Edison Investment Research - Allied Electronics Corp A (1044) Altron - Transformation plan drives margin growth

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Edison Investment Research

Richard Williamson

Altron - Transformation plan drives margin growth

Altron’s FY24 results confirmed good progress with its strategic plan, with headline EPS from continuing operations up 36% y-o-y and well ahead of our forecast. The bulk of restructuring is now complete and has already boosted operating margins from 4.9% in FY21 to 9.0% in FY24. Altron is now positioned to drive revenue and profit growth through a combination of innovation, cross-selling and ongoing operational improvements.

05/06/2024 1 EN

Underlying

Allied Electronics Corp A

Allied Electronics is an investment holding company. Co. invests in the telecommunications, multi-media, information technology and power electronics industries through its subsidiaries, Allied Technologies Limited, Bytes Technology Group (Pty) Limited and Power Technologies (Pty) Limited. Co.'s products and services are comprised of Powertech Cables, Powertech Transformers, Powertech Batteries, Crabtree, Powertech System Integrators, Turnkey substation projects, Transport and Rail Solutions, Renewable Energy Solutions, and Switchgear.

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ZAE000191342 Johannesburg Stock Exchange South Africa

Provider

Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts

Richard Williamson

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Altron - Transformation plan drives margin growth

Altron - Keeping Altron Document Solutions

Edison issues initiation on Altron (AEL): Rising star

Pan African Resources - Analysing H224 and looking forward to FY25

Greencoat Renewables - Efficient capital allocation and increasing demand

Henderson International Income Trust - Buying into the rapid spread of technology

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