The Daily Update: 14 August

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

South Africa

Exxaro Resources Limited

• HEPS expected to decrease by 23% to 37% compared to the same period in 2022.
• Reasons for the decrease in earnings includes Lower coal sales prices and volumes at own managed operations, ongoing logistical challenges impacting earnings, and negative impact on income from equity-accounted investments due to lower prices.

Sasol Limited

• Basic EPS expected to decrease by 74% to 84%.
• HEPS expected to improve by 4% to 18%.
• Operation challenges such as weaker global economic growth, higher inflation, depressed chemicals prices, higher feedstock and energy costs.
• Softening of Brent crude oil price and refining margins offset by weaker Rand/US Dollar exchange rate.

Northam Platinum Holdings Limited

• 16.1% increase in sales revenue to R39.5 billion.
• 3.8% increase in gross profit to R15.4 billion.
• Expected 2.5% - 12.5% decrease in HEPS.
• Expected 70.0% - 80.0% decrease in basic EPS due to impairments.
• During the period, Northam sold its stake in Royal Bafokeng Platinum for R9 billion in cash.

ABSA Group Limited

• Total income increased by 12.8% to R52,354 million.
• HEPS increased by 2.7% to 1,321.3 cents.
• Return on equity decreased to 16.7%.
• Cost-to-income ratio decreased to 49.8%.
• Net interest margin increased to 4.61%.
• Dividend per ordinary share increased by 5.4% to 685 cents.
• Gross loans and advances increased by 8.0% to R1,299.6 billion.
• Deposits increased by 9.1% to R1,323.7 billion.
• Liquidity coverage ratio at 140.8%.

Italtile Limited

• EPS and HEPS is expected to decrease by between 11% and 16%.
• Retail brands: Italtile Retail, CTM, TopT, and U-Light.
• Retail net sales declined despite 6.7% price inflation.

MTN Group Limited

• Group service revenue increased by 16.5% to R107.7 billion.
• EBITDA (before once-off items) grew by 12.0% to R49.4 billion.
• Profit before tax (PBT) decreased by 1.4% (increased by 6.1%*) to R18.3 billion.
• Basic earnings per share (EPS) increased by 14.8% to 511 cents.
• Total subscribers increased by 3.6% to 291.7 million.
• Data traffic and fintech transaction volumes up by 18.5% and 37.3% respectively.

The U.S.

Tesla

• Tesla plan to build new 1st of its kind data centers. 
• Tesla is hiring staff for it and snapping up some existing data centers.

Coinbase

• Coinbase is accelerating its international expansion with official launch in Canada.

The Nasdaq 100

• The NASDAQ 100 fell for the 2nd week in a row.
• This is the first back to back red weeks so far in 2023.

Coca-Cola

• Coca-Cola has declared a quarterly dividend of $0.46 per share.