Welcome to the Gorilla Technology Group Inc. Fiscal Year 2025 Financial Results Conference Call. [Operator Instructions] The conference is being recorded [Operator Instructions].
Before we begin, we will read the forward-looking statement. Today’s call includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements reflect management’s current expectations and projections about future events and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially.
Forward-looking statements often include terms such as expects, believes, plans, anticipates, may, should and similar expressions. For a discussion of important factors that could affect Gorilla’s results, please refer to our filings with the SEC, including our most recent annual report on Form 20-F. Except as required by law, Gorilla undertakes no obligation to update or revise any forward-looking statements made on this call, whether as a result of new information, future events or otherwise.
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I would now like to turn the conference over to Jay Chandan Chairman and Chief Executive Officer; and Bruce Bower, Chief Financial Officer. Please go ahead.
Jayesh Chandan CEO & Executive Chairman
Thank you very much, Crystal. Thanks, everyone, and thanks for joining. I will keep it quick. If you want drama, the market’s already provided enough already today. So I will stick to the facts.
The Bidvest Group Limited (BDVSY) Q2 2026 Earnings Call March 2, 2026 5:00 AM EST
Company Participants
Ilze Roux – Investor Relation Officer Nompumelelo Madisa – CEO & Executive Director Mark Steyn – CFO & Executive Director
Presentation
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Operator
Good day, everyone, and welcome to The Bidvest Interim Results Presentation FY ’26. [Operator Instructions] Please note that this event is being recorded. I would now hand you over to Corporate Affairs Executive, Ilze Roux. Please go ahead, ma’am.
Ilze Roux Investor Relation Officer
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Thank you, Judith. Good morning and good afternoon, everyone. My name is Ilze Roux, the Corporate Affairs Executive, and I have the pleasure of welcoming you to this call today. Thank you for your interest in Bidvest. These results reflect resilience and our focus on operational excellence and cash generation. As is customary, Mpumi Madisa, Group CEO, will make some high-level remarks before Mark Steyn, our Group CFO, delve deeper into these income numbers. Mpumi will then follow with a detailed review of each division’s performance and close with a reflection of progress against our priorities and the outlook. There will be an opportunity to ask questions at the end of the session.
Without further delay, I hand over to Mpumi. Thank you.
Nompumelelo Madisa CEO & Executive Director
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Thank you very much, Ilze, and good morning or good afternoon, depending on which part of the world you’re joining us from. Thank you for joining us this morning. We are very pleased to present a resilient set of results for the first half year. Reflecting on progress made since the unbundling of Bidcorp in 2016, it’s really pleasing to note the portfolio realignment and the extent to which we have rebuilt our international footprint.
Our 130,000 employees are located in 14 countries across approximately 750 branch locations. Our client
The NFL’s frenetic free agency period is set to officially launch on Wednesday, March 11, 2026, at 4 p.m. ET, when the new league year begins and teams can sign unrestricted free agents and execute trades. But the real action starts earlier with the legal tampering window — the two-day negotiation period beginning Monday, March 9, at noon ET — where deals are often struck verbally, setting the stage for a whirlwind of roster changes across the league.
Deebo Samuel #19 of the San Francisco 49ers catches a pass against the Miami Dolphins during the second half of their NFL football game at Levi’s Stadium on October 11, 2020 in Santa Clara, California. Miami won the game 43-17.
With the franchise tag deadline having passed on Tuesday, March 3, teams have locked in or released key players, paving the way for one of the most anticipated offseasons in recent memory. Analysts describe the 2026 free agent class as deep rather than top-heavy, offering value at multiple positions despite lacking superstar headliners.
The legal tampering period, often mislabeled as “tampering” but fully permitted under NFL rules, allows clubs to contact and negotiate with certified agents of impending unrestricted free agents. No contracts can be executed until the official start on March 11, but reports of agreements flood in almost immediately after noon on March 9. This window typically sees the biggest names decide their futures within hours, reshaping contenders and rebuilding teams alike.
Key dates leading up to and during free agency include:
– March 9 (noon ET) to March 11 (3:59 p.m. ET): Legal negotiation window opens. Teams can discuss terms, but signings remain unofficial.
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– March 11 (4 p.m. ET): 2026 league year begins. Free agency signing period starts, trades become official, and all 2025 contracts expire.
The NFL’s official operations calendar confirms these timelines, with the league emphasizing that no prospective unrestricted free agent may sign until the 4 p.m. ET mark on March 11. Trading windows also activate at that time.
This year’s market features intriguing names across positions. Quarterback options include backups and veterans like Malik Willis (Packers), Daniel Jones (Colts) and even Aaron Rodgers (Steelers), though many teams prioritize stability through extensions or drafts. Running back Kenneth Walker III (Seahawks) headlines the position after a strong season, with reports indicating Seattle is unlikely to tag him again. Wide receiver Mike Evans, fresh off announcing his intent to play in 2026 and explore free agency after a storied tenure in Tampa Bay, draws significant interest.
Defensive standouts include edge rusher Trey Hendrickson (Bengals), projected for a high-value deal in tiered analyses from ESPN’s Field Yates and others. Interior offensive line help abounds, offering sensible fits for teams like the Detroit Lions seeking upgrades.
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Analysts note the class lacks elite options at some spots but provides capable starters and depth. ESPN’s Dan Graziano tiered defensive free agents into six categories, highlighting a solid group of edge rushers, linebackers and secondary pieces. NFL Network’s Gregg Rosenthal ranked the top 101 available players, calling the group “incredibly deep” despite consensus views of it being weaker at the top.
Several teams face tough decisions or potential losses. The reigning Super Bowl champion Seattle Seahawks could be hit hard, with Walker and other contributors testing the market. Other squads bracing for departures include those with aging rosters or cap constraints.
Projections abound for where top talents might land. ESPN’s latest piece matched one free agent signing to each of the 32 teams, suggesting realistic fits like Evans to the Buffalo Bills or tight end Isaiah Likely elsewhere. Trades are also in play, with analysts proposing moves involving notable names to address needs pre-free agency.
Cap space remains a critical factor. Teams with room to maneuver — often those who cleared dead money or restructured deals — are poised to be aggressive. The salary cap continues its upward trajectory, giving franchises flexibility to absorb big contracts.
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The combine buzz from late February carried over, with intel on free agent markets, trade talks and quarterback landscapes influencing early decisions. Some players sought deals post-combine, while others waited for the tag deadline.
As March 9 approaches, expect a surge in rumors, reported agreements and instant analysis. The period from March 9-11 often defines the offseason’s direction, with headlines declaring winners and losers before a single official signature.
Free agency remains one of the NFL’s most exciting periods, blending strategy, player empowerment and team-building drama. While the draft in late April garners attention, the moves made in early March frequently prove pivotal to 2026 success.
Fans and analysts will watch closely as the league year flips on March 11, turning speculation into reality and setting the stage for another competitive season.
With the NFL’s legal tampering window set to open Monday, March 9, at noon ET, and the new league year kicking off Wednesday, March 11, at 4 p.m. ET, trade speculation is heating up alongside free agency buzz. While signings dominate headlines, blockbuster trades often reshape rosters before free agents even put pen to paper, especially with the franchise tag deadline passed and teams maneuvering around cap space and needs.
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The 2026 offseason features intriguing trade candidates at quarterback, wide receiver, edge rusher and more, fueled by contract situations, team resets and contender pushes. Analysts from ESPN, NFL.com, CBS Sports and others highlight players like A.J. Brown, Maxx Crosby and Kyler Murray as prime movers. Here are 10 trades generating the most chatter and why they could materialize in the coming days or weeks:
1. A.J. Brown, WR, Philadelphia Eagles to Buffalo Bills. Brown’s name tops many lists after reports of potential Eagles’ willingness to move him amid coordinator changes and cap considerations. The Bills, eyeing a Super Bowl push with Josh Allen, could offer significant draft capital for the proven playmaker. NFL.com suggested this as one of two trades that “should happen,” noting Buffalo’s urgency to go all-in.
2. Maxx Crosby, EDGE, Las Vegas Raiders to Detroit Lions. Crosby’s trade front has quieted somewhat per ESPN’s Jeremy Fowler, but his elite pass-rush ability makes him a perennial target. The Lions, building a dominant defense, could pursue him to bolster their edge rotation. Bleacher Report and others floated Crosby-to-Detroit hypotheticals, with the Raiders potentially seeking high picks amid a rebuild.
3. Kyler Murray, QB, Arizona Cardinals to Minnesota Vikings. Murray’s future remains uncertain after injury-limited play and coach Jonathan Gannon’s preference for Jacoby Brissett as QB1. The Vikings, seeking a veteran bridge or starter, could offer a Day 2 pick or package. NBC Sports and ESPN combine buzz listed this as a realistic fit, with Minnesota needing QB stability post-Sam Darnold era.
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4. Mac Jones, QB, San Francisco 49ers to Miami Dolphins. Jones, a former first-rounder now in a backup role, could fetch interest from cap-strapped teams like Miami looking for affordable QB depth with extension potential. NBC Sports highlighted Dolphins as a suitor, noting his low 2026 cap hit makes him attractive for teams planning extensions.
5. Trey Hendrickson, EDGE, Cincinnati Bengals to a contender (e.g., Rams or Chargers). Hendrickson requested a trade last year but stayed; now a free agent-to-be, a pre-free agency move could maximize value. ESPN tiers and combine intel point to high demand for his sack production despite age/injury concerns. The Rams, with cap flexibility and Super Bowl aspirations, emerge as logical landing spots.
6. De’Von Achane, RB, Miami Dolphins to a running back-needy team (e.g., Broncos or Bengals). ESPN ranked Achane among the top 15 trade candidates for his explosive speed. Miami’s backfield depth could prompt a deal for draft assets, with rebuilding teams like Denver seeking dynamic playmakers.
7. Brian Thomas Jr., WR, Jacksonville Jaguars to an AFC contender. As ESPN’s No. 1 trade candidate, the young receiver’s upside draws interest despite Jacksonville’s investments. A trade could net high picks if the Jaguars pivot, with teams like the Bills or Ravens in the mix for WR upgrades.
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8. DJ Moore, WR, Chicago Bears to Buffalo Bills or AFC West team. Barnwell’s ESPN proposals floated Moore westward, but Buffalo remains a fit for explosive talent alongside Stefon Diggs remnants or new additions. Chicago’s cap and roster decisions could force movement.
9. Jermaine Johnson, EDGE, New York Jets to Tennessee Titans (or reverse). A rare one-for-one trade involving Johnson and Titans’ Tvondre Sweat was noted in combine buzz, signaling EDGE movement. The Jets’ rebuild could see more defensive pieces shipped for picks.
10. Matthew Stafford-related package or veteran QB moves impacting draft trades. With Stafford’s future in question, Rams GM Les Snead’s history of bold moves — like past Stafford acquisition — could involve trading up/down or bundling vets. Bleacher Report hypotheticals included Raiders trading No. 1 overall or Crosby, shaking free agency and draft dynamics.
These potential deals highlight the fluid nature of the offseason: trades often precede or coincide with free agency to clear cap room, acquire assets or fill holes before March 11 signings explode. Teams like the Seahawks (Super Bowl champs facing cap hits on extensions for Jaxon Smith-Njigba and Devon Witherspoon), Jets (ample picks and cap) and Patriots (post-Super Bowl adjustments) could drive activity.
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Cap space leaders and draft-rich squads hold leverage, but contenders rarely wait. As tampering opens, verbal agreements could spark chain reactions, with trades becoming official March 11.
The league’s emphasis on quarterback stability, defensive fronts and explosive weapons ensures these 10 scenarios — and others — will dominate discussions. Fans should brace for surprises as GMs wheel and deal to reshape 2026 rosters.
Australian shares have tumbled as the deepening Middle East conflict heightens fears around spiralling energy costs and increasingly likely interest rate hikes.