Board Change • May 20
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 3 highly experienced directors. Independent Non-Executive Chairman Lenamile Mophatlane was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Duyuru • Feb 13
Mustek Limited to Report First Half, 2026 Results on Feb 25, 2026 Mustek Limited announced that they will report first half, 2026 results on Feb 25, 2026 Duyuru • Oct 10
Mustek Limited, Annual General Meeting, Nov 20, 2025 Mustek Limited, Annual General Meeting, Nov 20, 2025. Location: mustek`s head office, 322 15th road, randjespark, midrand, South Africa Duyuru • Sep 17
Mustek Limited to Report Fiscal Year 2025 Results on Sep 19, 2025 Mustek Limited announced that they will report fiscal year 2025 results on Sep 19, 2025 Duyuru • Mar 03
Mustek Limited to Report First Half, 2025 Results on Mar 06, 2025 Mustek Limited announced that they will report first half, 2025 results on Mar 06, 2025 Duyuru • Oct 07
Mustek Limited, Annual General Meeting, Nov 21, 2024 Mustek Limited, Annual General Meeting, Nov 21, 2024. Location: mustek`s head office at 322, 15th road, randjespark, midrand, South Africa New Risk • Sep 24
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.2x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.2x net interest cover). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (8.3% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.3% net profit margin). Market cap is less than US$100m (€39.2m market cap, or US$43.8m). Declared Dividend • Sep 22
Dividend of R0.075 announced Shareholders will receive a dividend of R0.075. Ex-date: 9th October 2024 Payment date: 14th October 2024 Dividend yield will be 11%, which is higher than the industry average of 0.9%. Sustainability & Growth Dividend is covered by earnings (31% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 11% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 65% to shift the payout ratio to a potentially unsustainable range, which is more than the 24% EPS decline seen over the last 5 years. Reported Earnings • Sep 20
Full year 2024 earnings released: EPS: R0.37 (vs R3.77 in FY 2023) Full year 2024 results: EPS: R0.37 (down from R3.77 in FY 2023). Revenue: R8.51b (down 16% from FY 2023). Net income: R21.4m (down 90% from FY 2023). Profit margin: 0.3% (down from 2.2% in FY 2023). Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Duyuru • Sep 12
Mustek Limited to Report Fiscal Year 2024 Results on Sep 19, 2024 Mustek Limited announced that they will report fiscal year 2024 results on Sep 19, 2024 Board Change • Aug 09
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. 4 non-independent directors. Independent Non-Executive Director Pamella Marlowe 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. Duyuru • Jul 25
An undisclosed buyer acquired an unknown minority stake in Mustek Limited (JSE:MST) from Old Mutual Limited (JSE:OMU). An undisclosed buyer acquired an unknown minority stake in Mustek Limited (JSE:MST) from Old Mutual Limited (JSE:OMU) on July 24, 2024. After completion, Old Mutual now holds 4.65% stake in Mustek.
An undisclosed buyer completed the acquisition of an unknown minority stake in Mustek Limited (JSE:MST) from Old Mutual Limited (JSE:OMU) on July 24, 2024. New Risk • Jul 22
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 German stocks, typically moving 6.8% 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 Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.8% average weekly change). Market cap is less than US$100m (€30.7m market cap, or US$33.5m). Buy Or Sell Opportunity • May 17
Now 22% overvalued Over the last 90 days, the stock has fallen 33% to €0.40. The fair value is estimated to be €0.32, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has declined by 5.4%. Reported Earnings • Mar 10
First half 2024 earnings released: EPS: R0.91 (vs R2.19 in 1H 2023) First half 2024 results: EPS: R0.91 (down from R2.19 in 1H 2023). Revenue: R4.27b (down 13% from 1H 2023). Net income: R52.4m (down 60% from 1H 2023). Profit margin: 1.2% (down from 2.6% in 1H 2023). The decrease in margin was driven by lower revenue. Duyuru • Feb 24
Mustek Limited to Report First Half, 2024 Results on Mar 06, 2024 Mustek Limited announced that they will report first half, 2024 results on Mar 06, 2024 New Risk • Feb 02
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.5% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risks Paying a dividend despite having no free cash flows. Paying a dividend despite having no free cash flows. Shareholders have been diluted in the past year (2.5% increase in shares outstanding). Market cap is less than US$100m (€35.9m market cap, or US$39.0m). Upcoming Dividend • Oct 04
Upcoming dividend of R0.77 per share at 5.1% yield Eligible shareholders must have bought the stock before 11 October 2023. Payment date: 16 October 2023. Payout ratio is a comfortable 20% but the company is not cash flow positive. Trailing yield: 5.1%. Within top quartile of German dividend payers (5.0%). Higher than average of industry peers (1.8%). New Risk • Sep 23
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (€45.8m market cap, or US$48.8m). Duyuru • Sep 20
Mustek Limited Declares Final Dividend for the Year Ended 30 June 2023, Payable on 16 October 2023 Mustek Limited announced that a final dividend of 77 cents per ordinary share for the year ended 30 June 2023 is declared, payable to shareholders recorded in the books of the company at the close of business on the record date appearing below. The salient dates applicable to the final dividend are as follows: First day to trade ex dividend is 11 October 2023. Record date is 13 October 2023. Payment date is 16 October 2023. Reported Earnings • Sep 19
Full year 2023 earnings released Full year 2023 results: Revenue: R10.1b (up 14% from FY 2022). Net income: R219.6m (flat on FY 2022). Profit margin: 2.2% (down from 2.5% in FY 2022). The decrease in margin was driven by higher expenses. Duyuru • Aug 24
Mustek Limited Appoints Isaac Mophatlane as an Independent Non-Executive Director, Effective 1 September 2023 Mustek Limited announced that Mr. Isaac Mophatlane is appointed as an independent non-executive director of the company, effective 1 September 2023. Isaac started his career at Software Connexion and soon became the youngest director on the board of a listed company. Together with his late brother, Benjamin, Isaac co-founded BCX (then known as Business Connection) in 1996. In 2004 the company merged with Comparex Africa and he was then appointed as Group Executive: Client Engagement Public Sector. Isaac also fulfilled the roles of Group Executive: Innovation and Group Executive: Smart Office Connexion before becoming Group Chief Executive Officer of BCX following the passing of Benjamin. In 2015 BCX was sold to Telkom, creating the ICT services business on the African continent. Isaac co-founded the Randvest Group, a South African, majority black-owned, diversified investment holding company in 2017. Isaac has a depth of experience in building a business from a small company to a large, listed entity with operations across multiple countries, both in Africa and abroad. He has an extensive network in the ICT, Financial Services, and Retail industries in several African countries. Isaac currently serves as an independent non-executive director on the board of Pepkor Holdings Limited and is a member of the Pepkor Human Resources and Remuneration and Nomination Committees. He previously served as an independent non-executive director on the board of Exxaro Resources Limited and was a member of the Exxaro Audit Committee, the Social and Ethics Committee and the Investment Committee. Isaac is a non-executive director on the boards of several of Randvest's investments and is also deputy non-executive chairman of the Catholic Education Investment Company. Reported Earnings • Mar 10
First half 2023 earnings released: EPS: R2.19 (vs R2.33 in 1H 2022) First half 2023 results: EPS: R2.19 (down from R2.33 in 1H 2022). Revenue: R4.91b (up 17% from 1H 2022). Net income: R129.3m (down 14% from 1H 2022). Profit margin: 2.6% (down from 3.6% in 1H 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.0% p.a. on average during the next 2 years, compared to a 6.2% growth forecast for the Tech industry in Europe. 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. 4 non-independent directors. Independent Non-Executive Director Pamella Marlowe 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. Duyuru • Nov 01
Mustek Limited, Annual General Meeting, Dec 05, 2022 Mustek Limited, Annual General Meeting, Dec 05, 2022, at 10:00 South Africa Standard Time. Location: head office at 322 15th Road, Randjespark, Midrand South Africa Upcoming Dividend • Sep 28
Upcoming dividend of R0.76 per share Eligible shareholders must have bought the stock before 05 October 2022. Payment date: 10 October 2022. Payout ratio is a comfortable 22% and the cash payout ratio is 75%. Trailing yield: 5.2%. Lower than top quartile of German dividend payers (5.4%). Higher than average of industry peers (2.2%). Reported Earnings • Sep 14
Full year 2022 earnings released: EPS: R3.51 (vs R4.25 in FY 2021) Full year 2022 results: EPS: R3.51 (down from R4.25 in FY 2021). Revenue: R8.91b (up 11% from FY 2021). Net income: R220.0m (down 25% from FY 2021). Profit margin: 2.5% (down from 3.7% in FY 2021). The decrease in margin was driven by higher expenses. Board Change • Jul 24
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. 4 non-independent directors. Independent Non-Executive Director Pamella Marlowe 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. Duyuru • Jul 03
Mustek Announces Change of CEO Mustek has appointed Hein Engelbrecht as its group chief executive officer, effective 30 June 2022. Engelbrecht has been acting CEO of the company since May. The appointment comes after the untimely death of the company's founder and CEO David Kan. Kan founded Mustek South Africa in 1987 after arriving in South Africa from Taiwan. Engelbrecht joined the company in 1997 as a group financial manager and holds a BCom (honours) CA degree. Duyuru • May 26
Mustek Announces Management Changes Mustek announced that Hein Engelbrecht has been appointed as acting group chief executive officer of the PC distributor following the passing of David Kan. Duyuru • May 21
Mustek Limited Announces Demise of Its Chief Executive Officer David Kan The Board of Mustek Limited regrets to advise shareholders of the passing of the Group's much loved and respected Chief Executive Officer, David Kan on 19 May 2022. 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. 4 non-independent directors. Independent Non-Executive Director Pamella Marlowe 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. Reported Earnings • Mar 06
First half 2022 earnings: Revenues and EPS in line with analyst expectations First half 2022 results: EPS: R2.33 (up from R1.97 in 1H 2021). Revenue: R4.19b (up 13% from 1H 2021). Net income: R150.1m (up 8.7% from 1H 2021). Profit margin: 3.6% (down from 3.7% in 1H 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Reported Earnings • Sep 12
Full year 2021 earnings released: EPS R4.25 (vs R1.24 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: R8.04b (up 26% from FY 2020). Net income: R293.8m (up 238% from FY 2020). Profit margin: 3.7% (up from 1.4% in FY 2020). The increase in margin was driven by higher revenue. Duyuru • Sep 04
Mustek Limited Revises Earnings Guidance for the Year Ended 30 June 2021 Mustek Limited revised earnings guidance for the year ended 30 June 2021. For the year, the company updated headline earnings per share is expected to be between 235% and 255% higher than the previous financial year, at between 425.89 cents and 451.31 cents. Basic earnings per share is expected to be between 235% and 255% higher than the previous financial year, at between 415.57 cents and 440.38 cents where it previously assumed headline earnings per share and basic earnings per share are expected to be at least 190% higher than that reported in the previous financial year.