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The Daily Update: 21 February

April 16, 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

Sasol Limited- Interim Results Announcement for the six months ended 31 December 2022

  • Sasol's earnings for the period were mixed, with support from oil and refining tailwinds but offset by lower volumes and higher feedstock costs.
  • The Chemicals business was negatively impacted by global economic growth, disrupted supply chains, depressed chemical prices, and higher input costs.
  • Sasol's South African value chain was muted due to operational variability and lower productivity and coal quality in its Mining operations, leading to lower volumes for the six months.
  • Sasol's Earnings before interest and tax (EBIT) of R24,2 billion remained in line with the prior period, with a strong pricing environment offset by lower volumes and increasing input cost pressures.

Super Group Limited- Unaudited interim results for the six months ended 31 December 2021

  • Revenue increased by 34.6% to R29.12 billion.
  • EBITDA increased by 24.2% to R4.11 billion.
  • Operating profit increased by 26.1% to R2.00 billion.
  • Profit before taxation increased by 29.0% to R1.58 billion.
  • EPS increased by 31.6% to 250.3 cents.

City Lodge Holdings Limited- Trading statement

  • Basic and diluted EPS is expected to be between 16.0 cents and 17.8 cents, representing an increase of between 371% and 402%.

Adcock Ingram Holdings Limited- Unaudited interim results for the six months ended 31 December 2022 

  • Revenue grew by 8% to R4 676 411 000.
  • Gross profit grew by 8% to R1 640 236 000.
  • Trading profit grew by 15% to R623 462 000.
  • EPS grew by 20% to 289.9 cents per share.

Aveng Limited- Interim Condensed Consolidated Financial Statements for the six months ended 31 December 2022

  • Group revenue grew to R15 billion from R13 billion.
  • EPS fell from 43 cents to 38 cents per share.
  • Net cash position excluding IFRS 16 remained flat at R2.1 billion.
  • Net asset value per share increased to 2 980 cents per share from 2 873 cents per share.

Kumba Iron Ore

  • Kumba produced a resilient performance and strong high-grade iron-ore demand despite lower iron ore prices and operational challenges.
  • The average realised FOB export price of $113/wmt was 13% higher than the benchmark.
  • The company achieved an adjusted EBITDA of R37.3bn ($2.6bn) and headline earnings of R56.19/share, which will result in total shareholder dividends of R14.5bn for the year.

Sibanye Stillwater Limited- Trading statement and production update

  • EPS is expected to be between 618 cents and 683 cents per share, representing a decrease of between 40% and 46%.
  • Sibanye-Stillwater's production from SA PGM operations for 2022 was slightly below annual guidance due to ongoing load curtailment, copper theft, and safety-related stoppages.
  • The SA gold operations (excluding DRDGOLD) were suspended for three months during H1 2022 due to industrial action resulting in a 50% decline in production for 2022.
  • Production rates have been normalised during Q1 2023, and production for 2023 is expected to be significantly higher.

 

The U.S.

Tesla

  • Teslas Model 3 now sells for $4,930 less than the average new vehicle sold in the U.S.

Microsoft & Nintendo

  • Microsoft and Nintendo signed 10 year agreement to make Call of Duty available on Nintendo devices

Meta & Tencent

  • Meta is in talks with Tencent to start selling its Oculus VR headset in China.

Home Depot Earnings

  • EPS of $3.30 beating expectations of $3.27.
  • Revenue of $35.83B missing expectations of $35.9B.
  • Home Depot raised its quarterly dividend to $2.09 per share up 10% from its previous dividend of $1.90 per share.

Walmart Earnings

  • EPS of $1.71 beating expectations of $1.52.
  • Revenue of $164.1B beating expectations of $159.6B.
  • Walmart raised its quarterly dividend to $0.57 per share up from $0.56 per share.
  • Walmart sees its FY24 EPS coming in between $5.90-$6.05 below expectations of $6.50.

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