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General information

Sector: Financials

The company is available at Interactive Brokers

Resilient (JSE:RES) is a Real Estate Investment Trust (REIT) which has been listed on the Johannesburg stock exchange since December 2002. It owns a portfolio of dominant regional malls and shopping centres tenanted predominantly by national retailers.

Resilient continues to develop retail centres which are both quality and yield enhancing. Strict criteria are applied in evaluating target investments including the presence of at least three national anchor tenants and major national retail groups occupying in excess of 70% of the lettable area.
In addition, Resilient owns a portfolio of listed and offshore property-related assets.
Resilient is internally asset managed with property management being outsourced to independent property management companies.



  • Bad financial results growth rate -35.6% (average between last period year over year growth for revenue and Net Income), there is slowdown compared to average historical growth rates (0.4%)
  • Dividend yield for the last twelve months 0.0%
  • Share price is 18.8% higher than minimum and 30.4% lower than maximum for the last 3 years
  • The company is undervalued by P/E LTM multiple compared to target level (5.5x vs
    )
  • Fundamental value created in LTM (estimate)

Key Financials

Share price, ZAR:  (+0.7%)43.18
Share price, USD: 2.31
Common stocks: 365 290 413

Dividend Yield:  0.0%
P/E LTM: 5.5x
Last revenue growth (y/y):  -5.5%
Last growth of Net Income (y/y):  -65.7%
Historical revenue growth:  +21.9%
Historical growth of Net Income:  +54.9%
Target P/E (hist percentile):
Fundamental value created in LTM:
P/E mutiple calculation
Market Cap ($m): 846
Net Profit ($m): 154
P/E LTM: 5.5x
Price to Book: 0.79x

Revenue and Net Income

Semi-Annual values ($m)

Change (y/y)

Share price and dividends (Download history)

Share price

Payment ZAR per share

Multiple and potential

P / E

Potential dynamics

TechCentral Headlines

Commercial solar could cut five stages of load shedding

South Africa’s commercial property industry has the potential to ease the country’s power crisis, a new study has found.

2023-06-20 16:17 +02:00
by Agency Staff

JSE:GRT JSE:RES JSE:AVI

More information for subscribed users:
detailed calculation of
Potential and Created Value,
website traffic data

Releases

2022-08-12
Unaudited consolidated financial results for the six months ended 30 June 2022 and changes to the board
2022-07-28
Further disposal of shares in NEPI Rockcastle
2022-06-30
Pre-close update and notification of an intragroup acquisition of shares
2022-06-22
General repurchase of shares
2022-06-22
Results of annual general meeting and changes to the composition of board committees
2022-06-20
Passing of independent non-executive director
2022-05-23
Market value of Lighthouse Properties p.l.c. shares in respect of the distribution
2022-05-19
Cash payment in respect of fractional entitlements for the distribution by Resilient of shares in Lighthouse
2022-04-29
Availability of integrated report, notice of AGM, no change statement and B-BBEE annual compliance report
2022-04-26
Distribution by Resilient of shares in Lighthouse Properties p.l.c.
2022-04-07
Dealings in securities by directors of the Company
2022-03-17
Audited summarised consolidated financial statements for the six months ended 31 December 2021
2022-03-16
Appointment of company secretary
2022-02-14
Further disposal of shares in NEPI Rockcastle
2022-01-27
Resignation of company secretary
2021-12-13
Dealings in securities by an associate of a director of the company
2021-11-29
Pre-close update
2021-11-24
Dealings in securities by an associate of a director of the company
2021-11-23
Dealings in securities by an associate of a director of the company
2021-11-18
Dealings in securities by an associate of a director of the company
2021-11-17
Results of AGM, change to the board of directors and notification in terms of section 45(5) of the Companies Act

SENS Announcements

2024-04-26
RES52 - Interest Payment Notification
2024-04-23
RES52 - Interesta and capital P\payment notification
2024-04-16
Dealings in securities by directors of the company
2024-04-02
RES65 RES66 - Interest Payment Notifications
2024-03-27
Resignation of company secretary
2024-03-26
RES59 - Interest Payment Notification
2024-03-14
Change to the composition of the Audit Committee
2024-03-14
BIRPIF - Financial covenants notification
2024-03-14
Audited financial results for the year ended 31 December 2023
2024-02-28
BIRPIF - Financial Covenants Notification
2024-02-27
RES53 - Interest Payment Notification
2024-02-20
RES61 RES63 - Interest Payment Notifications
2024-02-13
RES60 - Interest Payment Notification
2024-01-31
Closing of the acquisition of a retail shopping centre in Spain
2024-01-29
RES62 - Interest Payment Notification
2024-01-15
RES52 - Interest Payment Notification
2024-01-03
RES65 RES66 - Interest Payment Notifications
2023-12-21
Acquisition of a retail shopping centre in Spain
2023-12-08
RES59 - Interest Payment Notification
2023-12-06
Dealings in securities by associates of a director of the company
2023-11-30
Pre-close update
2023-11-28
RES53 RES61 RES63 - Interest Payment Notifications
2023-11-13
RES60 - Interest Payment Notification
2023-10-31
Dealings in securities by an associate of a director of the company
2023-10-23
RES62 - Interest Payment Notification
2023-10-19
RES65 RES66 - Listing of New Financial Instruments
2023-10-18
Dealings in securities by an associate of a director of the company
2023-10-16
RES52 - Interest Payment Notification
2023-10-03
RES50 - Interest and Capital Payment Notification
2023-09-20
Dealings in securities by a director and by associates of directors of the company
2023-09-18
RES59 - Interest Payment Notification
2023-09-04
Dealings in securities by an associate of a director of the company
2023-08-30
RES53 - Interest Payment Notification
2023-08-29
Dealings in securities by an associate of a director of the Company
2023-08-23
RES61 RES63 - Interest Payment Notifications
2023-08-22
TRP121: Notification of an acquisition of beneficial interest in securities
2023-08-21
RES60 - Interest Payment Notification
2023-08-16
BIRPIF - Financial Covenants Notification
2023-08-15
Disposal of shares in Hammerson plc
2023-08-15
Unaudited consolidated interim results for the six months ended 30 June 2023 and changes to the Board
2023-07-27
RES62 - Interest Payment Notification
2023-07-18
RES49 RES52 - Interest and Capital Payment Notifications
2023-06-30
RES50 - Interest Payment Notification
2023-06-22
Results of annual general meeting and notification in terms of section 45(5) of the Companies Act
2023-06-19
RES59 - Interest Payment Notification
2023-06-13
Pre-close update
2023-06-05
RES63 - Interest Payment Notification
2023-06-02
RES53 RES61 - Interest Payment Notifications
2023-05-18
RES60 - Interest Payment Notification
2023-04-28
Availability of integrated report, notice of annual general meeting, no change statement, B-BBEE annual compliance
2023-04-28
BIRPIF - Availability of the Annual Financial Statements of the Guarantor
2023-04-20
RES62 - Interest Payment Notification
2023-04-17
RES - Interest Payment Notification
2023-04-06
Dealings in securities by a company secretary
2023-04-06
RES49 RES50 - Interest Payment Notifications
2023-04-05
Dealings in securities by directors of the company
2023-03-28
General repurchase of shares
2023-03-28
RES59 - Interest Payment Notification
2023-03-27
BIRPIF - Financial Covenants Notification
2023-03-23
Provisional audited summarised consolidated financial statements for the year ended 31 December 2022
2023-03-13
RES63 - Listing of New Financial Instrument
2023-03-07
RES53 - Interest Payment Notification
2023-02-21
RES61 - Interest Payment Notification
2023-02-17
RES60 - Interest Payment Notification
2023-02-14
TRP121: Notification of disposal of beneficial interest in securities
2023-02-14
BIRPIF - Financial Covenants Notification
2023-02-09
RES59 RES60 RES62 - Listing of new financial instrument and tap issues
2023-01-24
RES52 - Interest Payment Notification
2023-01-17
RES49 - Interest Payment Notification
2023-01-10
RES50 - Interest Payment Notification
2022-12-13
RES61 - Listing of New Financial Instrument
2022-12-12
RES59 - Interest Payment Notification
2022-12-06
RES53 - Interest Payment Notification
2022-12-02
RES60 - Listing of New Financial Instrument
2022-11-08
RES41 - Interest and Capital Payment Notification
2022-10-18
RES52 - Interest Payment Notification
2022-10-17
RES49 - Interest Payment Notification
2022-10-12
RES59 - Listing of New Financial Instrument
2022-10-05
RES50 - Interest Payment Notification
2022-09-29
RES40 - Interest and Capital Payment Notification
2022-08-31
BIRPIF - Financial Covenants Notification
2022-08-31
RES53 - Interest Payment Notification
2022-08-12
Unaudited consolidated financial results for the six months ended 30 June 2022 and changes to the board
2022-08-10
RES41 - Interest Payment Notification
2022-07-28
Further disposal of shares in NEPI Rockcastle
2022-07-25
RES52 - Interest Payment Notification
2022-07-14
RES49 - Interest Payment Notification
2022-07-12
RES50 - Interest Payment Notification
2022-06-30
Pre-close update and notification of an intragroup acquisition of shares
2022-06-23
RES40 - Interest Payment Notification
2022-06-22
General repurchase of shares
2022-06-22
Results of annual general meeting and changes to the composition of board committees
2022-06-20
Passing of independent non-executive director
2022-05-31
RES53 - Interest Payment Notification
2022-05-23
Market value of Lighthouse Properties p.l.c. shares in respect of the distribution
2022-05-19
Cash payment in respect of fractional entitlements for the distribution by Resilient of shares in Lighthouse
2022-05-10
RES41 - Interest Payment Notification