Datatec (JSE: DTCJ)

Last close As at 10/10/2024

ZAR37.69

0.07 (0.19%)

Market capitalisation

ZAR8,774m

Datatec is a South Africa-listed multinational ICT business, serving clients globally, predominantly in the networking and telecoms sectors. The group operates through three main divisions: Westcon International (distribution); Logicalis International (IT services); and Logicalis LatAm (IT services in Latin America).

Datatec has seen strong growth globally, with elevated demand for networking, cybersecurity and cloud infrastructure. Amid continuing uncertainties, there are signs that global growth is slowing but we expect established technology trends to persist.

Latest Insights

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TMT | Flash note

Datatec — Encouraging H1 across all divisions

TMT | Update

Datatec — Positive outlook for FY25

TMT | Flash note

Datatec — FY24 underlying EPS more than doubles y-o-y

Datatec_resized

Sector

TMT

Equity Analyst

Key Management

  • Ivan Dittrich

    Finance Director

  • Jens Montanana

    CEO

Balance Sheet

Forecast net debt (US$m)

206.8

Forecast gearing ratio (%)

33

Share Price Performance

Price Performance
% 1M 3M 12M
Actual 5.4 (0.8) (1.1)
Relative 0.6 (6.3) (16.9)
52 week high/low ZAR41.6/ZAR33.6

Financials

Datatec’s trading statement flags a robust performance at group level in H1. Westcon continues to deliver profit growth, Logicalis International delivered a strong increase in profitability while financial performance at Logicalis Latin America has also improved. As a result, management expects H1 underling EPS to be 11–12c, up over 50% year-on-year on a like-for-like basis. Our FY25 estimates are unchanged and look well supported.

Y/E Feb Revenue (US$m) EBITDA (US$m) PBT (US$m) EPS (fd) (c) P/E (x) P/CF (x)
2023A 5143.1 180.2 86.5 24.1 8.8 3.1
2024A 5457.9 192.1 76.5 19.7 10.7 3.2
2025E 5730.6 223.9 111.3 27.4 7.7 9.0
2026E 5991.4 239.9 127.1 31.6 6.7 3.0

Thematics

thematic

TMT

MediaWatch – Encouragements and frustrations

thematic

TMT

MediaWatch – Glimpses of positivity

thematic

TMT

MediaWatch – Rinse and repeat

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