Share Name Share Symbol Market Type Share ISIN Share Description
Eneraqua Technologies Plc LSE:ETP London Ordinary Share GB00BNYDGM91 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 290.00 123 08:00:00
Bid Price Offer Price High Price Low Price Open Price
280.00 300.00 290.00 290.00 290.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Alternative Energy 36.18 4.07 96
Last Trade Time Trade Type Trade Size Trade Price Currency
11:27:35 O 103 290.00 GBX

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Eneraqua Technologies Daily Update: Eneraqua Technologies Plc is listed in the Alternative Energy sector of the London Stock Exchange with ticker ETP. The last closing price for Eneraqua Technologies was 290p.
Eneraqua Technologies Plc has a 4 week average price of 268p and a 12 week average price of 230p.
The 1 year high share price is 340p while the 1 year low share price is currently 230p.
There are currently 33,222,130 shares in issue and the average daily traded volume is 14,853 shares. The market capitalisation of Eneraqua Technologies Plc is £96,344,177.
rivaldo: Great review on Investor's Champion: Https:// "Eneraqua: excellent results and cracking value? Eneraqua Technologies (AIM:ETP), the provider of specialist energy and water efficiency solutions, which arrived on AIM in November 2021, announced excellent results for the year ended 31 January 2022. You can read our previous coverage of its IPO here. Eneraqua designs and delivers improved energy and water systems which use its Control Flow HL2024 technology to reduce water wastage and improve the performance of heating and hot water systems. Energy was the first market Eneraqua entered, and this is the larger sector, with the focus on clients with end of life gas, oil or electric heating and hot water systems. Under the Cenergist brand the Group provides turnkey retrofit district or communal heating systems based either on high-efficiency gas or ground/air source heat pump solutions that support Net Zero and decarbonisation goals. Water is also a growing service offering, focused on water efficiency upgrades for utilities and commercial clients including hotels and care homes. It has also expanded into agritech systems. Turnover in the year to 31 January 2022 rose 148% to £36.2m while EBITDA increased by 319% per cent to £5.55m. Statutory profit before tax was £4.1m (FY21: £0.8m) after £1m of IPO related costs. Management considers that the potential of its technology globally is huge and the initial success in India, with a £0.9m contract for The Department of Horticulture for the State Government of Uttarakhand, highlighting this. This contract will see them supply water systems to 340 horticultural farms across the state, helping to reduce carbon emissions and improving water efficiency. This is the first major zero carbon irrigation initiative of its kind in India. Having listed at a share price of 277p the shares have held up better than most, sitting currently just below the IPO price at 271p. The order book of secured and contracted work has increased from £74.4m at the time of the AIM IPO to £91.0m. This together with delivered revenue in the current financial year to date gives 95% cover on forecast revenue of £61.3m, which assumes growth of an impressive 69%. Rising energy costs are prompting greater interest from local councils in the UK to reduce energy costs, concerned about rising fuel poverty in social housing, which is supporting a growing interest in the Group’s solutions. Forecast profits of £10.6m equate to a healthy margin of 17%, while forecast earnings per share of 25.9p means the shares carry a PER of only 10.5x. By that simple measure alone, the shares look cracking value. We also like the capital light structure of the business with forecast pre-tax ROCE a healthy 44%."
tomps2: Eneraqua Technologies (ETP) full year 2022 results presentation - June 2022 Eneraqua Technologies CEO, Mitesh Dhanak and CFO, Iain Richardson present the full year results for the period ended 31 January 2022. Watch the video here: Or listen to the podcast here:
rivaldo: Lots of highlights from the presentation just now: - "we are a cautious company" as regards EPS forecasts. I like this. - further acquisitions are likely and are under discussion - 50% win rate on tenders - discussions are underway with other utility companies re the Control Flow HL2024 as well as Affinity Water - the new MeterSave product will come on stream this H2, with "strong interest" from water utility companies - all the receivables at the year end have been received - ETP are protected against inflation via (1) their sub-contract model and (2) fixed price contracts with suppliers - this H2 will hopefully see contract win RNS's from new customers in Northern Europe - "Agritech product trials planned for H2" in the EU - after the Agritech product win in India, ETP are in conversations with three other Indian stateds. Apparently 70,000 further farms in these states would be suitable! - there's huge revenue visibility for this year, and already 45% coverage for 2024 - ETP typically expect to see 80% forward visibility for the year ahead at the start of that year
rivaldo: Finncap have reiterated their 425p target price. They note that the order book "has increased from £74.4m at the time of the IPO to £91.0m. This together with delivered revenue to date gives 95% cover on forecast revenue for FY23, with strong project flow expected in H2". Interesting comment too about Spain: "Water operation has recently seen three contract wins announced: one in India, which is the group’s first Agritech contract and shows significant promise with trials due later this year in Spain". They conclude: "Valuation. The shares offer defensive characteristics in recent weak equity markets and are modestly down on their IPO price. The current value is very attractive, with forecasts confirmed and a strong order book continuing to underwrite growth. Market dynamics highlight Eneraqua’s sweet spot in energy efficiency and decarbonisation with an increasingly attractive water efficiency proposition. We maintain our 425p price target, with the current share price standing on a FY23 P/E of 10.4x, is attractive and offers strong upside as the group scales up and growth is delivered"
rivaldo: ETP's first post-IPO results to 31st Jan are well ahead of expectations......18.2p adjusted EPS compares very nicely to the 16.8p forecast. And the maiden 1p dividend has been brought forward from next year as trading has been so good. ETP now have a £3.9m and rising cash pile which will contribute towards the organic growth and further acquisitions. But best of all is the outlook, with 25.9p EPS forecast for this year: "The Group is in a strong position with a healthy balance sheet and a strong order book, which together with FY23 revenue year to date, provides 95% cover for the Board's revenue target for our current financial year." So total revenues for the coming year are essentially already covered, with ETP on a current year P/E of just 10.4. The PEG is only 0.19, which is ridiculously good value.
tomps2: Introduction to Eneraqua Technologies (ETP) - May 2022 ETP IPO’d November 2021. They are energy and water efficiency specialists. Through their own IP they support clients replace gas, oil or electric heating systems. They offer a range of communal/district heating solutions utilizing, gas, air-source heat pumps, ground-source heat pumps or hybrid systems. They have achieved a 3 year CAGR of 38% and cash conversion of 80%. Have a very healthy order backlog. Here, Mitesh Dhanak, CEO and Iain Richardson, CFO outline the business, why they have listed and their strategy going forward, followed by investors questions Video: Podcast:
rivaldo: Finncap today reiterate their 425p target and 25.9p EPS forecast for this year to Jan'23: Extracts: "First contract win in Agritech The group has announced its first contract win in the Agritech sector with a contract in India valued at £0.9m, scheduled to start in the current year and complete in 2023. This is a welcome contract win that broadens the group’s revenue base to a new end-user base and a new geography. The contract will enable the efficient management of water usage that will help farmers to conserve water, improve crop yield and prevent soil erosion, and should provide an attractive template for other states in India. No change to forecasts, but today’s announcement is encouraging and further underwrites our forecasts, given they are already significantly supported by the current order book. We also maintain our 425p price target, with the shares trading at very attractive levels." "Valuation. We maintain our existing price target of 425p, which offers significant upside to the current attractive valuation, with the shares trading on a FY23 P/E of 9.8x, following some recent drift in the share price. We welcome today’s news, which should be reflected positively in the share price."
rivaldo: New £0.9m contract win in India - great to see ETP building their overseas business. ETP will "deliver a package of water, energy and soil conservation solutions which integrates the Company's patented technology Control Flow HL2024" to 340 horticultural farms in a single state, "reducing their carbon emissions and improving water efficiency. This is the first major zero carbon irrigation initiative of its kind in India." Imagine the potential for this across India: Https:// Extract: "The programme, which is scheduled to start in 2022 and complete in 2023, will see Eneraqua Technologies' India subsidiary, Cenergist Energy Private Ltd, deliver a package of water, energy and soil conservation solutions which integrates the Company's patented technology Control Flow HL2024. By efficiently managing water usage, this will help farmers to conserve water, improve crop yield and prevent soil erosion. Solar PV is used to power the irrigation systems. The project in Uttarakhand represents an important step towards the decarbonisation of the agriculture sector and provides a template for other states in India and beyond. Eneraqua Technologies is committed to helping its clients meet their decarbonisation and net-zero targets through its patented technologies. As a specialist in this area, the Group can help organisations achieve their climate change goals in a low-cost and sustainable manner. Commenting on the contract win, Eneraqua Technologies CEO, Mitesh Dhanak, said: "We are delighted to be chosen by the State Government of Uttarakhand to support them in delivering this important programme. As well as reducing carbon emissions, this programme will also reduce pressure on water resources and improve the incomes of farmers. This offers an attractive template for other states looking to decarbonise the agricultural sector while meeting the challenges of sustainability."
rivaldo: ETP's water control technology is proprietory and patented, and underpins both the Energy and Water segments. In particular, the Water division is expected to grow rapidly and catch up with the revenues generated from the Energy division. ETP are already working with three UK water companies and 28 local authorities and housing associations. It's widely accepted that once companies achieve success in these areas then it's highly likely they'll continue to win business from other local authorities etc as their solutions become more widely known and accepted. Slater was happy to invest £4.7m in 5% of ETP at the 277p IPO price. The markets have been uncertain ever since the IPO, but I'm happy to back Slater and what I've seen of ETP to date - especially given that they've already confirmed they'll meet forecasts for last year and have started this year trading well.
rivaldo: We now know from the year end trading update that ETP have traded nicely in line with expectations for the year to Jan'22, that they have strong order books and that trading in this current year has "started well". The prelims in June should therefore be a good read. Finncap have a 425p target. ETP's recent trading record is as follows: y/e 31/1/20 : £0.6m PBT y/e 31/1/21 : £0.8m PBT, 3.2p EPS y/e 31/1/22 : £5.6m PBT, 16.8p EPS y/e 31/1/23 : £10.6m PBT, 25.9p EPS (forecast) With both domestic and international growth targeted, ESG is a strong tailwind for ETP for the coming years, be it government and/or privately funded. Any company providing the kind of growth shown above should be on much higher than a current year P/E of just 9.5. Especially with a £3.8m net cash pile forecast to rise to £13.4m by next January. It's worth noting that the CEO owns almost 20% of the shares, with an NED owning another 12.4%. It's also reassuring to see Mark Slater on the share register with a substantial holding (over 5%).
Eneraqua Technologies share price data is direct from the London Stock Exchange
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