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EU proposal for windfall tax on renewables as well as other energy this morning, possible fear that UK will follow suit, even though Truss seemed to rule it out? Some weakness in Hydrogen companies this morning as well.
I wonder if the fall in the share price is due to concerns over a possible rights issue. The company ended the year with only 37 million in cash compares to £117 a year previously.
Cash flow from operations is less than £20m and is largely absorbed by the dividend. They have an undrawn borrowing facility of £420m, but unless the rate has been fixed at pre-inflationary levels, it may be unattractive to borrow. Whatever the rate, interest payments will eat into free cash flow. The company needs cash and it’s not clear where it is coming from, hence the correction?
But sold heavily after apparently excellent H1 results and a positive statement by the Board.
Crazy..given the inflationary protection of the meter business and the increasing prospects for batteries and other Carbon reduction products.
I left here at around 900p. Should have held but added to PAY which has made up for missing the extra gains.
Keeping an eye here though as it’s an inflationary hedge. I actually don’t mind starting again in an investment at a higher level if the outlook/macro changes. Some peeps don’t get that!
Amazed this one is not mentioned by the pundits for its inflationary benefits! Lol!
Usual caveats
Trek
For me the new piece of info was that the grid scale battery is generating cash and EBITDA of around 5m pa.
The question remains how this translates into profit, what it cost to build for I, and critically what the DA is. As these develop as projects the realistic returns can be estimated ore accurately. Expect some broker updates as the pipeline matures….hopefully upwards. RBC increased by 10p….
Hopeful this will be a reliable source of income.
Key points
· ILARR(1) grew 8% to £93.1m at 30 June 2022 (31 December 2021: £85.9m)
· Meter and data assets
· smart meter portfolio increased to 1.9m at 30 June 2022 (31 December 2021: 1.7m)
· secured a new smart meter contract win adding c.0.1m meters to the pipeline
· smart meter order pipeline of c.2.42m(2) at 30 June 2022 (31 December 2021: c.2.55m)
· continued growth in smart meter installation rates; no impact on meter supply
· Grid-scale battery pipeline
· first 50MW performing well ahead of management expectations
· total pipeline increased to 760MW(3) at 30 June 2022 (31 December 2021: 620MW)
· Continued progress in other CaRe products and services including recent strategic investments in EV charging infrastructure and energy data management
· Net cash position at 30 June 2022 was £38.6m
· FY 2022 underlying EBITDA and PBT expected to be marginally ahead of previous expectations; confident in medium term outlook
· Expected FY 2022 dividend of 30.25 pence per share, +10% year-over-year in line with stated policy
Must have been a leak a couple of days ago!
Picked up my holding at £8.48, and now one of the few showing good gains.
Definitely a stock for the current times
Todays software investments, one a full acquisition and the other a staged buy are positive for the future. Enabling better fee earning services and expanding development capacity.
Trading update on 27 July is one to look forward to.
The INdex linked contracts will generate a lot more cash than previously expected….should bode well for creasing dividends.
Note how on the last two trading days the MM has knocked this down at the open. It then recovers through the day.
If one intends to add worth looking at the opening price imo.
Usual caveats
Trek
Love this share. Been in it before, sold up with a good profit. Back again and another good profit on the way.
Flying now!
Just goes to show that you don’t have to buy micro caps to make huge returns and underpinned by quarterly divi!
Mr market has given some awesome opportunities of late!
Usual caveats
Trek
Yep chart taking us to +900p. Really strong momentum.
I don’t get directors buying now when they had an opportunity at a lower SP. Must be results.
My average is 705p ish. I bought for the quarterly divi with cover + growth and couldn’t believe the TA opportunity for a recovery.
That’s all played out now exceptionally well.
Question is do I sit on my divi or sell at 900p?
A tough one this. I see a pull back at some point but with a good sp cushion do I trade it or switch off.
I normally trade some and hold some. Not Doug anything yet though until the chart establishes some resistance!
Usual caveats
Trek
The latest of 3 directors buying since results….and looking at the chart there is strong momentum.
Looks like a buy to me…follow the directors money.
That’s the attraction of energy during inflation. Costs get passed on to us!
Well the director likely agrees who just picked up £40k in market!
Usual caveats
Trek
A nice bounce but well short of the highs prior to the equity raise last year.
I can’t help but think there will be cost overruns on building the large batteries, there seem to be cost rises everywhere at present, but their index linked earnings are increasingly valuable.
Well in with an average of 706p and now it’s 800p. Not bad and played TA well.
Getting a good quarterly divi and a nice sp cushion with defensive qualities.
If it drops below my average I will add here other than that I have a good size pot tucked away and will sit out trading this one now.
Good luck with your investments
Trek
Market has had tie to price in.
Now looks like we are tracking back to +800p. It’s almost as if the chart from March is driving the recovery.
There were no surprises in the results they were good and on track.
Buying now gives one +4% divi which should continuously increase above inflation and quad which is nice.
This also has defensive qualities and held up well during the invasion.
Usual caveats
Trek
One to hold tightly in times of uncertainty.
Buying for the first time to hold for a long time. Impressed by the business and the results. This is a very resilient and defensive play cash cow. To hold for a long time as a passive income and especially as energy storage/renewables play with demand to be going exponentially in the next few years.
I would add that Expansion in Australia and elsewhere (New Zealand next) will boost turnover and cash flow. -------------------------------------------------------------------------------------------------------------------- ADM™ – The Intelligent Metering Solution: - - - Smart Metering Systems Pty Ltd provide a fully-managed metering and data service to the Australian residential, commercial and industrial markets. Exemplifying our end-to-end metering and data solutions we have introduced ADM™, an intelligent Advanced Meter Infrastructure (AMI) and Automated Meter Reading (AMR) solution, which boasts a network of 165,000 assets and counting. ADM™ is beautifully simple – designed and built using proven, robust technology. Effortlessly activated in a matter of minutes, it fits to all pulse output water, gas, LPG and electric meter types.
Well all pretty much bang on guidance.
620MW was a nice lift and slightly ahead on meter instals.
CaRe looks promising but lacks concrete data imo.
Worth averaging in for an inflation busting divi increase.
Usual caveats
Trek
Sp has stood up well recently probably because already pulled back following trading update.
Shouldn’t see much change. Slightly ahead of guidance at 85.9m in the bag already.
Getting grid scale batteries in is the one to watch esp given the ‘low wind’ period.
Smart meter delivery and upgrade is finite. Plenty of work atm but it’s batteries we want!
Could also do with a main market listing as some insti’s won’t touch AIM.
Good quarterly divi here with a 10% hike recently albeit whilst the revs are predictable the growth outlook has tapered.
I think a safe buy/hold, my average is under 7 but am a buyer sub 750 if market holds as this one now has good defensive qualities. Akin to GLO but their numbers and geo is better.
Usual caveats
Trek
Meters will need to be 4G or 5G enabled from 2033.
My meter has a 10y battery life so that means they need to upgrade new installations soon to avoid a crunch in 10 yrs time.
Should not be a risk…more of an opportunity to refresh meters in the future..