Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Strong financial performance and delivery of strategy
Good Energy, the 100% renewable electricity supplier and innovative energy services provider, today announces its interim results for the six months ended 30 June 2023.
Financial highlights
· Revenue increased 45.6% to £156.1m (H1 2022: £107.6m) driven by rising wholesale costs leading to price rises throughout the year.
· Gross profit increased 168% to £32.7m (H1 2022: £12.2m) with gross profit margin of 20.9% (H1 2022: 11.4%). 683
· Gross profit increased due to a strong H1 2023 performance and cost advantages from our power purchase agreements. However, we anticipate a one-off loss in H2 2023 due to lagging commodity costs and tariff reductions.
· Operating profit of £14.1m (H1 2022: -£0.5m loss). Some of this is expected to unwind in H2 given the falling commodity cost environment since late last year.
Impressive set of results
Just waiting for the recording to be available (I am already Investor Meet registered).
Can you give your own thoughts and opinions on it, while I wait to watch it for myself?
Needless to say, I will not take any decisions just based on that, will do my own research etc :)
Here's an interview with CEO Nigel Pocklington re: this morning's results:
https://www.youtube.com/watch?v=SsoJmXAzcWw
What am I missing here?
That seemed like a terrific update. Revenue and profit materially higher than last year. Increase in dividend. Low share count and seemingly a low free float too.
How is this not 4 quid, even allowing for the macro stuff in the markets?!
Hopefully we will see some inside buying later as well.
I bought a few this morning. GLA.
It’s heading higher Aklee.
The board prefer results over hype to push the company forward. Unusual strategy on AIM.
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Why's this not trading higher?
A very confidence inspiring performance by GE since the gen. sale. Happy to have held.
Can be tricky introducing paywalls to apps UPshunt as Elon will soon find out….
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More cash than cap and hugely profitable. Why is it so cheap please? Thanks
Yes not bad, Zap Map still not a profitable model but the demand for a clean energy supplier up and a top notch Trust Pilot rating.
Divi marginally up.
Hurray.
Maybe some good news tomorrow??
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A start of £2 will suffice.
Maybe this interactive map will get people thinking how genuine this outfit are.
https://www.goodenergy.co.uk/our-energy/
More cash than mkt cap and profitable. Also showing huge signs of growth. This is a multi bagger over the next few months
Just topped up 3.5k shares & 1.5k shares. Neither showing
Looks really GOOD here
Total cash £38m vs £29m market cap
£2m to be paid to Ofgem et al so lets say £36m
Just made an acquisition which on the face of it looks pretty good (500K capex there)
Strong first half of the year, they are clearly profitable and generating cash even with as many caveats as you can throw in
Fully hedged for Q3 and 50% of Q4
Onwards to £3 a share
It is interesting the avg household will get £109 compensation. I never got any govt payments from GE they said the payments were on electricity and not on the gas. I always thought they were honest to goodness this company. Might have to read the small print on the Govt scheme. Surely any overcharging was an oversight and not intentional.
Total cash £32m
Mkt cap £32m
Profitable & pays a divi
Growth business
Why is it down here?
Think they need to announce a divi next week.
Least the spread is realistic this year. I suppose it is heading back up towards £3.
Good to see price move up .
A rare good day for Good Energy. Nice to see the bid moving up, especially off such low volume. It would be nice to see a steady rise leading into the full year results on the 28th March. Anticipating revenues in the £180m - £200m range with a healthy gross profit of £10 + million. Time will tell but I'm hopeful for good results and a nice update on trading so far this year.
Please excuse the poor grammar. Seem to have gained a pop up ad floating about over my dialogue box driving me mad!!
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Yes that’s right NotBot. That will help expand the retail side for sure but a retail side that existed before the sale. What I’m waiting/expecting/hoping for is a new income stream replacing the generation. There’s £10m deflating away in the company coffers needs to be earning!! I’ve read an RNS regarding expanding Zap Map and will be carefully reading the EoY accounts to see what’s happening regarding this.
I think this might be holding back the company’s value getting with reference to Cuddy original post.
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GOOD already has lots of Feed-in-Tariff (FiT) customers/suppliers (see the recent RNS: 180,000), so despite selling off directly-owned generation assets, it's still a major player. Esp. worth noting is that the original (and to-date) model for FiT properties is that half of the electricity generated is 'deemed' to be the amount supplied to the grid, regardless of the actual amount exported or not. I guess that things have moved on and the technology is now better able to measure how much power actually gets exported, so great that GOOD sees that and is offering something to cater to it (esp. for people who are out during the day while their home's solar panels are generating electricity that's not being used in their own home)
…….sorry not as eloquent as NotBot!!