Mpac Group Plc Share Price (MPAC)

This is quite a quiet share board, so don't be discouraged. But the company does seem to be doing well, gathering new orders etc. Fingers crossed.

Surely this is very good news?

"Award of £1.2m order for a 1.5MWh solid state battery assembly line

Mpac Group plc (AIM: MPAC), a global leader in engineering and automation providing assembly and packaging solutions, announces that it has received a £1.2m order to deliver a SiSTEM pilot battery assembly line secured by funding from the Automotive Transformation Fund (ATF), partnered with Ilika, Agratas and The UK Battery Industrialisation Centre ("UKBIC")."

They're doing it for Freyr in Norway, the battery gigaplant, now have an order for something here along the same line. Confirmation. And there's nothing like doing it: they will be learning at every step - and gaining from the other participants.

No one seems very excited. Have I got this right?

Was looking to buy Ilika but research led me here because their industrial reach was better. Now their battery conveyor belt for Ilika is coming good and I am nicely ahead. Moral: Before you rush in to an exciting spec do EXTENSIVE research.

Happy to hold here.

Adam Holland (CEO) and Will Wilkins (Group Finance Director) of Mpac Group conducted an Investor Presentation covering their FY Results for the period ended 31 Dec 2023.

After a short video ("Innovation Unleashed"), management ran viewers through highlights of the period including strong financial performance, returning the Group to revenue and profit growth, and positive net cash. The team updated investors on progress towards strategic objectives and discussed the Group's ambitions, as well as providing a detailed financial review and answering questions in a wide-ranging Q&A session.

The full video is available below, divided into chapters:

0:00:03 Mpac corporate video ("Innovation Unleased")

0:06:49 About Mpac, including case studies (Adam Holland, CEO)

0:21:22 Financials (Will Wilkins, Group FD)

0:30:53 Ambition & Strategy

0:39:38 Summary & Outlook

0:40:35 Questions & Answers

Full video here: https://www.equitydevelopment.co.uk/research/mpac-group-investor-presentation-fy-results-march-2024

Detailed new research report here: https://www.equitydevelopment.co.uk/research/going-for-growth-fy23-results-ahead-on-all-metrics

For the year to 31 December 2023, Mpac Group reported results which were ahead on all key metrics.

Revenue of £114.2m, +17%YoY, was 7% above ED outlook and EBITDA (adj.) of £10.7m, 12% above our outlook, a 9.4% margin (FY22: 7.0%). The closing order book of £72.5m was up 8%YoY, backed by record £118.5m order intake, an impressive +41%YoY.

Mpac achieved its initial goal of a return to normalised operations and has established a firm platform for growth. Accordingly, the Group has launched a new five-year roadmap with an ambition to broadly double revenue from their existing businesses.

We have raised our Fair Value from 485p/share to 530p/share with the prospect of FY25 adj. EBITDA c.40% above FY23.