Compiled by Chantal Marx, Pritu Makan, Tlamelo Mathakgane, and Edgar Mafoko

Transcription

1 Week AHEAD 27 April 2015 Compiled by Chantal Marx, Pritu Makan, Tlamelo Mathakgane, and Edgar Mafoko Some South African corporate earnings releases to take note of this week include: Quantum Food Holdings (Interim Results): In its last trading statement, management guided for headline earnings per share (HEPS) to increase by a minimum of 170% y/y. Management expected this strong performance to come on the back of lower maize and soya meal costs, an improvement in egg prices, and better performances from the Western Cape broiler business and the Hartebeespoort abattoir. Local Earnings Release Calendar JSE (HEPS ZAc) 2015/04/27 CRD Central Rand Gold Ltd FY14 Earnings Release /04/30 MML Metmar Ltd FY15 Earnings Release /05/01 QFH Quantum Foods Holdings Ltd 1H15 Earnings Release -- SSA corporate earnings releases to take note of this week include: One of Africa s largest healthcare companies GlaxoSmithKline Nigeria will be reporting on first quarter earnings this week with management guiding for strong full year and quarterly growth. Diversified counter UAC of Nigeria will report on first quarter earnings. The company recently announced that it plans on spanning food to real estate in order to penetrate that portion of the market. Cement Manufacturer, Lafarge Africa will be reporting on first quarter results. The cement giant recently announced that it will begin the construction of a $219 million cement plant which to be completed by 2018, providing the company with an extra one million metric tons of capacity. Consensus expects strong growth for FY15. Consumer stocks including Nestle Nigeria and breweries including Champion Breweries and Guinness Ghana Breweries will also report on first quarter results. SSA Earnings Release Calendar (HEPS LC) 2015/04/27 NB NL Nigerian Breweries PLC 1Q15 Earnings Release /04/27 WAPCO NL Lafarge Africa PLC 1Q15 Earnings Release /04/27 NSLTECH NL Secure Electronic Technology PLC FY14 Earnings Release -- Head Office: 5 Merchant Place, 9 Fredman Drive, Sandton 2196 PO Box 3359, Parklands 2121 fnbsecurities@fnb.co.za Relationship Manager: Dealing Desk: Toll Free Trading: Directors: H Mojalefa, P Dreyer, R Jayrajh, W Myers, V Naidoo. Company Secretary: C Low FNB Securities (Pty) Ltd, member of the JSE and an authorised financial services provider. Part of the FirstRand Group.

2 SSA Earnings Release Calendar (continued) (HEPS LC) 2015/04/27 HFCL KN Housing Finance Co of Kenya Ltd 1Q15 Earnings Release /04/28 FIDELITY NL Fidelity Bank PLC 1Q15 Earnings Release /04/28 MOBIL NL Mobil Nigeria PLC 1Q15 Earnings Release /04/28 UNIL GN Unilever Ghana Ltd 1Q15 Earnings Release /04/28 CAL GN CAL Bank Ltd 1Q15 Earnings Release /04/29 FIRSTALU NL First Aluminium Nigeria PLC 1Q14 Earnings Release /04/29 MULTIVER NL Multiverse PLC FY14 Earnings Release /04/29 PORT NL Portland Paints & Products Nigeria PLC 1Q15 Earnings Release /04/29 ETERNA NL Eterna PLC 1Q15 Earnings Release /04/29 FBNH NL FBN Holdings Plc 1Q15 Earnings Release /04/29 CCNN NL Cement Co Northern Nigeria PLC 1Q15 Earnings Release /04/29 CHAMPION NL Champion Breweries PLC 1Q15 Earnings Release /04/29 UBN NL Union Bank of Nigeria PLC 1Q15 Earnings Release /04/29 FIRSTALU NL First Aluminium Nigeria PLC 1Q15 Earnings Release /04/29 PBC GN Produce Buying Co Ltd 2Q15 Earnings Release /04/29 FURN BG Furniture Mart 1H15 Earnings Release /04/30 STACO NL STACO Insurance Plc 2Q14 Earnings Release /04/30 TRANSEXP NL Trans-Nationwide Express PLC 1Q15 Earnings Release /04/30 GLAXOSMI NL GlaxoSmithKline Consumer Nigeria PLC 1Q15 Earnings Release /04/30 DANGCEM NL Dangote Cement PLC 1Q15 Earnings Release /04/30 AGLEVENT NL AG Leventis & Co PLC FY14 Earnings Release /04/30 MORISON NL Morison Industries PLC 1Q15 Earnings Release /04/30 ARBICO NL Arbico PLC FY14 Earnings Release /04/30 BOCGAS NL BOC Gases PLC 1Q15 Earnings Release /04/30 NAHCO NL Nigerian Aviation Handling Co PLC 1Q15 Earnings Release /04/30 TANTALIZ NL Tantalizers PLC 1Q15 Earnings Release /04/30 PREMPAIN NL Premier Paints PLC 1Q15 Earnings Release /04/30 FCMB NL FCMB Group Plc 1Q15 Earnings Release /04/30 SKYEBANK NL Skye Bank PLC 1Q15 Earnings Release /04/30 AFRIPRUD NL Africa Prudential Registrars PLC 1Q15 Earnings Release /04/30 NESTLE NL Nestle Nigeria PLC 1Q15 Earnings Release /04/30 UACPROP NL UACN Property Development Co PLC 1Q15 Earnings Release -- 2

3 SSA Earnings Release Calendar (continued) (HEPS LC) 2015/04/30 AFROMEDI NL Afromedia Nigeria Ltd 2Q15 Earnings Release /04/30 NEIMETH NL Neimeth International Pharmaceuticals PLC 2Q15 Earnings Release /04/30 UACN NL UAC of Nigeria PLC 1Q15 Earnings Release /04/30 GCB GN Ghana Commercial Bank Ltd 1Q15 Earnings Release /04/30 CMLT GN Camelot Ghana Ltd 1Q15 Earnings Release /04/30 EBG GN Ecobank Ghana Ltd 1Q15 Earnings Release /04/30 UTB GN UT Bank Ltd 1Q15 Earnings Release /04/30 AYRTN GN Ayrton Drug Manufacturing Ltd 3Q15 Earnings Release /04/30 BOPP GN Benso Oil Palm Plantation Ltd 1Q15 Earnings Release /04/30 ACI GN African Champion Industries Ltd 1Q15 Earnings Release /04/30 GGBL GN Guinness Ghana Breweries Ltd 3Q15 Earnings Release /04/30 EXPL KN Express Kenya ltd FY14 Earnings Release /04/30 ORC/A CN Orca Exploration Group Inc 4Q14 Earnings Release /05/01 DCB TZ Dar es Salaam Community Bank 1Q15 Earnings Release -- According to FactSet, approximately 32% of the companies listed on the S&P 500 index will report on quarterly results this week. A host of well-known technology companies including Apple, Garmin and Western Digital, one of the largest computer hard disk drive manufacturers in the world, are set to report. Within the popular healthcare sector, large pharmaceutical manufacturers such as Merck & Co, Pfizer and Vertex Pharmaceuticals will also be reporting. Multinational conglomerate holding company, Berkshire Hathaway and oil producer Exxon Mobil Corp will also release quarterly results this week. Beverage manufacturer Coca-Cola, pharmacy health care provider CVS and financial services corporation VISA are set to report on quarterly earnings as well. US Summarised Earnings Release Calendar JSE 2015/04/27 LH US Laboratory Corp of America Holdings (HEPS ZAc) 1Q15 Earnings Release /04/27 ROP US Roper Industries Inc 1Q15 Earnings Release /04/27 PCL US Plum Creek Timber Co Inc 1Q15 Earnings Release /04/27 AAPL US Apple Inc 2Q15 Earnings Release /04/27 GGP US General Growth Properties Inc 1Q15 Earnings Release /04/27 AVB US AvalonBay Communities Inc 1Q15 Earnings Release /04/27 HIG US Hartford Financial Services Group Inc/The 1Q15 Earnings Release

4 US Summarised Earnings Release Calendar (continued) (HEPS LC) 2015/04/27 BXP US Boston Properties Inc 1Q15 Earnings Release /04/27 CHRW US CH Robinson Worldwide Inc 1Q15 Earnings Release /04/28 GAS US AGL Resources Inc 1Q15 Earnings Release /04/28 BMY US Bristol-Myers Squibb Co 1Q15 Earnings Release /04/28 GLW US Corning Inc 1Q15 Earnings Release /04/28 CMI US Cummins Inc 1Q15 Earnings Release /04/28 ECL US Ecolab Inc 1Q15 Earnings Release /04/28 JEC US Jacobs Engineering Group Inc 2Q15 Earnings Release /04/28 MRK US Merck & Co Inc 1Q15 Earnings Release /04/28 PH US Parker-Hannifin Corp 3Q15 Earnings Release /04/28 PFE US Pfizer Inc 1Q15 Earnings Release /04/28 UPS US United Parcel Service Inc 1Q15 Earnings Release /04/28 VLO US Valero Energy Corp 1Q15 Earnings Release /04/28 HSP US Hospira Inc 1Q15 Earnings Release /04/28 AET US Aetna Inc 1Q15 Earnings Release /04/28 CNX US CONSOL Energy Inc 1Q15 Earnings Release /04/28 F US Ford Motor Co 1Q15 Earnings Release /04/28 MAS US Masco Corp 1Q15 Earnings Release /04/28 MHFI US McGraw Hill Financial Inc 1Q15 Earnings Release /04/28 TSS US Total System Services Inc 1Q15 Earnings Release /04/28 KRFT US Kraft Foods Group Inc 1Q15 Earnings Release /04/28 OI US Owens-Illinois Inc 1Q15 Earnings Release /04/28 TE US TECO Energy Inc 1Q15 Earnings Release /04/28 WDC US Western Digital Corp 3Q15 Earnings Release /04/28 CINF US Cincinnati Financial Corp 1Q15 Earnings Release /04/28 ESRX US Express Scripts Holding Co 1Q15 Earnings Release /04/28 RRC US Range Resources Corp 1Q15 Earnings Release /04/28 EQR US Equity Residential 1Q15 Earnings Release /04/28 AKAM US Akamai Technologies Inc 1Q15 Earnings Release /04/28 GNW US Genworth Financial Inc 1Q15 Earnings Release /04/28 AFL US Aflac Inc 1Q15 Earnings Release /04/28 BSX US Boston Scientific Corp 1Q15 Earnings Release /04/28 ETR US Entergy Corp 1Q15 Earnings Release /04/28 EIX US Edison International 1Q15 Earnings Release /04/28 TXT US Textron Inc 1Q15 Earnings Release

5 US Summarised Earnings Release Calendar (continued) 2015/04/28 WAT US Waters Corp 1Q15 Earnings Release /04/28 NOV US National Oilwell Varco Inc 1Q15 Earnings Release /04/28 COH US Coach Inc 3Q15 Earnings Release /04/28 WYN US Wyndham Worldwide Corp 1Q15 Earnings Release /04/29 HES US Hess Corp 1Q15 Earnings Release /04/29 ETN US Eaton Corp PLC 1Q15 Earnings Release /04/29 GD US General Dynamics Corp 1Q15 Earnings Release /04/29 HOT US Starwood Hotels & Resorts Worldwide Inc 1Q15 Earnings Release /04/29 IP US International Paper Co 1Q15 Earnings Release /04/29 NOC US Northrop Grumman Corp 1Q15 Earnings Release /04/29 PCG US PG&E Corp 1Q15 Earnings Release /04/29 EXC US Exelon Corp 1Q15 Earnings Release /04/29 PX US Praxair Inc 1Q15 Earnings Release /04/29 TWX US Time Warner Inc 1Q15 Earnings Release /04/29 WM US Waste Management Inc 1Q15 Earnings Release /04/29 AME US AMETEK Inc 1Q15 Earnings Release /04/29 GRMN US Garmin Ltd 1Q15 Earnings Release /04/29 MWV US MeadWestvaco Corp 1Q15 Earnings Release /04/29 ADT US ADT Corp/The 2Q15 Earnings Release /04/29 HUM US Humana Inc 1Q15 Earnings Release /04/29 ANTM US Anthem Inc 1Q15 Earnings Release /04/29 CBG US CBRE Group Inc 1Q15 Earnings Release /04/29 NEE US NextEra Energy Inc 1Q15 Earnings Release /04/29 SO US Southern Co/The 1Q15 Earnings Release /04/29 MDLZ US Mondelez International Inc 1Q15 Earnings Release /04/29 AVY US Avery Dennison Corp 1Q15 Earnings Release /04/29 BEN US Franklin Resources Inc 2Q15 Earnings Release /04/29 NSC US Norfolk Southern Corp 1Q15 Earnings Release /04/29 UNM US Unum Group 1Q15 Earnings Release /04/29 O US Realty Income Corp 1Q15 Earnings Release /04/29 MAR US Marriott International Inc/MD 1Q15 Earnings Release /04/29 XL US XL Group PLC 1Q15 Earnings Release /04/29 LNC US Lincoln National Corp 1Q15 Earnings Release /04/29 VAR US Varian Medical Systems Inc 2Q15 Earnings Release

6 US Summarised Earnings Release Calendar (continued) 2015/04/29 WMB US Williams Cos Inc/The 1Q15 Earnings Release /04/29 NE US Noble Corp plc 1Q15 Earnings Release /04/29 VRTX US Vertex Pharmaceuticals Inc 1Q15 Earnings Release /04/29 MAC US Macerich Co/The 1Q15 Earnings Release /04/29 QEP US QEP Resources Inc 1Q15 Earnings Release /04/29 GT US Goodyear Tire & Rubber Co/The 1Q15 Earnings Release /04/29 HRS US Harris Corp 3Q15 Earnings Release /04/29 MUR US Murphy Oil Corp 1Q15 Earnings Release /04/29 MLM US Martin Marietta Materials Inc 1Q15 Earnings Release /04/29 LVLT US Level 3 Communications Inc 1Q15 Earnings Release /04/29 AMG US Affiliated Managers Group Inc 1Q15 Earnings Release /04/29 HCBK US Hudson City Bancorp Inc 1Q15 Earnings Release /04/29 DNB US Dun & Bradstreet Corp/The 1Q15 Earnings Release /04/29 MA US MasterCard Inc 1Q15 Earnings Release /04/29 EQIX US Equinix Inc 1Q15 Earnings Release /04/30 APD US Air Products & Chemicals Inc 2Q15 Earnings Release /04/30 ARG US Airgas Inc 4Q15 Earnings Release /04/30 ADP US Automatic Data Processing Inc 3Q15 Earnings Release /04/30 BLL US Ball Corp 1Q15 Earnings Release /04/30 CCE US Coca-Cola Enterprises Inc 1Q15 Earnings Release /04/30 CL US Colgate-Palmolive Co 1Q15 Earnings Release /04/30 HST US Host Hotels & Resorts Inc 1Q15 Earnings Release /04/30 MMC US Marsh & McLennan Cos Inc 1Q15 Earnings Release /04/30 NI US NiSource Inc 1Q15 Earnings Release /04/30 COP US ConocoPhillips 1Q15 Earnings Release /04/30 PBI US Pitney Bowes Inc 1Q15 Earnings Release /04/30 SCG US SCANA Corp 1Q15 Earnings Release /04/30 CAH US Cardinal Health Inc 3Q15 Earnings Release /04/30 ESV US Ensco PLC 1Q15 Earnings Release /04/30 BWA US BorgWarner Inc 1Q15 Earnings Release /04/30 ABC US AmerisourceBergen Corp 2Q15 Earnings Release /04/30 IRM US Iron Mountain Inc 1Q15 Earnings Release /04/30 ROK US Rockwell Automation Inc 2Q15 Earnings Release /04/30 LLL US L-3 Communications Holdings Inc 1Q15 Earnings Release

7 US Summarised Earnings Release Calendar (continued) (EPS USD) 2015/04/30 CME US CME Group Inc/IL 1Q15 Earnings Release /04/30 TWC US Time Warner Cable Inc 1Q15 Earnings Release /04/30 XEL US Xcel Energy Inc 1Q15 Earnings Release /04/30 FIS US Fidelity National Information Services Inc 1Q15 Earnings Release /04/30 MPC US Marathon Petroleum Corp 1Q15 Earnings Release /04/30 DLPH US Delphi Automotive PLC 1Q15 Earnings Release /04/30 ALLE US Allegion PLC 1Q15 Earnings Release /04/30 CI US Cigna Corp 1Q15 Earnings Release /04/30 AMT US American Tower Corp 1Q15 Earnings Release /04/30 SEE US Sealed Air Corp 1Q15 Earnings Release /04/30 MOS US Mosaic Co/The 1Q15 Earnings Release /04/30 XYL US Xylem Inc/NY 1Q15 Earnings Release /04/30 IVZ US Invesco Ltd 1Q15 Earnings Release /04/30 ZMH US Zimmer Holdings Inc 1Q15 Earnings Release /04/30 XOM US Exxon Mobil Corp 1Q15 Earnings Release /04/30 HAR US Harman International Industries Inc 3Q15 Earnings Release /04/30 PSX US Phillips 66 1Q15 Earnings Release /04/30 WU US Western Union Co/The 1Q15 Earnings Release /04/30 EMN US Eastman Chemical Co 1Q15 Earnings Release /04/30 AIG US American International Group Inc 1Q15 Earnings Release /04/30 PKI US PerkinElmer Inc 1Q15 Earnings Release /04/30 LEG US Leggett & Platt Inc 1Q15 Earnings Release /04/30 SWKS US Skyworks Solutions Inc 2Q15 Earnings Release /04/30 GILD US Gilead Sciences Inc 1Q15 Earnings Release /04/30 AIV US Apartment Investment & Management Co 1Q15 Earnings Release /04/30 FLR US Fluor Corp 1Q15 Earnings Release /04/30 V US Visa Inc 2Q15 Earnings Release /04/30 MYL US Mylan NV 1Q15 Earnings Release /04/30 PSA US Public Storage 1Q15 Earnings Release /04/30 CELG US Celgene Corp 1Q15 Earnings Release /04/30 EXPE US Expedia Inc 1Q15 Earnings Release /04/30 VIAB US Viacom Inc 2Q15 Earnings Release

8 US Summarised Earnings Release Calendar (continued) (EPS USD) 2015/05/01 AON US Aon PLC 1Q15 Earnings Release /05/01 CVS US CVS Health Corp 1Q15 Earnings Release /05/01 NWL US Newell Rubbermaid Inc 1Q15 Earnings Release /05/01 PNW US Pinnacle West Capital Corp 1Q15 Earnings Release /05/01 WY US Weyerhaeuser Co 1Q15 Earnings Release /05/01 MCO US Moody's Corp 1Q15 Earnings Release /05/01 DUK US Duke Energy Corp 1Q15 Earnings Release /05/01 LM US Legg Mason Inc 4Q15 Earnings Release /05/01 VFC US VF Corp 1Q15 Earnings Release /05/01 PEG US Public Service Enterprise Group Inc 1Q15 Earnings Release /05/01 CLX US Clorox Co/The 3Q15 Earnings Release /05/01 BRK/A US Berkshire Hathaway Inc 1Q15 Earnings Release /05/01 CVX US Chevron Corp 1Q15 Earnings Release /05/01 ES US Eversource Energy 1Q15 Earnings Release /05/01 PPL US PPL Corp 1Q15 Earnings Release /05/01 TEG US Integrys Energy Group Inc 1Q15 Earnings Release /05/01 PWR US Quanta Services Inc 1Q15 Earnings Release /05/01 SRE US Sempra Energy 1Q15 Earnings Release /05/01 ENDP US Endo International PLC 1Q15 Earnings Release /05/01 WYNN US Wynn Resorts Ltd 1Q15 Earnings Release A number of Japanese companies will be reporting this week with popular tech stocks such as Sony, Canon, Panasonic and Kyocera set to release quarterly and full year results. Bank of China, one of the five biggest state-owned commercial banks in the People s Republic of China, will be reporting first quarter earnings for 2015 with consensus guiding for a 10% drop in earnings. The parent company of Bank of China, BOC Hong Kong Holdings will also report during the week. Other big banks located in Hong Kong, namely China Construction Bank Corp and China Merchants Bank, are set to release quarterly results. Insurance counter Ping An Insurance Group is set to report earnings during the week. Discovery Holdings recently purchased 25% of Ping An Insurance in order to get exposure to two main markets in China, namely group insurance for companies and medical insurance for individuals. Asia-Pacific Summarised Earnings Release Calendar (EPS LC) 2015/04/ JP Kyocera Corp FY15 Earnings Release /04/ JP Advantest Corp FY15 Earnings Release

9 Asia-Pacific Summarised Earnings Release Calendar (continued) (EPS USD) 2015/04/ JP Canon Inc 1Q15 Earnings Release /04/ JP FANUC Corp FY15 Earnings Release /04/ JP Kikkoman Corp FY15 Earnings Release /04/ JP Komatsu Ltd FY15 Earnings Release /04/ JP Fuji Electric Co Ltd FY15 Earnings Release /04/ JP Hitachi Construction Machinery Co Ltd FY15 Earnings Release /04/ JP Tokyo Electron Ltd FY15 Earnings Release /04/ JP Osaka Gas Co Ltd FY15 Earnings Release /04/ JP Denso Corp FY15 Earnings Release /04/ JP Kawasaki Heavy Industries Ltd FY15 Earnings Release /04/ HK COSCO Pacific Ltd 1Q15 Earnings Release /04/ HK PetroChina Co Ltd 1Q15 Earnings Release /04/ HK Semiconductor Manufacturing International Corp 2015/04/ HK Guangzhou Automobile Group Co Ltd 1Q15 Earnings Release Q15 Earnings Release /04/ HK Byd Co Ltd 1Q15 Earnings Release /04/ HK Sinopharm Group Co Ltd 1Q15 Earnings Release /04/ HK China Longyuan Power Group Corp Ltd 1Q15 Earnings Release /04/ JP Kobe Steel Ltd FY15 Earnings Release /04/ JP Mitsubishi Electric Corp FY15 Earnings Release /04/ JP JTEKT Corp FY15 Earnings Release /04/ JP Kyowa Hakko Kirin Co Ltd 1Q15 Earnings Release /04/ JP Toyota Tsusho Corp FY15 Earnings Release /04/ JP Tokyo Gas Co Ltd FY15 Earnings Release /04/ JP Honda Motor Co Ltd FY15 Earnings Release /04/ JP TDK Corp FY15 Earnings Release /04/ JP Alps Electric Co Ltd FY15 Earnings Release /04/ JP Daiwa Securities Group Inc FY15 Earnings Release /04/ JP Hino Motors Ltd FY15 Earnings Release /04/ JP Mitsui Engineering & Shipbuilding Co Ltd FY15 Earnings Release

10 Asia-Pacific Summarised Earnings Release Calendar (continued) (EPS USD) 2015/04/ JP NEC Corp FY15 Earnings Release /04/ JP Nippon Steel & Sumitomo Metal Corp FY15 Earnings Release /04/ JP OKUMA Corp FY15 Earnings Release /04/ JP Shin-Etsu Chemical Co Ltd FY15 Earnings Release /04/ JP East Japan Railway Co FY15 Earnings Release /04/ JP Central Japan Railway Co FY15 Earnings Release /04/ JP NTT DOCOMO Inc FY15 Earnings Release /04/ JP Ricoh Co Ltd FY15 Earnings Release /04/ JP Chubu Electric Power Co Inc FY15 Earnings Release /04/ JP Panasonic Corp FY15 Earnings Release /04/ JP Tokyo Electric Power Co Inc FY15 Earnings Release /04/ JP Nisshin Steel Co Ltd FY15 Earnings Release /04/ HK Guangdong Investment Ltd 1Q15 Earnings Release /04/ CH Haitong Securities Co Ltd 1Q15 Earnings Release /04/ HK Agricultural Bank of China Ltd 1Q15 Earnings Release /04/ HK Jiangxi Copper Co Ltd 1Q15 Earnings Release /04/ CH China Merchants Bank Co Ltd 1Q15 Earnings Release /04/ HK Anhui Conch Cement Co Ltd 1Q15 Earnings Release /04/ HK Bank of Communications Co Ltd 1Q15 Earnings Release /04/ HK China Life Insurance Co Ltd 1Q15 Earnings Release /04/ HK China Telecom Corp Ltd 1Q15 Earnings Release /04/ HK Weichai Power Co Ltd 1Q15 Earnings Release /04/ HK China Communications Construction Co Ltd 1Q15 Earnings Release /04/ JP Kawasaki Kisen Kaisha Ltd FY15 Earnings Release /04/ JP Mitsui OSK Lines Ltd FY15 Earnings Release /04/ JP Tokuyama Corp FY15 Earnings Release /04/ JP Nippon Yusen KK FY15 Earnings Release /04/ HK Tsingtao Brewery Co Ltd 1Q15 Earnings Release /04/ CH Industrial & Commercial Bank of China Ltd 2015/04/ HK China Petroleum & Chemical Corp 1Q15 Earnings Release Q15 Earnings Release

11 Asia-Pacific Summarised Earnings Release Calendar (continued) (EPS USD) 2015/04/ HK Air China Ltd 1Q15 Earnings Release /04/ HK China Construction Bank Corp 1Q15 Earnings Release /04/ HK Bank of China Ltd 1Q15 Earnings Release /04/ HK Ping An Insurance Group Co of China Ltd 2015/04/ HK New China Life Insurance Co Ltd 2015/04/ CH China Pacific Insurance Group Co Ltd 1Q15 Earnings Release Q15 Earnings Release Q15 Earnings Release /04/ CH CITIC Securities Co Ltd 1Q15 Earnings Release /04/ HK China Oilfield Services Ltd 1Q15 Earnings Release /04/ HK China National Building Material Co Ltd 2015/04/ HK China Railway Construction Corp Ltd 1Q15 Earnings Release 0.1 1Q15 Earnings Release /04/ HK China Railway Group Ltd 1Q15 Earnings Release /04/ HK BOC Hong Kong Holdings Ltd 1Q15 Earnings Release /04/ HK MGM China Holdings Ltd 1Q15 Earnings Release /04/ JP Mitsubishi Logistics Corp FY15 Earnings Release /04/ JP Odakyu Electric Railway Co Ltd FY15 Earnings Release /04/ JP Keisei Electric Railway Co Ltd FY15 Earnings Release /04/ JP Keio Corp FY15 Earnings Release /04/ JP Tobu Railway Co Ltd FY15 Earnings Release /04/ JP Sony Corp FY15 Earnings Release /04/ JP ANA Holdings Inc FY15 Earnings Release /04/ JP Asahi Group Holdings Ltd 1Q15 Earnings Release /04/ JP FUJIFILM Holdings Corp FY15 Earnings Release /04/ JP Fujitsu Ltd FY15 Earnings Release /04/ JP Kansai Electric Power Co Inc/ The FY15 Earnings Release /04/ JP Nippon Electric Glass Co Ltd 1Q15 Earnings Release /04/ JP Nomura Holdings Inc FY15 Earnings Release /04/ JP TOTO Ltd FY15 Earnings Release /04/ JP Yamato Holdings Co Ltd FY15 Earnings Release /04/ JP Japan Tobacco Inc 1Q15 Earnings Release

12 Asia-Pacific Summarised Earnings Release Calendar (continued) 2015/04/ JP West Japan Railway Co FY15 Earnings Release /04/ JP Kirin Holdings Co Ltd 1Q15 Earnings Release /04/ JP Yamaha Corp FY15 Earnings Release /04/ JP Heiwa Real Estate Co Ltd FY15 Earnings Release /04/ JP Nitto Denko Corp FY15 Earnings Release /04/30 TEN AU Ten Network Holdings Ltd 1H15 Earnings Release /04/ HK Esprit Holdings Ltd 3Q15 Earnings Release /05/ JP ITOCHU Corp FY15 Earnings Release /05/ JP Sumitomo Corp FY15 Earnings Release /05/ JP Yahoo Japan Corp FY15 Earnings Release In Europe, international financial services provider Deutsche Bank will be reporting first quarter results. The group has stated that the first quarter has been profitable despite paying litigation costs of approximately 1.7 billion. Other banks including Barclays, Nordea Bank and Spanish banking group Banco Santander are also set to report this week. Petroleum producer Royal Dutch Shell will also be in the spotlight this week with consensus guiding for a significant drop in full year and quarterly earnings. Healthcare and agricultural products producer Bayer will also be reporting on first quarter results. Europe Summarised Earnings Release Calendar 2015/04/27 SAND SS Sandvik AB 1Q15 Earnings Release /04/27 GALP PL Galp Energia SGPS SA 1Q15 Earnings Release /04/27 AMS SW ams AG 1Q15 Earnings Release /04/27 SPM IM Saipem SpA 1Q15 Earnings Release /04/27 BKIA SM Bankia SA 1Q15 Earnings Release /04/28 PHIA NA Koninklijke Philips NV 1Q15 Earnings Release /04/28 SWEDA SS Swedbank AB 1Q15 Earnings Release /04/28 GEBN VX Geberit AG 1Q15 Earnings Release /04/28 TNET BB Telenet Group Holding NV 1Q15 Earnings Release /04/28 DAI GR Daimler AG 1Q15 Earnings Release /04/28 BP/ LN BP PLC 1Q15 Earnings Release /04/28 FP FP TOTAL SA 1Q15 Earnings Release /04/28 MAN GR MAN SE 1Q15 Earnings Release -- 12

13 Europe Summarised Earnings Release Calendar (continued) (EPS LC) 2015/04/28 KESBV FH Kesko OYJ 1Q15 Earnings Release /04/28 ASSAB SS Assa Abloy AB 1Q15 Earnings Release /04/28 ATCOA SS Atlas Copco AB 1Q15 Earnings Release /04/28 SAN SM Banco Santander SA 1Q15 Earnings Release /04/28 WTB LN Whitbread PLC FY15 Earnings Release /04/28 SCHP VX Schindler Holding AG 1Q15 Earnings Release /04/28 UPM1V FH UPM-Kymmene OYJ 1Q15 Earnings Release /04/28 MTX GR MTU Aero Engines AG 1Q15 Earnings Release /04/28 TNTE NA TNT Express NV 1Q15 Earnings Release /04/29 SHBA SS Svenska Handelsbanken AB 1Q15 Earnings Release /04/29 NHY NO Norsk Hydro ASA 1Q15 Earnings Release /04/29 CLN VX Clariant AG 1Q15 Earnings Release /04/29 MHG NO Marine Harvest ASA 1Q15 Earnings Release /04/29 NDA SS Nordea Bank AB 1Q15 Earnings Release /04/29 ABBN VX ABB Ltd 1Q15 Earnings Release /04/29 DSM NA Koninklijke DSM NV 1Q15 Earnings Release /04/29 STB NO Storebrand ASA 1Q15 Earnings Release /04/29 OUT1V FH Outokumpu OYJ 1Q15 Earnings Release /04/29 SUBC NO Subsea 7 SA 1Q15 Earnings Release /04/29 FUM1V FH Fortum OYJ 1Q15 Earnings Release /04/29 HOME LN Home Retail Group PLC FY15 Earnings Release /04/29 ORNBV FH Orion Oyj 1Q15 Earnings Release /04/29 DBK GR Deutsche Bank AG 1Q15 Earnings Release /04/29 VK FP Vallourec SA 1Q15 Earnings Release /04/29 NK FP Imerys SA 1Q15 Earnings Release /04/29 JMT PL Jeronimo Martins SGPS SA 1Q15 Earnings Release /04/29 BBVA SM Banco Bilbao Vizcaya Argentaria SA 1Q15 Earnings Release /04/29 BARC LN Barclays PLC 1Q15 Earnings Release /04/29 TFI FP Societe Television Francaise 1 1Q15 Earnings Release /04/29 IBE SM Iberdrola SA 1Q15 Earnings Release /04/29 VOW GR Volkswagen AG 1Q15 Earnings Release /04/29 NCCA SS NCC AB 1Q15 Earnings Release /04/29 GN DC GN Store Nord A/S 1Q15 Earnings Release

14 Europe Summarised Earnings Release Calendar (continued) (EPS LC) 2015/04/29 JYSK DC Jyske Bank A/S 1Q15 Earnings Release /04/29 SYDB DC Sydbank A/S 1Q15 Earnings Release /04/29 ENI IM Eni SpA 1Q15 Earnings Release /04/29 JAZ SM Jazztel PLC 1Q15 Earnings Release /04/29 DB1 GR Deutsche Boerse AG 1Q15 Earnings Release /04/29 OSR GR OSRAM Licht AG 2Q15 Earnings Release /04/29 FCAU US Fiat Chrysler Automobiles NV 1Q15 Earnings Release /04/30 BNP FP BNP Paribas SA 1Q15 Earnings Release /04/30 LG FP Lafarge SA 1Q15 Earnings Release /04/30 BAS GR BASF SE 1Q15 Earnings Release /04/30 HOLN VX Holcim Ltd 1Q15 Earnings Release /04/30 STL NO Statoil ASA 1Q15 Earnings Release /04/30 AF FP Air France-KLM 1Q15 Earnings Release /04/30 BAYN GR Bayer AG 1Q15 Earnings Release /04/30 LIN GR Linde AG 1Q15 Earnings Release /04/30 SCAB SS Svenska Cellulosa AB SCA 1Q15 Earnings Release /04/30 SAN FP Sanofi 1Q15 Earnings Release /04/30 DNB NO DNB ASA 1Q15 Earnings Release /04/30 RXL FP Rexel SA 1Q15 Earnings Release /04/30 RDSA LN Royal Dutch Shell PLC 1Q15 Earnings Release /04/30 LRE LN Lancashire Holdings Ltd 1Q15 Earnings Release /04/30 POP SM Banco Popular Espanol SA 1Q15 Earnings Release /04/30 STM IM STMicroelectronics NV 1Q15 Earnings Release /04/30 FER SM Ferrovial SA 1Q15 Earnings Release /04/30 TEN IM Tenaris SA 1Q15 Earnings Release /04/30 IAG LN International Consolidated Airlines Group SA 1Q15 Earnings Release /04/30 NOVOB DC Novo Nordisk A/S 1Q15 Earnings Release /04/30 RBS LN Royal Bank of Scotland Group PLC 1Q15 Earnings Release /04/30 SN/ LN Smith & Nephew PLC 1Q15 Earnings Release /04/30 NOK1V FH Nokia OYJ 1Q15 Earnings Release /04/30 RAND NA Randstad Holding NV 1Q15 Earnings Release /04/30 DANSKE DC Danske Bank A/S 1Q15 Earnings Release

15 Europe Summarised Earnings Release Calendar (continued) (EPS USD) 2015/04/30 FRE GR Fresenius SE & Co KGaA 1Q15 Earnings Release /04/30 FPE GR FUCHS PETROLUB SE 1Q15 Earnings Release /04/30 DSV DC DSV A/S 1Q15 Earnings Release /04/30 KPN NA Koninklijke KPN NV 1Q15 Earnings Release /04/30 SHP LN Shire PLC 1Q15 Earnings Release /04/30 FME GR Fresenius Medical Care AG & Co KGaA 1Q15 Earnings Release /04/30 REE SM Red Electrica Corp SA 1Q15 Earnings Release /04/30 SESG FP SES SA 1Q15 Earnings Release /04/30 AIR FP Airbus Group NV 1Q15 Earnings Release /04/30 BME SM Bolsas y Mercados Espanoles SHMSF SA 1Q15 Earnings Release /04/30 SREN VX Swiss Re AG 1Q15 Earnings Release /04/30 CNHI US CNH Industrial NV 1Q15 Earnings Release /05/01 SKG ID Smurfit Kappa Group PLC 1Q15 Earnings Release /05/01 LLOY LN Lloyds Banking Group PLC 1Q15 Earnings Release Thursday marks the last day to trade in PSG, Times Media Group and Efficient Group. SA Dividend Calender JSE COMPANY NAME LDT EX PAY TYPE AMOUNT EFG Efficient Group 2015/04/ /05/ /05/11 Interim ZAc 5.88 PSG PSG Group 2015/04/ /05/ /05/11 Final ZAc 145 KST PSG Konsult 2015/04/ /05/ /05/11 Final ZAc 8 TMG Times Media Group 2015/04/ /05/ /05/11 Special Cash ZAc 30 15

16 Other SA Corporate Actions JSE COMPANY NAME ACTION EVENT 2015/04/28 ACP Acucap Properties Pay Date Scheme of Arr., 1.97 GRT per ACP 2015/04/28 NHM Northam Platinum Pay Date Rights per /04/28 COHN Curro Holdings Response Deadline Call on Rights, 1 per ZAR /04/28 BEGN Beige Holdings Response Deadline Call on Rights, 1 per ZAR /04/28 ACP Acucap Properties Withdrawal Date Scheme of Arr., 1.97 GRT per ACP 2015/04/28 NHMN Northam Platinum Offer Opens Call on Rights, 1 Zambezi Platinum (RF) Ltd pref. per ZAR /04/30 POY Poynting Holdings Last Day to Trade Name Change to Alaris Holdings 2015/04/30 GIJ Gijima Group Last Day to Trade Scheme of Arr., ZAR2.20 per share 2015/04/30 AIP Adcock Ingram Last Day to Trade Tender Offer, ZAR52.00 per share 2015/04/30 COHN Curro Holdings Last Day to Trade Call on Rights, 1 per ZAR /04/30 BEGN Beige Holdings Last Day to Trade Call on Rights, 1 per ZAR0.02 Disclaimer: The information and opinions in this document are expressed in good faith and in reliance on sources believed to be credible and do not constitute advice. We take no responsibility for the accuracy or completeness of such information and our opinions are based on research and technical analysis. Investment in shares may cause exposure to certain risks, including market risk, and may therefore not be suitable for all clients. Contact your relationship manager for a personal financial analysis prior to making any investment decisions. We will not accept any responsibility for any investment decisions based only on the information and opinions contained in this document without seeking professional advice. FNB Securities (Pty) Ltd (Reg no: 1996/011732/07), a member of the JSE and an authorised financial services provider. Part of the FirstRand Group. All rights in the FTSE/JSE Africa Index Series vest in the JSE Securities Exchange South Africa ( JSE ) and in FTSE International Limited ( FTSE ) jointly. FTSE is a trade mark of the London Stock Exchange Group of Companies ( LSE ). JSE is a trade mark of the JSE.