While Reunert management notes in the commentary to the group’s latest full-year results that it has been another difficult year and that supply chain disruptions forced the group to increase stock levels, it still increased cash flow from operations – to R994 million in the year to September 2022 compared to R958 million in the previous year.
Meanwhile, accounting principles require us to mark-to-market the valuation of the options, which is priced in dollars,” he says. Lumika is a joint venture between Denmark-based AP Moller Capital and Reunert, with Reunert owning just more than 50%. It is a developer of large renewable energy projects, and although in the early stage of its development already has a strong pipeline of renewable energy projects.