Altron has nearly doubled its market value in 2024, with its share price rising over 80% since January. Currently trading at R18.15, the stock has rebounded significantly following the unbundling of its former subsidiary, Bytes Technology, which previously peaked at R34.60.
The successful separation of Bytes created R13 billion in value for shareholders, but uncertainty about Altron’s future without the UK unit lingered. However, under the leadership of CEO Werner Kapp, the company has adopted a strategy that has positively influenced market sentiment. Over the past year, Altron’s shares have surged by 126.03%, resulting in a market capitalization of R7.41 billion.
The company has transformed significantly, focusing on partnerships with Microsoft and expanding into cloud services while revitalizing legacy businesses such as vehicle tracker Netstar. Recently, Netstar reported a 12% revenue increase to R2.1 billion, driven by a 27% rise in subscribers.
Altron has also streamlined operations by selling off non-core units, including its ATM hardware business. With restructuring efforts now complete, the company is concentrating on strengthening its remaining divisions. Altron’s share price continues to rise, reflecting growing investor confidence in its future prospects.