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JSE – FOR Profile’s Stock Exchange Handbook: 2024 – Issue 3
Fortress Real Estate Investments Ltd. The Foschini Group Ltd.
FOR FOS
ISIN: ZAE000248506 SHORT: FORTRESSB CODE: FFB ISIN: ZAE000148466 SHORT: TFG CODE: TFG
REG NO: 2009/016487/06 FOUNDED: 2009 LISTED: 2009 ISIN: ZAE000148516 SHORT: TFG PREF CODE: TFGP
NATUREOF BUSINESS:Fortressisarealestateinvestmentcompanywith REG NO: 1937/009504/06 FOUNDED: 1924 LISTED: 1941
a focus on developing and letting premium-grade logistics real estate in SA NATURE OF BUSINESS: TFG is one of South Africa’s foremost
and CEE, as well as growing our convenience and commuter-oriented independent chain-store groups and has a diverse portfolio of 30 leading
retail portfolio. Fortress also holds, at the date of this report, a 16.2% fashion and lifestyle retail brands offering clothing, jewellery, cellphones,
interest in NEPI Rockcastle, the largest listed property company on the accessories, cosmetics, sporting apparel and equipment, and homeware and
JSE, with a EUR7 billion portfolio across nine CEE countries. furniture from value to upper market segments.
SECTOR: RealEstate—RealEstate—InvestmentServices—Holdings TFG was established in 1924 and listed on the JSE in 1941.
NUMBER OF EMPLOYEES: 71 ThemajorityofTFG’sturnoverisintheformofcashsalestocustomers,with
DIRECTORS: Chetty T (ind ne), Lopion I (ind ne), Ludolph S (ind ne), the balance being from its own in-house credit offering. TFG offers credit to
Majija S V, Oblowitz E (ind ne), PotgieterJN(ld ind ne), customers in South Africa, Namibia, Botswana, Lesotho and eSwatini. TFG
Rampheri C (ind ne), Stevens M W, Lockhart-Ross R (Chair, ind ne), generates revenue from interest received on customers’ store cards and
Brown S (CEO & MD), Vorster I (CFO) through value-added services available to its TFG Africa customers.
MAJOR ORDINARY SHAREHOLDERS as at 13 Mar 2024 SECTOR: ConsDiscr—Retail—Retailers—ApparelRetailers
Government Employees Pension Fund 15.19% NUMBER OF EMPLOYEES: 46 566
Coronation Fund Managers 9.93% DIRECTORS: Abrahams Prof F (ind ne), Coleman C (ind ne),
Peresec Prime Brokers (Pty) Ltd. 5.73% DavinGH(ld ind ne), Friedland D (ind ne),
POSTAL ADDRESS: PO Box 138, Rivonia, 2128 Makgabo-FiskerstrandBLM(ind ne), MurrayAD(ne),
MORE INFO: www.sharedata.co.za/sdo/jse/FFB Oblowitz E (ind ne), Potgieter J (ind ne), SimamaneNV(ind ne), Sowazi
COMPANY SECRETARY: KPMG Inc. NL(ind ne), Stein R (ind ne), Lewis M (Chair, ind ne),
TRANSFER SECRETARY: JSE Investor Services (Pty) Ltd. Thunström A E (CEO), Buddle R (CFO)
SPONSORS: Java Capital (Pty) Ltd., Nedbank Corporate and Investment MAJOR ORDINARY SHAREHOLDERS as at 01 Jul 2024
Banking, a division of Nedbank Ltd. Public Investment Company SOC Ltd. 20.11%
AUDITORS: Deloitte & Touche Inc. M&G Investment Management (Pty) Ltd. 10.02%
Old Mutual Ltd.
5.13%
CAPITAL STRUCTURE AUTHORISED ISSUED POSTAL ADDRESS: PO Box 6020, Parow East, 7501
FFB Ords no par value 2 000 000 000 1 192 801 293 MORE INFO: www.sharedata.co.za/sdo/jse/TFG
DISTRIBUTIONS [ZARc] COMPANY SECRETARY: D van Rooyen
Ords no par value Ldt Pay Amt Scr/100 TRANSFER SECRETARY: Computershare Investor Services (Pty) Ltd.
Interim No 22 9 Apr 24 15 Apr 24 81.44 5.77 SPONSOR:RandMerchantBank(AdivisionofFirstRandBankLtd.(SA))
Final No 23 20 Sep 21 27 Sep 21 74.70 - AUDITORS: Deloitte & Touche Inc.
CAPITAL STRUCTURE AUTHORISED ISSUED
LIQUIDITY: Jul24 Avg 15m shares p.w., R217.9m(65.3% p.a.)
TFG Ords 1.25c ea 600 000 000 331 027 300
REIV 40 Week MA FORTRESSB
TFGP Prefs 200c ea 200 000 200 000
2161 DISTRIBUTIONS [ZARc]
Ords 1.25c ea Ldt Pay Amt
1864
Final No 160 16 Jul 24 22 Jul 24 200.00
Interim No 159 2 Jan 24 8 Jan 24 150.00
1566
LIQUIDITY: Jul24 Avg 10m shares p.w., R1 080.5m(159.4% p.a.)
1269
GERE 40 Week MA TFG
971
19438
674
2019 | 2020 | 2021 | 2022 | 2023 | 2024 16794
NOTES: All FFB shares were repurchased and delisted on 19 February 2024
and FFA shares were converted to FFB shares from 21 February 2024. 14150
Fortress REIT Ltd. renamed to Fortress Real Estate Investments Ltd. on 04
January 2023. 11506
FINANCIAL STATISTICS 8862
(R million) Dec 23 Jun 23 Jun 22 Jun 21 Jun 20
Interim Final Final(rst) Final Final 2019 | 2020 | 2021 | 2022 | 2023 | 2024 6218
NetRent/InvInc 2 140 3 788 3 446 3 233 3 617
Total Inc 2 163 3 850 3 735 3 284 3 698 FINANCIAL STATISTICS
Attrib Inc 2 961 5 917 778 3 353 - 8 369 (R million) Mar 24 Mar 23 Mar 22 Mar 21 Mar 20
Final
Final
Final Final(rst) Final(rst)
TotCompIncLoss 2 955 6 492 789 3 412 - 8 288 Turnover 56 221 51 778 43 370 32 950 35 323
Ord UntHs Int 36 364 33 330 26 740 27 257 24 117 Op Inc 3 450 3 334 3 058 134 2 807
FixedAss/Prop 33 082 32 782 30 254 28 155 28 283 NetIntPd(Rcvd) - 305 - 306 - 443 - 365 - 424
Tot Curr Ass 1 628 1 843 2 393 1 735 1 237 Att Inc 3 031 3 026 2 910 - 1 862 2 444
Total Ass 58 106 54 238 47 589 45 626 43 204 TotCompIncLoss 3 310 4 006 2 628 - 2 426 3 709
Tot Curr Liab 4 285 4 341 6 762 2 961 3 268
Fixed Ass 5 923 5 185 3 210 2 525 2 937
PER SHARE STATISTICS (cents per share) Inv & Loans 138 144 137 124 -
HEPS-C (ZARc) 29.42 90.99 153.24 89.50 - 64.07 Tot Curr Ass 25 321 26 635 24 070 21 186 20 755
DPS (ZARc) 81.44 - - 74.70 100.67 Ord SH Int 24 141 21 653 19 138 17 211 15 943
NAV PS (ZARc) 1 309.00 2 813.02 2 262.49 1 422.00 1 108.00 LT Liab 15 573 14 606 10 393 10 068 12 447
3 Yr Beta 0.64 0.67 1.00 0.95 0.99 Tot Curr Liab 14 448 16 845 13 782 11 995 13 769
Price Prd End 1 381 1 286 1 069 1 358 1 245 PER SHARE STATISTICS (cents per share)
Price High 1 484 1 338 1 627 1 544 2 200 HEPS-C (ZARc) 970.70 968.90 1 009.00 197.90 1 029.30
Price Low 1 225 877 1 041 1 130 800 DPS (ZARc) 350.00 320.00 500.00 - 335.00
RATIOS NAV PS (ZARc) 7 430.41 6 716.04 5 884.96 5 321.89 6 880.71
RetOnSH Funds 16.18 17.57 2.97 12.41 - 34.69
0.52
1.43
0.39
1.24
1.18
RetOnTotAss 11.16 11.50 10.47 8.75 8.24 3 Yr Beta 11 913 15 184 16 688 12 449 19 769
Price High
Debt:Equity 0.46 0.57 0.71 0.61 0.69 Price Low 8 100 8 228 11 157 5 992 5 600
OperRetOnInv 12.94 11.55 11.39 11.48 12.79 Price Prd End 9 955 9 095 14 738 12 279 6 767
OpInc:Turnover 100.00 100.00 100.00 100.00 100.00
RATIOS
Ret on SH Fnd 12.56 13.97 15.20 - 10.82 15.33
Oper Pft Mgn 6.14 6.44 7.05 0.41 7.95
D:E 0.76 0.92 0.70 0.72 1.15
Current Ratio 1.75 1.58 1.75 1.77 1.51
Div Cover 2.67 2.93 1.80 - 2.76
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