Alan Dickson is stepping down as CEO of JSE-listed diversified technology services group Reunert after 12 years at the helm.
The company made the announcement today when it published its financial results for the year ended 30 September.
Dickson, who spent 30 years at Reunert, will be replaced by Anthonie de Beer as group chief executive officer, with effect from 1 March next year.
In a statement, the company says Dickson will be transitioning from his role as group chief executive officer on 28 February.
He will move out of his role through a well-structured and carefully managed process, with the full support of the board, it says.
Reunert notes that Dickson will formally hand over his group chief executive responsibilities on 1 March and will remain as an executive director until 31 May, to assist in ensuring a smooth handover.
The board says the group’s strategic direction and operational objectives remain unchanged. “The board expresses its deep appreciation to Alan for his outstanding leadership and unwavering commitment to the group and wishes him every success for his future,” says Reunert.
It adds that De Beer brings extensive experience investing in and leading complex and diversified businesses, with a proven record of strategic insight, operational excellence and strong leadership.
“His alignment with the group’s culture and values positions him well to lead the Reunert Group into its next phase of growth and innovation.”
Revenue slump
Meanwhile, as Dickson departs, Reunert’s 2025 continuing operations saw a slight decline in group revenue, falling 2% to R13.9 billion compared with R14.2 billion in 2024.
Headline earnings per share (HEPS) decreased 5% to 649c, though H2 FY25 HEPS showed a 6% improvement, reaching 411c.
The company declared a final dividend of 293c per share, up 6% from the prior year, reflecting steady shareholder returns.
Free cash flow remained strong at R1.17 billion, while Reunert’s net cash position rose 39% to R743 million, highlighting a robust balance sheet despite marginal revenue and earnings pressures.
The company notes the electrical engineering segment faced a challenging year due to reduced South African gross domestic fixed investment, the change in US import tariffs on South African goods, and the adverse product mix and foreign exchange impacts in Zambia. As a result, segment revenue decreased by 3% to R7.5 billion, and operating profit declined by 31% to R461 million.
It adds that the circuit breaker business retained South African market share and delivered a robust export performance, particularly into the US, where uplifted volumes support continued future growth.
In South Africa, power cable volumes fell by 9% as infrastructure investment failed to materialise. Strong cost control and lean manufacturing improved efficiencies but could not fully offset lower volumes.
The Zambian power cable and copper rod business delivered stable volumes, improved regional sales and maintained a positive operating environment, although margins were impacted by foreign exchange losses and product mix.
According to the firm, the ICT segment operated in a constrained local market characterised by extended sales cycles and weak business confidence. Revenue remained stable at R3.9 billion, while operating profit decreased by 9% to R644 million.
The business communications cluster delivered a good performance and improved operating profit, Reunert notes. The total workspace provider cluster (Nashua) produced stable results, although complementary revenues in renewable energy softened due to reduced load-shedding, it adds.
The rental-based finance cluster (Quince) performed well, delivering efficiencies that offset the impact of a lower average rental book and reduced interest rates. The solutions and systems integration cluster (iqbusiness) experienced lower customer spending, prompting a successful restructuring programme completed during the year.
The applied electronics segment revenue decreased by 7% to R2.8 billion owing to the stronger rand and reduced local demand in maintenance services. However, the quality of earnings improved significantly as segment operating profit increased by 21% to R500 million, driven by improved margins, efficient production and well managed foreign exchange positions on long-term export contracts, says the firm.
Resilient cluster
The defence cluster delivered an excellent performance, with record results in the radar and fuze businesses, says the organisation. Strong order books, improved margins and sustained international demand supported the cluster’s continued growth trajectory. The segment is well-positioned for future expansion, underpinned by strategic intellectual property co-development projects and deepened market access in the Middle East and Europe, it adds.
In the renewable energy cluster, the solar energy business achieved another year of growth, delivering higher EBITDA and strong project margins. The group increased its owned, in construction and near-financial close build-own-operate assets to 95MW, up from 78MW in 2024.
Says Dickson: “Reunert’s resilient financial performance in 2025 is underpinned by the strong second half, positive cash generation and continued strategic execution across the group. We have built meaningful momentum heading into 2026, supported by our progress in growing international income streams, strengthening our ICT offering and expanding our renewable energy footprint.
“Our strategy positions the group well for sustainable growth, and we expect solid contributions from our offshore defence and circuit breaker markets, the restructured ICT segment and the continued expansion of our renewable energy investments.”
Group CFO Mark Kathan adds: “Our cash generation remains robust, with free cash flow of R1.2 billion and a stronger net cash position of R743 million. This enables the group to fund the final dividend and continue investing in our strategic growth initiatives and operational requirements.
“Our balance sheet remains strong, supported by available headroom in our funding facilities of R1.9 billion and continued compliance with all covenants. These fundamentals provide the foundation for delivering long-term value for our shareholders.”
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