Buy Or Sell Opportunity • Jun 10
Now 20% undervalued Over the last 90 days, the stock has risen 41% to R51.60. The fair value is estimated to be R64.65, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.4% over the last 3 years. Earnings per share has grown by 28%. Announcement • May 02
Sun International Limited, Annual General Meeting, Jun 03, 2026 Sun International Limited, Annual General Meeting, Jun 03, 2026. Location: the maslow hotel, corner of grayston drive and rivonia road, sandton, johannesburg South Africa Recent Insider Transactions • Apr 19
CFO & Executive Director recently sold R2.1m worth of stock On the 14th of April, Norman Basthdaw sold around 45k shares on-market at roughly R46.03 per share. This transaction amounted to 3.6% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Norman has been a net seller over the last 12 months, reducing personal holdings by R2.2m. Upcoming Dividend • Apr 01
Upcoming dividend of R3.52 per share Eligible shareholders must have bought the stock before 08 April 2026. Payment date: 13 April 2026. Payout ratio is a comfortable 64% and this is well supported by cash flows. Trailing yield: 8.9%. Within top quartile of South African dividend payers (8.1%). Higher than average of industry peers (5.5%). Declared Dividend • Mar 18
Final dividend increased to R3.52 Dividend of R3.52 is 49% higher than last year. Ex-date: 8th April 2026 Payment date: 13th April 2026 Dividend yield will be 13%, which is higher than the industry average of 7.4%. Sustainability & Growth Dividend is covered by both earnings (2% earnings payout ratio) and cash flows (54% cash payout ratio). The dividend has increased by an average of 3.7% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 43% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 16
Full year 2025 earnings released: EPS: R6.61 (vs R4.99 in FY 2024) Full year 2025 results: EPS: R6.61 (up from R4.99 in FY 2024). Revenue: R13.0b (up 3.2% from FY 2024). Net income: R1.60b (up 32% from FY 2024). Profit margin: 12% (up from 9.7% in FY 2024). Revenue is forecast to grow 3.9% p.a. on average during the next 2 years, compared to a 8.0% growth forecast for the Hospitality industry in Africa. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Oct 05
CFO & Executive Director recently sold R145k worth of stock On the 1st of October, Norman Basthdaw sold around 80k shares on-market at roughly R1.81 per share. This transaction amounted to 6.4% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Norman has been a net seller over the last 12 months, reducing personal holdings by R1.2m. Reported Earnings • Sep 11
First half 2025 earnings released: EPS: R3.04 (vs R1.96 in 1H 2024) First half 2025 results: EPS: R3.04 (up from R1.96 in 1H 2024). Revenue: R6.19b (up 3.2% from 1H 2024). Net income: R737.0m (up 54% from 1H 2024). Profit margin: 12% (up from 8.0% in 1H 2024). The increase in margin was primarily driven by higher revenue. Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Hospitality industry in Africa. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Declared Dividend • Sep 10
First half dividend increased to R1.72 Dividend of R1.72 is 6.8% higher than last year. Ex-date: 23rd September 2025 Payment date: 29th September 2025 Dividend yield will be 9.1%, which is higher than the industry average of 7.4%. Sustainability & Growth Dividend is covered by both earnings (66% earnings payout ratio) and cash flows (53% cash payout ratio). The dividend has increased by an average of 4.2% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 52% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • Sep 09
Now 20% undervalued Over the last 90 days, the stock has risen 9.1% to R45.50. The fair value is estimated to be R56.97, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.4% over the last 3 years. Earnings per share has grown by 31%. Revenue is forecast to grow by 8.1% in 2 years. Earnings are forecast to grow by 17% in the next 2 years. Announcement • Sep 01
Sun International Limited Provides Earnings Guidance for the Six-Month Period Ended 30 June 2025 Sun International Limited provided earnings guidance for the six-month period ended 30 June 2025. For the period, the company expected headline earnings per share of 298 cents to 307 cents; Basic earnings per share of 300 cents to 310 cents. Buy Or Sell Opportunity • Jul 17
Now 20% undervalued Over the last 90 days, the stock has risen 22% to R47.40. The fair value is estimated to be R59.51, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 38%. For the next 3 years, revenue is forecast to grow by 4.1% per annum. Earnings are also forecast to grow by 11% per annum over the same time period. Announcement • Jul 02
Sun International Limited Announces Board and Committee Changes, Effective July 1, 2025 Sun International Limited announced the appointment of Mr. U Bengtsson as an executive director of the Company with effect from 1 July 2025. Following the retirement of Mr. Leeming as an executive director of Sun International, he has likewise and with immediate effect retired as a member of the Sun International Social and Ethics Committee as well as a member of the Risk Committee. Recent Insider Transactions • Apr 21
CEO & Executive Director recently sold R6.5m worth of stock On the 15th of April, Anthony Leeming sold around 166k shares on-market at roughly R39.27 per share. This transaction amounted to 10.0% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Anthony has been a net seller over the last 12 months, reducing personal holdings by R24m. Recent Insider Transactions • Apr 17
Non-Executive Chairman recently bought R874k worth of stock On the 10th of April, Samuel Sithole bought around 23k shares on-market at roughly R38.00 per share. This trade did not impact their existing holding. In the last 3 months, there was an even bigger purchase from another insider worth R990k. This was Samuel's only on-market trade for the last 12 months. Upcoming Dividend • Apr 03
Upcoming dividend of R2.37 per share Eligible shareholders must have bought the stock before 09 April 2025. Payment date: 14 April 2025. Payout ratio is on the higher end at 80%, however this is supported by cash flows. Trailing yield: 9.8%. Within top quartile of South African dividend payers (8.6%). Higher than average of industry peers (5.8%). Recent Insider Transactions • Apr 01
CFO & Executive Director recently bought R990k worth of stock On the 27th of March, Norman Basthdaw bought around 24k shares on-market at roughly R41.60 per share. This transaction amounted to 2.2% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Norman's only on-market trade for the last 12 months. Announcement • Mar 31
Sun International Limited, Annual General Meeting, May 07, 2025 Sun International Limited, Annual General Meeting, May 07, 2025. Location: the maslow hotel, corner of grayston drive and rivonia road, sandton, johannesburg South Africa Declared Dividend • Mar 19
Final dividend of R2.37 announced Shareholders will receive a dividend of R2.37. Ex-date: 9th April 2025 Payment date: 14th April 2025 Dividend yield will be 9.7%, which is higher than the industry average of 7.4%. Sustainability & Growth Dividend is covered by both earnings (88% earnings payout ratio) and cash flows (43% cash payout ratio). The dividend has increased by an average of 5.7% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 9.1% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 18
Full year 2024 earnings released: EPS: R499 (vs R4.23 in FY 2023) Full year 2024 results: EPS: R499 (up from R4.23 in FY 2023). Revenue: R12.6b (up 4.0% from FY 2023). Net income: R1.21b (up 18% from FY 2023). Profit margin: 9.7% (up from 8.5% in FY 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.8% p.a. on average during the next 2 years, compared to a 3.8% growth forecast for the Hospitality industry in Africa. Over the last 3 years on average, earnings per share has increased by 175% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Announcement • Mar 14
Sun International Limited to Report First Half, 2025 Results on Sep 08, 2025 Sun International Limited announced that they will report first half, 2025 results on Sep 08, 2025 Announcement • Mar 10
Sun International Limited to Report Fiscal Year 2024 Results on Mar 17, 2025 Sun International Limited announced that they will report fiscal year 2024 results on Mar 17, 2025 Recent Insider Transactions • Sep 22
CEO & Executive Director recently sold R11m worth of stock On the 18th of September, Anthony Leeming sold around 238k shares on-market at roughly R45.04 per share. This transaction amounted to 12% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Anthony has been a net seller over the last 12 months, reducing personal holdings by R15m. Reported Earnings • Sep 11
First half 2024 earnings released: EPS: R1.96 (vs R1.71 in 1H 2023) First half 2024 results: EPS: R1.96 (up from R1.71 in 1H 2023). Revenue: R6.00b (up 3.7% from 1H 2023). Net income: R479.0m (up 15% from 1H 2023). Profit margin: 8.0% (up from 7.2% in 1H 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Hospitality industry in Africa. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 35% per year, which means it is significantly lagging earnings growth. Board Change • Jun 02
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 8 experienced directors. 1 highly experienced director. Independent Non-Executive Director Dawn Marole was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Apr 19
Rutam Finance Company Limited concluded a sale and purchase of shares agreement to acquire a 43.3% stake in The Tourist Company of Nigeria Plc (NGSE:TOURIST) from Sun International Limited (JSE:SUI) for $1.875 million. Rutam Finance Company Limited concluded a sale and purchase of shares agreement to acquire a 43.3% stake in The Tourist Company of Nigeria Plc (NGSE:TOURIST) from Sun International Limited (JSE:SUI) for $1.875 million on April 18, 2024. The transaction includes Sun International dispose of 100% of its loan account held in TCN to RFC for a selling price of $12.675 million. The remaining 6% equity interest held by Sun International in TCN will be sold by Sun International in due course and shareholders will be advised thereof at the appropriate time. The remaining major shareholders of TCN have, as per the shareholders agreement in place between the parties, agreed to waive their pre-emptive rights to subscribe for those shares which Sun International intends selling to RFC and have consented to the Proposed Transaction. The transaction is subject to securing Competition Authority, Securities Exchange Commission and Nigerian Stock Exchange approvals in Nigeria; RFC executing an accession agreement to the shareholders agreement between TCN and its various shareholders; and Oma Investments Limited and Omamo Investments Corporation, sister companies of RFC, and Sun International entering into a settlement agreement regarding the various disputes, actions and applications instituted against each other in previous years. The closing date of the Proposed Transaction will be the third business day immediately following the date upon which the last of the conditions precedent set out in the sale and purchase of shares agreement have been fulfilled or waived (to the extent that they are capable of being waived) by the parties which is anticipated to be not later than May 28, 2024. Upcoming Dividend • Apr 05
Upcoming dividend of R2.03 per share Eligible shareholders must have bought the stock before 10 April 2024. Payment date: 15 April 2024. Payout ratio is on the higher end at 83%, however this is supported by cash flows. Trailing yield: 9.5%. Within top quartile of South African dividend payers (9.0%). Higher than average of industry peers (7.6%). Recent Insider Transactions • Mar 31
CEO & Executive Director recently bought R2.3m worth of stock On the 25th of March, Anthony Leeming bought around 63k shares on-market at roughly R36.20 per share. This transaction amounted to 3.1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Anthony's only on-market trade for the last 12 months. Announcement • Feb 06
Sun International Limited, Annual General Meeting, Mar 04, 2024 Sun International Limited, Annual General Meeting, Mar 04, 2024, at 09:00 South Africa Standard Time. Location: Maslow Hotel, Cnr Rivonia Road and Grayston Drive Sandton South Africa Agenda: To consider the propose acquisition by Sun International (South Africa) Limited, a wholly owned subsidiary of Sun International, of all of the issued ordinary shares and any claims on loan account against Peermont Holdings Proprietary Limited. Upcoming Dividend • Sep 20
Upcoming dividend of R1.48 per share at 9.3% yield Eligible shareholders must have bought the stock before 27 September 2023. Payment date: 02 October 2023. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 9.3%. Lower than top quartile of South African dividend payers (9.5%). Higher than average of industry peers (7.4%). Announcement • Sep 13
Sun International Limited Declares Gross Interim Cash Dividend for the Six-Month Period Ended 30 June 2023, Payable on 2 October 2023 The board of Sun International Limited has declared a gross interim cash dividend of 148 cents (118.40000 cents net of dividend withholding tax) for the six-month period ended 30 June 2023 being a 68.2% increase on the prior period's 88 cents. Last day to trade cum dividend is on 26 September 2023; Shares commence trading 'ex' dividend on 27 September 2023; Record date is on 29 September 2023; Payment date on 2 October 2023. Reported Earnings • Sep 12
First half 2023 earnings released: EPS: R1.71 (vs R0.94 in 1H 2022) First half 2023 results: EPS: R1.71 (up from R0.94 in 1H 2022). Revenue: R5.79b (up 12% from 1H 2022). Net income: R482.0m (up 108% from 1H 2022). Profit margin: 8.3% (up from 4.5% in 1H 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 106% per year but the company’s share price has only increased by 46% per year, which means it is significantly lagging earnings growth. Announcement • Aug 18
Sun International Limited to Report Q2, 2023 Results on Sep 11, 2023 Sun International Limited announced that they will report Q2, 2023 results on Sep 11, 2023 Recent Insider Transactions • Mar 27
CEO & Executive Director recently bought R2.2m worth of stock On the 20th of March, Anthony Leeming bought around 60k shares on-market at roughly R36.42 per share. This transaction amounted to 4.0% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Anthony has been a buyer over the last 12 months, purchasing a net total of R11m worth in shares. Upcoming Dividend • Mar 22
Upcoming dividend of R2.41 per share at 8.5% yield Eligible shareholders must have bought the stock before 29 March 2023. Payment date: 03 April 2023. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 8.5%. Lower than top quartile of South African dividend payers (8.9%). Higher than average of industry peers (5.8%). Reported Earnings • Mar 14
Full year 2022 earnings released: EPS: R2.24 (vs R1.06 in FY 2021) Full year 2022 results: EPS: R2.24 (up from R1.06 in FY 2021). Revenue: R11.3b (up 44% from FY 2021). Net income: R555.0m (up 109% from FY 2021). Profit margin: 4.9% (up from 3.4% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Announcement • Feb 17
Sun International Limited to Report Fiscal Year 2022 Results on Mar 13, 2023 Sun International Limited announced that they will report fiscal year 2022 results on Mar 13, 2023 Upcoming Dividend • Sep 07
Upcoming dividend of R0.88 per share Eligible shareholders must have bought the stock before 14 September 2022. Payment date: 19 September 2022. Trailing yield: 5.6%. Lower than top quartile of South African dividend payers (8.8%). Higher than average of industry peers (4.0%). Reported Earnings • Aug 29
First half 2022 earnings released: EPS: R0.94 (vs R0.28 loss in 1H 2021) First half 2022 results: EPS: R0.94 (up from R0.28 loss in 1H 2021). Revenue: R5.17b (up 29% from 1H 2021). Net income: R232.0m (up R301.0m from 1H 2021). Profit margin: 4.5% (up from net loss in 1H 2021). Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • May 24
Investor sentiment improved over the past week After last week's 22% share price gain to R32.20, the stock trades at a trailing P/E ratio of 30.2x. Average trailing P/E is 20x in the Hospitality industry in Africa. Total loss to shareholders of 30% over the past three years. Valuation Update With 7 Day Price Move • Mar 31
Investor sentiment improved over the past week After last week's 15% share price gain to R29.97, the stock trades at a trailing P/E ratio of 28.2x. Average trailing P/E is 20x in the Hospitality industry in Africa. Total loss to shareholders of 35% over the past three years. Reported Earnings • Mar 15
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: R91.74 (up from R3.60 loss in FY 2020). Revenue: R7.81b (up 28% from FY 2020). Net income: R265.0m (up R894.0m from FY 2020). Profit margin: 3.4% (up from net loss in FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 136% per year but the company’s share price has fallen by 24% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Mar 15
Investor sentiment improved over the past week After last week's 20% share price gain to R25.85, the stock trades at a trailing P/E ratio of 45.4x. Average trailing P/E is 22x in the Hospitality industry in Africa. Total loss to shareholders of 49% over the past three years. Valuation Update With 7 Day Price Move • Nov 19
Investor sentiment deteriorated over the past week After last week's 16% share price decline to R25.20, the stock trades at a trailing P/E ratio of 44.3x. Average trailing P/E is 21x in the Hospitality industry in Africa. Total loss to shareholders of 49% over the past three years. Valuation Update With 7 Day Price Move • Oct 04
Investor sentiment improved over the past week After last week's 16% share price gain to R22.38, the stock trades at a trailing P/E ratio of 39.3x. Average trailing P/E is 35x in the Hospitality industry in Africa. Total loss to shareholders of 58% over the past three years. Executive Departure • Jun 19
Independent Non-Executive Chairman Jabulane Mabuza has left the company On the 16th of June, Jabulane Mabuza's tenure as Independent Non-Executive Chairman ended after 2.8 years in the role. As of March 2021, Jabulane still personally held only 24.44k shares (R336k worth at the time). A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 3.33 years. Announcement • Mar 09
Sun International Limited to Report Fiscal Year 2020 Results on Mar 15, 2021 Sun International Limited announced that they will report fiscal year 2020 results on Mar 15, 2021 Announcement • Feb 25
An unknown buyer acquired an unknown stake in Sun International Limited (JSE:SUI) from clients of Allan Gray. An unknown buyer acquired an unknown stake in Sun International Limited (JSE:SUI) from clients of Allan Gray on February 23, 2021. As a result of the transaction, clients of Allan Gray now holds a 24.873% stake in Sun International Limited.
An unknown buyer completed the acquisition of an unknown stake in Sun International Limited (JSE:SUI) from clients of Allan Gray on February 23, 2021. Is New 90 Day High Low • Feb 04
New 90-day high: R15.33 The company is up 20% from its price of R12.80 on 06 November 2020. The South African market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Hospitality industry, which is up 5.0% over the same period. Is New 90 Day High Low • Dec 29
New 90-day low: R12.60 The company is down 7.0% from its price of R13.60 on 30 September 2020. The South African market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Hospitality industry, which is up 3.0% over the same period. Announcement • Nov 21
Sun International Limited Announces Appointment of Tapiwa Ngara as a Full Director Sun International Limited announced that Tapiwa Ngara, who had previously been appointed as an alternate non-executive director to Sam Sithole on the Sun International Board, has been appointed as a full director with effect from November 20, 2020. Tapiwa currently serves as an Investment Director and member of the Investment Committee at Value Capital Partners (Pty) Ltd. Previously, he fulfilled the roles as Group Corporate Development Manager at Vivo Energy Plc in the UK, and as an investment banker at Goldman Sachs based in London. Announcement • Oct 13
An unknown buyer acquired an unknown stake in Sun International Limited (JSE:SUI) from clients of Steyn Capital Management (Pty) Ltd. An unknown buyer acquired an unknown stake in Sun International Limited (JSE:SUI) from clients of Steyn Capital Management (Pty) Ltd on October 6, 2020. As a result of the transaction, clients of Steyn Capital Management (Pty) Ltd now holds a 8.956% stake in Sun International Limited.
An unknown buyer completed the acquisition of an unknown stake in Sun International Limited (JSE:SUI) from clients of Steyn Capital Management (Pty) Ltd on October 6, 2020. Is New 90 Day High Low • Oct 08
New 90-day high: R15.30 The company is up 6.0% from its price of R14.50 on 10 July 2020. The South African market is down 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Hospitality industry, which is down 39% over the same period.