Reunert comprises a diverse group of companies both in terms of size and business activity. Broadly speaking, the group is strategically linked through its electrical, electronic and ICT engineering capabilities in either their core competencies and/or the markets they serve.

Group Strategy

Reunert’s core competencies are its electrical and electronic engineering capabilities, coupled with service skills in information communication technologies.


  • Reunert embraces values-driven leadership supported by its Group Values and Code of Ethics
  • The Group operates in diverse electronic/electrical and information communication technology markets, and in each it is focused on
    enabling customers’ purpose
  • Reunert has a federal business model. Head Office provides strategic oversight and the common core competencies required by the business units in the Group such as company secretarial and tax. This allows business units to retain their individual entrepreneurial drive, thereby increasing their agility, responsiveness and resilience.
  • The Group has well-known and respected brands, including:
    • CBI-Electric
    • Reutech
    • Nashua
    • ECN (Electronic Communications Network)
  • Major business units are either first or second in the chosen markets they participate in
  • Reunert has well-managed operations, strong cash flows and business units that collectively show resilience through macro‑economic cycles
  • The Group’s largely ungeared balance sheet creates the capacity to both execute capital projects and mergers and acquisitions opportunities
  • Reunert has a strong focus on long-term shareholder value creation – its key metrics reflect a shareholder focus, such as total shareholder return, profit, growth and return on capital employed over the economic cycle

The strategy review process

The Group undertakes a biennial comprehensive strategy review and an implementation review in the intervening year. In 2023, the Group’s management teams conducted a strategy review.



Reunert and business units’ executives analyse the operating environment to evaluate strengths, weaknesses, opportunities, threats, resources, and capabilities.


The Executive Committee (Exco), with input from the business units’ management, collaboratively develop the Group strategy for the Board’s approval. Segments and business units cascade operational strategies aligned with the Group’s strategy.

Annual review

Business unit executives review and validate strategies annually. They identify any changes or additional initiatives required to drive the business strategy. Three-year financial forecasts are updated with new plans and initiatives. The annual budget process includes strategic key performance indicators (KPIs), which are incorporated into the management’s responsibilities for the year.

Board oversight

Every year, the Board either assesses the strategy’s implementation or approves strategy revisions. Through this process, the strategy evolves to respond to changes and new opportunities in the operating environment. The Risk Committee determines material risks to be included in each year’s review.


In 2023 the review:
> Re-evaluated and tested the Group’s assumptions for suitability and amended it where necessary
> Assessed the competitive environment for the business units and the Group to determine whether any factors materially impacted the strategy, which was followed by updates to the strategy
> Conducted deep dives on areas where additional focus and key strategic decisions were required
> Oversaw all business units completing a three-year financial forecast that was consolidated to form medium-term financial forecasts
> Prepared the valuation of the Group based on the medium-term forecast and used it to test Reunert’s investment case
> Included climate matters into the Group strategy as per the Task Force on Climate-related Financial Disclosures (TCFD) requirements

Strategic imperatives for 2023

> Increase exports to key geographies
> Launch products, recently developed, to:
  • Expand product portfolio
  • Increase IoT capability of Circuit Breaker products and
  • Improve export OEM sales
> Develop a new ICT Cluster to address the digital integration solutions needs of South Africa’s enterprise customers
  • Founded +OneX
  • Acquired IQbusiness
> Increasing international revenues for Applied Electronics through its international offices and synergies unlocked by acquiring Etion Create
> Creating commercial applications based on defence intellectual property
> Capitalising on increased demand for renewable energy and expanding Reunert’s renewable energy ecosystem

Material matters influencing value creation

Reunert’s selected material matters could substantively affect the Group’s ability to create and preserve value in the short, medium and long-term.

In 2023, the material matters remained unchanged. However, some of the levels of impact that each material matter exerted on the Group have changed. Material matters are discussed throughout this report.


Appropriate Group oversight

Reunert’s governance structures promote clarity and understanding of roles, responsibilities and accountability across the federal business model.

Reunert’s Group Executive Committee (Exco) is mandated to oversee the formulation and implementation of the Group’s and business segments’ strategies, review budgets, and develop and monitor adherence to Group policies1 . The Board approves these items and oversees compliance and capital allocation in line with its Board-approved Delegation of Authority Framework. Business units implement the strategy, execute the operational plans and ensure employees comply with Group’s and business units’ policies.

group oversight