Cyanconnode (CYAN): Acceleration, and revenue uplift for FY24 and beyond

CyanConnode is currently involved in Indian tenders for more than 100m meter endpoints, and its partners have already secured L1 preferred bidder status for c.30m incremental meters. In addition to the 2.3m orders won in the fiscal year to date, CyanConnode has entered into a framework agreement with a partner to supply hardware and software for 3m endpoints for future contract awards under the Indian smart meter programme. Our revised forecasts represent an initial step towards reflecting the p

Cenkos: CyanConnode Holdings Plc -- Termination of Coverage

Cenkos Securities plc has terminated coverage of CyanConnode Holdings plc. Our previous recommendation (BUY) and forecasts can no longer be relied upon. Please contact Cenkos for further information.

CyanConnode (CYAN LN) - The smart choice

CyanConnode provides end-to-end communications platforms that connect Internet of Things (IoT) devices such as smart meters to a utility's billing system. The company is a global player and a market leader in India, where a new government scheme, as set out below, has mandated the procurement of 250m meters by March 2025, a significant market opportunity for CyanConnode.

Hybridan Small Cap Feast 14/12/22

Dish of the day Joiners: No joiners today. Leavers: No leavers today. What’s cooking in the IPO kitchen?** Celsius Resources intends to join AIM. Currently ASX listed, Celsius is a natural resources exploration and development company principally seeking to explore and develop potential world-class copper-gold assets in the Philippines and a cobalt asset in Namibia. Amount planning to raise and anticipated market cap TBC. Expected late December 2022. Smarttech247 Group intends to join AIM. The c

Cenkos: CyanConnode Holdings Plc -- Indian Tenders Roaring Ahead

CyanConnode has released interim results for the period ending September 2022 in-line with full-year estimates, leading us to keep forecasts unchanged. Revenues will be weighted towards H2/23E as shown by Q3/23E revenues being on course to be at least 3x higher than H1/23A. Q4/23E revenue is expected to be c2x that of Q3/23E revenues, which aligns with Q4 consistently being the busiest quarter each year as there is a flurry of activity before the 31 March year-end for Indian companies. Since we

CyanConnode* - H1 results published, with encouraging outlook

H1 results published, with encouraging outlook

Cyanconnode (CYAN): Indian smart meter programme update

On 14 and 15 October 2022, the Indian Ministry of Power held a “Brainstorming Session” at the Power Ministers’ Conference. The presentation for the session contains a detailed update on the smart meter rollout in terms of rationale, targets and current progress. The Indian Government’s commitment to achieving the replacement of 250m meters remains emphatic, likely reinforced by the positive benefits delivered so far in terms of key metrics, such as billing and collection efficiency. Deployments

Hardman & Co Research on CyanConnode Holdings plc (CYAN): October 2022 Investor Forum – Smart meter breadth and depth

Smart meter breadth and depth CyanConnode has steadily been making progress in India, where the national smart meter programme has been gathering pace. In July 2022, the company crossed the one million mark for meters connected to its RF network across nine Indian states. This is the aggregate RF device number in India connected since 2014 and represents market share of 22%. The latest update from the company states an order book of 2.6m RF nodes for India. Performance of smart meters is a criti

Cyanconnode (CYAN): Smart meter breadth and depth

CyanConnode has steadily been making progress in India, where the national smart meter programme has been gathering pace. In July 2022, the company crossed the one million mark for meters connected to its RF network across nine Indian states. This is the aggregate RF device number in India connected since 2014 and represents market share of 22%. The latest update from the company states an order book of 2.6m RF nodes for India. Performance of smart meters is a critical aspect of the Indian progr

CyanConnode* - Reaching the Inflection Point

Reaching the Inflection Point

Cenkos: CyanConnode Holdings Plc -- Strategy meshing together successfully

CyanConnode is a market-leading provider of telecommunications technology in the smart meter industry and is currently geared towards the vast expansion programme of electricity meter set out by the Government of India. In the past year it has built on its prior success, growing revenue by c50% and reducing net losses by c60% bringing it closer to profitability. CyanConnode trades on an FY1 EV/Sales multiple of 2.7x, which is a discount to its peer group trading on 4.1x. This leads us to an impl

Hot Off The Wires - The Day Ahead

Today's news and views, plus announcements from: WIZZ, SXS, 3IN, CNA, HDD, CYAN, AVAP, & GFRD.

Cyanconnode (CYAN) - New contract, fundraising and Indian developments

CyanConnode is awaiting news with respect to the first large tranche of smart meter contracts in India, for which it is an established supplier of intelligent communications modules. In the meantime, contract wins in other markets continue; for example, this week’s announcement of a win in the Middle East and North Africa (MENA) region, which we expect has a multi-million pound value. The recent fundraising of £2.0m gross saw strong investor support ‒ this was a growth-centric initiative as the

Cyan Holdings - Termination of coverage

Edison Investment Research is terminating coverage on: • 2G Energy (2GB) • Apontis Pharma (APPH) • Artec technologies (A6T) • Beta Systems (BSSA) • Blue Cap (B7E) • Cyan (CYR) • Consus Real Estate (CC1) • Daldrup & Soehne (4DS) • DATAGROUP (D6H) • Datron (DAR) • Delignit (DLX) • Deutsche Börse (DB1) • Deutsche Grundstücksauktionen (DGR) • Deutsche Rohstoff (DR0) • DVS Technology (DIS) • Edel (EDL) • Ernst Russ (HXCK) • Exasol (EXL) • expert.ai (EXAI/EXSY) • Fashionette (FSNT) • Formycon (FYB)

Hybridan Small Cap Feast - 23 Mar 23

23 March 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment objectiv

Hybridan Small Cap Feast - 14 Mar 23

14 March 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment objectiv

Hybridan Small Cap Feast - 13 Mar 23

13 March 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment objectiv

SRT Marine Systems - £145m project won but Systems sees implementation delays

Following an extensive selection and negotiation process SRT has secured a huge £145m contract to provide a full MDA system to a new foreign Coast Guard customer. The project is being financed through a UK government (UKEF) loan to the overseas government and will proceed when that paperwork is completed in a few months; a LoI has been issued pending the formalities. Deployment should take two years (c80% of the contract value likely to be booked in FY24 and FY25) followed by ongoing support and

Morning Note – 23 March 2023

Bigblu Broadband - Strong FY22 with EBITDA +2% ahead, focus on realising value

In today’s FY22 results, BBB has reported organic revenue growth of +12% to £31.2m, adjusted EBITDA +2% ahead of the trading update at £5.1m, and net cash in line at £4.2m. Australasia’s +14% organic growth to £26.5m has powered the group, while Nordic organic revenue growth was -13% due to the cyber-attack on ViaSat impacting BBB’s satellite customers, and the lapping of the decommissioning of c100 fixed wireless towers in FY21. Management’s focus on cost while selectively investing in growth h

Morning Note – 20 March 2023

PROGRESSIVE: Gamma Communications - Continuing UK growth drives profit and cash

Gamma’s results for the year ended 31 December 2022, released today, are in line with expectations and guidance, and show a strong performance with 8% growth in revenue (£484.6m vs FY21 £447.7m), 10% improvement in adjusted EBITDA (£105.1m vs FY21 £95.4m) and 12% increase in adjusted diluted EPS (71.8p vs FY21 64.0p). Cash generated by operations was up by 10%, resulting in year-end net cash (pre-leases) of £92.5m (FY21 £49.5m). Trading in the UK, in both the Indirect and Direct businesses, was

SRT Marine Systems - Systems revenue and Transceiver growth sees 1H profit

1H23 saw a welcome return of significant Systems revenue alongside strong yoy growth for the Transceivers business. In the past two years, the pandemic slowed installation of existing Systems contracts and paused the processing of new deals, leaving SRT to rely on c.£8m pa of Transceivers sales. With lockdown restrictions easing around the world this year, Systems deployment has accelerated, and meeting revenue milestones helped group 1H revenue jump >300% to £18.8m, generating Adj. PBT of £2.2m

Hybridan Small Cap Feast - 16 Feb 23

16 February 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment objec