Heading for record 2023 deliveries

Top Picks for 2023 - 2022 review and outlook for 2023

On 10 January last year, we set out our ten top stock picks for 2022, in what turned out to be a very poor twelve months for global equities, due to war, accelerating inflation, political instability and recession fears. Between 7 January 2022 and 31 December 2022, the AIM All-Share Index declined 30.0%, whilst the average performance of our ten top picks was -24.7%, a modest relative outperformance. In this note we discuss the performance of our 2022 top picks, equities trends in 2022, and our

Terminating coverage

Setting up a breakthrough year - Correction

ITM Power (ITM LN) - Trading update

• ITM has released a trading update, reporting on progress of the detailed review being carried out under its new CEO. This includes a profit warning, with FY 2023 results now expected to exhibit lower revenue and a higher EBITDA loss than previous guidance (existing guidance was to be at the lower end of the range on output of 48-65MW and £23-28m revenue, and was also for EBITDA loss of £45-50m), with the difference described as “material”. This has been driven by several factors: losses on cus

QuotedData’s Real Estate Monthly Roundup – January 2023

Performance - 2022 ended with another difficult month for property companies as the sector continues to get to grips with the impact of higher interest rates. There were several funds that performed well during December, however, with secondary shopping centre landlord Capital & Regional top of the pile. For a second month on the trot Home REIT saw its share price tank after it came under attack from a short seller in November. Valuation moves - It was a mixed bag for valuations, with six-month

This Week's AIM Highlights 20th January 2023

Hybridan Small Cap Feast - 11 Jan 23

11 January 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 object

LIBERUM: Yü Group* - Yet more upgrades

Strix (KETL LN) - Full year trading update

Strix have issued a full year trading update indicating profit after tax will be c. £23.0m, in line with updated guidance provided in the 30 November 2022 trading update following completion of the Billi acquisition. Year-end net debt came in at £87.0m, slightly ahead of Zeus forecasts, leaving the company well placed to bring net debt / EBITDA materially below 2.0x during FY23. Profitability being in line provides confidence that the Zeus FY22 revenue forecast of £110.0m will be achieved, imply

Invinity Energy Systems - Reassuring Update And New Sale

We see Invinity’s update as reassuring and the new commercial sale adds to this especially as it is a second sale through an existing partner. Year-end cash of £5.1m and £7.5m of further potential convertible funding aligns with a strong order backlog and pipeline growth to give comfort for FY 23 and beyond in our view.

Q4 & FY22 Trading Update

Capital Limited (LSE: CAPD) this morning provided its Q4 & FY2022 trading update. The Company has continued to perform strongly in 2022 with Q4 revenue 8.2% higher QoQ and 18.9% higher YoY. The full year of revenue has once again exceeded the revised guidance (albeit marginally) and our estimates.

Invinity Energy Systems - Progress In UK Storage Competition

Progress in the UK with the Government’s Long Duration Storage competition moves Invinity to the potentially attractive Phase 2 of the scheme. This could result in a large-scale demonstration project in a market with relatively high renewable penetration and as a result act as an exemplar of what flow batteries can achieve at scale.

Powerhouse Energy - Progress In Poland

Powerhouse is making progress in Poland. This is potentially a major opportunity for Powerhouse, and establishing a project here using its technology could open a potentially strong market in our view.

Cautious optimism for FY23