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JSE – MER Profile’s Stock Exchange Handbook: 2024 – Issue 3
Merafe Resources Ltd. Metair Investments Ltd.
MER MET
ISIN: ZAE000060000 SHORT: MERAFE CODE: MRF ISIN: ZAE000090692 SHORT: METAIR CODE: MTA
REG NO: 1987/003452/06 FOUNDED: 1987 LISTED: 1988 REG NO: 1948/031013/06 FOUNDED: 1948 LISTED: 1949
NATURE OF BUSINESS: Merafe is listed on the Johannesburg Stock NATURE OF BUSINESS:Metair is a publicly-owned company listed on the
Exchange (JSE)andA2Xinthe GeneralMiningsectorunderthe sharecode Johannesburg Stock Exchange. From its headquarters in Johannesburg the
MRF. Merafe’s business is the 20.5% participation through its group manages an international portfolio of companies that manufacture,
wholly-owned subsidiary, Merafe Ferrochrome, in the earnings before distribute and retail products for energy storage and automotive
interest, tax, depreciation and amortisation (EBITDA) of the Venture in components. Metair was formed in 1948, becoming a supplier of
which GlencoreOperationsSouth Africa (Pty) Ltd.(Glencore) has a79.5% automotive components to a single OEM in South Africa in 1964. As
participation. The group’s major shareholders are Glencore (Netherlands) Metair has grown, our strategy has evolved to meet the challenges of
B.V. (Glencore BV)and the Industrial Development Corporation of South competing in the global automotive industry. Today, Metair is a truly
Africa (IDC). Merafe and Glencore formed the Venture in July 2004 when international company with multiple OEM customers around the world, a
they pooled their chrome operations to create the largest ferrochrome broad range of aftermarket and non-automotive products, operations in
producer in the world. five countries and ambitions to grow into five continents within the next
SECTOR:BasicMaterials—BasicResrcs—IndMet&Min—GeneralMining five years.
NUMBER OF EMPLOYEES: 6 719 SECTOR: Consumer Discretionary—Auto&Parts—Auto&Parts—Auto
DIRECTORS: Green D (ne), Mabusela-Aikhuere N (ind ne), McClaughlan J NUMBER OF EMPLOYEES: 16 750
(ind ne), McGluwa D (ne), Tlale K (ind ne), Vuso M J (ind ne), Phiri S DIRECTORS: GiliamPH(ind ne), Mawasha B (ld ind ne), Medupe
D(Chair, ind ne), Matlala Z (CEO), Chocho D (FD) N(ind ne), MkhondoNL(ind ne), MuellMH(ind ne), SithebeAK(ind
MAJOR ORDINARY SHAREHOLDERS as at 31 Dec 2023 ne), Sithole S (alt), Mgoduso T N (Chair, ind ne), O’Flaherty P S (CEO),
Glencore BV 28.82% Jogia A (CFO)
Industrial Development Corporation of SA Ltd. 21.88% MAJOR ORDINARY SHAREHOLDERS as at 17 Jul 2024
Ninety One (Cape Town) 6.21% Coronation Fund Managers 20.96%
POSTAL ADDRESS: PO Box 652157, Benmore, 2010 Old Mutual 7.16%
MORE INFO: www.sharedata.co.za/sdo/jse/MRF Value Active PFP H4 QI Hedge Fund 6.94%
COMPANY SECRETARY: CorpStat Governance Services POSTAL ADDRESS:PostNetSuite231, PrivateBagX31,Saxonwold,2132
TRANSFER SECRETARY: JSE Investor Services (Pty) Ltd. MORE INFO: www.sharedata.co.za/sdo/jse/MTA
SPONSOR: One Capital Sponsor Services (Pty) Ltd. COMPANY SECRETARY: S M Vermaak
AUDITORS: Deloitte & Touche Inc. TRANSFER SECRETARY: Computershare Investor Services (Pty) Ltd.
SPONSOR: One Capital
CAPITAL STRUCTURE AUTHORISED ISSUED
MRF Ords 1c ea 3 500 000 000 2 499 126 870 AUDITORS: Ernst & Young Inc.
CAPITAL STRUCTURE AUTHORISED ISSUED
DISTRIBUTIONS [ZARc] MTA Ords no par value 400 000 000 198 985 886
Ords 1c ea Ldt Pay Amt
Final No 19 9 Apr 24 15 Apr 24 22.00 DISTRIBUTIONS [ZARc]
Interim No 18 5 Sep 23 11 Sep 23 20.00 Ords no par value Ldt Pay Amt
Final No 71 5 Apr 22 11 Apr 22 90.00
LIQUIDITY: Jul24 Avg 6m shares p.w., R7.6m(11.8% p.a.)
Final No 69 13 Apr 21 19 Apr 21 75.00
INDM 40 Week MA MERAFE
LIQUIDITY: Jul24 Avg 2m shares p.w., R20.3m(40.3% p.a.)
389
AUTM 40 Week MA METAIR
317 3060
245 2645
173 2230
101 1816
29 1401
2019 | 2020 | 2021 | 2022 | 2023 | 2024
FINANCIAL STATISTICS 986
2019 | 2020 | 2021 | 2022 | 2023 |
(R million) Dec 23 Dec 22 Dec 21 Dec 20 Dec 19
Final Final Final Final Final(rst) FINANCIAL STATISTICS
Revenue 9 244 7 939 8 063 4 780 5 379 (R million) Dec 23 Dec 22 Dec 21 Dec 20 Dec 19
Op Inc 2 315 1 925 2 315 - 1 351 - 67 Final Final Final Final Final
NetIntPd(Rcvd) - 38 - 25 - 11 - 5 10 Turnover 15 856 13 905 12 621 10 235 11 238
Att Inc 1 753 1 410 1 674 - 1 003 - 1 362 Op Inc 487 453 1 159 561 1 018
TotCompIncLoss 1 753 1 410 1 674 - 1 003 - 1 362 NetIntPd(Rcvd) 741 377 145 164 227
Fixed Ass 1 388 1 075 713 339 1 435 Minority Int 33 36 18 11 34
Tot Curr Ass 5 182 4 509 4 179 2 609 3 057 Att Inc 96 - 40 675 174 624
Ord SH Int 5 259 4 330 3 770 2 277 3 381 TotCompIncLoss 407 1 495 - 208 - 100 273
LT Liab 419 418 283 192 585 Fixed Ass 4 078 3 771 2 637 2 618 2 707
Tot Curr Liab 971 908 892 644 594 Inv & Loans 216 193 - - -
Tot Curr Ass 7 242 7 492 5 536 5 539 4 906
PER SHARE STATISTICS (cents per share) Ord SH Int 5 406 5 068 3 759 4 106 4 188
HEPS-C (ZARc) 60.10 56.40 66.95 - 0.80 - 3.40 Minority Int 127 130 116 109 123
DPS (ZARc) 42.00 25.00 29.00 - 4.00 LT Liab 1 700 912 2 242 1 028 1 843
NAV PS (ZARc) 210.42 173.27 150.43 90.69 134.64 Tot Curr Liab 5 877 6 723 2 959 4 056 2 813
3 Yr Beta 1.13 1.45 1.66 1.11 0.96
Price High 146 196 124 89 153 PER SHARE STATISTICS (cents per share)
Price Low 104 103 41 24 75 HEPS-C (ZARc) 135.00 - 17.00 354.00 148.00 336.00
Price Prd End 130 132 120 42 86 DPS (ZARc) - - 90.00 75.00 120.00
RATIOS NAV PS (ZARc) 2 790.00 2 615.00 1 946.00 2 133.00 2 186.00
Ret on SH Fnd 33.34 32.56 44.39 - 44.05 - 40.28 3 Yr Beta 0.41 0.92 0.99 1.08 0.13
Oper Pft Mgn 25.04 24.25 28.71 - 28.27 - 1.25 Price High 2 763 3 134 3 250 2 400 2 575
D:E 0.08 0.10 0.08 0.08 0.17 Price Low 1 329 2 161 1 717 1 192 1 600
Current Ratio 5.33 4.97 4.68 4.05 5.15 Price Prd End 1 775 2 750 2 750 1 875 2 310
Div Cover 1.67 2.26 2.30 - - 13.55 RATIOS
Ret on SH Fnd 2.32 - 0.08 17.88 4.40 15.26
Oper Pft Mgn 3.07 3.26 9.18 5.48 9.06
D:E 0.81 0.86 0.73 0.70 0.70
Current Ratio 1.23 1.11 1.87 1.37 1.74
Div Cover - - 3.89 1.21 2.71
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