by Rowan Goeller | Nov 10, 2021 | Construction and Basic Materials
Key message: With the roads order book relatively full, renewable energy offers Raubex further growth opportunities. The announcement of external funding for Eskom from COP26 should unlock public and private renewable energy spend. This is significant for Raubex as...
by Rowan Goeller | Nov 5, 2021 | Construction and Basic Materials
Its about Volumes Not Prices Key message: Iron ore prices have retreated significantly, but we still forecast revenue in FY24 to be 2.4 times that in FY21 due to volume growth in existing and new mines. Afrimat released 1H FY22 results, with HEPS up 60.5% to 295.1c...
by Rowan Goeller | Oct 21, 2021 | Construction and Basic Materials, General
August 2021 Key message: July and August imports have been relatively high given the looting and port issues over the period. Government localisation policies will have minimal impact on imports. August 2021 saw imports of 75 944 tons, after 79 516 tons were imported...
by Rowan Goeller | Oct 18, 2021 | Construction and Basic Materials
Key message: With the restructuring complete margins and profitability are improving, with a strong 2H expected. Calgro released 1H FY22 results. Revenue increased by 46% at an improved gross profit margin of 19.7% (17.5% developments, 60% memorial parks). Management...
by Rowan Goeller | Oct 13, 2021 | Construction and Basic Materials, General, Industrials
A Deep Dive In this presentation we have an in-depth look at the South African Cement industry (including aggregates and ready-mix). Download presentation here
by Rowan Goeller | Oct 4, 2021 | Construction and Basic Materials
Key message: 1H FY22 will get a boost from high iron ore prices, but the recent iron price pullback is not unexpected and built into our forecast. Growth is driven by production increases, not higher than normal commodity prices. Afrimat released a Trading Update for...
