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Investment Idea: Sibanye Stillwater - 12 September 2024
Manage episode 440163907 series 3581049
PSG Financial Services에서 제공하는 콘텐츠입니다. 에피소드, 그래픽, 팟캐스트 설명을 포함한 모든 팟캐스트 콘텐츠는 PSG Financial Services 또는 해당 팟캐스트 플랫폼 파트너가 직접 업로드하고 제공합니다. 누군가가 귀하의 허락 없이 귀하의 저작물을 사용하고 있다고 생각되는 경우 여기에 설명된 절차를 따르실 수 있습니다 https://ko.player.fm/legal.
Our last report in May covered the 1Q24 sales and operating update for Sibanye.
We highlighted balance sheet concerns and noted that the group was engaging with lenders to increase debt covenants. The following events have taken place since:
- Sibanye released a trading statement on 2 September 2024 indicating that EPS were expected to decline by more than 100% and HEPS expected to decline between 97% and 98%.
- Sibanye’s lenders have agreed to raise the net debt to adjusted EITDA debt covenant from 2.5x.
- Sibanye concluded Section 189 consultations for its SA region.
The opinions expressed in these podcasts are the opinions of the series and not necessarily those of PSG. The information in these podcasts is provided as general information. It does not constitute financial, tax, legal or investment advice and PSG Financial Services does not guarantee its suitability or potential value. Since individual needs and risk profiles differ, we suggest you consult your qualified financial adviser, if needed. PSG Wealth Financial Planning (Pty) Ltd is an authorised financial services provider. FSP 728.
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