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 tough South African environment, strong international growth and strategic portfolio actions offset local weakness, with robust cash generation and a 5% dividend increase. Defense and renewable energy segments delivered record results, positioning for growth in 2026.
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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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Operating profit rose 7% and profit 8% year-over-year, with strong free cash flow and a 10% dividend increase. Growth was driven by Electrical Engineering and ICT, while battery storage losses and global uncertainties remain key risks.