Reported Earnings • 13h
Full year 2026 earnings: EPS exceeds analyst expectations Full year 2026 results: EPS: R2.10 (up from R1.56 in FY 2025). Revenue: R9.72b (flat on FY 2025). Net income: R802.0m (up 36% from FY 2025). Profit margin: 8.3% (up from 6.1% in FY 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 14%. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has increased by 56% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • 22h
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to R26.95, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 14x in the IT industry globally. Total returns to shareholders of 336% over the past three years. New Risk • May 22
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended August 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported August 2025 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Annonce • Mar 06
Altron Limited Announces Resignation of Harvey Christophers as Independent Non-Executive Director and as a Member of All Board Committees, Effective March 5, 2026 Altron Limited announced that Mr. Harvey Christophers has resigned as an Independent Non-Executive Director of Altron and as a member of all Board Committees on which he served, with effect from March 5, 2026. Declared Dividend • Nov 05
First half dividend of R0.48 announced Shareholders will receive a dividend of R0.48. Ex-date: 19th November 2025 Payment date: 24th November 2025 Dividend yield will be 5.6%, which is lower than the industry average of 11%. Sustainability & Growth Dividend is covered by both earnings (55% earnings payout ratio) and cash flows (41% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 24% over the next year, which should provide support to the dividend and adequate earnings cover. Annonce • Oct 06
Altron Limited to Report First Half, 2026 Results on Nov 03, 2025 Altron Limited announced that they will report first half, 2026 results on Nov 03, 2025 Board Change • Oct 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Zukie Siyotula was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Major Estimate Revision • Sep 03
Consensus EPS estimates increase by 12%, revenue downgraded The consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast fell from R9.96b to R9.76b. EPS estimate rose from R1.17 to R1.31. Net income forecast to shrink 16% next year vs 20% growth forecast for IT industry in South Africa . Consensus price target of R28.60 unchanged from last update. Share price fell 8.3% to R18.98 over the past week. Annonce • Aug 04
Altron Limited Appoints Harvey Christophers as Independent Non-Executive Director with Effect from 1 August 2025 The Board of Altron Limited announced the appointment of Mr. Harvey Christophers ("Harvey") as an Independent Non-Executive Director with effect from 1 August 2025. Harvey brings over three decades of distinguished experience in professional services, having enjoyed a 32- year career with Deloitte where he held progressively senior roles, including leading the Risk Advisory business and serving as Lead Partner Sustainability. For 20 years, he held senior executive and board positions within the firm, including 12 years as managing director of the Western Cape (South Africa). Harvey's extensive global business and transformation leadership experience spans diverse cultures and business environments, providing him with a comprehensive understanding of international business dynamics, including associated risks and opportunities. His previous board experience includes serving as Chair of African Talent (registered in South Africa), board director of Accelerate Property Fund Limited (Cape Town), and managing board member of Deloitte (Netherlands). Harvey holds a Bachelor of Arts (Geography) (Honours) from the University of Nottingham, England, and is a Chartered Accountant (UK) qualified with the Institute of Chartered Accountants in England and Wales. The Board of Altron Limited announced the appointment of Mr. Harvey Christophers ("Harvey") as an Independent Non-Executive Director with effect from 1 August 2025. Harvey brings over three decades of distinguished experience in professional services, having enjoyed a 32- year career with Deloitte where he held progressively senior roles, including leading the Risk Advisory business and serving as Lead Partner Sustainability. For 20 years, he held senior executive and board positions within the firm, including 12 years as managing director of the Western Cape (South Africa). Harvey's extensive global business and transformation leadership experience spans diverse cultures and business environments, providing him with a comprehensive understanding of international business dynamics, including associated risks and opportunities. His previous board experience includes serving as Chair of African Talent (registered in South Africa), board director of Accelerate Property Fund Limited (Cape Town), and managing board member of Deloitte (Netherlands). Harvey holds a Bachelor of Arts (Geography) (Honours) from the University of Nottingham, England, and is a Chartered Accountant (UK) qualified with the Institute of Chartered Accountants in England and Wales. Annonce • Jun 30
Altron Limited, Annual General Meeting, Jul 31, 2025 Altron Limited, Annual General Meeting, Jul 31, 2025. Location: altron campus, wpp auditorium, block d, woodlands office park, 20 woodlands drive, woodmead, South Africa Recent Insider Transactions • Jun 17
CEO & Executive Director recently sold R16m worth of stock On the 12th of June, Werner Kapp sold around 723k shares on-market at roughly R22.55 per share. This transaction amounted to 50% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Werner's only on-market trade for the last 12 months. Reported Earnings • May 28
Full year 2025 earnings released: EPS: R1.56 (vs R1.14 in FY 2024) Full year 2025 results: EPS: R1.56 (up from R1.14 in FY 2024). Revenue: R9.70b (up 16% from FY 2024). Net income: R591.0m (up 37% from FY 2024). Profit margin: 6.1% (up from 5.2% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has only increased by 40% per year, which means it is significantly lagging earnings growth. Annonce • May 27
Altron Limited Announces Final Dividend for the Year Ended 28 February 2025, Payable on June 17, 2025 Altron Limited's Board approved a 52% increase in the final dividend to 50 cents per share (40.00 cents net of 20% dividend withholding tax) for the year ended 28 February 2025. The Board confirmed that the solvency and liquidity test as contemplated by the Companies Act, No. 71 of 2008, as amended, has been duly considered, applied, and satisfied. This is a dividend as defined in the Income Tax Act, No. 58 of 1962 and is payable from income reserves. The income tax number of the Company is 9725149711. the last day to trade cum dividend is Tuesday, June 10, 2025; trading will commence ex-dividend on Wednesday, June 11, 2025; the record date is Friday, June 13, 2025; and the final dividend payment date is Tuesday, June 17, 2025. New Risk • May 22
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended August 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported August 2024 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Annonce • May 13
Altron Limited Provides Earnings Guidance for the Fiscal Year Ended 28 February 2025 Altron Limited provided earnings guidance for the fiscal year ended 28 February 2025. For the period, the company’s earnings per share (EPS) from continuing operations is estimated to be between 151 cents and 180 cents, representing a range of an 59% and 66% an increase compared to EPS from continuing operations of 95 cents reported for the Comparative Period; and Group EPS is estimated to be between 100 cents and 105 cents, representing a increase of greater than 100% compared to Group EPS of (45) cents reported for the Comparative Period. Annonce • Feb 24
Altron Limited to Report Fiscal Year 2025 Results on May 26, 2025 Altron Limited announced that they will report fiscal year 2025 results on May 26, 2025 Annonce • Jan 29
Altron Limited Announces Changes to the Board Committees Structure Altron Limited announced that as part of the Board's ongoing efforts to optimise its governance structures, shareholders are advised of the following changes to the Altron Board committees structure, effective from 1 February 2025: The Nominations and Remuneration Committees will be combined into a single committee, henceforth referred to as the Nominations and Remuneration Committee (‘NomRemCom’) and with the following members: Dr. Phumla Mnganga (Chairperson - independent non-executive director); Mr. Grant Gelink (Member - independent non-executive director); Ms. Sharoda Rapeti (Member - independent non-executive director); and Mr. Tapiwa Ngara (Member - non-executive director). Mr. Antony Ball will step down from all Board committees but will remain as a Board member. Mr. Grigoris Kouteris will be appointed to the Investment Committee and Audit and Risk Committee, subject to confirmation by the shareholders of the Company at its next annual general meeting. Dr. Phumla Mnganga will be appointed as a member of the Social, Ethics, and Sustainability Committee, subject to confirmation by the shareholders of the Company at its next annual general meeting. Recent Insider Transactions Derivative • Nov 20
CEO & Executive Director exercised options to buy R10m worth of stock. On the 14th of November, Werner Kapp exercised options to buy 500k shares at a strike price of around R17.50, costing a total of R8.7m. This transaction amounted to 115% of their direct individual holding at the time of the trade. Since March 2024, Werner has owned 433.22k shares directly. This was the only transaction from an insider over the last 12 months. Reported Earnings • Nov 07
First half 2025 earnings released: EPS: R0.75 (vs R0.15 in 1H 2024) First half 2025 results: EPS: R0.75 (up from R0.15 in 1H 2024). Revenue: R4.89b (down 1.5% from 1H 2024). Net income: R286.0m (up 402% from 1H 2024). Profit margin: 5.8% (up from 1.1% in 1H 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 6.5% p.a. on average during the next 2 years, compared to a 8.7% growth forecast for the Global IT industry. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has only increased by 25% per year, which means it is significantly lagging earnings growth. Declared Dividend • Nov 06
First half dividend increased to R0.40 Dividend of R0.40 is 60% higher than last year. Ex-date: 20th November 2024 Payment date: 25th November 2024 Dividend yield will be 3.7%, which is lower than the industry average of 11%. Sustainability & Growth Dividend is well covered by both earnings (33% earnings payout ratio) and cash flows (27% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has remained steady over the last 5 years. Unless this trend deteriorates, it should provide adequate earnings cover for the dividend. Annonce • Oct 11
Altron Limited Provides Earnings Guidance for the Six Months Ended 31 August 2024 Altron Limited provided earnings guidance for the six months ended 31 August 2024. For the period, the company’s earnings per share (EPS) from continuing operations is estimated to be between 73 cents and 76 cents, representing a range of an 387% and 407% an increase compared to EPS from continuing operations of 15 cents reported for the Comparative Period; and Group EPS is estimated to be between 67 cents and 72 cents, representing a increase of between 177% and 183% compared to Group EPS of (87) cents reported for the Comparative Period. New Risk • Aug 08
New major risk - Revenue and earnings growth Earnings have declined by 15% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 15% per year over the past 5 years. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Annonce • Jul 31
Altron Limited to Report First Half, 2025 Results on Nov 04, 2024 Altron Limited announced that they will report first half, 2025 results on Nov 04, 2024 New Risk • Jul 19
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of South African stocks, typically moving 6.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.5% average weekly change). Annonce • Jun 29
Altron Limited, Annual General Meeting, Jul 31, 2024 Altron Limited, Annual General Meeting, Jul 31, 2024. Buy Or Sell Opportunity • Jun 07
Now 26% overvalued after recent price rise Over the last 90 days, the stock has risen 13% to R12.92. The fair value is estimated to be R10.25, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.0% over the last 3 years. Earnings per share has grown by 38%. Revenue is forecast to grow by 24% in 2 years. Earnings are forecast to grow by 13% in the next 2 years. Valuation Update With 7 Day Price Move • May 27
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to R13.20, the stock trades at a trailing P/E ratio of 11.5x. Average trailing P/E is 10x in the IT industry in Africa. Total returns to shareholders of 26% over the past three years. Declared Dividend • May 22
Final dividend increased to R0.33 Dividend of R0.33 is 74% higher than last year. Ex-date: 5th June 2024 Payment date: 10th June 2024 Dividend yield will be 4.6%, which is lower than the industry average of 11%. Sustainability & Growth Dividend is well covered by both earnings (10% earnings payout ratio) and cash flows (20% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to decline by 89% to shift the payout ratio to a potentially unsustainable range, which is more than the 8.3% EPS decline seen over the last 5 years. Reported Earnings • May 21
Full year 2024 earnings released: EPS: R1.08 (vs R0.36 in FY 2023) Full year 2024 results: EPS: R1.08 (up from R0.36 in FY 2023). Revenue: R8.34b (down 13% from FY 2023). Net income: R433.0m (up 221% from FY 2023). Profit margin: 5.2% (up from 1.4% in FY 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Annonce • May 18
Altron Limited Updates Earnings Guidance for the Year Ended 29 February 2024 Altron Limited updated earnings guidance for the year ended 29 February 2024. For the year, the company expects Earnings per share (EPS) from continuing operations is estimated to be between 107 cents and 109 cents, representing an increase of between 45% and 47% compared to 74 cents reported for the year ended 28 February 2023; and Group EPS is forecast to be (43) cents when compared to (1) cents reported for the year ended 28 February 2023. Annonce • Feb 28
Altron Limited Provides Earnings Guidance for the First Half of Fiscal Year 2024 Altron Limited provided earnings guidance for the first half of fiscal year 2024. For the period, the company expects Group HEPS is estimated to be between (21) cents and (16) cents, compared to Group HEPS of 29 cents reported for the Comparative Period, largely impacted by the Non-Cash Adjustments raised in H1 FY24; Group EPS is forecast to be at least (35) cents lower when compared to Group EPS of (1) cents reported for the Comparative Period, largely impacted by the Non-Cash Adjustments raised in H1 FY24. Annonce • Feb 27
Altron Limited to Report Fiscal Year 2024 Results on May 20, 2024 Altron Limited announced that they will report fiscal year 2024 results on May 20, 2024 Upcoming Dividend • Nov 22
Upcoming dividend of R0.25 per share at 3.5% yield Eligible shareholders must have bought the stock before 29 November 2023. Payment date: 04 December 2023. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 3.5%. Lower than top quartile of South African dividend payers (9.3%). Lower than average of industry peers (11%). Reported Earnings • Nov 17
First half 2024 earnings released: EPS: R0.38 (vs R0.38 in 1H 2023) First half 2024 results: EPS: R0.38 (down from R0.38 in 1H 2023). Revenue: R4.34b (up 4.1% from 1H 2023). Net income: R142.0m (flat on 1H 2023). Profit margin: 3.3% (down from 3.4% in 1H 2023). Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has fallen by 30% per year, which means it is significantly lagging earnings. Annonce • Nov 15
Altron Limited Announces Interim Dividend for the Six Months Ended 31 August 2023, Payable on 4 December 2023 Altron Limited announced that an interim dividend of 25.0339 cents per share (20.02712 cents net of 20% dividend withholding tax) has been declared for the six months ended 31 August 2023, payable to shareholders recorded in the register of the Company at the close of business on the record date. Last day to trade cum dividend is on 28 November 2023; Commence trading ex-dividend on 29 November 2023; Record date is on 1 December 2023; Interim Dividend Payment date on 4 December 2023. Recent Insider Transactions • Aug 14
Independent Non-Executive Director recently bought R158k worth of stock On the 10th of August, Grant Gelink bought around 20k shares on-market at roughly R7.89 per share. This transaction increased Grant's direct individual holding by 1x at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Annonce • Jul 26
Altron Limited Provides Earnings Guidance for the Six Months Ending 31 August 2023 Altron Limited provided earnings guidance for the six months ending 31 August 2023. For the period, the company’s earnings per share (EPS) from continuing operations is estimated to be between 33 cents and 40 cents, representing a range of an 11% decrease and an 8% increase compared to EPS from continuing operations of 37 cents reported for the Comparative Period; and Group EPS is estimated to be between (86) cents and (81) cents, representing a decrease of between 457% and 437% compared to Group EPS of 24 cents reported for the Comparative Period. Annonce • Jun 30
Altron Limited, Annual General Meeting, Jul 27, 2023 Altron Limited, Annual General Meeting, Jul 27, 2023, at 09:00 South Africa Standard Time. Valuation Update With 7 Day Price Move • Jun 07
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to R8.00, the stock trades at a trailing P/E ratio of 17.5x. Average forward P/E is 19x in the IT industry in Africa. Total loss to shareholders of 61% over the past three years. Upcoming Dividend • May 24
Upcoming dividend of R0.19 per share at 4.8% yield Eligible shareholders must have bought the stock before 31 May 2023. Payment date: 05 June 2023. Payout ratio is on the higher end at 84%, however this is supported by cash flows. Trailing yield: 4.8%. Lower than top quartile of South African dividend payers (9.9%). Lower than average of industry peers (8.9%). Annonce • May 17
Altron Limited Declares Final Dividend for the Financial Year Ended 28 February 2023, Payable on 5 June 2023 Altron Limited declares final dividend of 19 cents per share (15.20000 cents net of 20% dividend withholding tax) for the financial year ended 28 February 2023, payable on 5 June 2023. Record date is 2 June 2023 and Commence trading ex-dividend is 31 May 2023. Annonce • Feb 01
Altron Limited Appoints Mbali Ngcobo as Company Secretary Altron Limited announced that Ms. Mbali Ngcobo has been appointed as Altron's Company Secretary with effect from 1 February 2023. Ms. Ngcobo is an admitted attorney of the High Court with approximately 5 years of corporate law and company secretarial experience, having served in various capacities in listed corporates including, as Manager: Legal Counsel - Company Secretarial at Massmart, Company Secretary: Operations and more recently, as the Interim Company Secretary at Altron. Ms. Ngcobo holds a Bachelor of Laws (LLB Degree) from the University of KwaZulu Natal and a Masters in Corporate Law from the University of Pretoria. The Board is satisfied that Ms. Ngcobo has the requisite knowledge and experience to fulfil the role of Company Secretary and wishes her great success. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 7 non-independent directors. Independent Non-Executive Director Sharoda Rapeti was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Nov 02
Upcoming dividend of R0.16 per share Eligible shareholders must have bought the stock before 09 November 2022. Payment date: 14 November 2022. Payout ratio is on the higher end at 84%, however this is supported by cash flows. Trailing yield: 4.5%. Lower than top quartile of South African dividend payers (8.9%). Lower than average of industry peers (7.6%). Reported Earnings • Oct 25
First half 2023 earnings released: EPS: R0.36 (vs R0.094 in 1H 2022) First half 2023 results: EPS: R0.36 (up from R0.094 in 1H 2022). Revenue: R4.62b (up 30% from 1H 2022). Net income: R138.0m (up 294% from 1H 2022). Profit margin: 3.0% (up from 1.0% in 1H 2022). Revenue is expected to decline by 2.0% p.a. on average during the next 2 years, while revenues in the IT industry in Africa are expected to grow by 26%. Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has only fallen by 32% per year, which means it has not declined as severely as earnings. Reported Earnings • Jun 08
Full year 2022 earnings released: EPS: R0.20 (vs R0.29 in FY 2021) Full year 2022 results: EPS: R0.20 (down from R0.29 in FY 2021). Revenue: R7.99b (up 5.7% from FY 2021). Net income: R73.0m (down 32% from FY 2021). Profit margin: 0.9% (down from 1.4% in FY 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 49 percentage points per year, which is a significant difference in performance. Upcoming Dividend • May 25
Upcoming dividend of R0.23 per share Eligible shareholders must have bought the stock before 01 June 2022. Payment date: 06 June 2022. Payout ratio is a comfortable 52% and this is well supported by cash flows. Trailing yield: 2.4%. Lower than top quartile of South African dividend payers (7.8%). Lower than average of industry peers (7.2%). Valuation Update With 7 Day Price Move • May 19
Investor sentiment improved over the past week After last week's 16% share price gain to R9.64, the stock trades at a trailing P/E ratio of 22.8x. Average trailing P/E is 13x in the IT industry in South Africa. Total loss to shareholders of 53% over the past three years. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 7 non-independent directors. Independent Non-Executive Director Phumla Mnganga was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Mar 18
Investor sentiment improved over the past week After last week's 15% share price gain to R7.94, the stock trades at a trailing P/E ratio of 18.7x. Average trailing P/E is 13x in the IT industry in South Africa. Total loss to shareholders of 51% over the past three years. Recent Insider Transactions • Feb 04
CEO & Executive Director recently sold R8.1m worth of stock On the 2nd of February, Mteto Nyati sold around 957k shares on-market at roughly R8.45 per share. This was the largest sale by an insider in the last 3 months. Mteto has been a seller over the last 12 months, reducing personal holdings by R19m. Upcoming Dividend • Nov 03
Upcoming dividend of R0.07 per share Eligible shareholders must have bought the stock before 10 November 2021. Payment date: 15 November 2021. Trailing yield: 2.1%. Lower than top quartile of South African dividend payers (7.6%). Lower than average of industry peers (8.0%). Reported Earnings • Oct 27
First half 2022 earnings released: EPS R0.094 (vs R0.10 loss in 1H 2021) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2022 results: Revenue: R3.56b (up 1.4% from 1H 2021). Net income: R35.0m (up R73.0m from 1H 2021). Profit margin: 1.0% (up from net loss in 1H 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 59 percentage points per year, which is a significant difference in performance. Valuation Update With 7 Day Price Move • Oct 01
Investor sentiment improved over the past week After last week's 20% share price gain to R12.50, the stock trades at a trailing P/E ratio of 54.2x. Average trailing P/E is 11x in the IT industry in South Africa. Total loss to shareholders of 7.1% over the past three years. Executive Departure • Sep 15
Independent Non-Executive Director Berenice Francis has left the company On the 10th of September, Berenice Francis' tenure as Independent Non-Executive Director ended after 3.2 years in the role. We don't have any record of a personal shareholding under Berenice's name. A total of 5 executives have left over the last 12 months. The current median tenure of the management team is 1.29 years, which is considered inexperienced in the Simply Wall St Risk Model. Executive Departure • Aug 04
Independent Non-Executive Chairman Michael Leeming has left the company On the 28th of July, Michael Leeming's tenure as Independent Non-Executive Chairman ended. As of March 2021, Michael still personally held 400.56k shares (R4.0m worth at the time). A total of 4 executives have left over the last 12 months. The current median tenure of the management team is 1.21 years, which is considered inexperienced in the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Jul 07
Investor sentiment improved over the past week After last week's 20% share price gain to R10.11, the stock trades at a trailing P/E ratio of 43.7x. Average trailing P/E is 14x in the IT industry in Africa. Total loss to shareholders of 22% over the past three years. Recent Insider Transactions • Jun 11
CEO & Executive Director recently sold R11m worth of stock On the 8th of June, Mteto Nyati sold around 970k shares on-market at roughly R11.59 per share. This was the largest sale by an insider in the last 3 months. This was Mteto's only on-market trade for the last 12 months. Executive Departure • Jun 03
Chief Operating Officer Andrew Holden has left the company On the 31st of May, Andrew Holden's tenure as Chief Operating Officer ended. As of March 2021, Andrew still personally held 159.51k shares (R1.6m worth at the time). A total of 3 executives have left over the last 12 months. The current median tenure of the management team is 2.17 years. Upcoming Dividend • May 26
Upcoming dividend of R0.15 per share Eligible shareholders must have bought the stock before 02 June 2021. Payment date: 07 June 2021. Trailing yield: 4.2%. Lower than top quartile of South African dividend payers (7.6%). Lower than average of industry peers (6.9%). Reported Earnings • May 21
Full year 2021 earnings released: EPS R0.23 (vs R1.84 in FY 2020) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: R7.45b (down 56% from FY 2020). Net income: R86.0m (down 87% from FY 2020). Profit margin: 1.2% (down from 4.1% in FY 2020). Over the last 3 years on average, earnings per share has fallen by 8% per year and the company’s share price has also fallen by 8% per year. Upcoming Dividend • May 05
Upcoming dividend of R0.96 per share Eligible shareholders must have bought the stock before 12 May 2021. Payment date: 17 May 2021. Trailing yield: 4.7%. Lower than top quartile of South African dividend payers (7.6%). Lower than average of industry peers (7.0%). Annonce • Feb 02
Allied Electronics Corporation Limited Appoints P Mnganga as Member of the Remuneration and Nomination Committee Allied Electronics Corporation Limited announced that on recommendation received from the Nomination Committee, Dr. P Mnganga is appointed as a member of the Remuneration Committee and Nomination Committee with effect from 1 February 2021. Annonce • Dec 19
Allied Electronics Corporation Limited (JSE:AEL) completed the spin-off of Bytes Technology Limited. Allied Electronics Corporation Limited (JSE:AEL) agreed to spin-off Bytes Technology Group Ltd. on April 2, 2020. Transaction includes unbundling of the remaining Allied Electronics’ shareholding in Bytes UK, post the potential share offering to Allied Electronics’ shareholders. Transaction also includes constituting an independent Board of Directors for Bytes UK, the separation of Bytes UK from all group functions, concluding arrangements with the Bytes UK’s management team consistent with an independent company, and separating all Bytes UK’s operational functions to ensure a standalone operational business. Upon completion, Bytes UK will be listed on London stock exchange, with a secondary listing on the Johannesburg stock exchange. The first step in the demerger is Altron disposing of its shares in Bytes UK to newly formed entity Bytes Technology Holdco, and in return will receive convertible notes for the shares sold. The notes will be distributed in specie to Altron shareholders, subject to the group and subsidiary Altron Finance Pty Ltd keeping some of the notes to cover costs, taxes and settle some of its loan obligations. Bytes Technology Group will then apply for its shares to be admitted to trading in London and Johannesburg. While Allied Electronics will remain listed on Johannesburg stock exchange, it plans to demerge from its remaining investment in the UK. The record date for the distribution has been set to December 9, 2020. The demerger has been resolved by the Board of Allied Electronics. The demerger of Bytes UK is likely to take between nine to twelve months, depending on capital market conditions. If financial markets have not corrected by then, Allied Electronics Corporation may decide to hold off on Bytes UK’s demerger and its separate listing. As of November 2, 2020, Bytes Technology Group Ltd expects to be admitted to trading as a listed company on December 17, 2020. Rand Merchant Bank and Numis Securities Limited has been appointed as financial advisors for Allied Electronics.
Allied Electronics Corporation Limited (JSE:AEL) completed the spin-off of Bytes Technology Limited on December 17, 2020. Bytes Technology Limited has been listed on Johannesburg Stock Exchange and London Stock Exchange. Valuation Update With 7 Day Price Move • Dec 16
Investor sentiment improved over the past week After last week's 19% share price gain to R9.78, the stock is trading at a trailing P/E ratio of 4.8x, up from the previous P/E ratio of 4.1x. This compares to an average P/E of 13x in the IT industry in Africa. Total return to shareholders over the past three years is a loss of 12%. Valuation Update With 7 Day Price Move • Dec 07
Market pulls back on stock over the past week After last week's 70% share price decline to R9.15, the stock is trading at a trailing P/E ratio of 4.5x, down from the previous P/E ratio of 15.3x. This compares to an average P/E of 14x in the IT industry in Africa. Total return to shareholders over the past three years is a loss of 16%. Is New 90 Day High Low • Dec 03
New 90-day high: R34.00 The company is up 42% from its price of R24.00 on 04 September 2020. The South African market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the IT industry, which is up 33% over the same period. Annonce • Dec 01
Allied Electronics Corporation Limited Names Nicole Morgan as Company Secretary with Effect from 1 January 2021 Allied Electronics Corporation Limited announced the appointment of Ms. Nicole Morgan as the Company Secretary of the company with effect from 1 January 2021. Ms. Morgan is an admitted attorney of the High Court with approximately 11 years of corporate law and company secretarial experience, having served in various capacities in listed corporates, including Sun International Limited and Massmart Holdings Limited. Ms. Morgan holds an LLB degree from the University of Limpopo and a PGDip in Pension Funds Law from the University of the Witwatersrand. The Board is satisfied that Ms. Morgan has the requisite knowledge and experience to fulfil the role of Company Secretary and wishes her well in her role. Valuation Update With 7 Day Price Move • Nov 06
Market bids up stock over the past week After last week's 21% share price gain to R32.19, the stock is trading at a trailing P/E ratio of 15.9x, up from the previous P/E ratio of 13.2x. This compares to an average P/E of 12x in the IT industry in Africa. Total returns to shareholders over the past three years are 171%. Upcoming Dividend • Nov 04
Upcoming Dividend of R0.33 Per Share Will be paid on the 16th of November to those who are registered shareholders by the 11th of November. The trailing yield of 1.9% is below the top quartile of South African dividend payers (11%), and is lower than industry peers (3.8%). Annonce • Oct 27
Allied Electronics Corporation Limited Announces the Resignation of WK Groenewald as Group Company Secretary Allied Electronics Corporation Limited announced that Mr. WK Groenewald will step down as Group Company Secretary with effect from 30 November 2020. The process to appoint a replacement to the company secretary function is currently underway and shareholders will be advised once an appointment has been made. Is New 90 Day High Low • Oct 23
New 90-day high: R26.29 The company is up 35% from its price of R19.43 on 24 July 2020. The South African market is down 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Industrials industry, which is down 22% over the same period. Reported Earnings • Oct 23
First half earnings released Over the last 12 months the company has reported total profits of R752.0m, up 13% from the prior year. Total revenue was R17.9b over the last 12 months, up 8.2% from the prior year.