The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Would expect it to test 2000 to be honest, be interesting to watch as the bad news settles. Eyes peeled.
incredible how much the price has dropped, makes this very cheap compared to its legacy.
worth while buy and hold
you have to look at it from an infrastructure point of view, for the UK and EU until be have super fast charge batteries then the only way to have enough quick capacity to "fuel" the cars is with hydrogen.
Also this is the way that large haulage will go, as batteries weight too much currently.
batteries will rule longer term - 40 years from now, but until then it will be a combination of both technologies.
i think you need to read up more on the whole situation rather than point to one piece of the puzzle.
If you think hydrogen is the future, then you're living in cloud-cuckoo-land. The Chinese are going to dominate the battery and EV car market spaces in the coming years, and their EVs are coming to the UK, EU and USA and start to take over these markets like the japanese cars and motorcycles did in the west in the 20th century by virtue of price and decent quality. JMAT just haven't made enough progress and alliances in the battery sector. Dissapointing, but expected. Still, it's not the end of the world.
there is a lot of focus on battery, however in real terms it will be a combination of battery and hydrogen that it lead to the end of petrol vehicles.
For sure the one basket still has a multitude of products, but I’m just emphasising the disappointment on the company not being able to capitalise on this part of the business. I would have expected this decision to have been made a long time ago, for example when they sold the battery systems to Cummins in early 2018, was that not sign back then?
How on earth are JM putting all their eggs in one basket? This is just one of many areas that they've given up on. Yes it's a surprise, but, they are obviously confident it wouldn't be profitable for them. Very poor its taken so long to work that out but better to cut losses now than later.
Batteries are a now market, but, IMO, are not a very long lasting market. Hydrogen is the future, better to be at the forefront of that ready for when the market catches up!
To an extent, yes. But JM are now limiting what they can do and putting their eggs into one basket. Surprised they’re not looking at finance options to keep this work going, maybe they’re just not very good in the department? I don’t think it’s a good move, regardless. Battery development is hyped for a very good reason, shame.
The company is still a massive revenue generating business, the choice to cease work in one area is a wise one if they know it will cost too much to scale.
They have said they are continue to work in Hydrogen, and the fact is that it will be both hydrogen and battery that will run all cars in the near future. As such, if they get a dominate position in hydrogen then will corner the market and be making tons of money.
It's a massive about turn that's what it is. Previously they'd advised potential sale of the health ingredients business to focus on battery/hydrogen and now this. Liam Condon announced his resignation from the Crops Business at Bayer last week - does this mean they're keeping health?! This is going to lead to a carve up of JMAT IMO......
It's a massive about turn that's what it is. Previously they'd advised potential sale of the health ingredients business to focus on battery/hydrogen and now this. Liam Condon announced his resignation from the Crops Business at Bayer last week - does this mean they're keeping health?! This is going to lead to a carve up of JMAT IMO......
Now: does this mean a decisive board, reacting before the problem gets bigger, or does it mean a business that is losing some of its core market and can't decide what to do next?
Yet another underwhelming update. The CEO should have been retired years ago.
24th Nov.
Decided to open a position here.
c 10% off 12 month ATH.
This week’s update states: “The year has started well, with a continuation of the good demand seen in the second half of 2020/21. In the first quarter we delivered strong sales¹ growth of 63% year-on-year….Sales have returned to pre-pandemic levels, and operating profit is ahead driven by more volatile and higher average precious metal prices.
“Given the strength we are currently seeing in our end markets, we now expect at least mid teens growth in underlying operating4 performance at constant metal prices5 and constant currency.”
Low debt level.
Hopefully the market was waking up to JMAT Friday afternoon.
Does anybody know the date of the next trading update?
Can’t see anything mentioned in the last one or on the company website.
Usual long winded guff in order to hide poor performance.
JOHNSON MATTHEY (JMAT) £31.28
FTSE 100 chemicals firm Johnson Matthey (JMAT) is a stock that has long held promise, an innovative industrial company at the cutting edge of science that has the scale to match its ambitions. But with hopes continually raised only for
progress to take longer than investors, perhaps more so than the company itself, had anticipated, the stock has traded sideways for the last five years and sits well inside the value bucket with a 12-month forward price-to-earnings ratio of
14.5 times. The firm currently makes most of its money from catalytic converters in cars – it’s estimated one in three cars on the road worldwide has a Johnson Matthey catalytic converter. Two areas in particular mark the company out
as a potentially very exciting growth stock and the company has finally made sufficient progress that now is the time to buy before the catalysts that could drive a rerating of the shares are realised. One is the customised electric vehicle battery it
is developing – enhanced lithium nickel oxide, or eLNO. This is the area the market is most focused on with Johnson Matthey, as the firm reacts to what could over time be structurally declining demand for its catalytic converters as the world
transitions to electric vehicles. The company has previously told Shares it has been consistently getting ‘really good feedback’ on eLNO from its potential customers, typically the big car manufacturers but also others outside the auto industry. In its full year results to 31 March 2021, the company said it expects to sign its first automotive contract in 2023, for
commercial production in 2024. Meanwhile the firm is also developing fuel cells and is seeing rapid growth with the product, with sales up 20% in the past year. It supplies key fuel cell components for a range of automotive,
non-automotive and stationary applications, and has partnerships in place with a diverse range of manufacturers. Another area of promise for Johnson Matthey is hydrogen. The firm is developing green hydrogen, building on its fuel cell technology, as well as its expertise when it comes to platinum group metals. In a trading update in April 2020 Johnson
Matthey said it was making ‘fast progress’ and had received ‘positive feedback’ from testing with leading electrolyser manufacturers. It also announced new manufacturing capacity for products used in green hydrogen production, with the ability to scale to multigigawatt capacity ‘as the market continues its anticipated growth’. Based on Johnson Matthey’s market size estimates and a 15% market share across its relevant technologies, analysts at Morningstar think sales in its hydrogen and fuel cell businesses could reach around £850 million by 2030, up from £100 million in 2021. (YF)
I think that might depend on the terms of the agreement-and it's not likely we'll become privy to the finer details. Both should benefit in the long term though.
Today at least, Nano One won. But it’s all basically win win.
https://matthey.com/en/news/2021/nano-one-and-jm-joint-development-agreement
Buy JMAT or is there more money to made buying this Nano One outfit they are now in bed with?
(Disclosure - I have a shedload of Nano One)
The market certainly seems to like JMAT's announcement today:
https://matthey.com/en/news/2021/johnson-matthey-announces-manufacturing-capacity-for-key-components-in-green-hydrogen
Platinum powered of course. 2.59 percent spot price increase gives 4% increase in JMAT.
Times article Sunday 6th implies JMAT behind battery rivals in race for 0 emissions and needs to accelerate replacing cats with bats or else. Looks like tortoise versus hares to me, but then the tortoise won...
JMAT need to win the eLNO race (electric cars) to replace catalytic converters (combustion engines) as their main money spinner. In the eLNO race, there are three contestants. JMAT and BASF are racing to catch up with Umicore. Will JMAT cross the finishing line in time or are they doomed ? IMO looks too close to call but opinions welcome.
Getting production of eLNO going in 2024 has just risen by a mere 60% !!! In meantime, JMAT is sticking eLNO into household appliances as useful sandpit for developing the product and finding how best to scale up. While carmakers are running tests with eLNO, appliance projects have progressed to prototype stage.
Earlier this year, JMAT secured big loan to construct its first eLNO factory in town famous for its vodka ands sausages (somewhere in Poland), believed to be the centre of the future eLNO supply chain universe. Good luck with that ...