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RAUBEX GROUP LTDRAUBEX GROUP LTDRAUBEX GROUP LTD

RAUBEX GROUP LTD

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Our opinion on the current state of RAUBEX(RBX)Raubex is a well-established construction company that started operations in 1974 and went public on the Johannesburg Stock Exchange in 2007. The company operates across three main divisions: construction, materials, and infrastructure. Recently, Raubex has diversified its portfolio in response to the reduction in road-building work, particularly from Sanral, which has significantly cut the value of the tenders it issues. This diversification includes venturing into renewable energy sectors, securing R500 million in contracts for projects such as the Droogfontein photovoltaic farm and the Copperton wind farm in the Northern Cape. Raubex has also expanded its geographical footprint beyond South Africa, with operations in Cameroon, Namibia, Botswana, and Zambia, and owns Westforce Construction in Western Australia. The company’s expansion and diversification strategy have positioned it well to capitalize on a broader range of opportunities across Africa. In addition to renewable energy projects, Raubex has seen a resurgence in contract work from the South African government and Sanral, from which it has secured R6 billion in orders. This is a testament to its robust management practices and its ability to closely control costs while maintaining a strong balance sheet. For the fiscal year ending 29th February 2024, Raubex reported a 13.8% increase in revenue and a 21.3% rise in headline earnings per share (HEPS). More impressively, the company’s order book grew by 27.5% to R25.55 billion. Detailed financial results showed significant increases in operating profit, profit before tax, and profit after tax, with group earnings attributable to owners of the parent reaching R847.6 million, up from R704.3 million in the previous year. Given its current performance and strategic initiatives, Raubex appears to be undervalued with a price-to-earnings (PE) ratio of 7.24, making it an attractive buy in periods of economic optimism or when market conditions show signs of improvement. Technically, the stock has been on an upward trend since March 2023 and recently broke through resistance at around R30 per share. It was added to the Winning Shares List (WSL) on 21st March 2024 at a price of 3031c. Overall, Raubex is positioned to benefit from any significant upswing in the South African economy, making it a compelling option for investors looking for exposure in the construction and infrastructure sectors, particularly those geared towards renewable energy and African markets.
JSE:RBX
by PDSnetSA
Our opinion on the current state of RBXRaubex (RBX) is a construction company that was started in 1974 and listed on the JSE in 2007. The company has three divisions in construction, materials, and infrastructure. Recently, with the dearth of work in road-building, especially from Sanral (who have halved the value of the tenders which they issue), the company has branched out into solar and wind energy and has won contracts worth R500m in this area, doing work on the Droogfontein photovoltaic farm and the Copperton wind farm in the Northern Cape. The company is bidding for contracts all over Africa and has benefited from the increase in contract work from the South African government, especially Sanral from whom it has won R6bn worth of orders. However, this is a well-managed company that is managing its costs closely and which has a strong balance sheet. The company has businesses in Cameroon, Namibia, Botswana, and Zambia and owns Westforce Construction in Western Australia. Raubex is one of those companies that will benefit directly from any significant improvement in the South African economy. In its results for the six months to 31st August 2023 the company reported revenue up 14,5% and headline earnings per share (HEPS) up 19,4%. Its net asset value increased to R6,04bn from the previous period's R5,8bn. The company said, "...the robust performance of the Group had been largely attributable to the successful completion of the flagship Beitbridge Border Post Project, the full year contribution from Bauba Resources (Pty) Ltd, and the solid performance of the Western Australian operations". The share looks cheap on PE of 6,37. In our view, this is a share to buy on weakness when things begin to improve in this country's economy. Technically, it was in a strong rising trend until May 2022 and since then it began falling. For the past year, since December 2022, it has been moving sideways We suggest waiting for a clear upside break above resistance at about R30 per share.
JSE:RBX
by PDSnetSA
Our opinion on the current state of RBXRaubex (RBX) is a construction company that was started in 1974 and listed on the JSE in 2007. The company has three divisions in construction, materials, and infrastructure. Recently, with the dearth of work in road-building, especially from Sanral (who have halved the value of the tenders which they issue), the company has branched out into solar and wind energy and has won contracts worth R500m in this area, doing work on the Droogfontein photovoltaic farm and the Copperton wind farm in the Northern Cape. The company is bidding for contracts all over Africa and has benefited from the increase in contract work from the South African government, especially Sanral from whom it has won R6bn worth of orders. However, this is a well-managed company that is managing its costs closely and which has a strong balance sheet. The company has businesses in Cameroon, Namibia, Botswana, and Zambia and owns Westforce Construction in Western Australia. In its results for the year to 28th February 2023 the company reported revenue up 32,2% and headline earnings per share (HEPS) up 32,1%. The company said, "The performance is largely attributable to the successful completion of our flagship Beitbridge Border Post project, a full year contribution from Bauba, while SANRAL projects in KwaZulu-Natal gained momentum. The Western Australian operations contributed 19% to the Group's total operating profit, demonstrating the robust performance of these operations". In a trading statement for the six months to 31st August 2023 the company estimated that HEPS would increase by between 15% and 20%. Raubex is one of those companies that will benefit directly from any significant improvement in the South African economy. The share looks cheap on PE of 6,54. In our view, this is a share to buy on weakness when things begin to improve in this country's economy. Technically, it was in a strong rising trend until May 2022 and since then it has been falling. We suggest waiting for a clear upside break through its downward trendline.
JSE:RBX
by PDSnetSA
$JSERBX - RAUBEX: Back In Consolidation ZoneRaubex has certainly been a frustrating stock since listing on the JSE. After trading sideways in a clear range between 2009 to 2020, the share finally broke out and rallied in what looked like a clear breakout. Sadly the share has pulled back sharply and could not turn historical resistance into support. With the construction industry still not seeing much in terms of tailwinds, its best to sit on your hands on this one.
JSE:RBX
by Loyiso_BlaqueSoros_Mpeta
RaubexThe chart is an extract from my weekly report Raubex (RBX R27.35) | The Bigger the Base The Higher In Space? | SA small and mid caps have caught a bid. Is it time for construction and roadbuilder Raubex to join the upward trend? Back in August we flagged the massive 12-year base in the share, noting that a potential upside break could see the consolidation cease and set the share up for a new bull trend. This month the share hit it's highest level since 2008 with the price action suggesting buying interest. From a long term portfolio perspective, the share can be accumulated, with further addition on a close above the resistance level. Buying range: R26.00/27.00. Stop-loss: 24.70. Monthly Chart.
JSE:RBXLong
by LD_Perspectives