Reunert expects to report lower earnings at the halfway stage due to a delayed contract, lower cable sales and the continued negative performance of its battery storage business, Blue Nova Energy.
The technology group said on Wednesday it expected headline earnings per share (HEPS) for the six months to end-March to be 19%-24% lower at between 219c and 235c.
HEPS from continuing operations were expected to be 17%-22% lower at between 230c and 246c, it said.
Reunert said the results were affected by a key fuse contract in the defence cluster being deferred and resulting in the associated revenue and profit occurring in the second half of the 2025 financial year.
In addition, it experienced lower SA cable sales primarily due to delays in expected energy infrastructure investment programme.
Reunert has decided to dispose of Blue Nova Energy, its battery storage business, Blue Nova Energy, at a net loss due to its continued negative performance. This has also weighed on earnings.
Blue Nova will be classified as an asset held for sale and a discontinued operation for the current reporting period. The negative effects on HEPS and earnings per share (EPS) are estimated at 11c and 34c, respectively.
Its results are expected to be released on May 28.
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