Duyuru • Dec 24
Alviva Holdings Limited, Annual General Meeting, Jan 27, 2023 Alviva Holdings Limited, Annual General Meeting, Jan 27, 2023, at 14:00 South Africa Standard Time. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 3 highly experienced directors. Independent & Non-Executive Director Mathukana Mokoka was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Nov 02
Upcoming dividend of R0.55 per share Eligible shareholders must have bought the stock before 09 November 2022. Payment date: 14 November 2022. Payout ratio is a comfortable 9.0% but the company is paying out more than the cash it is generating. Trailing yield: 2.4%. Lower than top quartile of South African dividend payers (8.9%). Higher than average of industry peers (2.1%). Reported Earnings • Sep 29
Full year 2022 earnings released: EPS: R6.14 (vs R2.67 in FY 2021) Full year 2022 results: EPS: R6.14 (up from R2.67 in FY 2021). Revenue: R23.4b (up 57% from FY 2021). Net income: R686.5m (up 111% from FY 2021). Profit margin: 2.9% (up from 2.2% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Board Change • Aug 02
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 3 highly experienced directors. Independent & Non-Executive Director Mathukana Mokoka was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Jun 30
Investor sentiment improved over the past week After last week's 19% share price gain to R22.65, the stock trades at a trailing P/E ratio of 4.4x. Average trailing P/E is 18x in the Electronic industry globally. Total returns to shareholders of 48% over the past three years. Reported Earnings • Mar 04
First half 2022 earnings: Revenues and EPS in line with analyst expectations First half 2022 results: EPS: R3.32 (up from R1.10 in 1H 2021). Revenue: R11.5b (up 52% from 1H 2021). Net income: R376.5m (up 170% from 1H 2021). Profit margin: 3.3% (up from 1.8% in 1H 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 01
Investor sentiment improved over the past week After last week's 17% share price gain to R19.90, the stock trades at a trailing P/E ratio of 7x. Average trailing P/E is 21x in the Electronic industry globally. Total returns to shareholders of 22% over the past three years. Upcoming Dividend • Nov 03
Upcoming dividend of R0.29 per share Eligible shareholders must have bought the stock before 10 November 2021. Payment date: 15 November 2021. Trailing yield: 2.0%. Lower than top quartile of South African dividend payers (7.6%). Higher than average of industry peers (1.4%). Reported Earnings • Sep 28
Full year 2021 earnings released: EPS R2.67 (vs R1.13 in FY 2020) The company reported a solid full year result with improved earnings and profit margins, although revenues were flat. Full year 2021 results: Revenue: R14.9b (flat on FY 2020). Net income: R325.8m (up 119% from FY 2020). Profit margin: 2.2% (up from 1.0% in FY 2020). Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Aug 17
Investor sentiment improved over the past week After last week's 21% share price gain to R15.46, the stock trades at a trailing P/E ratio of 12.2x. Average trailing P/E is 23x in the Electronic industry globally. Total loss to shareholders of 11% over the past three years. Is New 90 Day High Low • Mar 03
New 90-day high: R11.62 The company is up 28% from its price of R9.07 on 03 December 2020. The South African market is up 17% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 7.0% over the same period. Valuation Update With 7 Day Price Move • Jan 18
Investor sentiment improved over the past week After last week's 16% share price gain to R10.20, the stock is trading at a trailing P/E ratio of 9.1x, up from the previous P/E ratio of 7.8x. This compares to an average P/E of 27x in the Electronic industry. Total return to shareholders over the past three years is a loss of 37%. Is New 90 Day High Low • Jan 15
New 90-day high: R9.96 The company is up 19% from its price of R8.36 on 16 October 2020. The South African market is up 12% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Electronic industry, which is up 20% over the same period. Is New 90 Day High Low • Dec 18
New 90-day high: R9.70 The company is up 56% from its price of R6.22 on 18 September 2020. The South African market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 10.0% over the same period. Is New 90 Day High Low • Nov 26
New 90-day high: R9.50 The company is up 76% from its price of R5.40 on 28 August 2020. The South African market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 7.0% over the same period. Valuation Update With 7 Day Price Move • Nov 19
Market bids up stock over the past week After last week's 17% share price gain to R8.10, the stock is trading at a trailing P/E ratio of 7.2x, up from the previous P/E ratio of 6.2x. This compares to an average P/E of 25x in the Electronic industry. Total return to shareholders over the past three years is a loss of 53%. Duyuru • Nov 18
Tham Investments Proprietary Limited acquired 16.1% stake in Alviva Holdings Limited (JSE:AVV). Tham Investments Proprietary Limited acquired 16.1% stake in Alviva Holdings Limited (JSE:AVV) on November 17, 2020.
Tham Investments Proprietary Limited completed the acquisition of 16.1% stake in Alviva Holdings Limited (JSE:AVV) on November 17, 2020. Duyuru • Nov 13
Alviva Holdings Limited (JSE:AVV) agreed to acquire Tarsus Technology Group for approximately ZAR 190 million. Alviva Holdings Limited (JSE:AVV) agreed to acquire Tarsus Technology Group for approximately ZAR 190 million on November 12, 2020. Under terms ZAR 10 million payable at closing, ZAR 27.4 which may be paid prior to the closing date to the management of Tarsus or the difference between ZAR 167 million and the amount of the net asset value of Tarsus at the closing date, limited to ZAR 5 million after 6 months of the closing date, ZAR 32.8 million payable after 18 months of the closing date, ZAR 25.1 million after 30 months of the closing date. The transaction is subject to relevant approvals being obtained from the relevant competition authorities, by the closing date, the Alviva’s confirmation to the seller, in writing, that no material adverse change in respect of Tarsus, as defined in the agreement has occurred, a written agreement, incorporating the terms and conditions of the term sheet in respect of the working capital facility, is concluded between Tarsus and Investec Bank Limited, on terms reasonably acceptable to the Alviva and a written agreement, incorporating the terms and conditions of the term sheet in respect of the working capital facility, is concluded between Tarsus and Investec Bank Limited, on terms reasonably acceptable to the Alviva. As of February 28, 2020, Tarsus has net assets of approximately ZAR 190 million, profit after tax of ZAR 34.8 million. Webber Wentzel and Investec Bank Limited advised seller. Tugendhaft Wapnick Banchetti and Partners acted as legal advisor for Alviva Holdings Limited. Valuation Update With 7 Day Price Move • Nov 10
Market bids up stock over the past week After last week's 20% share price gain to R7.50, the stock is trading at a trailing P/E ratio of 6.7x, up from the previous P/E ratio of 5.5x. This compares to an average P/E of 24x in the Electronic industry. Total return to shareholders over the past three years is a loss of 59%. Valuation Update With 7 Day Price Move • Oct 30
Market pulls back on stock over the past week After last week's 20% share price decline to R7.20, the stock is trading at a trailing P/E ratio of 6.4x, down from the previous P/E ratio of 8x. This compares to an average P/E of 24x in the Electronic industry. Total return to shareholders over the past three years is a loss of 61%. Is New 90 Day High Low • Oct 20
New 90-day high: R8.55 The company is up 40% from its price of R6.11 on 22 July 2020. The South African market is down 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 3.0% over the same period. Duyuru • Oct 16
Alviva Sets Sights to Buy Tarsus Alviva Holdings Limited (JSE:AVV) said it is in talks to acquire privately owned Tarsus Distribution (Pty) Ltd. Alviva, which provides technology products and services including assembling of computers, distribution and software, said the due diligence for the potential deal had been completed and, if successfully concluded, "this transaction may have a material effect" on the share price. Alviva has not disclosed the value of the deal. Valuation Update With 7 Day Price Move • Oct 13
Market bids up stock over the past week After last week's 20% share price gain to R8.01, the stock is trading at a trailing P/E ratio of 7.1x, up from the previous P/E ratio of 5.9x. This compares to an average P/E of 25x in the Electronic industry. Total return to shareholders over the past three years is a loss of 60%. Reported Earnings • Oct 03
Full year earnings released - EPS R1.13 Over the last 12 months the company has reported total profits of R148.7m, down 62% from the prior year. Total revenue was R14.8b over the last 12 months, down 7.0% from the prior year. Profit margins were 1.0%, which is lower than the 2.5% margin from last year. The decrease in margin was driven by lower revenue. Is New 90 Day High Low • Sep 29
New 90-day high: R7.19 The company is up 10.0% from its price of R6.52 on 01 July 2020. The South African market is down 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 5.0% over the same period. 