Eleco Public Share Discussion Threads

[ansc] 12/9/2023 12:13

Company brokers have reiterated their target price of 160p.

[ansc] 12/9/2023 10:28

(missed this bit out from my last post)

"Eleco is fundamentally delivering on its SaaS strategy which will bring further significant operational and financial benefits. We remain focussed on the continued growth of organic recurring revenues, supplemented by further inorganic growth opportunities. We are confident in continued progress and positive momentum for the future, underpinned by our current trading tracking in line with management's expectations for the full year."

[ansc] 12/9/2023 10:20

12 September 2023 - Eleco Plc ("Eleco", the "Group" or the "Company")

Interim Results for the Six Months Ended 30 June 2023:

Eleco plc (AIM: ELCO), the specialist software provider for the built environment, has published its results for the six months ended 30 June 2023, based on unaudited management accounts:

Financial highlights:

-- Annualised Recurring Revenue (ARR)(1) up 18% to GBP19.7m (at 30 June 2022: GBP16.7m); organic ARR growth of 24%

-- Total Recurring Revenue (TRR) up 18% to GBP9.7m (H1 2022: GBP8.2m), representing 72% of total revenue (H1 2022: 61% of total revenue); organic TRR growth of 21%

-- Revenues slightly ahead of expectations at GBP13.5m (GBP13.6m in constant currency terms) (H1 2022: GBP13.4m) despite products' end-of-life, and business disposal. Excluding these, revenues were 5% ahead organically, following the effects of the SaaS transition

-- EBITDA (2) of GBP2.2m (H1 2022: GBP2.8m)
-- Adjusted EBITDA(3) of GBP2.6m (2022: GBP2.9m) as anticipated
-- Profit Before Taxation GBP1.3m (H1 2022: GBP1.7m)
-- Adjusted Profit Before Taxation(4) GBP1.8m (H1 2022: GBP2.0m)
-- Basic EPS of 1.2p per share (H1 2022: 1.6p per share)
-- Adjusted EPS(5) of 1.7p per share (H1 2022:1.9p per share)
-- Cash at 30 June 2023 GBP9.4m (GBP11.3m at 30 June 2022; GBP12.5m at 31 December 2022) after acquisition payment of GBP3.6m

-- Interim dividend up 25% to 0.25p per share (H1 2022: 0.20p per share)

Operational highlights:

-- Execution of M&A strategy:
# Acquisition of profitable SaaS business, BestOutcome - a leading UK provider of simple, scalable Project Portfolio Management (PPM) software , to complement Building Lifecycle products and broaden Eleco's customer base

# Profitable disposal of non-core German architectural CAD business

-- Strategic partnerships announced with:
# C-Tech Club, partnerships with innovative construction technology start-ups

# Nodes & Links, to bring AI into the world of construction planning

-- Return of Asta brand, drawing on our innovation heritage
-- On-going improvements in ESG initiatives such as environmental data gathering and monitoring; enhanced scores with our Great Place to Work(R) certifications, and implemented training and updated group policy framework for all employees

-- Elecosoft UK obtained ISO 27001 certification in continued commitment to customer data security

Jonathan Hunter, Chief Executive Officer of Eleco plc said:

"We are extremely well-positioned within our markets with an established loyal customer base, world-class technology, positive market growth trends and drivers, and a clear customer-focused growth strategy. We are very pleased with our recent acquisition of BestOutcome, which, through its integration into the Eleco family, strengthens the existing Building Life-cycle offering and further builds our SaaS recurring revenue portfolio with a wider, more diverse customer base. We shall continue to identify appropriate acquisitions that will widen our customer base, complement our technological innovation, extend our geographic capabilities, and further enhance our recurring revenues and overall financial performance".

[chrisdgb] 12/9/2023 08:25

Solid results, transition continues…..

[ansc] 07/9/2023 10:19

7th September 2023 - Eleco Plc

Partnership between Elecosoft and Nodes & Links:

Elecosoft and Nodes & Links bring AI into the world of construction planning

The Board of Eleco plc (AIM: ELCO), the specialist software provider for the built environment, is pleased to announce that its trading Building Lifecycle branded business Elecosoft has entered into a partnership with the AI planning co-pilot platform, Nodes & Links, to provide enhanced AI capabilities to the customers of its award-winning Asta Powerproject solution.

The AI capability will provide greater reliability and programme forecasting whilst improved risk management will reduce the time and cost overruns that continue to impact projects, in turn improving productivity.

Over the next three years, as the partnership and technology advances, generative AI will support and enable project delivery teams to focus on high-value activities like strategy development, acceleration analysis, risk reduction and leadership. Construction company BAM Nuttall is the first Elecosoft customer to take advantage of the partnership.

Mark Chapman, Head of Innovation at Elecosoft , said:

" Elecosoft has a long, proven history of listening to client feedback and adapting our services to meet their current and future pain points. This partnership is underpinned by deep industry knowledge and a commitment to our customers, from both sides. The combined power of the Asta Powerproject ecosystem - which helps teams plan reliably - and the insights and time-saving capabilities of Nodes & Links will be a genuine game-changer for project planning. Meanwhile, we are continuing to curate an ecosystem of industry partners and customer focussed emerging technology that is easier for customers to deploy, use and get fast results from."

Greg Lawton, CEO of Nodes & Links , said:

"Our goal is to integrate AI assistants into all parts of the scheduling process, covering planning, updating, analysing and reporting and then planners will be able directly to influence and lead their own teams of AI assistants so that additional expertise can be incorporated in the interpretation of real time information. This is the first step in an exciting partnership that has the potential to re-invent planning and transform the industry."

[chrisdgb] 07/9/2023 08:53

AI..............

[chrisdgb] 30/8/2023 12:48

Hope results will regenerate interest here, very quiet......

[davidosh] 23/8/2023 10:52

Eleco will also feature in the Mello results show on the 27th September along with another six companies

[ansc] 23/8/2023 10:30

Interim results announcement scheduled for 12th September (last year on 13th) with a company shareholder presentation a week later.

[ansc] 16/8/2023 19:12

Just 3,564 shares allegedly bought today and the share price is upped 4p ..... nonsensical.

[ansc] 30/7/2023 10:22

According to my records, Ben Moralee no longer works for the company and Serena Lang bought 77,234 shares on 16th September, 2021 (she also has now left the company).

With little interest shown in this thread, I no longer spend time updating the header.

[virginialouise] 28/7/2023 17:52

Are Serena L and and B moralee shareholders?
I thought that they were.

[ansc] 28/7/2023 10:15

Yes, in view of the ongoing worldwide economic uncertainties, shareholders couldn't have anticipated better than that.

Extract from CEO's statement:

"We are delighted with Eleco's trading performance for the first six months of the financial year and we remain in line with market expectations for the financial year.

"As we emerge from H1 2023, which we previously flagged would be the low point of the temporary financial impact of the SaaS transition, we are reporting revenues above those of H1 2022 and we look forward to an acceleration in total revenue growth for the remainder of the year and beyond.

"We commence the second half of 2023 with the reintroduction of the recognised and respected Asta product brand to reflect our suite of broader project scheduling solutions.

"The recent addition of BestOutcome Ltd to the Eleco family, with its SaaS recurring revenues, strengthens the existing Building Lifecycle portfolio and further builds our offering to a more diverse customer base to solve the challenges of the Built Environment. Integration work is already well underway.

"Eleco continues to deliver on its SaaS strategic journey, focussing on increasing organic recurring revenues, supplemented by inorganic growth opportunities, to the benefit of its customers and shareholders. The Board therefore remains confident in Eleco delivering market expectations for the full year."

[chrisdgb] 27/7/2023 12:23

Nice trading update..........

[ansc] 26/7/2023 14:44

Two 250k trades @ 72p, both supposedly sells, yet the share price didn't flinch?

[ansc] 29/6/2023 19:14

[29 June 2023 Eleco Plc ("Eleco" or the "Company")

Director Dealing

Eleco Plc (AIM: ELCO), the AIM-listed specialist software provider for the built environment , announces that it was notified on 29 June 2023 that on the same day, Neil Pritchard, CFO of the Company, purchased 20,000 ordinary shares of 1 pence each ("Ordinary Shares") in the Company at a price of 78.14p per Ordinary Share.

Following the purchase, Mr Pritchard's beneficial interest in the Company is 20,000 Ordinary Shares, representing 0.02 per cent. of the total issued share capital.]

Reassuring to see the company's CFO having the confidence to buy shares ..... he should know how well the company is trading if anyone does!

[chrisdgb] 27/6/2023 11:05

Good to see.........

[ansc] 27/6/2023 10:31

Eleco PLC Acquisition of BestOutcome

Making good use of their large cash reserves by buying this complementary SaaS business:-

27 June 2023 - Eleco Plc "Group" or the "Company")

Acquisition of BestOutcome

The Board of Eleco Plc (AIM: ELCO), the AIM-listed specialist software provider for the built environment, is pleased to announce that it has acquired 100% of Buckinghamshire-based BestOutcome Limited ("BestOutcome"), a profitable, high quality SaaS business and leading UK provider of simple, scalable Project Portfolio Management (PPM) software, for an initial consideration of GBP4.825m in cash (an adjusted initial value of GBP3.525m on a cash-and-debt-free equivalent) ("the Acquisition"). The Acquisition will be exclusively financed by the Company's internal cash resources.

[melloteam] 17/5/2023 12:56

Just to let shareholders and prospective investors know that Eleco will be exhibiting on the 24th of May next week at Mello2023.

We have created a two day physical investor conference (23rd & 24th May) at the Clayton Hotel and Conference Centre in Chiswick that will include 15 top quality keynote speakers, 12 educational workshops and panel sessions, 50 exhibiting companies plus over 80 company presentations for investors to evaluate and understand their current or future investments. For a £25 bonus add-on price delegates at Mello2023 are also invited to make it a three day visit and join us for the Mello2023 Virtual event the day after, Thursday 25th May.

Tickets are still available and if you would like one at half price then enter the code MMTADVFN50.

[chrisdgb] 12/5/2023 16:04

Still think this will get bought.......

[virginialouise] 11/5/2023 14:39

Sounds a bit vague to me but am I impatient?

[ansc] 11/5/2023 10:08

At the Company's Annual General Meeting ("AGM") being held at 11:00am today, Serena Lang, Non-Executive Chairman of Eleco Plc (AIM: ELCO), the AIM-listed construction software specialist, will make the following statement based on unaudited management accounts for the period ending 31 March, 2023:

"I am pleased with Eleco's trading performance for the first three months of the financial year.

"Eleco continues to deliver on its organic growth strategy with solid progress in its transition to SaaS, a robust balance sheet and increased recurring revenues. Eleco remains well-positioned for the future and the Board is confident that the Group will deliver in line with market expectations for the full year".

[virginialouise] 09/5/2023 12:01

Didn't the outgoing chairman receive some share options or the like when she was in charge. What will happen to this arrangement?