Page 147 - Profile's Stock Exchange Handbook - 2025 Issue 1

Profile’s Stock Exchange Handbook: 2025 – Issue 1 JSE – MER
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.Metairwasformedin1948,becomingasupplierofautomotive
which Glencore OperationsSouth Africa (Pty) Ltd. (Glencore) has a 79.5% components to a single OEM in South Africa in 1964. As Metair has grown,
participation. The group’s major shareholders are Glencore (Netherlands) our strategy has evolved to meet the challenges of competing in the global
B.V. (Glencore BV)and the Industrial Development Corporation of South automotive industry. Today, Metair is a truly international company with
Africa (IDC). Merafe and Glencore formed the Venture in July 2004 when multiple OEM customers around the world, a broad range of aftermarket
they pooled their chrome operations to create the largest ferrochrome and non-automotive products, operations in five countries and ambitions to
producer in the world. grow into five continents within the next five years.
SECTOR:BasicMaterials—BasicResrcs—IndMet&Min—GeneralMining SECTOR: Consumer Discretionary—Auto&Parts—Auto&Parts—Auto
NUMBER OF EMPLOYEES: 6 719 NUMBER OF EMPLOYEES: 16 750
DIRECTORS: Green D (ne), Mabusela-Aikhuere N (ind ne), DIRECTORS: GiliamPH(ind ne), Mawasha B (ld ind ne),
McClaughlan J (ind ne), McGluwa D (ne), Tlale K (ind ne), Vuso M J (ind ne), Medupe N (ind ne), MkhondoNL(ind ne), MuellMH(ind ne),
Phiri S D (Chair, ind ne), Matlala Z (CEO), Chocho D (FD) SithebeAK(ind ne), Sithole S (alt), Mgoduso T N (Chair, ind ne),
MAJOR ORDINARY SHAREHOLDERS as at 31 Dec 2023 O’Flaherty P S (CEO), Jogia A (CFO)
Glencore BV 28.82% MAJOR ORDINARY SHAREHOLDERS as at 17 Jul 2024
Industrial Development Corporation of SA Ltd. 21.88% Coronation Fund Managers 20.96%
Ninety One (Cape Town) 6.21% Old Mutual 7.16%
POSTAL ADDRESS: PO Box 652157, Benmore, 2010 Value Active PFP H4 QI Hedge Fund 6.94%
MORE INFO: www.sharedata.co.za/sdo/jse/MRF POSTAL ADDRESS:PostNetSuite231, PrivateBagX31,Saxonwold,2132
COMPANY SECRETARY: CorpStat Governance Services MORE INFO: www.sharedata.co.za/sdo/jse/MTA
TRANSFER SECRETARY: JSE Investor Services (Pty) Ltd. COMPANY SECRETARY: S M Vermaak
SPONSOR: One Capital Sponsor Services (Pty) Ltd. TRANSFER SECRETARY: Computershare Investor Services (Pty) Ltd.
AUDITORS: Deloitte & Touche Inc. SPONSOR: One Capital
AUDITORS: Ernst & Young Inc.
CAPITAL STRUCTURE AUTHORISED ISSUED
MRF Ords 1c ea 3 500 000 000 2 499 126 870 CAPITAL STRUCTURE AUTHORISED ISSUED
MTA Ords no par value 400 000 000 198 985 886
DISTRIBUTIONS [ZARc]
Ords 1c ea Ldt Pay Amt DISTRIBUTIONS [ZARc]
Interim No 20 3 Sep 24 9 Sep 24 20.00 Ords no par value Ldt Pay Amt
Final No 19 9 Apr 24 15 Apr 24 22.00 Final No 71 5 Apr 22 11 Apr 22 90.00
Final No 69 13 Apr 21 19 Apr 21 75.00
LIQUIDITY: Jan25 Avg 10m shares p.w., R13.7m(19.8% p.a.)
LIQUIDITY: Jan25 Avg 2m shares p.w., R19.7m(41.9% p.a.)
INDM 40 Week MA MERAFE
AUTM 40 Week MA METAIR
185
154
2645
123
2230
91
1816
60
1401
29
2020 | 2021 | 2022 | 2023 | 2024 |
986
2020 | 2021 | 2022 | 2023 |
FINANCIAL STATISTICS
(R million) Jun 24 Dec 23 Dec 22 Dec 21 Dec 20 FINANCIAL STATISTICS
Interim Final Final Final Final (R million) Jun 24 Dec 23 Dec 22 Dec 21 Dec 20
Revenue 4 744 9 244 7 939 8 063 4 780 Interim Final Final Final Final
Op Inc 973 2 315 1 925 2 315 - 1 351 Turnover 7 951 15 856 13 905 12 621 10 235
NetIntPd(Rcvd) - 30 - 38 - 25 - 11 - 5 Op Inc 134 487 453 1 159 561
Att Inc 720 1 753 1 410 1 674 - 1 003 NetIntPd(Rcvd) 446 741 377 145 164
TotCompIncLoss 720 1 753 1 410 1 674 - 1 003 Minority Int - 5 33 36 18 11
Fixed Ass 1 473 1 388 1 075 713 339 Att Inc 9 96 - 40 675 174
Tot Curr Ass 5 255 5 182 4 509 4 179 2 609 TotCompIncLoss 268 407 1 495 - 208 - 100
Ord SH Int 5 428 5 259 4 330 3 770 2 277 Fixed Ass 4 258 4 078 3 771 2 637 2 618
LT Liab 488 419 418 283 192 Inv & Loans 229 216 193 - -
Tot Curr Liab 912 971 908 892 644 Tot Curr Ass 7 486 7 242 7 492 5 536 5 539
Ord SH Int 5 674 5 406 5 068 3 759 4 106
PER SHARE STATISTICS (cents per share)
HEPS-C (ZARc) 28.20 60.10 56.40 66.95 - 0.80 Minority Int 136 127 130 116 109
DPS (ZARc) 20.00 42.00 25.00 29.00 - LT Liab 1 764 1 700 912 2 242 1 028
NAV PS (ZARc) 217.21 210.42 173.27 150.43 90.69 Tot Curr Liab 6 270 5 877 6 723 2 959 4 056
3 Yr Beta 0.81 1.13 1.45 1.66 1.11 PER SHARE STATISTICS (cents per share)
Price High 161 146 196 124 89 HEPS-C (ZARc) - 3.00 135.00 - 17.00 354.00 148.00
Price Low 120 104 103 41 24 DPS (ZARc) - - - 90.00 75.00
Price Prd End 148 130 132 120 42 NAV PS (ZARc) 2 923.00 2 790.00 2 615.00 1 946.00 2 133.00
RATIOS 3 Yr Beta 0.59 0.41 0.92 0.99 1.08
Ret on SH Fnd 26.51 33.34 32.56 44.39 - 44.05 Price High 1 862 2 763 3 134 3 250 2 400
Oper Pft Mgn 20.52 25.04 24.25 28.71 - 28.27 Price Low 957 1 329 2 161 1 717 1 192
D:E 0.09 0.08 0.10 0.08 0.08 Price Prd End 1 100 1 775 2 750 2 750 1 875
Current Ratio 5.76 5.33 4.97 4.68 4.05 RATIOS
Div Cover 1.44 1.67 2.26 2.30 - Ret on SH Fnd 0.11 2.32 - 0.08 17.88 4.40
Oper Pft Mgn 1.69 3.07 3.26 9.18 5.48
D:E 0.89 0.81 0.86 0.73 0.70
Current Ratio 1.19 1.23 1.11 1.87 1.37
Div Cover - - - 3.89 1.21
145