Sun International (SUI) FY22 – Results Snapshot

Diluted HEPS up +110.4% y-y to 223.0cps (LY: 106.0cps).
Net turnover from continuing operations increased by +35.6% y-y to R11 302m (LY: R8 334m). Turnover from net gaming wins increased by +35.7% y-y to R8 997m (LY: R6 632m). Turnover from other revenue increased by +35.4% y-y to R2 305m (LY: 1 702m).
OPM increased to 21.6% (LY:15.7%).
Expenses increased by +26.1% y-y to R8 859m
(LY: R7 025m). Expense to sales decreased to 78.4% (LY:84.3%).
Dividend payments resumed in FY22 with total dividend of 329cps, on a payout ratio of 75% of adjusted HEPS (433cps).
Cash generated from operating activities up +91.7% y-y to R3 247m (LY: R1 709m).