The Daily Update: 27 March

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

South Africa

Thungela Resources Limited

• Revenue of R50.8 billion, a 93% increase from 2021.
• Operating costs of R22.4 billion, a 29% increase from 2021.
• Adjusted EBITDA of R29.5 billion, a 196% increase from 2021.
• Profit for the reporting period of R18.2 billion, a 162% increase from 2021.
• Adjusted operating free cash flow of R18.1 billion, a 361% increase from 2021.
• Net cash of R14.7 billion, a 70% increase from 2021.
• Capital expenditure of R1.9 billion, a 17% decrease from 2021.
• Final cash dividend declared of R40.00 per share, taking full year dividend to R100.00 per share, a 456% increase from 2021.
• Secured access to R3.2 billion in credit facilities liquidity buffer raised to R8.2 billion to reflect liquidity needs following Ensham acquisition and heightened levels of uncertainty related to Transnet Freight Rail (TFR) performance.

Woolworths Holdings Limited

• Woolworths Holdings Limited announces the successful conclusion of the sale of its entire shareholding in Australian subsidiary David Jones to Anchorage Capital Partners, an Australian private equity fund.
• The transaction was completed in accordance with the terms of the Transaction Agreement and the proceeds of the Transaction will be finalised by the end of June 2023.
• The Transaction will materially improve the return on capital of the Group by removing R22 billion in liabilities, enabling the reallocation of capital and management focus towards the Groups core, and higher yielding South African businesses and the Australian Country Road Group.

ADvTech Limited- Results for the year ended 31 December 2022 and announcement of dividend declaration.

• Revenue increased by 18% to R6 961 million.
• Operating profit before interest and non-trading items increased by 20% to R1 333 million.
• Normalised earnings increased by 20% to R790 million.
• EPS increased by 21% to 148.6 cents per share.
• A full year dividend of 60.0 cents per share was declared and will be paid on Thursday, 18 May 2023.

Northam Platinum Holdings Limited- Condensed reviewed interim financial results for the six months ended 31 December 2022

• Sales revenue grew by 44.9% to R20 119 026 000.
• Operating profit grew by 55% to R9 066 564 000.
• EPS grew by 65.4% to 1 596.2 cents per share.
• EBITDA grew by 54.5% to R9 953 810 000.

Gemfields Group Limited- Results for the year ended 31 December 2022 & Dividend Announced

• The company achieved record revenues of USD 341 million, up 32% from the previous year.
• EBITDA also showed strong growth, up 25% to USD 166 million, with a healthy EBITDA margin of 48.6% for the group.
• Free cash flow before working capital was USD 99 million for the year, while net cash at the end of the year was at an all-time high of USD 105 million.
• The company declared a record final dividend of USD 35 million (USD cents 2.886 per ordinary share), payable on 12 May 2023.
• Gemfields CEO Sean Gilbertson commented that 2022 has been a remarkable year for the company, with a dramatic recovery from the COVID-19 pandemic.
• The company's strategy of being a world-leading responsible miner and marketer of coloured gemstones is generating considerable revenue and benefits for host governments and communities.
• The coloured gemstone market has seen strong demand after the pandemic, with prices paid for uncut emeralds and rubies reaching remarkable levels during the first half of 2022.
• The Company has declared a gross dividend of USDc 2.88 per share and will be paid on Friday, 12 May.

Sun International Limited- Dealings in securities

• Value Capital Partners (Pty) Ltd have purchased 1 431 870 shares for a total value of R56 410 573.45.

The U.S.

Saudi Aramco

• Saudi Aramco has agreed to buy a 10% stake in a giant oil complex in China for $3.6 Billion in a deal that will significantly expand its refining presence in China.

Silicon Valley Bank

• First Citizens Bank has agreed to acquire Silicon Valley Bank.

Dominos

• Dominos Pizza's franchise in Italy has entered into liquidation.