Fireangel Safety Technol... Share Discussion Threads

[tiswas] 11/1/2022 11:52

Not large volumes but any activity helps this very illiquid share.

May be all the recent talk about cladding and fire risk? let's see how long it lasts.

[thaiger] 11/1/2022 11:16

Looking like someone knows good news is coming!

[tiswas] 11/1/2022 10:43

It's not dead, it's just resting!

[the big fella] 21/12/2021 10:24

The day/nighters work well though as I am generally watching the final 2 sessions. It has been painful but I have made a shed load so far on the performance or should I say lack of performance of the England batsmen.

[harrogate] 21/12/2021 10:08

I have no hope for the Ashes at all. At least there has been little need to set the alarm for those early starts. Hope BT sport didn't pay much for the rights. Must be about a dozen watching

[the big fella] 21/12/2021 10:05

Bit like the England cricket team..... it is the hope that kills you :)

[harrogate] 21/12/2021 09:49

That is a decent buy for sure. I remain a large holder but we really have to see these guys get through the troubles and get margin where it needs to be and not still a bit cash strapped before the price will move. They have disappointed for a number of years and we have seen massive dilution. Maybe this time ......

[tiswas] 21/12/2021 07:58

As I have said before, JC has an absolute pile of options so I think there is some cause for optimism if he is still buying ever increasing volumes in the open market.

[masurenguy] 21/12/2021 07:05

Conoley shells out circa £42k to increase his stake by 33%.

On 20 December 2021, John Conoley, Executive Chairman of the Company, purchased 300,000 shares at a price of 13.95p. As a result, Mr Conoley and his wife have a total beneficial interest of 1,189,463 shares, representing 0.66% of the Company's issued share capital.

[masurenguy] 20/12/2021 10:13

Cheers Dave - I hope that their optimism is not misplaced going forward !

"We see FireAngel being a good recovery play in FY22F and then a growth stock in future years....We continue to see substantial potential upside in the share price in the medium-term."

[davebowler] 20/12/2021 10:03

Shore Capital-
LBT is expected to be in line with expectations (Shore forecast £3.8m), despite sales being impacted by ongoing supply chain issues, we now expect £42.5m of sales vs £47.6m. With the lower sales there is lower working capital, so we now forecast net debt (excluding leases) at the end 2021 of £3.5m vs £5.0m. We are encouraged by the progression towards a positive adj. EBITDA, we now forecast an adj. LBITDA of £0.3m for FY21F vs an adj. LBITDA of £1.2m in FY20. Similarly, we are encouraged by the increase in gross margins, the outcome for FY21F is expected to be 22-24% (19.8% in FY20) as evidence that the strategy to improve margins is being delivered. Ahead of the year-end trading update expected in late January 2022, we have maintained our forecasts for FY22F and FY23F as we expect to see the price increase strategy bearing fruit combined with an amelioration in the supply chain pressures. In our view, the likelihood of further legislation such as in Scotland and Holland will drive sales in the UK and overseas. We see FireAngel being a good recovery play in FY22F and then a growth stock in future years. HOUSE STOCK FY21F bottom line expected to be in-line, despite supply chain issues impacting sales This resilience reflects managements efforts to mitigate the impact of COVID-19 and global supply chain issues, through careful control of costs and price increases. While there remains a risk to the Company achieving expectations for FY21F, due to COVID-19 related measures in any given country and potential shipping variability, the improving financial results are driven, in part, by FireAngel -. We now forecast a gross margin for FY21F of 22%, the bottom of the guidance range of 22% to 24% (2020: 19.8%), depending on currency movements. Changes to forecasts At this stage, we have only updated our forecasts for FY21F, where we still expect an adj. LBT of £3.8m but on lower sales of £42.5m (vs £47.6m) and net debt (excluding leases) of £3.5m (£5.0m). We now forecast an adj. LBITDA of £0.3m vs an adj.EBITDA of £0.3m. We will review our forecasts for FY22F and FY23F, following the year-end trading update expected next month but note management expects to put through significant price rises in H1 2022. Investment case remains intact We believe that the , despite the COVID-19 restrictions and the ongoing challenges in global supply chains. We are encouraged by the increase in gross margins. As we highlighted in our note, All set to grow again, following the April 2021 fundraising, we believe that the strong demand we had anticipated products in the coming years is coming through. This demand is likely to continue to be driven by legislation and/or regulations such as in Scotland and the Netherlands. We continue to see substantial potential upside in the share price in the medium-term.

[deanowls] 20/12/2021 07:57

Ahhh an ahead statement at last, shame it’s the debt.

[masurenguy] 20/12/2021 07:41

Current trading

The Company announces that it remains on target to meet market expectations for adjusted loss before tax for the year ending 31 December 2021, which represents a significant improvement on 2020. However, it expects Group revenue to be at the lower end of market expectations. Furthermore, the Company's net debt at 31 December 2021 is expected to be ahead of market expectations.

John Conoley, Executive Chairman of FireAngel, commented: "The Board is pleased that despite severe headwinds, the Company is on track to deliver an improved financial performance in 2021 and to have sufficient working capital for its forecasted needs. It is especially satisfying that both gross margin and underlying operating profit are above both 2019 and 2020 comparables. These improvements are being delivered through the determination of our internal teams despite all challenges. It is disappointing that the global supply chain issues have continued during the second half and continue to impact the world economy. However, we have made good progress against our strategic priorities, in particular our gross margin improvement plan. The growing interest and demand we are seeing for our Connected offering further reinforce our confidence in the long-term opportunity for FireAngel. We look forward to providing a further update in late January 2022."

[the big fella] 09/12/2021 14:06

We could but this is FireAngel we are talking about! I think the supply chain issues will run throughout 2022. No point kidding yourselves otherwise. So it can be considered the new normal. It will undoubtedly have affected sales, but I am encouraged by the last announcement that they were in line. If the next update states we are in line I think we have to appreciate that that in itself would be a significant achievement. Let’s not forget the supply chain issues are affecting all their competitors as well so the sales are deferred not lost.
I am hopeful that 2022 will deliver some significant social housing contracts using the wireless connected products. Plus the regulatory tailwind looks like gathering pace again. So lots to play for

[the big fella] 09/12/2021 12:26

It looks like we will have a regulatory boost from late next year. There are c5 million properties in the UK that would be in scope. FireAngel are 1 of the 3 main suppliers in the UK. If they get a conservative 20% of sales that’s an additional 20 mil over a couple of years. It could be a lot more.

[the big fella] 09/12/2021 12:25

I think we may actually get a trading update next week.

[microscope] 07/12/2021 21:54

Hoping, perhaps, in the words of Mr Micawber, 'Something will turn up'!

[the big fella] 07/12/2021 17:24

I asked that question a week or so ago and was told it will be in January.

[tiswas] 07/12/2021 16:52

Any thoughts on a December trading update, we have had one last couple of years?

[masurenguy] 15/11/2021 18:58

Supply chain woes don’t dampen hopes for FireAngel

Downing micro-cap manager Judith Mackenzie continues to back FireAngel Safety Technology Group (FA) despite the smoke alarm and carbon monoxide detector manufacturer struggling with supply chain issues. Mackenzie holds FireAngel in the £40m Downing Micro Cap Strategic fund and said that, despite struggling in recent months, she is still confident in the group’s potential.

‘FireAngel continues to make progress against its strategic priorities with pleasing improvements in gross margins. However, the business is experiencing supply chain constraints which will continue into the second half, albeit, we thought that management’s tone was quietly confident so long as the situation doesn’t deteriorate markedly." She added that the positive view was ‘bolstered’ by management buying shares in September. The shares closed flat on Friday at 15.5p.

[billybunter1970] 30/9/2021 14:47

I wonder what upside Newell Brands could get from rolling out the FA Cloud Technology in the USA market. That would shift a hell of a lot more alarms, compared to the UK/Europe market. Not to mention the reoccurring revenue that number of connected device would bring.

[the big fella] 30/9/2021 10:13

Well if it doesn't work out over the next 12 months I suspect we will see a trade sale.

[tiswas] 30/9/2021 09:08

Very true TBF.

I wonder what they could deliver if they were part of a group with larger internal manufacturing capacity. I don't know, like Newell Brands for example?

[the big fella] 30/9/2021 07:13

Too add what frustrates me even more is without those external factors, which the company has no control over, we would undoubtedly would have seen the word exceed.