Highlights of the day: 28 July

FinMeUp highlights of the day

South Africa

ArcelorMittal South Africa Limited- Reviewed condensed consolidated financial results for the six months ended 30 June 2022

• Revenue grew 19.3% to R22 176 million.
• Headline earnings grew 22% to R3 025 million.
• 61% lower net debt position of R1 087 million.
• EBITDA grew 12% to R3 591 million.
• 23% increase in realised dollar steel prices.
• Profit from operations grew 9.9% to R3 235 million.
• Net profit grew 36.4% to R3 072 million.
• HEPS grew 21.5%.

Karooooo Limited- Unaudited first quarter 2023 results

• Total revenue grew 28% to ZAR801 million.
• Subscription revenue grew 17% to ZAR709 million.
• SaaS Annualized Recurring Revenue grew 14% to ZAR2,851 million.
• Profit for the period increased 44% to ZAR156 million.
• Earnings per share grew 42% to R4.96.
• Cash generated from operating activities increased 17% to ZAR319 million.
• Subscribers grew 13% to 1,542,772 subscribers.
• Net subscriber additions of 16,800.

Afrimat

• Afrimat has successfully closed its Equity Raise of R680 million.
• This was implemented through an accelerated bookbuild announced yesterday and is approximately 8.5% of the companys current market cap.
• 13,372,665 new ordinary shares were placed at an issue price of R50.85.

Anglo American PLC- Summarised Interim Financial Results for the six months ended 30 June 2022 

• Revenue decreased 17% to $18,111 million.
• Underlying EBITDA decreased 28% to $8,701 million.
• Attributable free cash flow decreased 72% to $1,564 million.
• Basic EPS decreased 28% to $3.03.
• The board declared an interim dividend of $1.24 per share to be paid on Friday, 23 September 2022.

The U.S.

Meta earnings

• EPS of $2.46 missing expectations of $2.54.
• Revenue of $28.82B missing expectations of $28.93B.
• 3.65 billion people used a product owned by Meta on a monthly basis last quarter.
• That means about 47% of the world's population uses a Meta product each month.

Ford earnings

• EPS of $0.68 beating expectations of $0.45.
• Revenue of $40.20B beating expectations of $34.32B.

US GDP

• The Q2 GDP Advanced reading came in at -0.9% below median estimates of +0.4%.
• If this number holds through the 2 GDP revisions the US will have officially entered the technical definition of a recession.

Nancy Pelosi

• Nancy Pelosi has sold all 25,000 of her shares of Nvidia at an average price of $165.05 for a total loss of $341,365 according to CongressTrading.

Biggest winners and losers

JSE

• PSG Konsult +6.26%
• AB Inbev -6.74%

U.S

• Tesla +1.16%
• PayPal -2.24%

Crypto

• Bitcoin +6.7%
• Ethereum +9.1%
• BNB +3.5%