Page 187 - Profile's Stock Exchange Handbook -2024 Issue 4
P. 187

Group Annual Results for the 6 months

        ended 30 June 2024



        Earnings

        Net result from financial services  Total net fund inflows  Return on Group Equity Value per share


         14% (19% per share)      R24,0 billion (R11,1 billion in 2023)  9,3%
        Net operational earnings   Net value of new convered business  Adjusted Return on Group Equity Value per share
         8% (12% per share)        10% to R1.4 billion      10,7%

        Cash net result from financial services  Net new convered business margin  Capital management
         15% (20% per share)      2,73% (2,83% in 2023)
                                                              Discretionary capital at 30 June 2024
        New business               Group Equity Value         R3.8 billion
        Life insurance new business volumes (PVNBP)          Group Equity Value per share  Sanlam Group solvency cover ratio
         14% to R51,0 billion     R73,41                     166% (December 2023: 170%)
        SALIENT RESULTS                          SHAREHOLDERS’ FUND INCOME STATEMENT
        for the 6 months ended 30 June 2024      2024   2023   %                 Reviewed Reviewed
                                                                                 30 June   30 June
        SANLAM GROUP                             R’million                       2024  2023
        Earnings                                 RESULT FROM FINANCIAL SERVICES BEFORE TAX      11 025   9 647


        Net result from financial services   R million   7 056   6 177   14%  Tax on result from financial services           (2 819)  (2 768)

        Cash net result from financial services  R million   7 181   6 256   15%  Non-controlling interest            (1 150)   (702)
        Net operational earnings   R million   8 087   7 486   8%  Net result from financial services            7 056   6 177

        Headline earnings   R million   9 838   6 902  43%
        Weighted average number of shares   million   2 108   2 068   2%  Net investment income`            623   657
        Adjusted weighted number of shares   million   2 116   2 204  (4%)  Net investment surpluses            589   881
        Net result from fin. services per share   cents   333   280   19%  Project expenses            (181)   (229)

        Cash net result from fi.services per share  cents   339   284  20%

        Net operational earnings per share   cents   382   340   12%  Net operational earnings            8 087   7 486
        Headline earnings per share   cents   473   339  40%  Shareholder fund adjustments            1 898   158
        Diluted headline earnings per share   cents   467   334  40%  Net amortisation of value of business acquired
        IFRS information                         and other intangibles            (106)   (57)
        Basic profit attributable to shareholders  Impairments                    (513)  687

        per share             cents   478   389  23%  Net equity-accounted earnings            (243)   18
        Diluted profit attributable to shareholders


        per share             cents   471   383  23%  Net profit on disposal of subsidiaries            790   1 275
                                                 and associated companies
        Business volumes
        Total new business volumes     203 992  190 793   7%  Normalised attributable earnings            9 913   9 567
        Value of new covered business      1 394   1 265   10%  Fund transfers            19  (1 651)
        Life insurance business volumes (PVNBP)      51 044   44 751   14%
        New covered business margin      2,73%   2,83%  Attributable earnings per Group statement
        Total net client cash flows      23 972   11 357 >100%  of comprehensive income            9 932   7 916

        Group Equity Value
        Group equity value*   R million  155 270  149 904
        Group equity value per share*   cents   7 341   7 086
        Return on group equity value per share   %   9,3   12,0  SANLAM GROUP EARNINGS
        Adj. return on group equity value per share   %   10,7   8,5
                                                                         9 932
        SOLVENCY COVER
        Sanlam Group*           %   166   170
        Sanlam Life Insurance Ltd*   %   246   245                               7 916
        Sanlam Life Insurance Ltd covered business*  %   170   170
                                                      7 056
        * Comparative figures on 31 December 2023.

                                                              6 177
        NEW BUSINESS VOLUMES
        for the 6 months ended 30 June 2024      2024   2023
                                   R’m  R’m  %
                                                     Net result from financial services  Attributable earnings

        Total new business volumes                  2024  2023
        Life insurance             37 196  32 437   15%
        Investment business       143 129  134 317   7%  NET RESULT FROM FINANCIAL SERVICES
        General insurance         23 667  24 039   (2%)  for the 6 months ended 30 June 2024 (reviewed)      2024   2023   %
                                                                             R’m  R’m
        Total                     203 992  190 793   7%
                                                 Life insurance and health      4 004   3 527   14%
        Net client cash fl ows                    General insurance          1 447   1 246   16%
        Life insurance             10 570   7 465   42%  Investment management      531   481   10%
        Investment business        4 148  (4 806)  >100%  Credit and structuring      1 118   1 022   9%
        General insurance          9 254   8 698   6%  Administration and other      (44)   (99)   56%

         Total                    23 972   11 357  >100%  Net result from financial services      7 056   6 177   14%
                                                                                   30/10/2024   22:37:27
   JSE R&E book IR2024 v20241030.indd   1
   JSE R&E book IR2024 v20241030.indd   1                                          30/10/2024   22:37:27
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