The Daily Update: 19 June

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

South Africa

Omnia Holdings Limited- Audited results for the year ended 31 March 2023

• Progress was made on international expansion.
• Revenue increased by 24% to R26,572 million
• Operating profit increased by 19% to R1,899 million.
• Headline earnings per share increased by 10% to 742 cents.
• An ordinary dividend of 375 cents was declared, representing a 36% increase.
• Net cash decreased by 23% to R1,818 million.
• Net asset value increased by 2% to R10,255 million.
• The board approved a general repurchase of up to 10% of the shares in issue, pending shareholder approval.
• Segmental highlights include strong performance in the Agriculture segment, with revenue increasing by 31% to R14,694 million and operating profit increasing by 2% to R1,248 million.
• The Mining segment saw revenue increase by 28% to R8,533 million, and operating profit increased by 54% to R790 million, despite various challenges.
• The Chemicals segment experienced a decrease in revenue by 8% to R2,746 million, and operating profit decreased by 7% to R132 million due to headwinds in the manufacturing sector.

Stor-Age Property REIT Limited- Results for the year ended 31 March 2023

• Rental income and net property operating income increased by 17.3% and 15.3% respectively.
• Same-store rental income increased by 9.8% in South Africa and 8.9% in the UK.
• Portfolio occupancy increased by 21,200m (19,200m in SA and 2,000m in the UK).
• Record high same-store closing occupancy of 92.2% in SA and 85.4% in the UK.
• Achieved rental rate growth of 7.6% in SA and 8.0% in the UK.
• Net investment property value increased by 12.2% to R10.4 billion.
• Loan-to-value ratio of 30.8% with over 83% of net debt subject to hedging.
• Commenced trading of two joint venture developments shortly after the year-end (Bath in the UK and Morningside in SA).
• Six developments scheduled for completion in FY24 (3 in SA and 3 in the UK).
• Entered into a joint venture with Nuveen Real Estate and acquired the four-property Easistore portfolio in the UK.
• Net tangible asset value per share increased by 8.3% to 1,483.02 cents.
• EPS decreased by 34.0% to 152.67 cents.
• Dividend per share increased by 5.6% to 118.14 cents.
• Final dividend declared at 58.09 cents per share.

Purple Group

• EasyEquities is launching in the Philippines with their partner, GCash, with over 76 million users.

The U.S.

Intel

• Intel has agreed in principle to build a $25 billion manufacturing plant in Israel in what Prime Minister Benjamin Netanyahu hailed as the largest-ever foreign investment in the country.

US Debt

• The US national debt just surpassed $32 Trillion for the first time ever.

Adobe Earnings

• EPS of $3.91 beating expectations of $3.79.
• Revenue of $4.82B beating expectations of $4.43B.

Volkswagen

• Volkswagen and a technology partner said today they've mastered a battery manufacturing process called dry coating which if scaled up could cut the cost of cell production by hundreds of millions of euros a year.