Xeros has issued an update relating to the timing of entry to the Indian commercial and domestic laundry markets through its customer in the region, IFB. As expected, IFB has now made its first commercial sale, to Radisson Hotels, with more likely to follow in FY2021. On the domestic side we had assumed IFB would launch during Q4 2021 but, due to significant COVID disruption, this is now looking unlikely. We now assume launch during Q1 2022. We shave off £0.2m from our FY2021 revenue expectation
Companies: Xeros Technology Group (XSG:LON)Xeros Technology Group Plc (XSG:LON)
Companies: DEST XSG XSG ARB
Companies: COG CHAR MPE RBG PPC XSG XSG CGH GDR
Companies: RBN STM TSTL KRM XSG XSG
Companies: SNG PPC XSG XSG
Companies: PHD AGL STX XSG XSG ARB
Xeros has reported FY results for the year ended December 2020. Revenue and cash position were in line with our expectations but do not reflect the future potential within the group. Commercial progress remains as expected, with the potential of XFiltra looking particularly exciting. We are not materially changing our forecasts and reiterate our 400p price target.
Companies: Revolution Bars Group Plc (RBG:LON)Xeros Technology Group Plc (XSG:LON)
Xeros has raised £8m (gross) to productise the extremely promising XFiltra product and to assist with some pandemic-induced licence slippage.
Companies: Xeros Technology Group Plc
Companies: Gateley (Holdings) Plc (GTLY:LON)Xeros Technology Group Plc (XSG:LON)
Companies: FOUR D4T4 XSG
Allergy Therapeutics (AGY): Corp FY 2020 – record pre-R&D EBIT | Amino Technologies (AMO): Corp Argentinian software contract win | ANGLE (AGL): Corp Peer reviewed publication, using Parsortix in MBC | Bigblu Broadband (BBB): Corp Quickline secures up to £6.1m of subsidy in Lincolnshire | Hardide (HDD): Corp Trading in line with a stronger Q1 expected | Trackwise Designs (TWD): Corp Interim results, new contracts boost confidence | Xeros (XSG): Corp Commercial progress tracking in line with exp
Companies: AGY AGL XSG TWD BBB HDD
Xeros has announced interim results for the 6 months to June 2020. This marks a period when the company has completed its transition to an asset-light, IP licensing business model through the disposal of all direct operations. A strong cash position coupled with substantially reduced costs should enable Xeros to reach profitability in H2 FY2022E. Despite COVID, commercial progress is tracking as we would expect. Hence we are not changing forecasts for the current (or future) years and our target
Bigblu Broadband (BBB): Corp BBB’s SkyMesh becomes Australia’s largest satellite ISP | Hardide (HDD): Corp Trading update: oil sector demand softens | Morses Club (MCL): Corp Collections holding up on a reduced loan book | Savannah Resources (SAV): Corp Positive metallurgical update | Xeros (XSG): Corp Verification milestone for XFiltra
Companies: SAV XSG BBB HDD
Xeros has announced a placing raising £5.7m (gross) at 0.5p/share to fund the business model through to profitability and cash generation. We have now sensitised our forecasts for COVID19 and expect circa six months delay to projects with Chinese and Indian licensees, but we believe that the impact on the long-term potential of the business and its valuation will be negligible. Our target price is adjusted to 2p/share to take account of the new shares being issued through the placing.
Research Tree provides access to ongoing research coverage, media content and regulatory news on Xeros Technology Group Plc.
We currently have 48 research reports from 3
AFC Energy announced that it has entered a hydrogen fuel cell supply and
collaboration agreement with partner, Urban-Air Port Limited (“Urban-Air”), a
leading UK developer of ground infrastructure for the growing demand in
autonomous airborne drones and electric take-off and landing passenger
Companies: AFC Energy plc
Companies: Ceres Power Holdings plc
Powerhouse’s partner HUI’s funding of long lead time items shows a commitment to the company’s first European project in our view. As with Powerhouse’s own funding of similar items at the initial UK project, this helps to de-risk the timeline and moves the company towards establishing a wider European market.
Companies: Powerhouse Energy Group PLC
Companies: Kier Group plc
Velocys continues to see supportive policies develop with the recent US proposed Sustainable Aviation Fuel tax credit adding to the potential attractiveness of projects in America. The company continues to progress its reference projects at Bayou in Mississippi and has provided technology under licence to Red Rock Biofuels in Oregon. Further policy support can only be helpful in growing opportunities for the company in North America in our view.
Companies: Velocys plc
Companies: DX (Group) Plc
Companies: Staffline Group plc
AFC Energy’s statements and recent integration work with ABB highlight growing interest from customers which bodes well for orders in the months ahead. The forthcoming S-series of products will expand the Group’s portfolio and should deliver much high power densities and improved economics. The deployment of fuel cell technology is increasingly recognised by Governments and industry as a key tool in reducing global greenhouse gas emissions, which we expect will drive momentum for deployment in a
H1 results reveal continued strong progress, with closing ARR up c.25% LFL at £6.6m driven by new subscription agreements, importantly validating CKT’s growing investment in sales and marketing with headcount doubling in H1. Meanwhile, CKT’s pipeline is up 4x since the start of the year so we anticipate growth to be maintained (or even accelerate) in H2. In this context, CKT is tracking comfortably in line with unchanged FY22 estimates, having achieved sales of £7.9m, ~53% of our full-year forec
Companies: Checkit plc
Oil declined amid Russia's plans to boost upcoming overseas oil sales and as the dollar rallied.
Futures in New York ended the session nearly 1% lower on Friday. Russia will increase its oil exports 3% in the fourth quarter, according to Interfax. Meanwhile, gains in the US dollar reduced investor interest in commodities priced in the currency.
Despite weaker prices on Friday, US benchmark crude futures gained more than 3% this week due to tightening supplies. In the US, crude inventories
Companies: FO 88E DEC EME GTC TRIN UOG WEN
Despite the challenges presented by the pandemic, TP Group Plc delivered strong organic revenue growth of c14% YoY in H1/21A, with Adj EBITDA increasing to £1.7m (H1/20A: £1.4m). Improving visibility leads us to upgrade our revenue forecasts by c4% for FY21E to £66.0m (90%+ of which was covered by the order book at H1/21A). Expanding margins in the Consulting division are expected to be offset by temporary margin pressure on Engineering contracts during FY21E (our £4.2m FY21E EBITDA remains unch
Companies: TP Group Plc
Exactly one year ago, the FTSE 100 closed at 5,862, having fallen 100 points on the day, the lowest point since mid-May 2020, due in part, to the strength of sterling vs US$ at $1.34. One year on, the FTSE 100 has risen to 7,119, a rise of 21%, it remains 7% below the peak in January 2020. From an international viewpoint, US and European markets continue to trade at record highs. The US Federal Reserve is close to withdrawing some of its economic support this year as inflation picks up and the e
Companies: AMYT BAG BVC BRSD CLG CML FBD GDWN INV MACF MNZS MIO NRR NSF NBI MATD PREM QFI RUA SCS STVG SUR SNX UPGS VAST VLS
Filta has released a solid set of H1/21A results, delivering Adj EBITDA of £1.3m (H1/20A £0.2m). Rising vaccination rates and the continued reopening of hospitality and leisure markets provide an increasingly favourable industry backdrop for the company. Filta is emerging from the pandemic with a stronger business profile and robust balance sheet, having launched new products and services, and expanded its customer list. Given the improving prospects, we believe Filta remains attractively valued
Companies: Filta Group Holdings PLC