Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on PROTON POWER SYSTEMS PLC. We currently have 2 research reports from 1 professional analysts.
|26Sep16 07:00||RNS||Half-year Report|
|02Aug16 07:00||RNS||Board changes, restructuring and trading update|
|01Jun16 12:15||RNS||Result of AGM|
|31May16 07:00||RNS||Seven year framework agreement|
|23May16 07:00||RNS||Order for the Orkneys "Surf and Turf" project|
|06May16 07:00||RNS||Final Results|
|29Apr16 07:00||RNS||New Order|
Frequency of research reports
Research reports on
PROTON POWER SYSTEMS PLC
PROTON POWER SYSTEMS PLC
Contract win now a framework agreement
31 May 16
Proton Power Systems (PPS) has signed a seven year framework agreement worth €15m with a blue chip German customer for fuel cell emergency power units. These are expected to be delivered and installed over a seven year period. This follows the first binding order received in April 2016 from the customer worth €1.8m in 2016. As this agreement covers only one of Germany’s regions there is potential for it to grow substantially. We view this news positively and will reinstate formal research coverage in due course.
Recent contract win puts FY15 in perspective
06 May 16
Proton Power Systems (PPS) has reported its 2015 final results and while revenues reduced to £0.7m from £1.4m this masks the substantial operational progress that has been made over the last 12 months or so. This manifested itself in the recent £1.3m order for emergency power solutions in outdoor cabinets to be delivered in 2016. This is the most significant order PPS has received in its 21-year history.
20 Feb 17
Hayward Tyler Group* (HAYT): Trading update and financial position (CORP) | Petra Diamonds (PDL): Interim results (BUY) | Gemfields* (GEM): Interim results (CORP) | Premaitha Health* (NIPT): Middle East momentum (CORP) | Sound Energy (SOU): Acquisition update and TE-8 well spud (HOLD) | Proactis* (PHD): Interim trading on track (CORP) | 7digital* (7DIG): Automotive contract win (CORP)
The Slide Rule
12 Jan 17
What is The Slide Rule? The Slide Rule has been designed to dramatically simplify the identification of the best companies in the UK small/mid-cap sector by making a quantitative assessment of the relative potential of each company. At its core, The Slide Rule aims to identify those companies that create genuine shareholder value through strong returns on capital and solid growth, but also present a value opportunity with the potential tailwind of earnings momentum. Companies are assessed within a Quality, Value, Growth and Momentum (QVGM) framework.
Opuama production restarts
21 Feb 17
Eland has confirmed the successful restart of exports from OML 40 through the new shipping alternative that it has implemented. Sales from the export terminal are expected imminently, re-establishing cash generation for Eland. Cash at YE16 was US$11.1m which has since reduced to US$5.9m, mainly reflecting initial operating expenses for the shipping alternative. While it is early days, Eland has demonstrated its ability to restart exports and production from OML 40 following the shut-down of the Forcados terminal a year ago. Production to date is averaging around 7kbd and we expect that to ramp up as Opuama operational performance improves. At US$55/bbl Brent, we estimate Eland is generating a net cash margin of around US$25/bbl. We reiterate our Buy recommendation and 95p per share Target Price.
Small Cap Breakfast
24 Feb 17
GBGI—Schedule One update from integrated provider of international benefits insurance. Raising £32m at 150p. Admission expected tomorrow. Anglo African Oil & Gas— Admission expected early March. Acquiring stake in producing near offshore field in the Republic of the Congo. Guinness Oil & Gas Exploration—Publication of prospectus. Seeking to raise £50m and invest in 15 exploration companies at launch, with plans to grow the portfolio to 30 positions during its lifetime. Issue closing 23 Feb.
Operating update and shareholder activism
15 Feb 17
December and January have seen the emergence of shareholder activism at Bowleven (BLVN), bringing its strategy and management into greater focus. Its largest shareholder (Crown Ocean Capital, COC) evolved from being a supportive shareholder to voting against a number of resolutions at the December AGM, to recently calling for the widespread removal of the board and a radically different company structure. Operationally, the company reports that a new development concept is under review by the stakeholders in Etinde, where production would be piped to existing gas processing facilities in Equatorial Guinea. Such a solution would (if approved) require significantly less capex and could be brought online relatively quickly vs other solutions (fertiliser, FLNG, gas to power). We leave our valuation largely unchanged, save for a revision to cash holding to reflect the recent operational update. Our new core NAV is 49p/share.