated logistics solutions strategy continues to translate into earnings quality, underpinned by hard-to-replicate infrastructure and disciplined capital allocation. The Group reported headline earnings of R593 million for the first six months and a 52% increase in EBITDA to R884 million from prior period driven by the strong performance of the Port and Terminals segment.
The Port of Maputo handled a record of 8.4 million tonnes, a 29% increase from the prior period, driven by strong demand for chrome exports and improved terminal efficiencies. Drybulk terminals volumes increased by 2% to 8.1 million tonnes, this was due to record breaking performance at Richards Bay’s Navitrade facility and Durban’s Multi-purpose terminal. Grindrod’s drybulk terminal in Matola (TCM) handled 4.2 million tonnes, 7% below the prior period, reflecting early-year weather disruption and elevated freight costs. Logistics delivered a mixed result, as well as the rail performance being impacted by reduced locomotive deployment.
Safety remains our number one priority. Our Lost Time Injury Frequency Rate (LTIFR) improved to 0.16, well below the 2025 rate of 0.27 and our target of 0.40. While this represents meaningful progress, we remain focused on our goal of zero harm. The Group recorded a fatality in June 2026, following which investigations were completed and additional controls implemented to strengthen safety across our operations.
Commenting on the interim results, Kwazi Mabaso, Group CEO of Grindrod Limited said; “The first half underscored the strength of our strategy, the resilience of our asset base and the quality of the growth opportunities ahead. Grindrod delivered resilient volumes, stronger earnings and robust cash generation, reflecting momentum that is tangible, measurable and focused on sustainable value creation. We remain disciplined in our execution today as we build a stronger Grindrod for tomorrow”.
Looking ahead, Grindrod expects locomotive re-deployment to accelerate in the second half of the year, while preparations continue for the commencement of Open Access rail operations in early 2027. The Group’s strategic infrastructure projects, including the Matola terminal expansion, the Port of Maputo dredging project and the development of the Richards Bay container handling facility, remain on track and are expected to support terminal growth and strengthen the Group’s integrated logistics offering.