The Daily Update: 9 March

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

South Africa

Northam Platinum Holdings Limited- Trading statement and trading update for the six months ended 31 December 2022

• EPS is expected to be bewteen 1 548.0 cents and 1 644.5 cents, representing an increase of between 60.4% and 70.4%.
• Sales revenue increased by 44.9% to R20.1 billion.
• Operating profit increased by 55.0% to R9.1 billion.
• Equivalent refined 4E metal from own operations increased by 11.9%.
• Operating margin increased to 45.1%.
• EBITDA increased by 54.5% to R10.0 billion.
• Headline earnings per share increased by 62.3% - 72.3%.
• Net debt to EBITDA ratio is 0.62, within Northam's self-imposed target ratio of 1 to 1.
• Group cash cost per equivalent refined platinum ounce increased by 14.0%.
• All organic growth projects are on track.
• The R17.0 billion cash consideration for the acquisition of Royal Bafokeng Platinum Limited has been fully funded.
• All amounts owing to the Royal Bafokeng Holdings Proprietary Limited group arising from the 2021 RBPlat share acquisition have been settled in full.
• R245.5 million of dividends were received from RBPlat during the period under review, with a further dividend of R536.2 million declared by RBPlat to be received on 3 April 2023, representing a 13.7% return on cash invested.

Sanlam Limited- Audited Annual Results for the year ended 31 December 2022

• Net result from financial services: R10,191 million (8% increase from 2021)
• Net operational earnings: R10,532 million (2% increase from 2021)
• Headline earnings: R9,294 million (3% increase from 2021)
• Life insurance new business volumes: R64,812 million (10% decrease from 2021)
• Life insurance net client cash flows: R21,615 million (70% increase from 2021)
• Dividend per share: 360 cents (8% increase from 2021)

Standard Bank Limited- Results announcement

• Headline earnings increased by 37% to R34,247m from R25,021m.
• Total income increased by 18% to R156,920m from R132,724m.
• EPS increased by 35% to 2,110.9 cents from 1,563.2 cents.
• HEPS increased by 33% to 2,087.1 cents from 1,573.0 cents.
• Total dividend per ordinary share increased by 38% to 1,206 cents from 871 cents.
• Net asset value per ordinary share increased by 6% to 13,302 cents from 12,493 cents.
• The financial performance for 2022 is measured by the return on equity (ROE) percentage of 16.4%, compared to 13.5% in 2021.

Capitec Bank Holdings Limited- Trading statement

• Group earnings per share will be between 8 329 cents and 8 550 cents per share, representing an increase of between 13% and 16%.

Exxaro Resources Limited- Trading statement

• HEPS is expected to increase between 20% and 34% to between 5 620 cents and 6 275 cents.

OutSurance Group Limited- Updated trading statement

• EPS is expected to be increase by between 139% and 149% to between 87.2 cents and 90.9 cents.

Thungela Resources Limited- Trading statement

• EPS is expected to be between R125 and R129 per share, representing an increase of between 105% and 111%

The U.S.

Microsoft

• Microsoft has said its new Bing powered by OpenAI's ChatGPT has surpassed 100 Million daily active users.

Spotify

• Spotify said it now has more than 500 Million monthly active users.

American Express

• American Express just approved the repurchase of up to 120 Million shares of common stock ($21.4 Billion at current levels).
• American Express also raised its quarterly dividend to $0.60 per share up from $0.52 per share.