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    OMN   ZAE000005153

OMNIA HOLDINGS LIMITED

(OMN)
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S.Africa's Omnia posts surge in FY earnings, reinstates dividend

06/22/2021 | 06:43am EDT

JOHANNESBURG (Reuters) - South African chemicals and fertiliser maker Omnia Holdings reinstated its dividend and posted a surge in annual earnings on Tuesday driven by improved performance in its agriculture and chemicals divisions.

The company, which also produces explosives, said headline earnings per share (HEPS) - the main profit measure used in South Africa - rose 154% to 391 cents for the year ended March 31, compared with 154 cents a year earlier.

Omnia, which last paid a dividend in 2018, declared a final dividend of 200 cents per share and a special dividend of 400 cents per ordinary share.

"The Group's balance sheet has placed Omnia in a strong financial position, allowing us to resume dividends and return over 1 billion rand to our shareholders," said Omnia chief executive officer Seelan Gobalsamy.

High commodity prices and a bumper crop boosted operating profit for its agricultural division, while its chemical business also saw improved sales towards the latter part of the financial year.

However, COVID-19 lockdowns where it operates, extreme wet weather in some regions and new entrants in the market weighed on its mining division with operating profit down to 287 million rand ($20.07 million) from 356 million rand a year earlier.

Increased cash and proceeds from the sale of its Oro Agri division to agricultural services firm Rovensa for $146.9 million in 2020 further bolstered its balance sheet.

With net cash of 1.3 billion rand, the company said it was setting its sights on growing its agricultural operations in Brazil and Australia and expanding its explosives operations into Australia, Indonesia, Canada and the United States.

"We will use some debt to fund and expand our operations and as we find those opportunities we will decide what the appropriate capital core will be for those operations," Gobalsamy said.

($1 = 14.2980 rand)

(Reporting by Akhona Matshoba; Editing by Tanisha Heiberg, Robert Birsel)


© Reuters 2021
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Financials
Sales 2021 17 790 M 1 199 M 1 199 M
Net income 2021 1 383 M 93,2 M 93,2 M
Net cash 2021 1 280 M 86,2 M 86,2 M
P/E ratio 2021 5,95x
Yield 2021 4,08%
Capitalization 9 079 M 614 M 612 M
EV / Sales 2020 0,33x
EV / Sales 2021 0,39x
Nbr of Employees -
Free-Float 97,0%
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Managers and Directors
Seelan Gobalsamy Chief Executive Officer & Executive Director
Stephanus Petrus Serfontein Group Financial Director
Ralph Havenstein Chairman
Sizwe Welcome Mncwango Independent Non-Executive Director
Ronald Clifford Bowen Independent Non-Executive Director
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