End of 2024 Message from Andre Coetzee

2024 has been another superb year for Henley Group Holdings. We have witnessed significant growth in virtually all facets of our respective business units, for which we are immensely grateful and exceedingly proud of. Despite the positive return and optimistic lookout for 2025, we remain particularly humble and mindful of the antithesis that can so easily beset us all. This notion serves to remind me of a preposterous business decision we took many years ago at the time of establishing Henley Air in 1998.

The relentless pursuit of greater market share drove our fledgling business, consisting of a single Bell JetRanger, to track virtually every possible existing lead in the hope of making inroads. The barriers to entry proved to be acutely high and most of the prevailing potential clients elected to support their unwavering current helicopter service providers – despite our best efforts and ridiculously low hourly rates. As a very small and timid charter operator, we found the return on emotional and monetary investment highly disconcerting, and often had to take stock of how we were going to survive in such a competitive operating environment with only one helicopter and deep-rooted passion to prove our worth. At that point we couldn’t even claim a slice of the proverbial pie, as we were at best reduced to a mere sniff of a market share beyond our hangar doors! This level of adversity proved to be a game changer for us when we least expected it.

Instead of feverishly chasing a larger slice of this mystical pie, we decided to start our own bakery.

In pursuing previously un-explored business opportunities and employing a different way of thinking and approaching new clients, we were able to establish alternative revenue streams that didn’t exist at the time. In fact, we ultimately found that raising our hourly rates improved our standing in the industry and drastically responded to our bottom line. By owning the bakery, we were able to present a greater variety of value-added offerings to prospective clients, at rates that suited all parties and by delivering an on-time and refreshingly different service. This was by no means achieved by an opportunity and sheer luck alone, but rather through Faith and a deep belief in what we perceived to be a unique competing space.

As is customary every year, I continue to extend my personal thanks to all our staff members that have contributed to making 2024 a safe and prosperous year. Your individual and collective involvement has been significant and well appreciated.  We have all experienced numerous highlights throughout the year and hope to build on this in 2025. May we all persist in the quest of our stated Group virtues of Excellence, Reliability, SAFETY, Care and Sustainability.

Have a blessed Christmas and happy new year. And remember our bakery when you enjoy your Mince Pies!

André

Group Executive Chairman, Henley Group Holdings