The Daily Update: 25 July

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

South Africa

Anglo American Platinum Limited

• Dollar basket price per PGM ounce sold decreased by 29% compared to H1 2022.
• Rand basket price per PGM ounce sold decreased by 15% compared to H1 2022.
• Revenue decreased by 24% to R64.7 billion compared to H1 2022.
• Adjusted EBITDA decreased by 69% to R13.4 billion compared to H1 2022.
• Basic earnings per share decreased by 71% to R29.40 compared to H1 2022.
• Net cash decreased by 43% to R23.9 billion compared to H1 2022.
• Dividend per share decreased by 85% to R12.0 compared to H1 2022.
• Return on Capital Employed (ROCE) declined by 120 percentage points to 30% compared to H1 2022.

Kumba Iron Ore Limited

• Revenue decreased by 11% to Rand 38 279 million compared to the previous year.
• Basic earnings per share decreased by 17% to Rand 30.04.
• EBITDA margin of 52%.
• Closing net cash of R13.8 billion.
• Production increased by 6% to 18.8 million tonnes, with significant growth from Kolomela.
• Total sales decreased by 4% to 18.9 million tonnes.
• Interim cash dividend declared of R22.60 per share.

Reinet Investments SCA

• Reinet's net asset value is EUR 5,646 million, with a compound growth rate of 8.6% per annum in euro terms since March 2009, including dividends paid.
• Net asset value at 30 June 2023 decreased by EUR 74 million (1.3%) from EUR 5,720 million at 31 March 2023.

Impala Platinum Holdings

• Implats made a mandatory offer to Royal Bafokeng Platinum Limited (RBPlat) shareholders for their issued ordinary shares.
• The Offer closed on 21 July 2023, with RBPlat shareholders accepting the Offer for 121,437,384 RBPlat Shares, which represents approximately 96.21% of the RBPlat Shares other than those held by Implats before the Offer.
• As a result, Implats now holds approximately 98.35% of RBPlat's issued ordinary share capital.

Shoprite Holdings Limited- Operational Update

• Total sales of merchandise increased by 16.9% to approximately R215.0 billion for the 52 weeks ending on 2 July 2023.
• The Shoprite Group added a net total of 340 stores during the period, bringing the total to 3,324 stores from continuing operations.
• Sales Growth per Segment:
  • Supermarkets RSA + 17.8% (like-for-like 10.3%), contributing 80.8% to Group sales.
  • Supermarkets Non-RSA +16.4%, contributing 9.1% to Group sales.
  • The Furniture segment +5.1%, contributing 3.3% to Group sales.
  • Other operating segments' + 13.3%, contributing 6.8% to Group sales.
• Checkers and Checkers Hyper +18.0%
• Shoprite and Usave +15.6%.
• LiquorShop +30.8% 
• Supermarkets RSA opened a net total of 301 stores during the year, including 94 stores acquired from Massmart Holdings Ltd.
• Supermarkets Non-RSA operated in nine countries with a total of 228 stores.
• The Furniture segment's store base increased by a net of eight stores, ending the year with 434 stores.
• The cost of diesel to power generators during load-shedding across Supermarkets RSA amounted to R1.3 billion.

The U.S.

General Electric Earnings

• EPS of $0.48 beating expectations of $0.46.
• Revenue of $15.9B beating expectations of $15B.

Spotify

• Spotify currently has 551 Million total monthly active users up 27% YoY.

Taiwan Semiconductor

• Taiwan Semiconductor is planning to invest around $2.87 billion in an advanced chip packaging plant in Taiwan to capitalize on the AI boom.