Sun International (SUI) FY23 – Results Snapshot

Diluted HEPS 422.0cps (+89.2% y-y).
Net Income increased by 7.0% y-y to R12 096m. Turnover from net gaming wins increased by 3.3% y-y to R9 290m. Turnover from other revenue increased by 21.7% y-y to R2 806m.
Expenses increased by 8.3% y-y while expense-to-sales increased from 78.4% to 79.3%
OPM decreased by 90bps to 20.7%. HEPS was boosted by the recognition of the first contingent consideration of R173m relating to Dreams S.A.
Dividend of 351.0cps.
Cash generated from operating activities down 0.9% y-y to R3 218m.
Domestic leisure, conferencing and sports and events revenues continued to grow while the international leisure business recovered strongly during the year. Within the Resorts and Hotels segment, rooms and food and beverage revenue achieved exceptional growth, increasing 28.9% y-y.