The Daily Update: 23 February

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

South Africa

Sasfin Holdings Limited- Trading statement

• EPS is expected to be between 209.54 cents and 231.59 cents per share, representing an increase of between 19.56% and 32.15%.

Momentum Metropolitan Life Limited- Trading statement

• EPS is expected to be between 167 cents and 176 cents, representing an increase of between 242% and 260%.

Distell Group Holdings Limited- Unaudited Group results for the six months ended 31 December 2022

• Group revenue increased by 15.9%, and volumes increased by 10.3%.
• Domestic revenue and volumes increased by 13.6% and 9.7%, respectively, driven by premium cider and RTD growth.
• Africa revenue increased by 21.5% alongside volume growth of 6.8% led by ciders and RTDs across key regions.
• International revenue increased by 25.6% on 39.2% higher volumes, driven by Scotch whisky performance.
• Excise duty increased by 9.5% to R6.1 billion.
• The Group reported moderate profitability gains despite forex headwinds, commodity and energy cost increases, phasing of imported bottle costs, and ongoing supply chain challenges.
• EBITDA increased by 0.6% reported, and 5.4% normalized and adjusted for forex.
• Headline earnings increased by 3.0% reported, and 8.3% normalized and adjusted for forex.

Discovery Limited- Summary of unaudited group results for the six months ended 31 December 2022

• Normalised profit from operations grew by 22% to R5 930 million.
• Profit from operations fell by 2% to R5 098 million.
• EPS fell by 11% to 443.1 cents.
• Dividend coverage ratio set at 4 to 5 times coverage and derived from the organic build model.
• COVID-19 pandemic led to a conservative approach to capital management, with the dividend suspended and financial leverage reduced.
• Spend on new initiatives increased to over 20% of operating profit, most notably on the build of Discovery Bank.

Anglo American PLC- Summarised Preliminary Financial Results for the Year ended 31 December 2022 and Notice of Dividend

• Underlying EBITDA of $14.5 billion.
• Profit attributable to equity shareholders of $4.5 billion.
• Net debt of $6.9 billion.
• Basic headline earnings per share of $4.98 compared to $7.00 in the prior year
• Quellaveco copper operation ramping up
• Woodsmith project was impaired by $1.7 billion due to extended development schedule and budget.
• Revenue of $35.118 million.
• The final dividend per share is in line with the company's 40% payout policy.

Mondi plc- Full year results for the year ended 31 December 2022

• Strong financial performance from continuing operations, with underlying EBITDA of EUR1.848 million, up 60%, profit before tax of EUR1.560 million, up 119%, and cash generated from operations of EUR1.292 million, up 29%.
• The company's EUR1 billion expansionary capital investment pipeline is on track to deliver growth across its packaging businesses.
• The sale of the Personal Care Components business was completed, and the sale of Russian assets is ongoing.
• A recommended full-year dividend of 70.0 euro cents per share, up 8%, was announced.
• The company's unique platform, cash generation, and strong balance sheet positions it to meet growing customer demand for sustainable packaging and invest in strengthening its market positions.

Harmony Gold Mining Company Limited- Trading statement and operating update

• Basic EPS is expected to be between 273 and 318 cents per share, representing an increase of between 20% and 40% higher than the comparable period.

The U.S.

Nvidia Earnings

• EPS of $0.88 beating expectations of $0.80.
• Revenue of $6.05B beating expectations of $6.02B.

Apple

• Apple has for the first time tapped a Chinese supplier to help develop its upcoming augmented reality devices.
• Luxshare has taken over the AR development team in Shanghai that was previously owned by Taiwan's Pegatron.

Wells Fargo

• Wells Fargo laid off more than 500 employees in its mortgage unit this week.

eBay Earnings

• EPS of $1.07 beating expectations of $1.06.
• Revenue of $2.51B beating expectations of $2.46B.

Alibaba Earnings

• EPS of $2.79 beating expectations of $2.37.
• Revenue of $35.92B beating expectations of $35.8B.

Moderna Earnings

• GAAP EPS of $3.61 missing expectations of $4.75.
• Revenue of $5.1B beating expectations of $5.02B.