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The Daily Update: 1 August

March 1, 2024
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FinMeUp
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FinMeUp

The latest updates from the JSE and NYSE over the past 24 hours.

 

South Africa

Aspen Pharmacare Holdings Limited

  • Aspen Holdings' wholly owned subsidiary, Aspen Global Incorporated (AGI), will acquire the commercialization rights and related intellectual property for a portfolio of branded products in Latin America from Viatris Inc. for USD 280 million.
  • The consideration for the acquisition includes a cash payment of USD 150 million and an extension of supply terms to Viatris.
  • The key products in the portfolio are Lipitor, Viagra, Lyrica, Zoloft, Norvasc, and Celebrex.
  • The Products generated approximately USD 92 million in sales in the year ended 31 December 2022.

Sibanye Stillwater

  • Sibanye-Stillwater advises stakeholders of an incident at its Kloof 4 (Ikamva) shaft in South Africa, which occurred on 30 July 2023 during a standard safety trial run of the conveyance system.
  • Infrastructure damage occurred when the ascending counterweight to the conveyance encountered an unknown obstruction in the shaft, causing several ballast plates to fall down the shaft.
  • Access to underground levels between 39 and 46 levels has been restricted as a result of the incident.
  • The incident happened between shifts, and all employees below 39 level were brought to the surface safely, without any reported injuries.
  • Operations at Kloof 4 shaft have been suspended while investigations are underway.
  • Kloof 4 shaft contributes about 14% of the annual gold production from the SA gold operations (excluding DRDGOLD).
  • The shaft produces an average of approximately 9,650 oz (300 kg) of gold per month or 115,743 oz (3,600 kg) annually.

Royal Bafokeng Platinum Limited

  • EBITDA decreased by 85.1% to R507.4 million (compared to H1 2022: R3,406.1 million).
  • Revenue declined by 29.0% to R5,805.4 million (compared to H1 2022: R8,173.4 million).
  • Loss per share of 117.0 cents (compared to H1 2022: earnings per share of 765.4 cents).
  • Net cash position of R4,538.4 million (compared to H1 2022: R4,883.8 million).
  • Capital expenditure for the period amounted to R731 million (compared to H1 2022: R820 million).
  • The operating environment was challenging due to a decline in the basket price and inflationary pressure on operating costs.
  • Weakening rand against the US dollar contributed to higher inflation and cost pressures.

Anglogold Ashanti Limited

  • EPS is expected to decline by between 82% and 92%.

 

The U.S.

Nio

  • Nio delivered 20,462 vehicles in July up 103.6% YoY and up 91% MoM.

LI Auto

  • Li Auto delivered 34,134 vehicles in July up 227.5% YoY and up 5% MoM.

XPeng

  • Xpeng delivered 11,008 vehicles in July down 4.5% YoY but up 28% MoM.

Uber

  • Uber CEO "We plan to be profitable every quarter going forward".
  • EPS of $0.18 beating expectations of $0.14.
  • Revenue of $9.2B missing expectations of $9.34B.

Pfizer earnings

  • EPS of $0.67 beating expectations of $0.58.
  • Revenue of $12.7B missing expectations of $13.4B.

 


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