H118 has started well with 33% y-o-y jump in revenues taking Windar close to EBITDA breakeven. The distribution agreement with Vestas announced in June should help drive sales to independent power providers (IPPs) globally. However, a shortage of key components in Q218 means the company has issued FY18 revenue guidance of €4.0–4.5m, which is significantly below our previous estimate. We revise our estimates and adjust our indicative valuation from 125p/share to 124p/share.
01 Oct 2018
Windar Photonics - Continued strong growth in revenues
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Windar Photonics - Continued strong growth in revenues
Windar Photonics Plc (WPHO:LON) | 45.0 -0.9 (-4.3%) | Mkt Cap: 36.6m
- Published:
01 Oct 2018 -
Author:
Anne Margaret Crow -
Pages:
6
H118 has started well with 33% y-o-y jump in revenues taking Windar close to EBITDA breakeven. The distribution agreement with Vestas announced in June should help drive sales to independent power providers (IPPs) globally. However, a shortage of key components in Q218 means the company has issued FY18 revenue guidance of €4.0–4.5m, which is significantly below our previous estimate. We revise our estimates and adjust our indicative valuation from 125p/share to 124p/share.