Old Mutual Limited
Incorporated in the Republic of
South Africa
Registration number:
2017/235138/06
ISIN: ZAE000255360
LEI: 213800MON84ZWWPQCN47
JSE Share Code: OMU
JSE Share Code: OMLI
LSE Share Code: OMU
NSX Share Code: OMM
MSE Share Code: OMU
ZSE Share Code: OMU
(Old Mutual or Group)
Ref: 04/25
5 March 2025
OLD
MUTUAL TRADING STATEMENT FOR THE YEAR ENDED 31 DECEMBER
2024
Investors are advised that Old
Mutual is currently in the process of finalising its results for
the year ended 31 December 2024, which will be released on the
Stock Exchange News Service of the JSE Limited on Tuesday, 18 March
2025. This trading statement provides an indication of a range
for headline earnings per ordinary share and earnings attributable
to equity holders of the Group per ordinary share in terms of
paragraph 3.4(b) of the JSE Limited Listings Requirements compared
to the year ended 31 December 2023.
Investors are advised that the
GroupÕs key profit measures are expected to be within the ranges
outlined below:
|
Key
Performance Indicators
(R
million unless stated otherwise)
|
Estimated
%
change
|
Estimated
31
December 2024
|
Results for the year
ended
31
December 2023
|
|
Results from
operations1
|
-6% to
14%
|
7 842 to
9 511
|
8
343
|
|
Results from operations per share
(cents)
|
-3% to
17%
|
178.1 to
214.8
|
183.6
|
|
Adjusted headline
earnings2
|
4% to
24%
|
6 095 to
7 268
|
5
861
|
|
Adjusted headline earnings per share
(cents)3
|
7% to
27%
|
138.0 to
163.8
|
129.0
|
|
Headline earnings
|
10% to
30%
|
8 118 to
9 594
|
7
380
|
|
Headline earnings per share (cents)
|
13% to 33%
|
187.0 to
220.1
|
165.5
|
|
IFRS profit after tax attributable
to equity holders of the parent
|
-1% to
19%
|
6 994 to
8 407
|
7
065
|
|
Basis earnings per share (cents)
|
1% to 21%
|
160.0 to
191.7
|
158.4
|
1 Results from operations is the
primary measure of the operating business performance of the
GroupÕs segments
2 Adjusted headline earnings is the
GroupÕs primary profit metric
3 Adjusted headline earnings per
share is defined as adjusted headline earnings divided by the
weighted average number of ordinary shares adjusted to reflect the
Group's Broad-Based Black Economic Empowerment shares
Results from operations per share,
adjusted headline earnings per share, headline earnings per share
and basic earnings per share growth benefited from the share
repurchase programme implemented in 2024 which contributed to a
reduction in the weighted average number of ordinary shares to 4
353 million at 31 December 2024 (4 459 million at 31 December
2023).
We delivered solid results from
operations driven by strong performance in Old Mutual Insure,
Wealth Management and Old Mutual Investments, partially offset by
lower life profits in Personal Finance as well as our investment in
OM Bank.
Adjusted headline earnings growth
was bolstered by increased shareholder investment
returns.
In the prior year, headline earnings
included once-off hedging losses arising from the IFRS 17
transition which were excluded from adjusted headline
earnings.
The movement between IFRS profit
after tax attributable to equity holders of the parent and headline
earnings was primarily driven by the loss recognised on the
disposal of subsidiaries from the countries which
we exited as well as an impairment on an investment in an
associate. This was the main contributor to the higher level of
growth in headline earnings relative to IFRS profit
after tax attributable to equity holders of the
parent.
The financial information in this
trading statement is the responsibility of the Old Mutual Limited
Board of Directors and has not been reviewed or reported on by the
GroupÕs external auditors.
Sandton
Sponsors
|
JSE
|
Equity Sponsor: Tamela Holdings
(Proprietary) Limited
Debt Sponsor: Nedbank Corporate and
Investment Banking, a division of Nedbank Limited
|
|
Namibia
|
PSG Wealth Management (Namibia)
(Proprietary) Limited
|
|
Zimbabwe
|
Imara Capital Zimbabwe
plc
|
|
Malawi
|
Stockbrokers Malawi
Limited
|
|
Enquiries
Investor Relations
|
|
|
Langa Manqele
Head of Investor
Relations
|
M: +27 82 295 9840
E:
investorrelations@oldmutual.com
|
|
|
Communications
Wendy Tlou
M: +27 82 906 5008
Chief Communications
and Reputation Officer
E:
oldmutualnews@oldmutual.com
Notes to Editors
About Old Mutual
Old Mutual is a premium African
financial services group that offers a broad spectrum of financial
solutions to retail and corporate customers across key market
segments in 12 countries. Old Mutual's primary operations are in
Africa and it has a niche business in China. With over 179 years of
heritage across sub-Saharan Africa, Old Mutual is a crucial part of
the communities it serves as well as broader society on the
continent.
For further information on Old
Mutual and its underlying businesses, please visit the Corporate
website at www.oldmutual.com.
