Duyuru • Jun 05
Reunert Limited Announces Appointment of Dr Elizabeth Botha as Independent Non-Executive Director, Member of the Risk Committee and the Social, Ethics and Transformation Committee, Effective July 1, 2026 Reunert Limited had announced that Dr Elizabeth (Liesbeth) Botha had been appointed as an independent non-executive director of the Board, as well as a member of the Risk Committee and the Social, Ethics and Transformation Committee with effect from July 1, 2026. Dr Botha holds a Master’s degree in Electronic Engineering from the University of Pretoria and a Doctorate in Electrical and Computer Engineering from Carnegie Mellon University. She has a distinguished career and currently serves as a non-executive director of The SPAR Group Limited and Novus Holdings Limited. Her previous appointments include Chief Digital Officer of PricewaterhouseCoopers Africa, executive director of the Council for Scientific and Industrial Research (CSIR), executive director of Innovation and Commercialisation at the University of Stellenbosch, and Council member of the University of Pretoria. Prior to her executive roles, Dr Botha was professor of Electronic and Computer Engineering at the University of Pretoria. Her extensive expertise includes fields such as artificial intelligence, data analysis, artificial neural networks and machine learning. Declared Dividend • May 25
Final dividend of R0.90 announced Shareholders will receive a dividend of R0.90. Ex-date: 24th June 2026 Payment date: 29th June 2026 Dividend yield will be 31%, which is higher than the industry average of 2.9%. Sustainability & Growth Dividend is covered by both earnings (59% earnings payout ratio) and cash flows (58% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 32% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Duyuru • Dec 19
Reunert Limited, Annual General Meeting, Feb 24, 2026 Reunert Limited, Annual General Meeting, Feb 24, 2026. Duyuru • May 30
Reunert Limited Declares Interim Dividend for the Six Months Ended 31 March 2025, Payable on 30 June 2025 Reunert Limited announced a gross interim cash dividend No. 198 of 90,0 cents per ordinary share (March 2024: 90,0 cents per ordinary share) has been declared by the Board for the six months ended 31 March 2025. Record date is 27 June 2025 and Payment date is 30 June 2025. Duyuru • Dec 20
Reunert Limited, Annual General Meeting, Feb 25, 2025 Reunert Limited, Annual General Meeting, Feb 25, 2025. Buy Or Sell Opportunity • Oct 24
Now 21% undervalued Over the last 90 days, the stock has risen 11% to €3.92. The fair value is estimated to be €4.93, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 12%. Revenue is forecast to grow by 27% in 2 years. Earnings are forecast to grow by 47% in the next 2 years. Buy Or Sell Opportunity • Sep 20
Now 20% undervalued Over the last 90 days, the stock has risen 6.1% to €3.82. The fair value is estimated to be €4.78, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 12%. Revenue is forecast to grow by 27% in 2 years. Earnings are forecast to grow by 47% in the next 2 years. Duyuru • Jul 05
Public Investment Corporation Limited acquired 2.24% stake in Reunert Limited (JSE:RLO). Public Investment Corporation Limited acquired 2.24% stake in Reunert Limited (JSE:RLO) on July 4, 2024. Following the Acquisition, the PIC now holds 16.43% stake of the total issued ordinary share capital of the Company, being an increase from the 14.19% previously held by the Public Investment Corporation.Public Investment Corporation Limited completed the acquisition of 2.24% stake in Reunert Limited (JSE:RLO) on July 4, 2024. Buy Or Sell Opportunity • Jul 02
Now 21% undervalued Over the last 90 days, the stock has risen 13% to €3.58. The fair value is estimated to be €4.55, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 12%. Revenue is forecast to grow by 27% in 2 years. Earnings are forecast to grow by 47% in the next 2 years. Buy Or Sell Opportunity • Jun 28
Now 21% undervalued Over the last 90 days, the stock has risen 11% to €3.50. The fair value is estimated to be €4.44, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 12%. Revenue is forecast to grow by 27% in 2 years. Earnings are forecast to grow by 47% in the next 2 years. Upcoming Dividend • Jun 12
Upcoming dividend of R0.90 per share Eligible shareholders must have bought the stock before 19 June 2024. Payment date: 24 June 2024. Payout ratio is a comfortable 56% and this is well supported by cash flows. Trailing yield: 5.1%. Within top quartile of German dividend payers (4.6%). Higher than average of industry peers (2.6%). Declared Dividend • May 24
Final dividend of R0.90 announced Shareholders will receive a dividend of R0.90. Ex-date: 19th June 2024 Payment date: 24th June 2024 Dividend yield will be 30%, which is higher than the industry average of 2.9%. Sustainability & Growth Dividend is covered by both earnings (57% earnings payout ratio) and cash flows (52% 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 36% to shift the payout ratio to a potentially unsustainable range, which is more than the 4.3% EPS decline seen over the last 5 years. Upcoming Dividend • Jan 17
Upcoming dividend of R2.49 per share at 5.5% yield Eligible shareholders must have bought the stock before 24 January 2024. Payment date: 29 January 2024. Payout ratio is a comfortable 57% and this is well supported by cash flows. Trailing yield: 5.5%. Within top quartile of German dividend payers (5.1%). Higher than average of industry peers (3.0%). Duyuru • Dec 01
Reunert Limited Announces Board Changes The board of directors of Reunert Limited announced the following changes to Board committees: Mr. Gavin Barry Dalgleish, an independent non-executive director member of the Board, will serve as a member of the Remuneration Committee, Risk Committee and Social, Ethics and Transformation Committee, with effect from 1 January 2024; Mr. Roeloff Jacobus (Ralph) Boëttger, an independent non-executive member of the Board, will serve as a member of the Audit Committee with effect from 1 January 2024, and will resign as a member of the Social, Ethics and Transformation Committee with effect from 31 December 2023; and Ms Tasneem Abdool-Samad, an independent non-executive member of the Board, will resign as a member of the Risk Committee, with effect from 31 December 2023. In accordance with the requirements of the Companies Act No. 71 of 2008, Mr. Dalgleish's appointment as a non-executive director, and Mr. Boëttger's appointment to the Audit Committee, will be presented to shareholders for approval at Reunert's upcoming annual general meeting. Reported Earnings • Nov 23
Full year 2023 earnings released: EPS: R5.78 (vs R5.20 in FY 2022) Full year 2023 results: EPS: R5.78 (up from R5.20 in FY 2022). Revenue: R13.8b (up 24% from FY 2022). Net income: R919.0m (up 11% from FY 2022). Profit margin: 6.7% (down from 7.4% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Duyuru • Nov 23
Reunert Limited Declares Final Cash Dividend for the Year Ended 30 September 2023, Payable on 29 January 2024 Reunert Limited announced that a gross final cash dividend No. 195 of 249.0 cents per ordinary share (September 2022: 224.0 cents per ordinary share) has been declared by the directors for the year ended 30 September 2023. The dividend has been declared from retained earnings. A dividend withholding tax of 20% will be applicable to all shareholders who are not exempt from, or who do not qualify for, a reduced rate of withholding tax. Accordingly, for those shareholders subject to withholding tax, the net dividend amounts to 199.2 cents per ordinary share (September 2022: 179.2 cents per ordinary share). The issued share capital at the declaration date is 184,969,196 ordinary shares. In compliance with the requirements of Strate Proprietary Limited and the Listings Requirements of the JSE Limited, the following dates are applicable: Last date to trade (cum dividend): 23 January 2024; First date of trading (ex-dividend): 24 January 2024; Record date: 26 January 2024; Payment date: 29 January 2024. Shareholders may not dematerialise or rematerialise their shares between 24 January 2024 and 26 January 2024, both days inclusive. Duyuru • Sep 02
Reunert Limited Appoints Mr. Gavin Dalgleish as Independent Non-Executive Director of the Board with Effect from 1 October 2023 Reunert Limited announced that Mr. Gavin Dalgleish has been appointed as an independent non-executive director of the Board with effect from 1 October 2023. Mr. Dalgleish's appointment to Board committees will be agreed with him by the Nomination and Governance Committee and announced in due course. Mr. Dalgleish holds a Master's degree in chemical engineering and has garnered over 22 years of leadership experience through various executive and management roles. Among others, he served as head of the Australia-based global technology group, AB Mauri (from 2008 to 2010). Mr. Dalgleish currently serves as the Chief Executive Officer of Illovo Sugar Africa, which business he has led since 2013. Upcoming Dividend • Jun 14
Upcoming dividend of R0.83 per share at 5.3% yield Eligible shareholders must have bought the stock before 21 June 2023. Payment date: 26 June 2023. Payout ratio is a comfortable 53% and the cash payout ratio is 84%. Trailing yield: 5.3%. Within top quartile of German dividend payers (4.7%). Higher than average of industry peers (2.7%). Duyuru • May 25
Reunert Limited Declares Gross Interim Cash Dividend for the Six Months Ended 31 March 2023 Reunert Limited announced that a gross interim cash dividend No. 194 of 83.0 cents per ordinary share (March 2022: 75.0 cents per ordinary share) has been declared by the Board for the six months ended 31 March 2023. Reported Earnings • May 25
First half 2023 earnings released: EPS: R2.59 (vs R1.96 in 1H 2022) First half 2023 results: EPS: R2.59 (up from R1.96 in 1H 2022). Revenue: R6.20b (up 21% from 1H 2022). Net income: R412.0m (up 30% from 1H 2022). Profit margin: 6.6% (up from 6.2% in 1H 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jan 11
Upcoming dividend of R2.24 per share Eligible shareholders must have bought the stock before 18 January 2023. Payment date: 23 January 2023. Payout ratio is a comfortable 57% and the cash payout ratio is 95%. Trailing yield: 5.7%. Within top quartile of German dividend payers (4.8%). Higher than average of industry peers (3.1%). Duyuru • Dec 22
Reunert Limited, Annual General Meeting, Feb 14, 2023 Reunert Limited, Annual General Meeting, Feb 14, 2023, at 10:00 South Africa Standard Time. Reported Earnings • Dec 05
Full year 2022 earnings released: EPS: R5.20 (vs R4.83 in FY 2021) Full year 2022 results: EPS: R5.20 (up from R4.83 in FY 2021). Revenue: R11.1b (up 16% from FY 2021). Net income: R827.0m (up 6.4% from FY 2021). Profit margin: 7.4% (down from 8.1% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Aug 15
Investor sentiment improved over the past week After last week's 16% share price gain to €2.66, the stock trades at a trailing P/E ratio of 9.6x. Average trailing P/E is 29x in the Industrials industry in Germany. Total loss to shareholders of 10% over the past three years. Board Change • Jul 08
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Ralph Boettgerr was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Jun 17
Upcoming dividend of R0.75 per share Eligible shareholders must have bought the stock before 22 June 2022. Payment date: 27 June 2022. Payout ratio is a comfortable 58% but the company is paying out more than the cash it is generating. Trailing yield: 6.2%. Within top quartile of German dividend payers (4.5%). Higher than average of industry peers (3.7%). Reported Earnings • May 27
First half 2022 earnings released First half 2022 results: Revenue: (down 100% from 1H 2021). Net income: (down R313.0m from profit in 1H 2021). Profit margin: (down from 6.8% in 1H 2021). The decrease in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has fallen by 17% per year, which means it is performing significantly worse than earnings. Duyuru • May 21
Reunert Limited (JSE:RLO), entered into an agreement to acquire 100% of the issued share capital of Etion Create, for R210 million. Reunert Limited (JSE:RLO), entered into an agreement to acquire 100% of the issued share capital of Etion Create, for R210 million on May 20, 2022. The value of the net assets of Etion Create as at September 30, 2021 was R159.4 million. The transaction is subject to the passing of the ordinary and special resolutions required to approve and implement the acquisition by shareholders of the seller and the approval of the acquisition by the competition authorities of South Africa. Duyuru • Feb 11
Reunert Announces Appointment of Roeloff Jacobus Boëttger an Independent Non-Executive Director from 1 March 2022 The board of directors of Reunert (the "Board") announced that Mr. Roeloff Jacobus (Ralph) Boëttger will join the Company as an independent non-executive director from 1 March 2022. Mr. Boëttger's appointment to Board committees will be finalised shortly and a SENS announcement in this regard will be published at the time. Duyuru • Feb 08
Reunert Limited Announces Appointment of Tina Eboka as Independent Non-Executive Director, Effective March 1, 2022 Reunert Limited announced that Tina Eboka will join the Company as an independent non-executive director from 1 March 2022. Ms Eboka has recently retired as Group CEO of NTP Radioisotopes SOC and vice chair of the OECD-NEA committee on medical radioisotopes. Her extensive work experience includes executive roles in the private and public sectors and industries such as banking, science/technology research, retail and manufacturing. Upcoming Dividend • Jan 12
Upcoming dividend of R2.07 per share Eligible shareholders must have bought the stock before 19 January 2022. Payment date: 24 January 2022. Payout ratio is a comfortable 57% but the company is paying out more than the cash it is generating. Trailing yield: 5.5%. Within top quartile of German dividend payers (3.3%). Higher than average of industry peers (2.6%). Reported Earnings • Dec 25
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: EPS: R4.83 (up from R0.29 in FY 2020). Revenue: R9.58b (up 19% from FY 2020). Net income: R777.0m (up R730.0m from FY 2020). Profit margin: 8.1% (up from 0.6% in FY 2020). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 5.1%. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Reported Earnings • Nov 24
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: EPS: R4.83 (up from R0.29 in FY 2020). Revenue: R9.58b (up 19% from FY 2020). Net income: R777.0m (up R730.0m from FY 2020). Profit margin: 8.1% (up from 0.6% in FY 2020). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 5.1%. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Nov 09
Investor sentiment improved over the past week After last week's 18% share price gain to €3.28, the stock trades at a trailing P/E ratio of 13.7x. Average trailing P/E is 40x in the Industrials industry in Germany. Total loss to shareholders of 11% over the past three years. Upcoming Dividend • Jun 16
Upcoming dividend of R0.70 per share Eligible shareholders must have bought the stock before 23 June 2021. Payment date: 28 June 2021. Trailing yield: 4.6%. Within top quartile of German dividend payers (3.2%). Higher than average of industry peers (2.6%). Reported Earnings • May 28
First half 2021 earnings released: EPS R1.94 (vs R1.72 loss in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: R4.61b (up 11% from 1H 2020). Net income: R313.0m (up R590.0m from 1H 2020). Profit margin: 6.8% (up from net loss in 1H 2020). Over the last 3 years on average, earnings per share has fallen by 52% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings. Duyuru • May 26
Reunert Limited Declares Final Dividend for the Six Months Ended 31 March 2021, Payable on 28 June 2021 Reunert Limited announced that a gross final cash dividend of 70.0 cents per ordinary share (March 2020: 65.0 cents per ordinary share) has been declared by the directors for the six months ended 31 March 2021. First date of trading (ex-dividend) is 23 June 2021. Record date is 25 June 2021. Payment date is 28 June 2021. Is New 90 Day High Low • Feb 06
New 90-day high: €2.40 The company is up 26% from its price of €1.90 on 06 November 2020. The German market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Industrials industry, which is up 23% over the same period. Reported Earnings • Jan 16
Full year 2020 earnings released: EPS R0.29 The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: R8.05b (down 25% from FY 2019). Net income: R47.0m (down 94% from FY 2019). Profit margin: 0.6% (down from 7.4% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has only fallen by 24% per year, which means it has not declined as severely as earnings. Duyuru • Jan 08
Reunert Limited, Annual General Meeting, Mar 26, 2021 Reunert Limited, Annual General Meeting, Mar 26, 2021. Recent Insider Transactions • Nov 27
Group CEO recently sold €85k worth of stock On the 25th of November, Alan Dickson sold around 42k shares on-market at roughly €2.03 per share. This was the largest sale by an insider in the last 3 months. This was Alan's only on-market trade for the last 12 months. Reported Earnings • Nov 25
Full year 2020 earnings released: EPS R0.29 The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: R8.05b (down 25% from FY 2019). Net income: R47.0m (down 94% from FY 2019). Profit margin: 0.6% (down from 7.4% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Nov 05
New 90-day high: €1.90 The company is up 33% from its price of €1.43 on 06 August 2020. The German market is down 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Industrials industry, which is down 6.0% over the same period. Valuation Update With 7 Day Price Move • Oct 26
Market bids up stock over the past week After last week's 21% share price gain to R1.84, the stock is trading at a trailing P/E ratio of 37.3x, up from the previous P/E ratio of 30.8x. This compares to an average P/E of 19x in the Industrials industry in Europe. Total return to shareholders over the past three years is a loss of 45%. Valuation Update With 7 Day Price Move • Oct 19
Market pulls back on stock over the past week After last week's 19% share price decline to R1.52, the stock is trading at a trailing P/E ratio of 33.6x, down from the previous P/E ratio of 41.3x. This compares to an average P/E of 20x in the Industrials industry in Europe. Total return to shareholders over the past three years is a loss of 56%. Duyuru • Oct 02
Reunert Limited Announces Management Changes The board of directors of Reunert announced the appointment of Mr. Mohamed Husain as an independent non-executive director of the Company, with effect from 1 November 2020. He will also serve as a member of the Investment Committee, Nomination & Governance Committee, and Remuneration Committee. Mr. Husain is appointed as the chair-elect of the Board and will assume this role by no later than the annual general meeting of Reunert to be held in February 2022, as agreed between the Nomination & Governance Committee, the current chair (Mr. TS Munday) and Mr. Husain. Mr. Husain will be provided with the opportunity to familiarise himself with the Board and the Reunert group of companies during the months ahead, before he succeeds to the role of chair. Mr. Husain is a practising attorney and a director of the law firm Knowles Husain Lindsay Inc. In his distinguished career, he has served in various leadership roles and gained valuable experience in a wide range of activities, including as a member of the Council of the Law Society of South Africa for 15 years and chair of Andulela Investment Holdings Limited for 10 years. He enjoys particular recognition in the fields of dispute resolution and commercial litigation. Mr. Husain recently retired from the ABSA Group Limited and ABSA Bank Limited boards, both of which he served on from 2008 to 2020 in a non-executive capacity. During his tenure at ABSA Group and ABSA Bank he served as either the chair, or a member of, various committees. He further served as the lead independent director of both ABSA Group and ABSA Bank from 2018 to June 2020. Is New 90 Day High Low • Sep 28
New 90-day low: €1.38 The company is down 25% from its price of €1.83 on 30 June 2020. The German market is up 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Industrials industry, which is up 6.0% over the same period. 
