South Africa · Delayed Price · Currency is ZAR · Price in ZAc Reunert Earnings Call Transcripts
Fiscal Year 2026
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First half 2026 saw marginal revenue growth but a sharp decline in operating profit, mainly due to weak cables demand and non-trading adjustments. Applied Electronics and circuit breaker exports performed strongly, while ICT showed resilience. Strategic focus remains on disciplined capital allocation and international expansion.
Fiscal Year 2025
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Despite a 2% revenue decline and 5% drop in headline EPS, strong second half performance, robust cash generation, and strategic portfolio actions drove increased dividends and set a positive outlook for 2026, with growth expected from offshore, defense, and renewable segments.
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Management highlighted strong financial growth, international expansion, and a focus on innovation and sustainability. The segment's export revenue rose to 38%, with major opportunities in infrastructure, mining, and renewable energy, supported by resilient supply chains and technical expertise.
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Revenue and profit declined in a tough macroeconomic environment, with strong export and renewable energy performance offset by local weakness and a deferred defense order. The sale of BlueNova and a robust defense order book position the group for a stronger second half.
Fiscal Year 2024
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Strong financial growth in 2024 was driven by robust Electrical Engineering and ICT segments, despite battery storage losses. Free cash flow and shareholder returns improved, with strategic progress in digital integration and renewables. Outlook for 2025 is positive, with growth weighted to the second half.