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The non-core businesses comprise: e2v Scientific Instruments, based in High Wycombe; the industrial gas sensing business based at e2v's Chelmsford facility; and e2v micro-sensors SA based in Neuchetel Switzerland. They provide a range of professional sensing products for x-ray spectroscopy and gas sensing for automotive and environmental safety applications.
Electrical component supplier e2v technologies has agreed the sale of its non-core businesses, for a total cash consideration of £14.7m, to a newly formed company, SGX Sensortech, backed by Baird Capital Partners.
make that 5% today
Chugging up a percent or two every day.
In the Telegraph Questor senses some value with high tech firm E2V. It makes various types of sensors and yesterday announced a tie-up with Rio Tinto. The deal will see Rio use E2V’s technology to identify copper deposits in “tailings” or waste from mining operations and so ought to increase yield. E2V trades at 11.7 times earnings and yields 2.8%. It also shot up 10% yesterday on the Rio deal but Questor believes once the euphoria has died down the stock could be worth a buy.
13th December 2011 e2v awarded multi-million Euro contract by Thales Alenia Space for the supply of CMOS imaging sensors for Meteosat Third Generation e2v, the leading global provider of high performance imaging solutions, has signed a multi-million Euro contract with Thales Alenia Space for the design, development and manufacture of a space qualified CMOS imaging sensor for use in the Flexible Combined Imager (FCI) instrument of the Meteosat Third Generation (MTG), an ESA and the European Organisation for the Exploitation of Meteorological Satellites (EUMETSAT) programme. Following on from Meteosat Second Generation (MSG), the MTG network is being created to ensure continuity of high resolution meteorological data to 2037 and beyond. This next series of 6 geostationary weather satellites includes 4 imaging satellites (MTG-I) and 2 sounding satellites (MTG-S) in geostationary orbits and will provide significant improvements over the capabilities of the current Meteosat generation. e2v will manage the whole of the supply chain for the sensors, from the in-house design, to the qualification and delivery of the sub-assembly, including the CMOS imaging sensor itself and the customised package including filters. This contract will build on e2v's extensive CMOS design expertise, project delivery capability, and ability to manage industrial supply chains. The FCI instrument onboard each of the MTG satellites will provide images of our weather systems and environmental changes with better spatial, temporal and radiometric resolution than currently available. The first MTG-I satellite is expected to be launched in 2017, with the first MTG-S following in early 2019. Thales Alenia Space is the prime contractor responsible for the MTG-I imaging satellites, including the primary FCI instrument. Jon Kemp, marketing manager for high performance imaging solutions at e2v said "e2v has led the development and supply of high performance imaging sensors for space applications for many years and it is exciting to see our experience in CMOS technology enabling missions such as MTG. We are very pleased to be entrusted with this important programme and look forward to the successful delivery of the Visible Detector Assemblies for the MTG-I satellites". Further enquiries: e2v technologies plc Tel: + 44 (0)1245 453 607 Jessica Broom, Marketing Communication Manager jessica.broom@e2v.com Pelham Bell Pottinger Tel: + 44 (0)20 7861 3232 Archie Berens Tristan Peniston-Bird NOTES FOR EDITORS About e2v e2v is a leading global provider of specialist technology for high performance systems and equipment; delivering solutions, sub-systems and components for specialist applications within medical & science, aerospace & defence, and commercial & industrial markets. e2v has its headquarters in the UK, employs approximately 1500 people, has design and production facil
eymour Pierce reiterated its "buy" recommendation for e2v Technologies (E2V), but reduced its target price from 160p to 140p. The broker notes that the defence market remains soft, with signs of weakness in the machine vision area. However, Seymour is encouraged by the semiconductor manufacturer's machine vision contract win in Korea, and that net borrowings of 32 million pounds are in-line with the broker's forecast of 28 million pounds for the year end. The shares were unchanged at 97.25p.
Net Borrowings Net borrowings at 30 September 2011 increased from 30 June 2011 by £4m to £32m, with operational cash performance in line with our expectations. The group's new £80m revolving banking facility became effective 27 July 2011 and expires on 27 July 2015. As at 30 September 2011 the group had available £41m of undrawn committed borrowings from the facility. The group remains in a sound financial position. Keith Attwood, Chief Executive, said: "The group has performed strongly in the first half. The changing order book profile reflects the anticipated change in the mix of our businesses. The broader macro economic environment remains of concern and there are some signs of softening demand. We continue to make good progress in executing our strategic plan. We are securing early orders for our industrial processing systems business and repositioning ourselves in the value chain for key applications such as space imaging and electronic counter measures. Our outlook for the full year remains unchanged."
Order Book Our total order book as at 30 September 2011 was £146m (30 September 2010 £167m), whilst our order book for delivery in the coming 12 months as at 30 September 2011 was £120m (30 September 2010 £147m). The reduction in the order book for delivery in the coming 12 months reflects a £7m reduction in the level of 'one-off' orders and the cycle of multiyear radiotherapy orders of £9m. We are also seeing a change in mix, as European defence activity (reduced by £2m) has been replaced with more commercial and industrial business with shorter order cycles
Period end update e2v technologies plc, the specialist provider of technology solutions for high performance systems, is today providing this period end update for the six months ended 30 September 2011. Current Year trading and outlook Group trading for the first half is expected to be in line with management's expectations and ahead of the comparable period in the previous year. Underlying revenue grew by over 16%, with reported revenue growth of 9%. The difference largely reflects one off revenues of £6m. The broader macro economic environment remains of concern and there are some signs of softening demand. We continue to make good progress in executing our strategic plan and our outlook for the full year remains unchanged.
http://www.investegate.co.uk/Article.aspx?id=201110130700130892Q
Might be of interest to E2v investors, just want to bring to your attention a really good off the radar investment for you to research. Advanced Power Components – APC Profitable British company, p/e ratio 8, EPS 1.8p. Strong order book and anticipating very exciting and company changing green tech sales announcements this year. 25m shares in issue - with 50% held by institutional holders
Northland Capital Partners commented on E2V Technologies (E2V), the electronic components manufacturer. Following full year results, the broker said that the last 12-months has been transformational with profitability being restores, margins now higher than they were in 2009 and revenues once again growing. The new initiatives are adding to the growth potential and management is targeting 10% underlying revenue growth going forward, Northland added. The shares climbed 7.5p to 139.5p.
e2v technologies is a maker of specialist technology for high-performance systems that was spun out of the old Marconi business by its management when Marconi collapsed in 2002. It is one of the Tempus tips for 2011, and one of the best-performing. The shares were tipped at 91p on January 1; they closed last night off 6 1/2p at 127p, a gain of almost 40% since the start of the year. Adjusted operating profits were up from GBP15m to GBP38.2m last year. Progress will be slower, though analysts’ forecasts look unambitious. The shares sell on 11 times this year’s earnings. I suspect that by the end of the year, that investment gain will be rather wider. Buy, says the Times.
with more to come in the next few years.
RNS OUT
interesting
e2v sees FY ahead of forecasts Date: Monday 11 Apr 2011 LONDON (ShareCast) - Electrical component supplier e2v said trading for the fiscal year 2011 is expected to be ahead of market expectations as it plans to resume dividend payments earlier than previously planned. e2v, whose imaging sensors equip the cameras onboard NASA’s Messenger, said revenue for the year to 31 March rose 13% to £229m after better than expected growth. Chief executive officer Keith Attwood said he was pleased with the strong trading performance in improving markets and believes the business is well positioned to deliver further growth. "During the year we have made continued progress on implementing the growth strategy, previously announced last July. We intend to provide further guidance on the scale of the opportunities being generated when we announce our results on 6 June," he said. e2v confirmed it would pay a dividend of 3.6p a share for the year after rapid trading growth. The group's order book at 31 March was £167m compared with £161m a year earlier. Net borrowings at 31 March 2011 were approximately £28m, down £17m from net borrowings of £45m at 31 March 2010. CJ
And yes the Divi news is welcome Dividend Following the announcement on 20 January 2011, the Board is today pleased to confirm its intention to return to a progressive dividend policy. For the financial year ended 31 March 2011, the Board intends to pay a dividend of 3.6 pence per share. Of this, 1.2 pence per share will be paid on 27 May 2011 to e2v shareholders on the register as at 3 May 2011 and, subject to e2v shareholder approval at the Group's forthcoming Annual General Meeting, 2.4 pence per share will be paid on 3 August 2011 to e2v shareholders on the register as at 8 July 2011. Barring exceptional circumstances, the Board intends to adopt a similar weighting between interim and final dividends in future financial years.
Yup looks like a good set of results and orders keep coming
Order Book The Group's total order book is £167m (31 March 2010: £161m), whilst the order book for delivery over the coming 12 months is £137m (31 March 2010: £132m). The order book includes last time buy orders of £7.8m (31 March 2010: £12.5m).
Keith Attwood, Chief Executive Officer, said "We are very pleased to have delivered such a strong trading performance in improving markets overall and believe the business is well positioned to deliver further growth. As a result, the Board has decided to restart the payment of dividends earlier than planned. During the year we have made continued progress on implementing the growth strategy, previously announced last July. We intend to provide further guidance on the scale of the opportunities being generated when we announce our results on 6 June."
Highlights · Full year trading performance expected to be ahead of management's previous expectations · Over 9% underlying turnover growth, 13% reported · Excellent progress in developing key new application areas · Net borrowings of c.£28m, lower than previous expectations · Intended full year dividend of 3.6 pence a share
Great news and a dividend too. http://www.investegate.co.uk/Article.aspx?id=201104110700136290E