Axeon Share Discussion Threads

[mercier et camier] 03/12/2008 08:19

As posted above turning green is part of the package US car manufacturers will have to go through to secure the multi-billion dollar rescue package. AXE has made good progress in the use with its lithium-ion batteries.

[mercier et camier] 03/12/2008 08:16

Ford sets out plans for 'green' vehicles
By Bernard Simon in Toronto and John Reed in London

Published: December 2 2008 15:47 | Last updated: December 2 2008 16:47

Ford Motor laid out plans on Tuesday for a family of hybrid petrol-electric and fully electric vehicles as part of a blueprint to accelerate the restructuring of its loss-making North American car and truck business.

Ford also said in a submission to Congress that it expects to break even or return to profitability, on a pre-tax basis, by 2011. The carmaker earlier this year abandoned its target of returning to profitability by 2009.

In spite of the current slump in sales, Ford said in a statement that it does not expect to run out of cash in 2009, "barring a bankruptcy by one of its domestic competitors or a more severe economic downturn that would further cripple automotive sales and create additional cash challenges".

The comments were part of submissions by Ford and its two Detroit-based rivals – General Motors and Chrysler – to Congress to justify their plea for $25bn in emergency government funding. GM and Chrysler are due to release their plans later on Tuesday.

The three carmakers have suffered massive losses in recent years and are haemorrhaging cash.

Ford's financial position is relatively less precarious than GM and Chrysler, thanks to a $23.5bn loan negotiated two years ago. Its cash reserves stood at $18.9bn on September 30, down $7.7bn from three months earlier.

Alan Mulally, chief executive, expressed the hope that the restructuring plan "helps instill confidence in Ford's commitment to change, including our accountability and shared sacrifice during this difficult economic period."

The company said it was asking for access to up to $9bn of the emergency loans, but that it hoped to complete its restructuring without needing the funds.

Shares in Ford climbed more than 11 per cent to $2.84 in morning trading on Wall Street.

As part of its drive to cut costs, Ford said that it was in discussion with the United Auto Workers union to eliminate the gap in labour costs between itself and foreign-owned plants in North America, which are not unionised.

UAW leaders are due to hold an emergency meeting in Detroit on Wednesday to discuss reopening labour contracts signed with the three carmakers last year.

It also spelt out plans to trim its dealer network and said that it would continue to "aggressively match manufacturing capacity to real demand".

Ford has over the past three years reduced its workforce by 51,000. Over the past five years, it has closed 17 plants in North America, including a third of its assembly plants.

The carmaker said that the accelerated drive to produce more fuel-efficient vehicles would yield a full electric van for commercial fleets in 2010 and a battery-operated sedan in 2011.

The average fuel economy of its car and light-truck fleet would improve by 14 per cent for 2009 models, 26 per cent for 2012 models and 36 per cent for 2015.

It said that it would sell its fleet of five corporate aircraft as part of its cost-cutting plan. Mr Mulally and his counterparts at GM and Chrysler were excoriated by US lawmakers two weeks ago for bringing their begging bowls to Washington in their corporate jets.

In response to criticism of his compensation, totalling close to $50m over the past two years, Mr Mulally has agreed to a nominal salary of $1 if Ford draws on the emergency loans.

Mr Mulally said that "while we clearly still have much more work to do, I am more convinced than ever that we have the right plan that will create a viable Ford going forward and position us for profitable growth".

[bullet8] 02/12/2008 12:18

Would i be right in saying these have a net asset value of 50p a share?

[mercier et camier] 02/12/2008 09:22

The fall is well overdone. Not a single company has remained or will remain untouched by the sharp economic slowdown. But a company that makes lithium batteries for automotive industry is better placed than most to weather the storm.

Click on the link below to see how highly rated this company's products are.

[cowyed] 10/9/2008 13:12

Price now less than 35p and no statement.

Let me go back to my post of 4th July.

I should have realised that the reeason the options were at 5p was that 'someone' knew that the share price was about to tank from its 70p level.

I didn't realise that it was going to halve in 2 months.

Sometimes you invest a bit from the heart and want to support a British company. Nearly always you realise that it was a bad decision.

Shafted again

[5mally] 13/7/2008 12:45

hornet renewable energy fund run by fund manager azemos isin number LI0023080513 holding a chunk of axeon, anyone know of other funds with holdings

[m.t.glass] 10/7/2008 09:25

Axeon powers ahead despite slow sales


Published Date: 10 July 2008
By Hamish Rutherford
City Correspondent
The Scotsman

AXEON, the green battery pack company, charged higher yesterday despite warning that sales for delivery vehicles were slower than expected and that its first-half losses would widen.
The Dundee-based manufacturer derives most of its turnover from batteries for power tools, but its development of lithium battery packs for low-emission urban vehicles are watched most keenly by investors.

Yesterday the company warned that first-half losses in the six months to 30 June were likely to be greater than the £522,000 for the same period last year – owing to an increase in investment and a build up in stock levels, with production in the automotive sector growing more slowly than expected.

But Axeon, headed by chief executive Hamish Grant, said it was making progress in penetrating the automotive market, providing 12 prototypes packs for nine different customers. Recent orders include prototypes for hybrid powered buses in America and heavy delivery vehicles in Europe.

In May, Axeon announced a £17.4 million contract for hybrid powered vehicles with Glasgow-based Allied Vehicles, for which it expects to begin delivery in September. Deliveries to urban delivery vehicle maker Modec continue to be on schedule.

Grant said customers continue to predict double-digit growth in demand for battery products, adding that economic conditions continued to work in favour of its automotive sector.

Grant also maintained that Axeon was on track to meet the market's expectations for the full year.

"The general macroeconomic changes of higher fuel prices and increasing policy action on reducing automotive emissions is accelerating interest in our lithium-ion EV and HEV battery technology," he said.

"The increase in the number of customers prototyping vehicles using our battery technology augurs well for the future."

Total turnover for the year is expected to be around £74m, with around £60m coming from sales of battery packs for power tools – sales it acquired through its purchase of Swiss company Ristma for £7.4m a year ago.

Axeon also announced that in the last month it has received orders of 2m (£1.6m) for its mobility products, for products ranging from coffee trolleys to power assisted bicycles.

Arbuthnot Securities analyst David Cunningham said that the company appeared on track to meet his guidance for a maiden pre-tax profit of £1.2m for the full year.

Shares in Axeon, listed on the Aim, rose 3.5p to 51.5p.

[m.t.glass] 04/7/2008 10:08

coweyed - Tanfield's Smith division buy batteries from several sources (five sources a few months ago, reducing to three) but I don't think Axeon supplied any. However they do supply at least two of Smith's smaller rival EV makers -

[cowyed] 04/7/2008 09:05

Initial review would indicate that this was caught up in the Tanfield 'disaster' but perhaps this is more to do with the greedy management issuing options to themseleves at 5p each.



Surely it's about time that this was stopped. If the current value is (or was at the time of issue 70p) what incentive is there for management to perform and add value olver the next 6 years.

As retail investors we are in for long term share price growth - noone allowed us pre-emption rights to invest at 5p. Surely options should be granted at worst at 90% of current SP, not 7% (but that's one for Alistair Blair at IC)

When this recovers to its previous price, time to sell.

To quote someone far more intelligent than me 'the unacceptable face of capitalism'

Regards

[bammbamm] 02/6/2008 12:34

up 10% today

[puffin tickler] 26/5/2008 16:30

Thanks for that quote.

I had a look at the results over the weekend and came up with my own forecast for 2008. Not as good as I expected given the orders and apparent success of the Ritsma purchase, I only made them just creeping into profit so need a bit more good news on the automotive front to get my juices going.

[dr fillip strange] 26/5/2008 16:15

Taken from weekend FT money section



Battery supplier powers ahead
By David Blackwell

Published: May 24 2008 03:00 | Last updated: May 24 2008 03:00

The £5m purchase last year of Ristma, a Swiss maker of battery packs for powertools, has transformed Axeon Holdings. The Dundee-based supplier of battery systems for electric vehicles has moved from being a low-volume producer with high gross margins, into a high-volume producer with lower margins. That was reflected this week, as revenues soared from £2.6m to £29.3m. This year, that will rise above £80m, and the company will report its first pre-tax profits. There is plenty of growth from the power tool division, but the high-margin business remains the batteries for electric vehicles. And now the company has a deals to supply Modec, the delivery van business, and with Veicoli of Italy and Allied Vehicles of Glasgow. Even so, the shares have fallen well below the peak of 98p late last year. Finncap, which this week initiated research paid for by the company, says the poor rating is at odds with progress and has set a target of 107p.

[m.t.glass] 23/5/2008 06:44

STOCKWATCH Axeon Holdings down on FY results; brokers positive for outlook


LONDON (Thomson Financial) - Shares in Axeon Holdings Plc. fell 5 percent early on, as it fell back off recent gains following full-year numbers, but with brokers positive, noting signs of continued growth to come.
At 9:29 a.m., Axeon Holdings shares were 3-1/2 pence down to 60 pence, while the FTSE Small Cap index dropped 6.0 points to 3,204.1.
Earlier on, the battery systems provider posted a narrowed net loss for the
year ended Dec. 31, as revenue increased more than tenfold.
Its net loss narrowed to 502,000 pounds from 864,000 pounds last year, while profit before interest, tax, depreciation and amortisation was 140,000 pounds, compared with a loss of 947,000 pounds.
The stock has enjoyed a recent sharp rise, up from 54 pence on May 12 to 65
pence on May 15.
Reacting, Brewin Dolphin left a 'buy' on the stock, noting the ten-fold
increase in revenue to 29.3 million pounds, ahead of its estimate of 27.8
million pounds.
Looking ahead, it noted Axeon's plans to deliver between 2030 prototype
packs of its lithium ion batteries and battery packs across 1015 new customers,
which it thinks highlights the huge potential within the emerging electric
vehicle and hybrid electric vehicle market.
Meanwhile, Arbuthnot Securities also left a 'buy' rating on the stock,
saying importantly the numbers confirmed above expectations revenue growth for
power tools and mobile products.
The broker notes that Axeon has been successful in de-risking its short term growth profile with the addition of a large battery pack solution to Allied Vehicles, culminating in a minimum order of 17.3 million pounds over the next five years.
It says the outlook is robust while it thinks the right ingredients are in
place for continued growth in the future.
Finally, FinnCap initiated coverage on the stock with a 107 pence price
target, giving 69 percent upside potential.
The broker favours the group's strong position in the specialist battery
management arena, where Lithium-ion batteries are set to significantly increase
the markets for electric vehicles and cordless power tools.
Although it said the results were marginally lower than expectations, it
thinks the valuation appears compelling at these levels, with strong long term
upside.

[m.t.glass] 23/5/2008 06:41

Axeon full year net loss narrows as sales jump

LONDON (Thomson Financial) - Battery systems provider Axeon Holdings Plc. posted a narrower net loss for the year ended Dec. 31, as revenue increased more than tenfold.

Its net loss narrowed to 502,000 pounds from 864,000 pounds last year, while profit before interest, tax, depreciation and amortisation was 140,000 pounds, compared with a loss of 947,000 pounds. Its revenues rose to 29.31 million pounds from 2.55 million.

Axeon said its current order book in power tools batteries for 2008 stands at about 62.7 million pounds. It said export to the U.S. represented only 3 percent of this segment in 2007.

This reduction has been more than compensated for by increased orders from Europe reflecting continued organic growth of cordless power tools in this market, it added.

Allowing for higher investment for further growth, Axeon said it takes the view that 2008 profit will be towards the bottom end of analyst consensus with higher revenue and gross profit than current analyst consensus.

'The addition of Allied Vehicles as a significant UK customer, the first material agreement with a US customer and the size of 2008 customer demand demonstrates continued progress of the business,' chief executive Hamish Grant said.

[m.t.glass] 23/5/2008 06:41

Axeon full year net loss narrows as sales jump

LONDON (Thomson Financial) - Battery systems provider Axeon Holdings Plc. posted a narrower net loss for the year ended Dec. 31, as revenue increased more than tenfold.

Its net loss narrowed to 502,000 pounds from 864,000 pounds last year, while profit before interest, tax, depreciation and amortisation was 140,000 pounds, compared with a loss of 947,000 pounds. Its revenues rose to 29.31 million pounds from 2.55 million.

Axeon said its current order book in power tools batteries for 2008 stands at about 62.7 million pounds. It said export to the U.S. represented only 3 percent of this segment in 2007.

This reduction has been more than compensated for by increased orders from Europe reflecting continued organic growth of cordless power tools in this market, it added.

Allowing for higher investment for further growth, Axeon said it takes the view that 2008 profit will be towards the bottom end of analyst consensus with higher revenue and gross profit than current analyst consensus.

'The addition of Allied Vehicles as a significant UK customer, the first material agreement with a US customer and the size of 2008 customer demand demonstrates continued progress of the business,' chief executive Hamish Grant said.

[m.t.glass] 13/5/2008 10:19

WJ - not much. I post news about them occasionally on the TAN thread and the wider EV thread. Being unlisted they are under no obligation to reveal anything other than favourable news - and they do certainly put themselves about a bit at shows and award ceremonies. If you set up a google-news-alert you will get some news most weeks (though very often it is repeats).

It is over a year since they first announced their biggest-ever fleet order (the 15 vans for Tesco). Since then they have not announced any other fleet orders - merely ones and twos on trial basis. The impression I get is that they are struggling to achieve sales. They do say that Tesco will be buying more electric vehicles from them, which may be so, but Tesco's own wording suggests they might try other brands too.

[wjccghcc] 13/5/2008 10:04

MT, any word on Modec's progress and reliability?

[m.t.glass] 13/5/2008 09:54

Many thanks ;o)
Was viewing it on a hand-held thingy which took about two dozen scrolls to read it.


There are very VERY few UK-listed plays on the electric vehicles market. AXE, ENV,TAN (the latter only partly EV). The CV-2008 show did indicate that the EV market is a goer. I imagine one or two journalists and analysts might pick out Axeon for a bit of attention.

[short termism] 13/5/2008 09:41

MT Glass - done

[m.t.glass] 13/5/2008 09:31

As mentioned in Post 40 - ZEV do not have a working website yet. Just an under-construction page at from where the company can be emailed and can be asked for a pdf version of the 16 page brochure which they handed out at the show.


PS: s/t - could you edit some of the big white spaces out of your last post so it will fit easier onto smaller screens please?

[short termism] 13/5/2008 08:57

Great News:

RNS Number : 2754U
Axeon Holdings Plc
13 May 2008

13th May 2008

AXEON HOLDINGS PLC

Delivering clean mobile power for electric vehicles, cordless power tools and mobile power applications

MAJOR LONG-TERM SUPPLY AGREEMENT WITH UK CUSTOMER

Axeon Holdings plc ('Axeon'), Europe's largest independent lithium-ion battery system supplier, is pleased to announce a major agreement worth a minimum of £17.3 million from Allied Vehicles Ltd.

Axeon has agreed a contract to supply a minimum of 1000 lithium-ion battery packs to Glasgow based Allied Vehicles Ltd 'Allied', the UK's leading vehicle adaptation specialist, to power a range of zero-emission vehicles for Allied's Zev Ltd 'Zev' subsidiary. Allied are building on their strong relationship with Peugeot to provide a 3.5 tonne rated delivery vehicle based on the Peugeot Boxer, while the Peugeot Expert body shell provides options for a 3 tonne rated delivery vehicle, 8 seat minibus, and a taxi. Allied are also developing an all electric 16 seat low floor city bus.

These vehicles were shown at the recent commercial vehicles show in Birmingham and received a very positive response from potential customers. The first delivery of batteries is scheduled for September 2008, with volume production of batteries starting at that point. Zev are currently forecasting to produce around 200 vehicles a year.

With this agreement, Axeon is now providing battery systems for two of the three leading suppliers of electric vehicles (EVs) in the UK. EVs have the potential to reduce significantly the amount of CO2 produced in the UK, producing zero emissions at the point of use. The 2006 Stern report on the economics of climate change identified transport as one of the leading sources of CO2 emissions. The subsequent King review clearly demonstrated that electric vehicles and plug-in hybrids offer the lowest CO2 emissions per mile in comparison to current vehicles, bio-fuels or fuel cell vehicles, even taking into account the use of fossil fuels for electricity generation.

Axeon brings to the agreement its considerable expertise in battery management, manifested in its proprietary Battery Management System (BMS). This is a highly-sophisticated protection circuit that maintains safe operation, controls the battery and extends its life and durability, all critical for automotive applications. Axeon has expertise in solving automotive problems, as demonstrated by our work with other customers.

Allied has grown quickly over the last few years focusing on the market for converting vehicles to taxis and wheelchair-adapted vehicles. This vehicle conversion expertise means they have an established manufacturing and sales operation in Glasgow coupled with an established dealer/maintenance network across the UK. With this agreement Allied has been able to combine the market-leading drive train and vehicle management systems of the Zev electric vehicles, which will be produced at the company's expanded facilities in Glasgow, with the best available power source on the market today.

Hamish Grant, Chief Executive Officer of Axeon, said:

'We are delighted that Allied/Zev has chosen us as partners. This agreement represents a major step forward, expanding our customer base. It highlights our clear capability in the lithium-ion battery arena and our ability to meet the stringent design and reliability needs of automotive customers.

With the government now providing grants from Cenex (Centre of Excellence for low carbon and fuel cell technologies) which help local authorities make up the difference in capital cost between EVs and diesels the scene is now set for significant growth in the market, in which Axeon will play a major part.'

Gerry Facenna, Chairman of Allied Vehicles/Zev said:

'We are convinced that the time for electric vehicles has arrived and that we have developed the current market leader. This agreement enables us to add the market-leading power source to those vehicles and provide our customers with the best zero-emission vehicles. In doing so we can help to improve the environment for everyone.'


CONTACT

Axeon Holdings plc

Hamish Grant, CEO Tel: [phone]

David Campbell, CFO Tel: [phone]

www.axeon.com


Allied Vehicles Ltd

Paul Nelson Tel: [phone]

Gavin Anderson & Co

Ken Cronin / Robert Speed / Janine Brewis Tel: [phone]

Arbuthnot Securities

Antonio Bossi / John Prior Tel: [phone]

This information is provided by RNS
The company news service from the London Stock Exchange

[m.t.glass] 16/4/2008 22:22

One of the surprises at the Commercial Vehicles Show (CV-2008) this week (15-17) was a range of all-electric vehicles under the new ZEV brand - part of Allied vehicles group.

I asked who supplies their lithium-ion batteries. "Axeon" was the answer.

The vehicles are based on Peugeot vans - the Boxer, the Expert, the Expert Teepee. They also have a 14-16 seater electric bus. But no website yet..

The electric motor is supplied by Ansaldo

[short termism] 28/12/2007 17:23

Tipped again in todays Investors Chronicle