The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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"Solid State directors are pleased to report a record year in FY24 with a strong trading performance towards the end of the year. Revenues and adjusted profit before tax* are expected to be ahead of consensus expectations."
However:
"The Systems division has had an exceptionally strong year, with revenues approximately 80% ahead of prior year, due mainly to high demand from customers in the security and defence sectors." (i.e. nothing to do with Cyan).
Https://news.virginmediao2.co.uk/archive/telefonica-uk-signs-1-5bn-smart-meter-deal/
https://cyanconnode.com/telefonica-connode-set-provide-uk-smart-meter-communications-service/
So can we assume Vodafone were successful.... note the dates.
"Cyan Connode's £37 million, multi-year contract with Telefonica O2 to provide wireless mesh networking services as part of the UK smart metering programme."
That's what was sold as the main benefit of buying Connode..... bit like the 60 staff spin. Has JC ever attempted to explain what happened?
Has any of JCs" Inflection" moments ever or will ever come to fruition? Will JC and the BOD still keep pulling in their huge salaries, bonuses and share options while the SP falls through the floor? Why is the SP and bonuses not based on the SP performance as oppose to "jam tomorrow?........ questions, questions.
Take a closer look at the dramatic 'increase' in staff. Yes, they did create new positions, not sure anywhere near the 60 number, but they did add a fair few. From what I can see the vast majority were filled by staff already at CC. It's now hard to find a member of staff without the 'manager' title. All a pathetic excercise, but it keeps some happy I guess.
Interesting Vas, as Monte Carlo and Intellismart already have running orders with CC I shouls imagine they will also be part of the Genus allocation.
A couple of observations from the Genus Feb 24 earnings call
quote - page 6
"I will just clarify that. 50% of the tenders have been floated. I would say tenders worth Rs. 150
million have been floated, out of which Rs. 100 million has been decided and Rs. 50 million
will get decided over the course of next 3 to 6 months. That is the current scenario. And out of
Rs. 100 million, Rs. 22 million is secured by Genus itself. And the remaining, yes, we are in
touch with all the AMISP players – Adani, Monte Carlo, IntelliSmart. And we have secured
good orders from Adani also, we have secured good orders from IntelliSmart, we have secured
good orders from Monte Carlo"
So it seems that Genus are winning their own awards as an AMISP in their own right, and also winning awards as a subcontractor and being given awards to manufacture smart meters from other AMISPs also - such as IntelliSmart, Monte Carlo and Adani ......so if this is to continue - then Genus would need to ensure that they can continue to manufacture Cyan modules / meters so to satisfy the awards they already received, and any future awards that demand a cyan module inside .
If Genus stop manufacturing Cyan Modules , they then lose control of procuring parts as required and become dependent on the general market for cyan parts - something that i know Genus wish to avoid in all their meter manufacturers - they like complete and if possible manufacture every meter part and process, including the entire supply chain of parts .
Interestingly the order in January this year for a million modules for MonteCarlo did not trigger any news from Genus so we assume these must be being manufactured and supplied from somewhere else.
Another observation as far as Genus is concerned is that in the transcript after discussing all the awards they have won, when asked when will the execution start the answer was , yes next year projects will go into full swing.
Therefore, this absence of news should be a distant memory in a month or two , once this ( what seems like) total news blackout on anything around smart meters and awards from utilities , AMISPS to subcontractors etc .
Quote
Question: Another question I had regarding the execution phase. I wanted to know if the execution will
pick up in the next year ( meaning 24/25 , I assume. )
Ans: Yes, the execution will be in full swing for all the projects in the next financial year. .....It is not that we are doing it for the first time. We have done this kind of installation work in the past".
https://genuspower.com/wp-content/uploads/2024/02/Genus-Power-Q3FY24-Earnings-Call-Transcript.pdf
Hi jakeandelwood
I think that the Y/E 31/03/2024 figures will be OK. It's the 2025's that I am becoming more concerned about.
Hopefully, the silence will be broken in April and we'll get a clearer picture of what is actually going on.
Still relatively hopeful long term but who knows.
GL
ITT
Hi ITT, was it rwally that long ago..time flies.
Mr upbeat clearly knew what was on the way. Wonder what spin JC will put on this when YE eventually arrives. Its going to be difficult. I've always said I was here for the end game ,win or lose but even I'm getting bored now. I still think JC has had his trousers pulled down with India. Hopefully I'm wrong.
The 'We are hiring' BS was 12 months ago and the figure was 65.
When this lot say 'hiring', they don't mean employing, they mean using the services of subcontractors - who can be dumped as quick as they picked them up.
I wonder how downbeat 'Mr Tremendously Upbeat' is currently feeling. He'll be getting the chop at this rate.
Hi Tony.
Anyone who believed that fish must be as daft as Triggers brush lol. I doubt they have employed one of that number. JC talks a good game though. Sadly he's been as quiet as a church mouse recently with the exception of the foot in mouth comments a week or so back.
Not sure what happened to the promise of keeping shareholders informed. Not looking forward to the finals which will no doubt contain substantial and cheap share options for those at the trough. Perhaps that's why the SP is being suppressed.
Hi jake, didn't India say a few months back 67 hirings, was it a different number.
Hi jakeandlewood. ....genus invested in a few envelopes .....investors seem happy
Gizmo.
They are usually brown have four folds and gum on two edges......
Many lesser known infrastructure companies brought electoral bonds ..
67 hirings Tony?
Colour they are a big company so they are always going to be one of the competitors.
I am more interested in our position in India. Did JC say about Cellular to cover his own backside or is it they are biting into CC territory. Also will he make a statement regarding the 67 hirings.
What is the new smart meter in South Africa?
Electricity Smart Meters - Mobi Power (Pty) Ltd
The new OMNIA smart electricity meter is based on cellular IoT. The new smart electricity meter can automatically switch between different cellular IoT technologies meaning energy companies can rely on different solution providers. The smart meter is open to support future technological and firmware advancement.
Vas, I am just wondering if things are not that bad. Possibly CC India and JC got carried away, thinking everything was rosey, may be having an eye on 50% of the market, increased the staff by this dramatic amount, these new AMISPs came along looking at costs, brushed aside CCs 10 year calculations and aiming at low srart figures. JC should get the likes of MYSORE to support his figures and present them to the Utilities and PM.
Keep an eye on HPL, they are Bigger than Genus and may be the reason for Genus coming off SP peak. DYOR
This job was advertised in February this year, so interviews probably a few weeks ago.
a few of the essentials..
Working on Cellular Technology based Product Development
and Validation
DFM, DFT experience for medium and/or high-volume product manufacturing.
Experience of DFM/DFT for medium (100K+) / high
volume (1M+) manufacturing – essential.
I am pleased they have experience of manufacturing 1 million units + listed as an essential.
Really hard to find any new news on any of the players in the smart meter rollout at the moment...its as if there is a blackout of news - i wonder if this is due to the election next month.
https://cyanconnode.com/wp-content/uploads/2024/02/CyanConnodeJobDescription-SnrHWEngineer-v2.pdf
Even our most ardent supporters are hoping for a miracle.
Anything can happen this time of year! Luckily for us there is a celebration of a resurrection of sorts happening this Sunday, with some guy with the initials JC... coincidence , maybe.
Well jake,I should think most long term holders, expeincing past dips, are in at 5p or less or out.
I would not think the original contracts like MYSORE who have seen the benefits and successfully operate our system will change. I recon the cash strapped Utilities who are used to going to the lowest point of value need to be persued by our sales team, perhaps including JC. It will be interesting to what the difference is between CC per meter and competitiors. In the past I thought we were competitive. Is it the new money men who are looking for changes. DYOR
Last effing chance more like mate.
Hi Colour. At this point even those in at 10p must be twitching lol.