Delta Property Fund Past Earnings Performance

Past criteria checks 0/6

Delta Property Fund has been growing earnings at an average annual rate of 15.2%, while the Office REITs industry saw earnings growing at 0.7% annually. Revenues have been declining at an average rate of 5.5% per year.

Key information

15.2%

Earnings growth rate

15.2%

EPS growth rate

Office REITs Industry Growth	4.8%
Revenue growth rate	-5.5%
Return on equity	-3.1%
Net Margin	-5.8%
Next Earnings Update	25 Nov 2024

Recent past performance updates

Recent updates

Revenue & Expenses Breakdown

How Delta Property Fund makes and spends money. Based on latest reported earnings, on an LTM basis.

Earnings and Revenue History

JSE:DLT Revenue, expenses and earnings (ZAR Millions)
Date	Revenue	Earnings	G+A Expenses
29 Feb 24	1,138	-66	96
30 Nov 23	1,152	-210	126
31 Aug 23	1,167	-354	143
31 May 23	1,192	-541	159
28 Feb 23	1,217	-728	188
30 Nov 22	1,252	-664	156
31 Aug 22	1,287	-600	123
31 May 22	1,338	-372	110
28 Feb 22	1,389	-145	97
30 Nov 21	1,409	-180	101
31 Aug 21	1,428	-216	106
31 May 21	1,418	-335	111
28 Feb 21	1,408	-454	116
30 Nov 20	1,403	-795	126
31 Aug 20	1,398	-1,135	136
31 May 20	1,427	-1,035	132
29 Feb 20	1,456	-936	129
30 Nov 19	1,452	-980	183
31 Aug 19	1,488	-470	159
31 May 19	1,498	-384	159
28 Feb 19	1,508	-298	158
30 Nov 18	1,567	547	67
31 Aug 18	1,587	837	54
31 May 18	1,597	818	54
28 Feb 18	1,608	798	53
30 Nov 17	1,647	693	63
31 Aug 17	1,686	589	73
31 May 17	1,653	612	70
28 Feb 17	1,619	635	68
30 Nov 16	1,523	739	78
31 Aug 16	1,427	842	68
31 May 16	1,354	765	65
29 Feb 16	1,281	687	63
31 Aug 15	1,112	905	62
31 May 15	1,061	997	57
28 Feb 15	1,009	1,088	51
31 Aug 14	896	1,207	57
31 May 14	775	1,111	53
28 Feb 14	654	1,016	48
30 Nov 13	503	410	36

Quality Earnings: DLT is currently unprofitable.

Growing Profit Margin: DLT is currently unprofitable.

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Earnings Trend: DLT is unprofitable, but has reduced losses over the past 5 years at a rate of 15.2% per year.

Accelerating Growth: Unable to compare DLT's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: DLT is unprofitable, making it difficult to compare its past year earnings growth to the Office REITs industry (-2.4%).

Return on Equity

High ROE: DLT has a negative Return on Equity (-3.08%), as it is currently unprofitable.

Delta Property Fund Past Earnings Performance

Past criteria checks 0/6

Key information

Recent past performance updates

Delta Property Fund Limited to Report First Half, 2025 Results on Nov 25, 2024

Delta Property Fund Limited to Report Fiscal Year 2024 Results on May 28, 2024

Full year 2023 earnings released: R1.02 loss per share (vs R0.20 loss in FY 2022)

Delta Property Fund Limited to Report Fiscal Year 2023 Results on May 29, 2023

First half 2023 earnings released: R0.43 loss per share (vs R0.21 profit in 1H 2022)

Full year 2022 earnings released: FFO: R1.39b per share (vs R0.31 in FY 2021)

Recent updates

New minor risk - Financial data availability

New major risk - Market cap size

Delta Property Fund Limited to Report First Half, 2025 Results on Nov 25, 2024

New major risk - Market cap size

High number of new directors

Delta Property Fund Limited, Annual General Meeting, Aug 29, 2024

Delta Property Fund Limited Announces Board and Committee Changes

Icebolethu Funerals Proprietary Limited agreed to acquire Lexis Nexis Building from Delta Property Fund Limited (JSE:DLT) for ZAR 37.4 million.

Dumo Motau to Retire as an Independent Non-Executive Director of Delta Property Fund Limited, Effective 1 June 2024

Delta Property Fund Limited to Report Fiscal Year 2024 Results on May 28, 2024

Delta Property Fund Limited Appoints Zwelifikile (Fikile) Mhlontlo as Executive Director, Effective 18 July 2023

Now 26% undervalued

Delta Property Fund Limited Appoints Alex Phakati as an Independent Non-Executive Director and Chairman of the Asset Liability and Investment Committee

Delta Property Fund Limited Announces Appointment of Sibongile Masinga as Permanent Chief Executive Officer

Now 22% undervalued

Delta Property Fund Limited Announces Resignation of Caswell Rampheri from Board of Directors, Effective from 30 August 2023

Delta Property Fund Limited Approves the Appointment of Mr. Zwelifikile (Fikile) Mhlontlo as Chief Financial Officer with Effect from July 18, 2023

Delta Property Fund Limited Approves the Appointment of Mr. Zwelifikile (Fikile) Mhlontlo as Executive Director with Effect from July 18, 2023

Less than half of directors are independent

Delta Property Fund Limited, Annual General Meeting, Aug 31, 2023

Delta Property Fund Limited Announces Changes to Board Committees

Full year 2023 earnings released: R1.02 loss per share (vs R0.20 loss in FY 2022)

Delta Property Fund Limited Appoints Sindi Zilwa as Independent Non-Executive Director, Effective 1 June 2023

Delta Property Fund Limited Announces Resignation of Patricia Stock from its Board of Directors

Delta Property Fund Limited to Report Fiscal Year 2023 Results on May 29, 2023

Delta Property Fund Limited Announces Resignation of Marelise de Lange as Chief Financial Officer

Less than half of directors are independent

Delta Property Fund Limited Announces Board Changes

Less than half of directors are independent

Zeder Trading Proprietary Limited entered into an agreement to acquire Standard Bank Greyville from Delta Property Fund Limited (JSE : DLT) for ZAR 44 million.

First half 2023 earnings released: R0.43 loss per share (vs R0.21 profit in 1H 2022)

Micawber 832 Proprietary Limited entered into an agreement to acquire Enterprise Park Property from Delta Property Fund Limited (JSE:DLT) for ZAR 39 million.

An unknown buyer acquired Three Properties in Bloemfontein and One Property in Kimberley from Delta Property Fund Limited (JSE:DLT) for R98.8 million.

Less than half of directors are independent

Twenty-five 15 Proprietary Limited entered into a agreement to acquire Property situated at 3 Simba Road at Sunninghill from Delta Property Fund Limited (JSE:DLT) for South African Rand 15.5 million.

Full year 2022 earnings released: FFO: R1.39b per share (vs R0.31 in FY 2021)

Delta Property Fund Limited Announces Resignation of Maditshaba Mahlari, Company Secretary Effective 31 March 2022

First half 2022 earnings released: EPS R0.21 (vs R0.13 loss in 1H 2021)

Revenue & Expenses Breakdown

Earnings and Revenue History

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Return on Equity

Return on Assets

Return on Capital Employed

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