Our investment case

Dis-Chem offers a compelling case for investors seeking equity exposure into South Africa’s retail market and more specifically the healthcare sector.

Medium term targets


  • Working Capital Days 2018-2023 Target (40-45)

  • Gross margin(%) 2018-2023 Target (24.0-25.0)

  • Dividend pay-out ratio(%) 2018-2023 Target (40-50)

  • New store capex(m²) 2018-2023 Target (Inflation adjusted)
  • EBITDA(%) 2018-2023 Target (7.0-8.0)
  • Operating margin(%) 2018-2023 (6.0-7.0)