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South African retail tycoon Giovanni Ravazzotti is set to receive $41.65 million from a special cash dividend on his stake in Italtile Limited, the Gauteng-based retailer and manufacturer of bathroom and home products he founded nearly six decades ago.
Ravazzotti to collect largest payout
Italtile recently announced a special dividend of R1.3 billion ($73.71 million) for the full year ended June 30, 2025, drawn from the group’s retained earnings of R4.86 billion ($276.53 million). Set at R0.98 ($0.056) per share and payable on Sept. 15, the payout represents a 25.64 percent increase from the previous year, highlighting the company’s strong cash reserves and continued ability to reward shareholders.
Ravazzotti, who founded Italtile in 1969 and remains its chairman, owns a 56.46 percent stake in the company, roughly 746.24 million shares. As the largest shareholder, he will receive the bulk of the dividend, amounting to R731.28 million ($41.65 million).
Net profit rises despite lower sales
For the year ended June 30, Italtile recorded revenue of R8.88 billion ($504.57 million), down 2.07 percent from R9.06 billion ($515.28 million) a year earlier. Net profit rose 2.32 percent to R1.54 billion ($87.65 million) from R1.51 billion ($85.66 million).
Basic and diluted earnings per share increased 3 percent to R1.26 ($0.072), supported by disciplined cost management and steady contributions from associate companies. Trading profit remained steady at R2.06 billion ($117.06 million), while total comprehensive income attributable to shareholders climbed 2 percent to R1.47 billion ($83.55 million). Finance income grew to R125 million ($7.1 million), partly offsetting a drop in associate earnings.
Managing growth in tough markets
Despite its strong brands—including Italtile Retail, CTM, TopT, and U-Light—the company faces market challenges. Total assets fell slightly by 0.79 percent to R10.36 billion ($588.87 million), reflecting cautious conditions in the market.
Reduced operating costs by 2.8 percent and higher cash balances helped support net finance income. With low debt levels, strong cash flow, and careful capital management, Italtile continues to fund expansions and dividends, balancing shareholder returns with financial stability in a challenging market.
