Curiosity often surrounds the compensation packages of top executives, particularly in publicly traded companies. In this context, Balwin Properties, a prominent player listed on the Johannesburg Stock Exchange (JSE), is no exception.
At the helm of this successful property group is Steve Brookes, the company’s CEO and founder.
Understanding the financial remuneration of such a key figure can provide valuable insights into the company’s priorities and financial health.
So, just how much is Balwin Properties paying Brookes?
Today, the company published its 2024 annual report that disclosed the salaries of the company’s executives.
The company revealed that Brrokes was paid R11.7 million in 2024 financial year versus R16.1 million in 2023.
He also owns more than 171 million indirect shares in the company, representing a 33.07% shareholding.
Founded in 1996 by Brookes, the current CEO and largest shareholder, Balwin completed its first sectional title development later that year in Johannesburg South. The first large-scale estate development was undertaken in 2007 in Johannesburg east, with the business expanding into the Western Cape.
The group recorded total comprehensive income for the year ended 29 February 2024 of R218.8 million versus R436.9 million in 2023.
It also declared a dividend of R73.2 million was paid during the 2024 financial year versus R121.5 million in 2023.
Also read: How Many Balwin Properties Have Fibre Connectivity?
Balwin, a national specialist in developing large-scale sectional title estates for South Africa’s growing low-to-middle income population, continues to equip its apartments with fibre connectivity.
These apartments are designed to appeal to a diverse range of home buyers, including first-time buyers, young professionals, young families, older families, retirees, and buy-to-let investors.
Each apartment features modern fitted kitchens, prepaid water and solar-assisted electricity, eco-friendly fittings and appliances, and is fibre-enabled.
Balwin generates annuity income through its subsidiary, Balwin Fibre, which provides high-speed fibre connectivity to homeowners within its estates.
Today, Balwin announced that continued growth of the Balwin Fibre annuity business with a total client base of 9 324 subscribers representing 72% of total homes installed. A further 1 649 homes were installed in the period with a total of 12 926 homes installed to date.
