Eneraqua Technologies Share Discussion Threads

[asagi] 25/4/2023 11:41

You can buy for less than £2.93

He's not lying. I also bought in the last few days for less than £2.93p through an RSP and a 'bog standard' broker.

Asagi (long ETP)

[igoe104] 24/4/2023 08:58

Just purchased aload been watching for a while. Do like the marketplace they are operating in.

You can buy for less than £2.93.

I've purchased just over 20k worth...

[handykart] 30/3/2023 16:31

Grant Shapps, more money for heat pumps.

[rivaldo] 29/3/2023 15:49

Good to see some very good coverage of ETP by AIM Prospector - well worth reading, and it's free to download!

Although I note that the broker forecasts mentioned are a little understated - Finncap's forecasts are now 25.3p EPS for this year and 28.8p EPS for next year.

The page-long article concludes:



"Given Eneraqua's track record, relevance and opportunity I would expect the shares to trade on a P/E of at least 17. Applying that to the 2024 forecast suggests that the shares may be too cheap by half."

[kalai1] 14/3/2023 13:50

Eneraqua Technologies plc issued a trading update for the year ended 31st January 2023 this morning. The Company has continued to deliver on its growth strategy, with both revenue and profit well ahead of FY22. It expects to report revenues up 54% to approximately £55.0m, gross margin is anticipated to be ahead of expectations and EBITDA within the range of market expectations, currently £11.4m-£12.2m. This performance continues the trajectory of stellar growth at both top and bottom lines. Valuation remains very attractive with forward PE ratio at 12.4x and PS ratio 2.43x both top ranked for the Water Utilities sector. The balance sheet remains solid with net debt at £4.7m reflecting an investment in working capital. Share price lacks momentum and is roughly flat to its listing price in Q4 2021. There is growth, profit, quality and attractive valuation here, momentum is all that is missing for now. BUY...

...from WealthOracle

[74tom] 14/3/2023 11:10

Re. The fall, they’ve missed top line expectations by over 10%, the market is never going to like that…

[se81] 14/3/2023 08:31

Interesting fall (pretty much back at the IPO price?)- I thought the results were pretty good (besides some revenue slippage)

Looks like the gross margin improvement seen in FY23 hasn't been factored into FY24 estimates by Singer or Fcap so potential for a beat given the revenue forecast is already covered

[rivaldo] 14/3/2023 07:21

ETP have confirmed that EBITDA will be in line with expectations, giving rise to around 25p EPS as "within the range of market expectations". This despite some delayed work leading to revenues being shifted to the current year, as margins were higher than expected.

Most importantly, 99% of this year's revenue forecast is alreday covered from order books! No wonder they state they're "confident in the Group's outlook for the year ahead".

With consensus of 28.2p EPS for this year ETP remain good value on a P/E of only 12.4.

[rivaldo] 06/3/2023 11:51

ETP are featured in this interview with "1st class fund manager Oliver Brown of RC Brown" - "pretty cheap" and "not put a foot wrong". Watch from 20 mins in:

[rivaldo] 02/3/2023 10:18

Great PR for ETP via their partnership with Southern Water:



Extract:

"Hampshire primary school saves thousands on water bill thanks to water saving trick
28/02/2023 16:28:36"

"Working with Southern Water and its water retailer, Business Stream, the school welcomed specialists from water and energy saving company, Cenergist, for a water efficiency audit.

This identified that by adapting toilets, taps, sinks and other water-using equipment, using a total of 82 control flow devices to provide a more steady and controlled flow of water, big savings could be made.

A smart meter was then installed to analyse water use, and indicated potential water savings totalling £1,260 per year. Furthermore, after completing the installations, more water was being saved than had been expected.

The school managed to save 1,600 litres of water per day – a total of three million litres of water every year – that’s more water than an Olympic sized swimming pool holds.

This reduces the school’s annual water and wastewater bill by half from £3,834 to £1,825."

[rivaldo] 02/3/2023 08:32

Very nice £33,300 buy at 370p first thing this morning, and more new highs.

[rivaldo] 28/2/2023 09:47

Rising nicely again - looks like new all-time highs now.

The year end trading update was on 2nd March last year, so not long to go.

[rimau1] 27/2/2023 10:09

I think an impending TU will show that 28.8p will be beaten this year. Just gut feel nothing more (sadly!)

[rivaldo] 24/2/2023 08:29

Good to see a little buying this morning having a nice effect on the share price. Hopefully this means the seller has left the building.

With 28.8p EPS forecast for this year, and 85% of forecast revenues already secured as per last October's update, a P/E of only 11.5 is far too cheap imho.

[hew] 21/2/2023 18:47

Delayed thanks, Rivaldo. Now I know. My 16/2 post was made in ignorance of that!

[rivaldo] 20/2/2023 09:33

Cenergist is a wholly owned subsidiary company of Eneraqua PLC. Cenergist was previously the holding company of the Group prior to AIM admission, and Eneraqua PLC was then formed and took over as the ultimate holding company to facilitate the admission to AIM.

[hew] 17/2/2023 14:13

Rivaldo, please will you (or anyone) explain the relationship between ETP and Cenergist? What I see, and don't see, on their websites leaves me confused. Thanks, hopefully!

[hew] 17/2/2023 10:10

Rivaldo, indeed, ETP own the patents!

[rivaldo] 17/2/2023 08:53

Hi hew. I know what you mean, but suspect that's splitting hairs a little! It's possible HGP was acquired specifically by Cenergist Ltd within the ETP group as a whole, rather than by the holding company. Even if not, Cenergist's "our" would probably be a figure of speech for the ETP group which has use of the patented technology. Either way, the central point is that ETP own the patents.

[hew] 16/2/2023 10:35

rivaldo, expect a simple explanation, but re your post above, in ETP's June 2022 Results, I read:

"Completed two strategically important acquisitions; HaGePe International BV (HGP), securing full control of the developers of the HL2024 technology, and Welltherm ............."

So Cenergist's Linked In phrase: "our patented Control Flow containing HL2024 technology products" is somewhat misleading. Seems legalistic terminology to me.

HL2024 was HGP's, but now ETP's. Perhaps Cenerg. does use HL2024 products under licence or whatever to make Control Flow products, but "our patented...." seems to overstep the mark to me.

I make the point as HL2024 is a foundation stone of ETP's business.

[rivaldo] 16/2/2023 07:32

Good news from Cenergist:



"Cenergist 1,051 followers
1mo •

Following a successful pilot, Cenergist, together with Crawley Council, are rolling out the installation of our patented Control Flow containing HL2024 technology products in council homes. The installation of these products aims to help Crawley Borough Council achieve their water neutrality goals. The results of the pilot showed that homes could save on both their water and energy bills with the average saving being £360 per year, with the results analysed by Liverpool University."

[rivaldo] 15/2/2023 08:36

Indeed - per the company's info page she recently had 1,003,122 shares, so she's actually sold only around 88k shares:



Which would explain why Simon Thompson's recent tip didn't gain as much traction as it should have done, although the sale is small beer in the overall scheme of things.

I note she's still a director of Control Flow.

[zho] 15/2/2023 08:05

It looks as if Hayley Peters was a director for three months until November 2021.

In the R&A to end January 2022 she's down as having a shareholding of 1.11 million shares, 3.34%, so it looks as if she's reduced.

[rimau1] 15/2/2023 07:25

Nice chunky director buy, a cool 2.5%, not much liquidity here so i wonder who sold down. Bodes well!

[rivaldo] 09/2/2023 09:14

Good to see the rise continuing today - no reason why we shouldn't see new all-time highs here assuming ETP delivers and with 28.8p EPS forecast for the current year.

Particularly with 84% of this year's revenues already secured.