Updates - Delivering and developing

AML3D Ltd (ASX:AL3) was established in 2014 to commercialise the patented WAM (Wire Additive Manufacturing) process, an additive manufacturing technology for the cost-effective production of large, high-performance metal components and structures. The company has reported a positive outlook with Q3 results and forecasts a strong revenue and cashflow quarter in Q4. AL3 is currently building three machines for delivery in FY22 and expects another sale in Singapore. The company has orders for two m

AGL begins 3D printing power station parts on demand

AML3D Ltd (ASX:AL3) was established in 2014 to commercialise the patented WAM (Wire Additive Manufacturing) process, an additive manufacturing technology for the cost-effective production of large, high-performance metal components and structures. The company has reported a positive outlook with Q3 results and forecasts a strong revenue and cashflow quarter in Q4. AL3 is currently building three machines for delivery in FY22 and expects another sale in Singapore. The company has orders for two m

Stronger result with good momentum

AML3D Ltd (ASX:AL3) was established in 2014 to commercialise the patented WAM (Wire Additive Manufacturing), an additive manufacturing technology for the cost-effective production of large, high-performance metal components and structures. The company has reported a positive outlook with Q3 results and forecast a strong revenue and cashflow quarter in Q4. AL3 is currently building three machines for delivery in FY22 and expects another sale in Singapore. The company has orders for two more machi

FY22 revenues up, strategy clear

AML3D Ltd (ASX:AL3) was established in 2014 to commercialise the patented WAM (Wire Additive Manufacturing), an additive manufacturing technology for the cost-effective production of large, high-performance metal components and structures. The company reported a positive Q2 result with increasing interest in large-scale 3D printed parts from aerospace and energy companies. AL3 is supplying two machines to universities in FY22 and expects another sale in Singapore. The company has sufficient cash

Stronger result with good momentum

AML3D Ltd (ASX:AL3) was established in 2014 to commercialise the patented WAM (Wire Additive Manufacturing), an additive manufacturing technology for the cost-effective production of large, high-performance metal components and structures. The company has reported a positive Q2 result with increasing interest in large-scale 3D printed parts from aerospace and energy companies. AL3 is supplying two machines to universities in FY22 and expects another sale in Singapore. Expenses are under control

Standards change speeds market penetration

AML3D Ltd (ASX:AL3) was established in 2014 to commercialise WAM® (Wire Additive Manufacturing), an additive manufacturing technology for the cost-effective production of large, high-performance metal components and structures. The company has reported lower levels of customer conversion in Q1FY22 because of the impact of COVID-constrained business development and order completions. AL3 has $5.4m in cash and has been active in developing opportunities in the quarter despite these obvious constra

Q1Fy22 - Leads strong, sales slowed by COVID

AML3D Ltd (ASX:AL3) was established in 2014 to commercialise WAM® (Wire Additive Manufacturing), an additive manufacturing technology for the cost-effective production of large, high-performance metal components and structures. The company has reported lower levels of customer conversion in Q1FY22 as a result of the impact of COVID-constrained business development and order completions. AL3 has $5.4m in cash and has been active in developing opportunities in the quarter despite these obvious con

University of Qld purchases ARCEMY module

AML3D Ltd (ASX:AL3) was established in 2014 to commercialise WAM® (Wire Additive Manufacturing), an additive manufacturing technology for the cost-effective production of large, high-performance metal components and structures. AL3 listed on the ASX in April 2020 at $0.20/share, raising $9m, and raised an additional $7m in October 2020 to hasten the commercialisation programme. The company has established a contract manufacturing facility in Adelaide, is establishing a similar facility in Singap

Research framework with Deakin University IFM

AML3D Ltd (ASX:AL3) was established in 2014 to commercialise WAM® (Wire Additive Manufacturing), an additive manufacturing technology for the cost-effective production of large, high-performance metal components and structures. AL3 listed on the ASX in April 2020 at $0.20/share, raising $9m, and raised an additional $7m in October 2020 to hasten the commercialisation programme. The company has established a contract manufacturing facility in Adelaide, is establishing a similar facility in Singap

Additive manufacturing matures

AML3D Limited was established in 2014 to commercialise WAM® (Wire Additive Manufacturing), an additive manufacturing technology for the cost-effective production of large, high-performance metal components and structures. AL3 listed on the ASX in April 2020 at $0.20/share, raising $9m and raised an additional $7m in October 2020 to hasten the commercialisation programme. The company has established a contract manufacturing facility in Adelaide, is establishing a similar facility in Singapore and

Renold - Strong end to FY24: EPS up 11%. Robust FY25: EPS up 27.6%

The FY24 year-end update is very upbeat signalling trading being materially ahead of expectations, with a better-than-expected profit out turn and stronger cash generation. It continues to strengthen margins through efficiencies and investment in modern equipment. The order book remains close to record levels providing a robust view of future forecasts. In FY24E we upgrade EPS by 11% and in FY25E a significant upgrade of 27.6%. It looks capable of declaring a dividend in FY25 as well as manageme

Invinity Energy Systems - Update on Strategic Investment

Invinity’s update on discussions with strategic investors reveals interest from multiple parties. While this has slightly delayed finalising an agreement it increases the potential for a better outcome. Although details are unknown at this stage, we think there is enough in the statement to be comfortable that any agreements will be consistent with the company’s strategy of growing market share in core markets and using a licencing and royalty model in other markets.

Morning Note – 15 April 2024

PROGRESSIVE: Severfield: Targeted acquisition strategy aids growth path

Acquisitions have been an important element of Severfield management’s growth strategy, with the aim of adding new products, sectors and regions to what we have identified as exciting long-term organic opportunities. In this Spotlight report, we focus on the group’s targeted M&A approach, highlighting three significant deals.

Billington Holdings - Record result boosts dividend; forecasts upgraded

FY23 results show very strong growth over FY22, driven by strong Structural Steel activity, with results slightly ahead of upgraded profit expectations, while stronger than expected cash flow resulted in an unexpectedly generous dividend of 33p (offering a FY23 yield of 7.0%). The group now has net cash of £22.1m and is debt free and is therefore in a strong position for potential M&A activity. Following the recent £90m of new orders to increase the order book to record levels we conservatively

FY results: strong cash flow

Warns on brine supply costs

SP Angel . Morning View . Copper prices hold higher as China processing fees fall below $0/t amid low feedstock availability

Clean and competitive fertiliser

Hardman & Co Insight: 2023 was an annus horribilis for Quoted UK Infrastructure and Renewable Energy

The focus of Hardman & Co Research is on the nine quoted Infrastructure Investment Companies (IICs) and on the 22 Renewable Energy Infrastructure Funds (REIFs): the stocks analysed are all members of the Association of Investment Companies (AIC). We are updating our publication of January 2023, assessing both the lacklustre share price performances during 2023 and the key issues, including interest rates, inflation and power prices. As a 31-strong group, its combined market capitalisation is no

Morning Note – 16 April 2024

Norcros - FY24 trading in line with expectations

FY24 trading underpins Norcros’s compelling investment case, where its new product development initiatives, market positioning and self-help initiatives allow it to take market share in both the UK and South Africa. We believe that Norcros’s key strengths are underappreciated and that legacy issues have been resolved. Its rating is low at 5.6x FY24e P/E, which is attractive, especially when compared to its yield of 5.7% on its well-covered dividend. We retain our estimates and value the shares a

Norcros (NXR LN) - FY24 trading update

Norcros has provided a FY24 trading update for the year to 31 March 2024 showing revenue and profitability to be in line with expectations. Reported revenue of c. £390m is down 11.1% yoy but broadly in line with Zeus forecast of £395.5m.

LIBERUM: Gattaca: Resilient contract performance, perm tough

PROGRESSIVE: SDI Group: H1 24 – well-placed for the post-Covid normal

SDI has indicated that a slowdown in the life science / biotech market, and some resultant destocking, is likely to impact its expected FY24 revenue, leading the group to moderate current year guidance for both revenue and adjusted EBITDA. SDI notes that FY24 represents a short-term phenomenon, due to the over-ordering of the past three years caused by inflated Covid demand. However, we remain confident for the long term, given the strength of SDI’s ‘buy and build’ business model, with a number