Update from SMS indicating that underlying PBT is marginally ahead of Board expectations, with expected FY20E net cash £30m. Smart meter installation run-rates are over 80% of pre-Covid-19 lockdown levels. Good progress has also been made with its CaRe asset strategy, with grid-scale battery storage projects now under construction. We continue to believe SMS remains substantially undervalued given: i) Base case DCF valuation of 1,222p; ii) Base case DDM valuation of 1,334p; iii) strong visible g ....
17 Dec 2020
Cenkos: Smart Metering Systems Plc - Trading update and energy transition focus
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Cenkos: Smart Metering Systems Plc - Trading update and energy transition focus
Smart Metering Systems PLC (SMS:LON) | 954 -28.6 (-0.3%) | Mkt Cap: 1,318m
- Published:
17 Dec 2020 -
Author:
Ian McInally -
Pages:
18
Update from SMS indicating that underlying PBT is marginally ahead of Board expectations, with expected FY20E net cash £30m. Smart meter installation run-rates are over 80% of pre-Covid-19 lockdown levels. Good progress has also been made with its CaRe asset strategy, with grid-scale battery storage projects now under construction. We continue to believe SMS remains substantially undervalued given: i) Base case DCF valuation of 1,222p; ii) Base case DDM valuation of 1,334p; iii) strong visible g ....