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General information

Sector: Technology

The company is not available at Interactive Brokers

Bytes Technology Group (JSE:BYI) provides world class IT solutions & services, offering software, hardware and cloud services.

The Bytes Technology Group comprises two leading brands:

Bytes Software Services (BSS)

Bytes Software Services' customer base is made up of both private sector customers and public sector customers

Phoenix Software

Phoenix's focus is almost exclusively on public sector customers.

Byte's people are passionate, knowledgeable and customer focussed. They provide support to CIOs and IT departments of large enterprises, public sector organisations and commercial businesses to help them maximise productivity, achieve digital transformation and realise the value of their IT systems and platforms.



  • Pretty weak financial results growth rate 8.0% (average between last period year over year growth for revenue and EBITDA), there is acceleration compared to average historical growth rates (0.0%)
  • Dividend yield for the last twelve months 0.0%
  • Free cash flow yield 4.0% (LTM)
  • Share price is 47.4% higher than minimum and 27.6% lower than maximum for the last 3 years
  • The company is overvalued by EV / LTM EBITDA multiple compared to target level (21.4x vs
    )
  • Fundamental value created in LTM (estimate)

Key Financials

Share price, ZAR:  (0.0%)116.50
Share price, USD: 6.32
Common stocks: 240 343 348

Dividend Yield:  0.0%
FCF Yield LTM: 4.0%
EV / LTM EBITDA: 21.4x
Last revenue growth (y/y):  +10.6%
Last growth of EBITDA (y/y):  +5.3%
Historical revenue growth:  -8.4%
Historical growth of EBITDA:  +15.4%
Target EV / EBITDA (hist percentile):
Fundamental value created in LTM:
EV / LTM EBITDA mutiple calculation
Market Cap ($m): 1 520
Net Debt ($m): -64
EV (Enterprise Value): 1 456
EBITDA LTM ($m): 68
EV / LTM EBITDA: 21.4x
Price to Book: 19.92x

Revenue and EBITDA

Semi-Annual values ($m)

Change (y/y)

Cash Flow

FCF ($m)

Net Debt / Cash and Equivalents ($m)

Share price and dividends (Download history)

Share price

Payment ZAR per share

Multiple and potential

EV / EBITDA

Potential dynamics

TechCentral Headlines

The company buying up Altron shares

Value Capital Partners, chaired by former Brait CEO Antony Ball, recently made further big purchases of Altron shares.

2023-08-31 15:46 +02:00
by Sandra Laurence

JSE:PPH JSE:TBS JSE:BYI JSE:AVI JSE:TKG JSE:KAP JSE:JSE JSE:ADH JSE:SUI JSE:PPC JSE:BAT JSE:ADR JSE:ISA

Stewart van Graan to lead Altron on an interim basis

Stewart van Graan will replace Mteto Nyati as CEO of Altron on 1 July, albeit on an interim basis.

2022-04-19 20:05 +02:00
by Duncan McLeod

JSE:MTN JSE:BYI JSE:AVI JSE:JSE JSE:ETO

Mteto Nyati resigns as CEO of Altron

In a surprise development, Altron has announced that its CEO, Mteto Nyati, will step down at the end of June.

2022-01-11 14:24 +02:00
by Duncan McLeod

JSE:MTN JSE:BYI JSE:JSE JSE:ETO

Altron Heps to fall on Bytes disposal, weak economy

JSE-listed technology group Altron said on Wednesday that its headline earnings per share will fall by as much as 29% because of the disposal of its Bytes UK arm and weak trading conditions.

2021-04-28 08:09 +02:00
by Staff Reporter

JSE:BYI JSE:JSE JSE:MPT

Altron shareholders in dividend windfall

Altron has declared a special dividend of 96c/share after it successfully spun off Bytes as a separate listing in London and Johannesburg and ended up with more cash than it expected.

2021-04-22 16:01 +02:00
by Duncan McLeod

JSE:BYI JSE:JSE

Why Altron could unbundle Netstar next

Fresh from the successful listing of its former subsidiary, Bytes Technology Group, in the UK, could Altron look at an unbundling of Netstar next as it seeks to unlock further value for shareholders?

2020-12-17 15:40 +02:00
by Duncan McLeod

JSE:BYI JSE:AVI JSE:JSE JSE:MIX JSE:ISA

Bytes demerger created R7-billion in shareholder value: Altron

Altron on Thursday successfully listed its former subsidiary Bytes Technology Group on the main board of the London Stock Exchange, with a secondary listing on the JSE.

2020-12-17 15:35 +02:00
by Staff Reporter

JSE:BYI JSE:JSE JSE:ETO JSE:ISA

Altron to move ahead with planned London listing of Bytes

Altron has decided to move ahead with the planned listing of its Bytes UK subsidiary on the London Stock Exchange in an effort to unlock value for shareholders.

2020-10-22 18:19 +02:00
by Duncan McLeod

JSE:BYI JSE:JSE

Altron eyes London listing for key UK subsidiary

JSE-listed technology group Altron looks set to list its UK subsidiary, Bytes Technology Group, in an effort to further unlock shareholder value.

2020-04-02 17:45 +02:00
by Duncan McLeod

JSE:BYI JSE:JSE JSE:MPT JSE:ETO JSE:ISA

More information for subscribed users:
detailed calculation of
Potential and Created Value,
website traffic data

Releases

2022-07-26
Results of Annual General Meeting
2022-07-26
AGM Statement
2022-07-22
Notice of dividend currency exchange rate
2022-07-19
Update regarding the proposal of a special dividend
2022-06-23
Grant of options under Sharesave Scheme
2022-06-15
Annual Report and Accounts and Notice of Annual General Meeting
2022-06-06
Notification and public disclosure of transactions by persons discharging managerial responsibilities
2022-05-24
Audited preliminary results for the year ended 28 February 2022, proposed final and special dividends
2022-05-17
TR-1: Standard form for notification of major holdings
2022-05-10
TR-1: Standard form for notification of major holdings
2022-05-03
Director Declaration
2022-03-16
Full Year Trading Update
2022-02-16
TR-1: Standard form for notification of major holdings
2022-01-20
Notification and public disclosure of transactions by persons discharging managerial responsibilities
2022-01-17
Notification and public disclosure of transactions by persons discharging managerial responsibilities
2021-12-20
Director Declaration
2021-11-15
Notice of dividend currency exchange rate
2021-11-10
Director Declaration
2021-11-02
TR-1: Standard form for notification of major holdings
2021-10-28
Results for the six months ended 31 August 2021 and dividend declaration
2021-10-21
Directorate Change – Chief Financial Officer and Notice of Results
2021-09-14
Half Year Trading Update and Retirement of Chief Financial Officer
2021-08-11
Appointment of Independent Non-Executive Director

SENS Announcements

2024-05-10
Appointment of CEO and non-executive directors
2024-05-07
TR-1: Standard form for notification of major holdings
2024-05-02
Total Voting Rights
2024-04-15
TR-1: Standard form for notification of major holdings
2024-04-10
TR-1: Standard form for notification of major holdings
2024-04-02
Total Voting Rights
2024-03-26
TR-1: Standard form for notification of major holdings
2024-03-25
Directorate Change
2024-03-18
Update on investigation into resignation of former Chief Executive Officer
2024-03-18
Full Year Trading Update
2024-03-13
PCA Transactions – Late Notification
2024-03-01
TR-1: Standard form for notification of major holdings
2024-03-01
Total Voting Rights
2024-02-29
TR-1: Standard form for notification of major holdings
2024-02-28
TR-1: Standard form for notification of major holdings
2024-02-23
Director/PDMR Transactions – Late Notification
2024-02-21
Resignation of CEO
2024-02-01
Total Voting Rights
2024-01-31
Directorate Change
2024-01-25
TR-1: Standard form for notification of major holdings
2024-01-17
Application for additional listing of shares
2024-01-02
Total Voting Rights
2023-12-22
Notification and Public Disclosure of Transactions by Persons Discharging Managerial Responsibilities
2023-12-12
Application for Block Listing
2023-12-07
TR-1: Standard form for notification of major holdings
2023-11-29
Notification and Public Disclosure of Transactions by Persons Discharging Managerial Responsibilities
2023-11-28
Notification and Public Disclosure of Transactions by Persons Discharging Managerial Responsibilities
2023-11-27
Notification and Public Disclosure of Transactions by Persons Discharging Managerial Responsibilities
2023-11-13
Notice of dividend currency exchange rate
2023-10-26
Confirmation of Interim Dividend Timetable
2023-10-25
Results for the six months ended 31 August 2023 and declaration of cash dividend
2023-09-28
Directorate Change
2023-09-26
Half Year Trading Update
2023-09-13
TR-1: Standard form for notification of major holdings
2023-09-08
TR-1: Standard form for notification of major holdings
2023-09-06
TR-1: Standard form for notification of major holdings
2023-09-01
TR-1: Standard form for notification of major holdings
2023-08-16
TR-1: Standard form for notification of major holdings
2023-07-26
TR-1: Standard form for notification of major holdings
2023-07-25
TR-1: Standard form for Notification of Major Holdings
2023-07-14
Notification and Public Disclosure of Transactions by Persons Discharging Managerial Responsibilities
2023-07-12
Results of Annual General Meeting and Dividend Finalisation
2023-07-12
AGM Statement
2023-07-03
Notice of dividend currency exchange rate
2023-06-23
Disclosure of transaction by persons discharging managerial responsibilities
2023-06-23
Grant of options under Sharesave Scheme
2023-06-14
Standard form for notification of major holdings
2023-06-06
Annual Report and Accounts and Notice of Annual General Meeting
2023-06-02
Notification and Public Disclosure of Transactions by Persons Discharging Managerial Responsibilities
2023-05-23
Audited preliminary results for the year ended 28 February 2023 and dividend declaration
2023-04-12
Directorate Changes
2023-03-22
Full Year Trading Update
2023-03-13
TR-1: Standard form for notification of major holdings
2023-03-08
TR-1: Standard form for notification of major holdings
2023-03-03
TR-1: Standard form for notification of major holdings
2023-02-02
Notification and public disclosure of Transactions by persons discharging managerial responsibilities
2023-01-09
Notification and public disclosure of transactions by Persons Discharging Managerial Responsibilities
2023-01-03
Change in JSE Sponsor
2022-11-14
Notice of dividend currency exchange rate
2022-10-28
Notification and public disclosure of transactions by PDMRs and persons closely associated with them
2022-10-26
Results for the six months ended 31 August 2022 and cash dividend declaration
2022-09-21
Half Year Trading Update
2022-08-25
Notification and public disclosure of transactions by persons discharging managerial responsibilities
2022-07-26
Results of Annual General Meeting
2022-07-26
AGM Statement
2022-07-22
Notice of dividend currency exchange rate
2022-07-19
Update regarding the proposal of a special dividend
2022-06-23
Grant of options under Sharesave Scheme
2022-06-15
Annual Report and Accounts and Notice of Annual General Meeting
2022-06-06
Notification and public disclosure of transactions by persons discharging managerial responsibilities
2022-05-24
Audited preliminary results for the year ended 28 February 2022, proposed final and special dividends
2022-05-17
TR-1: Standard form for notification of major holdings
2022-05-10
TR-1: Standard form for notification of major holdings