Member Info for iWantThatOne

Encouraging trading update today. FY Revenue of $118m, which implies H2 revenue almost identical to H1. In H1 profit before tax was $16.8m but the company refers to a strengthening in H2, so perhaps FY PBT of more than twice the HY figure - $33.6m upwards. Last year was $39.3m. What that means for the dividend, who knows - maybe down from last year but still giving a strong yield.

This isn’t a side show, this will have come from the strategic review that highlighted other opportunities to deploy the fuel cell besides chlor-alkali and diesel. Agreed there are major issues still to resolve but what a coup! And a desperately needed development. It wasn’t the RNS I was expecting but I’m very happy with this. Good to see the PR machine working, I’ve got tweets coming through from AFC every few minutes.

Happy with that RNS. Sino are obviously in it for the long term, so we’ll have some much needed stability. The up-front payment and increased production will (should) eliminate any concerns about a placing just to keep the lights on. As others have said, we now need HR news to shift the SP significantly upwards.

Is this a joke? The chart he’ll show to potential investors will be interesting - you know, the one that shows the value he’s created from his current investors. He’d better turn it upside down...

Or was it more a case of underbought, caused by an absence of news, lack of cash, and a lack of faith in management....

I see the client for that Weholite piping at Dunsfold was DB Energy Ltd, who seem to share two directors with H2Power - both “gas manufacturing” businesses.

My expectation is that this deal is more or less signed and sealed and simply waiting for the first commercial order to trigger it. Ditto the stack manufacturer. There’s little reason to announce these agreements in isolation, especially the de Nora one since electrode development continues, but we may get a rash of RNSs one after the other. So frustrating!

“Chelsea FC owner Roman Abramovich has emerged as the biggest London stock market winner of 2018, chalking up average gains of more than £1.6m a day from his share portfolio”. (Sunday Times).

Yes that cash burn does look a lot - one-off capital expenditure of some kind which means it doesn't appear in the Income Statement? Also the EUS rate of growth is not quite as large as Cenkos were forecasting (£592m for the year I think), and it looks like it was supported by a couple of Google Play activations too. This doesn't concern me too much as long as the total EUS (or rather, total revenue) keeps on growing well, but the company will need to get its communications spot on - any suggestion that the rate of EUS growth is slowing needs to be carefully managed if the market isn't to spook. If the data business is growing rapidly and more than compensates for a slight slow-down in payments growth (though still very large), I'm comfortable with that.

Ha ha, you do make me laugh.

Good update today, growth rates continuing, the whole company EBITDA positive in Q4. If the EUS doubles again in 2019 then that’s a further £5m or so to the bottom line from the payments side, but that ignores the growing contribution from Audiens. If that grows strongly then EBITDA for the year could well be £6 or £7m in my view. Knock off several £m for depreciation, amortization etc and pre/post tax profits would be £5m - ie a forward PE of just 12 at this share price.

And didn’t the company play down all requests for an investor day, implying that by the next AGM we’d all be clapping them on the back?! Anyway, a Merry Xmas and Happy New Year to everyone - despite evidence to the contrary, I really do believe it’ll be our year.

I hope to God that at this sp level the BoD is urgently looking at alternatives to a placing - debt, a loan from Ervington, (if still around),, whatever, Even if just enough to get us through one or two months to the news we’re all expecting, and the sunlit uplands of 10p+.

Very low mcap (c£60m) considering the payments business is already EBITDA positive and Audiens is expected to be so within the next 6-12m! Sufficient cash to see the company through to profitability.

Mcap of £18m now. Come on folks, if we all dig around the back of the sofa and swap our holiday money into sterling we can buy a serious chunk of the company! As for tonight, the PM to survive, the EU to give no concessions, Parliament to vote down the plan and then....er....

Hi Risky, if it wasn’t for the cash rapidly running out, I’d be content to let the technological and commercial developments run their course. The fact that a cash raise at a ruinously low share price is imminent (we think) is, imo, the main thing (amongst others) holding back the SP. I’d rather hear about a strategic investment than anything else right now.

I agree, if the company does indeed meet FY expectations then buying at this price delivers a great dividend yield with excellent cap growth prospects.

Nonsense DW, I could quote you many examples of UK companies distributing in Asia via exclusive distribution arrangements due to the vagaries of local law, regulation, language, working practices and culture, as well as their being closer to the markets. Don’t bother replying.

Quite right, I don’t, BB, but the fact is that there are very few potential purchasers whose names have been publicly linked with AFC. They might have a long list of such enterprises with whom they’ve had conversations, but I hold the view that AFC have focused more on technical advancement than PR and getting their name out there. The poor state of the website, the lack of publicity and thought leadership articles, and the non-attendance at many industry forums all speak volumes.

DW, who the **** do you think you are? Just got out of the gym to read your abuse. The point I was making, which clearly didn’t get through your skull, was that little ol’ AFC hardly has global reach does it, especially when it comes to the diesel market which it knows very little about? If it wants to disrupt that market in, say, the APAC region then it needs some help. A local distributor who knows the diesel market inside out would be a useful partner.