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EAS Energy Assets

725.00
0.00 (0.00%)
18 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Energy Assets LSE:EAS London Ordinary Share GB00B78CNY10 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 725.00 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
  -
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 725.00 GBX

Energy Assets (EAS) Latest News

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Energy Assets (EAS) Discussions and Chat

Energy Assets Forums and Chat

Date Time Title Posts
09/7/201608:35Energy Assets492
18/10/200510:17Easyscreen a little obscure or looking clearer?843
18/1/200510:28.1
10/3/200415:58EasyBroker - new business model1
12/11/200314:02I bought some its easy11

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Energy Assets (EAS) Most Recent Trades

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Energy Assets (EAS) Top Chat Posts

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Posted at 09/7/2016 08:35 by fireman bob
Mixed feelings on this, really liked this company and felt it could have gone on to greater things given the chance but on the other hand chuffed with the offer price, time to start the search for the next one now......
Posted at 25/5/2016 15:00 by gbb483
So, will the offer price be increased or will the offer be withdrawn?

The longer we hear nothing, the more likely it is that the offer will be withdrawn. On the other hand, if you sold in the lead up to the meeting dates of the initial offer, you could well get the chance to buy back at a discount.
Posted at 16/5/2016 06:47 by gbb483
With the vote due on Thursday, today and tomorrow are the last days you can buy on and have voting stock to use. The flip side is that if the vote goes for a buyout, then these 2 days are your last chance to sell for more than the buyout will give you (except you will also have to cover dealing costs). And if the vote goes against a buyout, the share price will probably sink back towards where it was pre-buyout offer, so you can buy back in. I would take this opportunity to off-load.
Posted at 11/5/2016 15:43 by sharw
If 22.6% of shares are voted against and everyone else votes for they will need 90.4% of shares to vote to get it through. Given shares in nominee a/cs that is highly unlikely (in the scheme meeting for the takeover of CWC held on 28/4 just under 70% of the total number of shares were voted). Stand by for some behind the scenes negotiations as anticipated by the share price rise.
Posted at 18/4/2016 11:15 by sharw
The offer has been recommended, not accepted. There are two types of takeover: a bid (where individual shareholders have to accept) and a 'Scheme of Arrangement' which is the case here. That means a vote of shareholders, the result of which is binding on all. It is one of the few instances where tiny shareholders come into their own as one of the votes is per shareholder and not per share.

If you sit on your hands and the vote goes through you will automatically receive the 685p cash per share. Until the scheme goes through you can always sell in the market but you won't get so much - 678p at the moment but the gap will narrow with time. Sometimes the market price goes above the takeover price - if that happens it means that there are rumours of a counter-bid.
Posted at 22/3/2016 16:20 by rivaldo
SMS' divi is de minimis at less than 1%.

SMS have £80m net debt against a £344m m/cap. EAS have £69m net debt against a £137m m/cap, but have a gas meter portfolio with a £93m book value and have 62% recurring revenues (similar to SMS' 64%).

SMS do appear to be winning more recent contracts.

But overall the differences aren't enough to justify such a large discrepancy in valuation.

The run-up into the trading update next month and then into the results should serve to push EAS' share price and make some of that discrepancy disappear.
Posted at 22/3/2016 09:22 by rivaldo
EAS' rival SMS had pretty good results yesterday. But the differential in valuations is stark.

SMS are on a 2016 P/E of 22.3.

EAS are on a 2016/17 P/E of 14.2 based on 33.9p EPS forecasts.

That's 56% upside for EAS just to reach the equivalent valuation for SMS.
Posted at 12/11/2015 09:43 by cisk
Here you go Riv!

BTW if you have chrome, once you've reached your limit switch to incognito mode and then can you continue over the limit ;-)

Energy Assets
507p +42p
Questor says BUY
ENERGY Assets [LON:EAS], which installs smart electricity and gas meters for industry, enjoyed a share price jump of almost 10pc yesterday as first-half results reassured investors.
The company said that the core meter asset management division, which generates around half of group profits and installs meters, had a strong first half when it increased group revenue by 22pc to £20.6m. By the end of September, the number of owned or managed meters rose from 365,000 at the end of March to 404,000.
The market expectation is for full-year pre-tax profits to reach £10.6m, up from £9.3m last year. The company should generate 30p in earnings per share for the 12 months.
Energy Assets buys smart meters, installs them and charges an annual fee for their use. The average meter costs £850, and generates £135 a year in rental fees for the company. The upfront capital cost of the meters is funded by debt that is paid off over an eight-year period, but the meter can last at least 20 years.
The rental fees Energy Assets earns are guaranteed by blue-chip names such as npower, British Gas and Gazprom; the fees also rise with the Retail Prices Index for up to 15 years. The Government requires all industrial customers to have smart meters installed by 2020, and this should support steady growth until then. The company’s Siteworks, which installs the meters, reported that revenue increased by a third during the first six months.
Once the company’s debts are reduced it can start paying dividends. The shares are down about 20pc from record highs of 621p reached in June. That said, Questor likes the growth profile and income potential despite the risks inherent in investing in such a small company at an early stage.

The shares are trading on a PE ratio of 15, but due to the growth in revenue and profits that falls to 13 times next year.
We like the potential for steady cash generation and the shares remain a buy for the long term.
Posted at 10/11/2015 07:12 by rivaldo
Results out, and they look excellent at first glance. 14p EPS in H1 puts EAS well in line with almost 30p EPS expectations this year.

H2 "has started well".

The overall chart uptrend remains upwards, and the recent decline is almost certainly due merely to a bit of profit-taking in a relatively illiquid stock.

Given these high levels of growth and recurring income the share price could easily be back at 600p soon imo.
Posted at 09/6/2015 23:00 by rivaldo
Questor in tomorrow's Telegraph will be saying Buy....



"Questor share tip: Energy Assets still a buy

The smart meter company is building up a strong core of cash generating assets that investors should tap into, says Questor

By John Ficenec, Questor Editor
4:00PM BST 09 Jun 2015

Energy Assets
578p +14.5p
Questor says BUY

SMART gas and electricity meter company ENERGY Assets [LON:EAS], reported rising revenue, profits and cash generation in its annual results yesterday and there is every reason for the success to continue.

Government regulations mean that every gas metering point for industrial and commercial companies has to have a smart meter installed by 2020. The company said yesterday that the core meter asset management division – responsible for 40pc of group revenue – which collects fees for the meters had another strong year.

The group reported it held 365,000 meters at the end of March, up from 327,000 meters at the end of July, and about 163,500 a year earlier.

New contracts were signed during the year in the Data Services division, which analysis energy uses and offers advice to cut bills, and this increased profits by 47pc. The Siteworks part of the business, which provides engineering advice on meter installation, had a very strong year with revenue up 77pc to £12.9m and profits up 41pc.

Full-year pre-tax profits for the group as a whole increased by 55pc, to £9.3m, up from £6m last year. Revenue increased by 50pc during the year, to £36.2m. Market consensus is for pre-tax profits to rise to £10.5m, giving 29p in earnings per share for the year to March 2016.

Energy Assets buys smart meters, installs them and charges an annual fee for their use. The upfront capital cost of the meters is funded by debt that is paid off over an eight-year period, but the meter can last at least 20 years.

The rental fees Energy Assets earns are guaranteed by blue-chip names such as British Gas.

Energy Assets increased cash generated from operations by 34pc during the year to £20m, and reinvested all of this to grow the company. Acquistions in the year increased net debts by £14m, to £65m, and that is against net assets of £36.5m.

The shares are up £1 since we last recommended them (Buy, 475p, April 17) and have almost doubled since we first liked the prospects (Buy, 317p, October 4, 2013) trading on 20 times forecast earnings, falling to 15 times next year we would still hold onto them for further growth. Buy"
Energy Assets share price data is direct from the London Stock Exchange

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