Our opinion on the current state of MAHUBE(MHB)Mahube (MHB) is an infrastructure holding company that reversed into Gaia and is involved in large-scale energy, transport, water, and sanitation projects. It is 41.35% owned by the Government Employees Pension Fund (GEPF). The company says, "Mahube Infrastructure owns five renewable energy assets – two wind farms and three solar PV (photovoltaic) farms – all of which were licensed by South Africa’s department of energy in the first round of bids of the renewable energy independent power producer procurement programme. The assets are all currently in operation, generating electricity, which they sell to Eskom in accordance with 20-year power purchase agreements."
In its results for the year to 29th February 2024, the company reported revenue of R68.2 million and headline earnings per share (HEPS) of 95.85c compared with a loss of 53.68c in the previous period. The company said, "The dividend income portion of this total revenue was R50.1 million, increasing from R18.0 million in the prior year. This increase in dividend income is attributable to healthy dividends received from our investee companies, together with two of the projects paying special dividends with their respective project refinancing."
The average value trading in the share is only R5,300, which makes it impractical for private investors.
