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General information

Sector: Industrials

The company is not available at Interactive Brokers

Raubex Group Limited (JSE:RBX) is one of South Africa's leading infrastructure development and construction materials supply groups, celebrating over 40 years in the construction industry since it was established in 1974. Raubex listed on the JSE in March 2007 and operates across South Africa as well as throughout southern Africa and Cameroon. Raubex recently also entered the Western Australian market through the acquisition of Westforce Construction.

The group consists of three divisions:

Materials Division

Specialises in the supply of aggregates from commercial quarries, is a leading provider of material handling and screening services to the mining industry and provides mobile crushing solutions for remote project sites.

Roads and Earthworks Division

This division specialises in road construction and earthworks as well as road surfacing and rehabilitation which includes the manufacturing and laying of asphalt, chip and spray, surface dressing, enrichments, slurry seals and the manufacture and distribution of value added bituminous products throughout southern Africa.

Infrastructure Division

The infrastructure division specialises in disciplines outside the road construction sector, including energy (with a specific focus on renewable energy), rail, telecommunications, housing infrastructure projects and commercial building refurbishment and construction.

Raubex operates in South Africa, Namibia, Botswana, Zimbabwe, Zambia, Mozambique, Cameroon and Western Australia.



  • Pretty weak financial results growth rate 0.1% (average between last period year over year growth for revenue and EBITDA), are preserved at an average historical level (0.1%)
  • Dividend yield for the last twelve months 0.0%
  • Free cash flow yield -6.9% (LTM)
  • Share price is 48.6% higher than minimum and 25.8% lower than maximum for the last 3 years
  • The company is undervalued by EV / LTM EBITDA multiple compared to target level (3.2x vs
    )
  • Fundamental value created in LTM (estimate)

Key Financials

Share price, ZAR:  (0.0%)31.80
Share price, USD: 1.7148
Common stocks: 181 761 006

Dividend Yield:  0.0%
FCF Yield LTM: -6.9%
EV / LTM EBITDA: 3.2x
Last revenue growth (y/y):  -3.1%
Last growth of EBITDA (y/y):  +3.2%
Historical revenue growth:  +5.1%
Historical growth of EBITDA:  +17.4%
Target EV / EBITDA (hist percentile):
Fundamental value created in LTM:
EV / LTM EBITDA mutiple calculation
Market Cap ($m): 312
Net Debt ($m): 68
EV (Enterprise Value): 380
EBITDA LTM ($m): 117
EV / LTM EBITDA: 3.2x
Price to Book: 0.97x

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

Old Mutual says local shares oversold, including MTN and Vodacom

South Africa’s weak economy and poor growth prospects have hidden the “phenomenal” potential for the shares in some locally focused companies to deliver returns for investors, according to Old Mutual Investment Group.

2020-11-04 13:00 +02:00
by Agency Staff

JSE:MTN JSE:VOD JSE:SHP JSE:APN JSE:OMU JSE:ITE JSE:MSM JSE:RBX JSE:ISA JSE:SSK

Insider trades

Date
Company
Person
B/S
Stocks
Price
volume USD
2023-08-08
Raubex
[JSE:RBX]
DC Lourens
S
149089
ZAR 25.10
+27.2%
197 636
2023-08-08
Raubex
[JSE:RBX]
RL Shedlock
S
70100
ZAR 25.10
+27.2%
92 926
2023-08-08
Raubex
[JSE:RBX]
JA Louw
S
68894
ZAR 25.10
+27.2%
91 327
2023-08-08
Raubex
[JSE:RBX]
JA Louw
S
28641
ZAR 25.10
+27.2%
37 967
2023-06-08
Raubex
[JSE:RBX]
DC Lourens
B
6931
ZAR 23.28
+32.5%
8 562
2022-12-08
Raubex
[JSE:RBX]
RL Shedlock
B
9899
ZAR 25.00
+25.9%
14 420
2022-08-12
Raubex
[JSE:RBX]
NF Msiza
S
111202
ZAR 35.31
-6.0%
242 315
2022-08-12
Raubex
[JSE:RBX]
DC Lourens
S
70094
ZAR 35.31
-6.0%
152 738
2022-08-12
Raubex
[JSE:RBX]
LJ Raubenheimer
S
231297
ZAR 35.31
-6.0%
504 008
2022-08-12
Raubex
[JSE:RBX]
RL Shedlock
S
15000
ZAR 35.31
-6.0%
32 686
2022-08-12
Raubex
[JSE:RBX]
JA Louw
S
34254
ZAR 35.31
-6.0%
74 641
2022-08-12
Raubex
[JSE:RBX]
JA Louw
S
24266
ZAR 35.31
-6.0%
52 877
2022-07-28
Raubex
[JSE:RBX]
RJ Fourie
S
389119
ZAR 36.05
-11.7%
849 210
2022-07-28
Raubex
[JSE:RBX]
RJ Fourie
S
300000
ZAR 35.70
-11.7%
648 287
2022-07-27
Raubex
[JSE:RBX]
RJ Fourie
S
200000
ZAR 36.00
-11.7%
431 653
2022-07-25
Raubex
[JSE:RBX]
RJ Fourie
S
6000
ZAR 36.00
-10.3%
12 862
2022-07-25
Raubex
[JSE:RBX]
RJ Fourie
S
1104881
ZAR 35.90
-10.3%
2 361 897
2022-07-06
Raubex
[JSE:RBX]
NF Msiza
B
20000
ZAR 35.00
-9.0%
41 706
2022-07-01
Raubex
[JSE:RBX]
Summary Investments Proprietary Limited
B
42430
ZAR 34.94
-8.9%
90 735
2022-06-17
Raubex
[JSE:RBX]
JA Louw
B
10000
ZAR 35.74
-6.1%
22 300
2022-06-15
Raubex
[JSE:RBX]
LJ Raubenheimer
B
40687
ZAR 36.13
-13.5%
93 312
2022-06-14
Raubex
[JSE:RBX]
LJ Raubenheimer
B
85317
ZAR 35.74
-12.5%
190 308
2022-06-02
Raubex
[JSE:RBX]
DC Lourens
B
7000
ZAR 38.25
-16.8%
17 315
2022-05-25
Raubex
[JSE:RBX]
DC Lourens
B
18000
ZAR 37.91
-16.3%
43 372
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Releases

2022-08-15
Dealings in Securities by Directors, Prescribed Officers and Company Secretary
2022-08-12
Acceptance of long-term incentive performance share awards to directors, executives & company secretary
2022-08-12
Vesting of balance of 2018 allocation and partial vesting of 2019 allocation - Raubex Long Term Incentive Scheme
2022-08-05
Report on Annual General Meeting proceedings and resignation of Chairman
2022-08-05
BAU/RBX - Joint Finalisation Announcement
2022-08-04
BAU/RBX - Joint Announcement Regarding Results of General Meeting
2022-07-29
Dealings in Securities by a Director of the Company
2022-07-07
Dealing in securities by a director of the Company
2022-07-06
Joint Announcement - Distribution of Circular and Notice of General Meeting
2022-07-04
Dealings in securities by an associate of a prescribed officer of the Company
2022-06-29
No change statement and Notice of Annual General Meeting
2022-06-29
Publication of Broad-Based Black Economic Empowerment annual compliance report
2022-06-21
Joint FIA: General Offer by Raubex (Pty)Ltd to acquire the Entire Issued Share Capital of Bauba & Proposed Delisting
2022-06-20
Dealings in securities by a prescribed officer of the Company
2022-06-15
Dealings in Securities by a prescribed officer of the Company
2022-06-15
Joint Announcement in Respect of the Final Results of the Mandatory Offer and Section 122 Notification
2022-06-13
Joint Announcement of Preliminary Results of the Mandatory Offer & Conclusion of Concert Party Arrangement
2022-06-03
Dealing in securities by a prescribed officer of the Company
2022-05-30
Joint Finalisation Announcement in respect of the Mandatory Offer
2022-05-26
Dealing in securities by a prescribed officer of the Company
2022-05-23
Notification in terms of section 122(3) of the Companies Act and Section 3.83(b) of the JSE Listings Requirements
2022-05-23
Extension of Closing Date of the Mandatory Offer and Revised Timetable
2022-05-16
Audited Results for the year ended 28 February 2022 and Dividend Declaration
2022-05-13
Joint Finalisation Announcement in Respect of the Mandatory Offer
2022-05-12
Chief Executive Officer succession and appointment of Chief Operating Officer and Deputy Chairman
2022-05-10
Further Trading Statement in respect of the year ended 28 February 2022
2022-04-26
Notification in terms of section 122(3) of the Companies Act and section 3.83(b) of the JSE Listings Requirements
2022-03-28
Trading Statement in respect of the year ended 28 February 2022
2022-01-11
Notification in terms of section 122(3) of the Companies Act and section 3.83(b) Of The JSE Listings Requirements
2021-11-08
Unaudited Interim Results for the six months ended 31 August 2021 and dividend declaration
2021-10-14
Further trading statement in respect of the six month period ended 31 August 2021
2021-09-22
Notification in terms of section 122(3) of the Companies Act and section 3.83(b) of the JSE Listings Requirements
2021-09-13
Trading Statement in respect of the six month period ended 31 August 2021
2021-08-11
Acceptance of long-term incentive performance share awards to directors, executives & company secretary

SENS Announcements

2024-04-29
Updated Trading Statement in respect of the year ended 29 February 2024
2024-03-04
Voluntary Trading Update in respect of the year ended 29 February 2024
2024-02-26
Changes to Board Committees
2023-11-13
Unaudited Interim Results for the six months ended 31 August 2023 and Cash Dividend Declaration
2023-09-29
Change to Board Committee
2023-08-08
Dealings in Securities by Executive Directors, Prescribed Officers and Company Secretary
2023-08-07
Acceptance of LTIP Share Awards to Executive Directors, Prescribed Officers & Company Secretary
2023-08-04
Vesting of balance of 2019 Allocation and Partial Vesting of 2020 Allocation of the Raubex Incentive Scheme
2023-07-28
Report on Annual General Meeting Proceedings & Change to Composition of Risk Committee
2023-07-10
Dealing in securities between a prescribed officer of the Company and an associate of the prescribed officer
2023-06-28
Publication of Broad-Based Black Economic Empowerment Annual Compliance Report
2023-06-28
No Change Statement and Notice of Annual General Meeting
2023-06-09
Dealings in securities by a director of the Company
2023-05-29
Appointment of Independent Non-Executive Director and Changes to Board Committees
2023-05-15
Audited Results for the Year Ended 28 February 2023 and Cash Dividend Declaration
2023-04-21
Passing of Non-Executive Director
2023-04-19
Trading Statement in respect of the year ended 28 February 2023
2023-03-10
Notification in terms of Section 122(3) of the Companies Act and Section 3.83(b) of the JSE Listings Requirements
2023-02-27
Changes to Board Committees
2023-01-09
Notification in terms of section 122(3) of the Companies Act and section 3.83(b) of the JSE Listings Requirements
2022-12-13
Dealing in securities by a prescribed officer of the Company
2022-12-07
Appointment of Board Chairman, Lead Independent Director, Independent Director and changes to Board Committees
2022-11-07
Unaudited Interim Results for the six months ended 31 August 2022 and Dividend Declaration
2022-10-24
Notification in terms of Section 122(3) of the Companies Act and Section 3.83(b) of the JSE Listings Requirements
2022-10-21
Voluntary Trading Statement in respect of the six month period ended 31 August 2022
2022-08-22
BAU/RBX - Joint Announcement of the Results of the Offer and Section 122 Notification
2022-08-16
Appointment of Acting Chairman and changes to Board Committees
2022-08-15
Dealings in Securities by Directors, Prescribed Officers and Company Secretary
2022-08-12
Acceptance of long-term incentive performance share awards to directors, executives & company secretary
2022-08-12
Vesting of balance of 2018 allocation and partial vesting of 2019 allocation - Raubex Long Term Incentive Scheme
2022-08-05
Report on Annual General Meeting proceedings and resignation of Chairman
2022-08-05
BAU/RBX - Joint Finalisation Announcement
2022-07-29
Dealings in Securities by a Director of the Company
2022-07-07
Dealing in securities by a director of the Company
2022-07-06
Joint Announcement - Distribution of Circular and Notice of General Meeting
2022-07-04
Dealings in securities by an associate of a prescribed officer of the Company
2022-06-29
No change statement and Notice of Annual General Meeting
2022-06-29
Publication of Broad-Based Black Economic Empowerment annual compliance report
2022-06-20
Dealings in securities by a prescribed officer of the Company
2022-06-15
Dealings in Securities by a prescribed officer of the Company
2022-06-15
Joint Announcement in Respect of the Final Results of the Mandatory Offer and Section 122 Notification
2022-06-13
Joint Announcement of Preliminary Results of the Mandatory Offer & Conclusion of Concert Party Arrangement
2022-06-03
Dealing in securities by a prescribed officer of the Company
2022-05-30
Joint Finalisation Announcement in respect of the Mandatory Offer
2022-05-26
Dealing in securities by a prescribed officer of the Company
2022-05-23
Notification in terms of section 122(3) of the Companies Act and Section 3.83(b) of the JSE Listings Requirements
2022-05-23
Extension of Closing Date of the Mandatory Offer and Revised Timetable
2022-05-16
Audited Results for the year ended 28 February 2022 and Dividend Declaration
2022-05-12
Chief Executive Officer succession and appointment of Chief Operating Officer and Deputy Chairman
2022-05-10
Further Trading Statement in respect of the year ended 28 February 2022