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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Fonix Mobile Plc | FNX | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| -1.50 | -0.62% | 240.50 | 10:49:27 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 242.00 | 240.50 | 242.00 | 242.00 |
| Industry Sector |
|---|
| MOBILE TELECOMMUNICATIONS |
| Announcement Date | Type | Currency | Dividend Amount | Ex Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| 12/03/2024 | Interim | GBP | 0.026 | 21/03/2024 | 22/03/2024 | 02/04/2024 |
| 21/09/2023 | Final | GBP | 0.0489 | 16/11/2023 | 17/11/2023 | 30/11/2023 |
| 13/03/2023 | Interim | GBP | 0.0236 | 23/03/2023 | 24/03/2023 | 31/03/2023 |
| 22/09/2022 | Final | GBP | 0.045 | 24/11/2022 | 25/11/2022 | 30/11/2022 |
| 14/03/2022 | Interim | GBP | 0.02 | 24/03/2022 | 25/03/2022 | 31/03/2022 |
| 23/09/2021 | Final | GBP | 0.0353 | 18/11/2021 | 19/11/2021 | 30/11/2021 |
| 22/02/2021 | Interim | GBP | 0.017 | 04/03/2021 | 05/03/2021 | 19/03/2021 |
| Top Posts |
|---|
Posted at 07/6/2024 15:32 by igoe104 Good to see FNX are supporting mobile payments for soccer aid on Sunday.. |
Posted at 17/5/2024 14:13 by rivaldo A very high profile win just announced by FNX:"Once.net partners with Fonix across the UK and Ireland for Eurovision 2024 17/05/2024 Eurovision 2024 again showed that it isn’t just a music competition; it’s a cultural phenomenon that brings together nations, artists and fans from across Europe and beyond. After some fantastic performances, the results were counted and voters from all around the world came together to award the Swiss artist Nemo’s song ‘The Code’, the winning performance. While the acts are the main focus, one aspect often piques curiosity – the intricate voting system, orchestrated by Once.net. Once.net has been the official voting partner of the European Broadcasting Union for the Eurovision Song Contest since 2004. Each year, the company works with multiple telecoms and service providers to collect and count the votes during the live semi-final and grand final shows. This year, Once.net selected Fonix to manage the IVR and SMS voting across two territories – the UK and Ireland. Once.net had the complex task of running Eurovision voting for the whole event. It’s a huge responsibility as the vote combines judges’ votes from 37 countries and a mix of IVR, SMS, and paid online voting from the viewers from anywhere in the world. These scores are then combined to determine the final outcome within 10 minutes of the final performance. Stephen George, Fonix’s Partnerships Director commented, “It’s been fantastic supporting Once.net in both the UK and Ireland at Eurovision this year. They have been fantastic to work with throughout this campaign. A lot of hard work has gone into making sure multiple voting methods worked seamlessly across the territories, and it’s hugely rewarding when the event is such a success.” Thomas Niedermeyer, Managing Director of Once.net, added, “Fonix has been instrumental to the successful voting at Eurovision 2024 in Ireland and the UK. Their smooth integration of SMS and IVR solutions, their dedication and commitment to the event ensured the best possible audience experience, so crucial for the success of the event. Our hardworking team at Once.net makes for a great partnership with Fonix.” |
Posted at 02/5/2024 13:57 by igoe104 New partnership for FNX. Big growth opportunities here.. |
Posted at 02/4/2024 17:36 by dicktrade Has anyone received the FNX dividend in to a HL ISA account yet ??TIA |
Posted at 25/3/2024 09:44 by rivaldo Cavendish's extensive 21 page update note post-results includes some points worth noting:- "Today’s release highlights: that the Board is considering options for the use of surplus cash including special dividends or buybacks; a strong start to H2 24 that is comfortably in line with our upgrades in January; and that management has identified multiple European countries for future expansion, with a new market potentially being announced in 2024" - "A robust investment case – Fonix is focused upon leveraging its highly scalable, cloud-based platform to expand with existing clients and win new clients as mobile payments continue to scale. The structural strength of the platform is demonstrated by no churn from major customers in seven years, and it is diligently expanding its market-leading technology outside of the UK when led by existing clients, including becoming the market leader for interactive services in Ireland less than one year after FY23 launch. The successful execution of the strategy has driven Total Payment Value (TPV) to £268m in FY23 from £125m in FY18, adjusted EBITDA to £11.6m in FY23 from £3.3m in FY18, and underlying EFCF to £9.0m in FY23. We expect that any upside to our conservative forecasts would benefit from strong operational gearing through to EFCF, which would be returned to shareholders through the progressive dividend policy" - "Since IPO in October 2020, Fonix has delivered a perfect record of six consecutive gross profit upgrades and seven consecutive adjusted EBITDA upgrades, as the platform’s momentum continues to build" - "Through H1 24, management has continued to strategically focus on larger opportunities, including significant enterprise deals in the UK and international markets, and driving greater volumes of transactions with existing clients. Combined with the heterogeneity of the customer base, management are less focused on the absolute number of customers using the platform, and will move away from providing granular customer numbers in the disclosure. Instead, the disclosure will continue to confirm the customer base is over a given size, such as today’s release confirming the active customer base is over 120, following 122 active customers at FY23 results" |
Posted at 13/3/2024 18:17 by tole https://masterinvest |
Posted at 12/3/2024 12:37 by rivaldo I'll read the full note tonight, but am pleased that the forecasts once again look conservative.This has been a regular occurrence with FNX, and usually gives rise to intermittent profit upgrades during the year as FNX overdelivers against those prudent forecasts. Also, FNX specifically state today that it "continues to have over 120 active customers", so I assume there's no significant movement since the 122 at the last year end. With 5.7p EPS in H1 the current forecast of 9.7p EPS for this year certainly looks very prudent, even with an H1 weighting of gross margin. |
Posted at 12/3/2024 07:36 by rivaldo Indeed. The H1 results can't be faulted, with EPS up over 16% and the cash pile up 33% to over £11m.And FNX are promising a special dividend or further buybacks with that cash pile. Note that: - December was a record month and H2 has started strongly - 99% recurring income - major new product now released - further international growth being promised - "strong pipeline of commercial opportunities, including significant enterprise deals in the UK and overseas, which provides the Board with confidence in the ongoing success of the business" Love the management here. They underpromise and overdeliver and have barely put a foot wrong. |
Posted at 22/9/2023 10:13 by red ninja "Results for year ending 30 June 2023 (21/09/23)Revenue in the year to 30 June 2023 rose 21% to £64.9m, driven by strong growth in the mobile payments and messaging service lines. Revenues recognised for mobile payments relate to the total commission charged to customers, including the mobile network operator (MNO) share of a transaction, with the MNO commission also recognised within cost of sales. There has been notable growth in international markets, which has seen the launch of new services with Bauer Ireland, RTÉ (Ireland's National Television and Radio Broadcaster) and Wireless Radio Ireland, along with several smaller new clients in the Republic of Ireland. All have been delivered with minimal customisation of the existing cloud platform, which was connected to five new international mobile network operators and transacted with 16% of the adult population in Ireland during the year. The success in Ireland has demonstrated the business's ability to scale internationally, with minimal incremental cost and they have already started to build relationships in other international markets with similar characteristics. The year also brought notable new contracts in the UK to run interactive services for broadcasters ITV and Channel 4. Both accounts represent significant growth opportunities in FY24 and beyond. Total payment volume, representing the cash payments processed by Fonix on behalf of customers, grew 3.5% to £268m, with particularly strong growth in the value of SMS billing transactions, offset by a 30% decline in charity related TPV. Gross profit, which the board considers to be the business' most important financial metric, increased 13.9% to £15.1m . As was the case in the previous financial year, due to the seasonal nature of certain media clients, gross profit in the first half of the year was higher than the second. UK gross profit growth of +2% was impacted by some customers suspending campaigns following the death of HM The Queen in the first half. Profit before tax rose 13% to £10.85m with earnings per share up 10% to 8.8p. The operating cash inflow was stated as £11.8m with the free cash inflow £11m. As well as onboarding and integrating services for several large new customers, the business continued to invest in new product innovations, including developing a new subscription engine for charity clients to be launched this autumn and intelligent dynamic filtering for users of their Campaign Manager product. The in-house development team has also continued to ensure platform resilience, scalability and cyber security remain fundamental to everything they do. Looking ahead, Fonix is in the early stages of broadening the suite of payment options integrated with its Campaign Manager and Checkout products, creating even greater growth opportunities with its key clients and new prospective customers. Underlying cash far better represents the free cash flow available to the business. Underlying cash increased to £9.4m (2022: £7.8m) due to additional retained earnings less £495k cash used in share buy-backs. Statutory cash shown on the balance sheet at the financial year end, which includes cash held on behalf of customers, can vary substantially from period to period and is particularly sensitive to the timing of passthrough outpayments for customer charity campaigns. Actual cash held increased to £20.6m (2022: £17.0m) in the year. The increase beyond the increase in underlying cash is purely timing related and attributable to a mobile network operator settling a trade receivable invoice a few days earlier than the previous year. The final dividend was lifted 8.7% to 4.89 pence with the full year dividend payout £7.24m (FY22: £6.50m). Outlook New client wins from ITV, RTÉ, Channel 4 and Wireless Radio Ireland significantly underpin growth expectations in the year ahead whilst at the same time creating high barriers to entry to prospective competitors. The Group’s serviceable market has expanded significantly in the last 12 months through direct network connectivity in Ireland, and they will continue to consider establishing further direct connectivity in other territories in future years. The first few months of the new financial year have started strongly, with a robust run-rate of consumer activity with key customers. Fonix considers that the market for frictionless mobile payments remains significant and continues to grow year-on-year, despite the expansion in alternative payment options such as Apple Pay and Google Pay. For the majority of Fonix customers, adding carrier billing as a payment option is largely shown to reduce checkout abandonment and increase sales, rather than cannibalising existing transactions with alternative payment methods. Forecasts and valuation The house broker upgraded forecasts following the July 2023 trading update. House broker forecasts for the year ending June 2024 remain for adjusted pre-tax profit of £12.4m (growth 13%) and adjusted earnings per share of 9.5 pence, which assumes growth of 6.7%. The forecast dividend of 7.8p equates to a yield of 4.0% (share price 193p, market cap £193m). For June 2025, profit is forecast to rise 6.4% to £13.2m with earnings per share up 5% to 10 pence and a forecast dividend of 8.5 pence." bit later on " Compelling growth opportunity Unless selling shareholders are well and truly pulling the wool over our eyes, which looks increasingly unlikely following continuing positive momentium since listing in 2020, Fonix continues to look cracking value. The ‘Risks Factors’ section of the admission document doesn’t reveal any less obvious risks to us, but a slowdown in major charity events would have an impact, although charity business only generates fixed service fees as opposed to transaction based revenue. While the rating has risen since we initiated coverage, it's still rare to find a profitable and fast-growing facilitator of mobile payments to be trading at 23x forecast earnings estimates (share price 193p) and also offering a 4% dividend yield. Unlike many other new AIM listings over recent years, Fonix hasn't put a foot wrong since its IPO in the last quarter of 2020 (share price 90 pence), paying out attractive dividends along the way. With the market for charity donations being worth over £10bn annually in the UK alone, carrier mobile payments providing a 'near-free' commission model and with Fonix's exceptional reference clients, there is a big growth opportunity here. " |
Posted at 13/3/2023 15:00 by rivaldo FYI here's today's Finncap investment summary and rationale for their 270p target price:Extracts: "Strong H1 23 with +12% gross profit and +18% DPS growth Fonix has announced strong H1 23 results, with +12% gross profit growth, +12% adjusted EBITDA growth, and underlying net cash of £8.4m due to EFCF of £5.1m. Commercial customers have driven mobile payments and mobile messaging growth of +13% and +18%, and gross profit as a % of TPV has increased to 5.7% from 5.1% in H1 22 due to lower charity volumes. The 3 March ITV announcement makes Fonix the de facto SMS interactive services partner for broadcasters in the UK, and it is focused on becoming the leading payments partner for all broadcasters in Ireland in the next 18 months, following a second tier-1 broadcaster win and Irish mobile network operators experiencing levels of payments growth that have never been seen in the market. Firm control of operating costs has enabled adjusted EBITDA growth of +12%, including investment in further international expansion, upgrading the infrastructure to double the platform’s peak capacity to over 5,000 transactions per second, and scaling the sales team. 83% of adjusted EBITDA has converted to underlying EFCF of £5.1m, which has driven net cash to £8.4m after the final FY22 dividend payment of £4.5m. The board’s confidence has enabled an +18% increase in the interim DPS to 2.36p, and the outlook confirms that trading is comfortably in line with expectations. After we upgraded FY24 gross profit and adjusted EBITDA by +3% on 3 March, we increase FY23 EFCF by +2% due to lower working capital, and conservatively reiterate our remaining forecasts and target price. As Fonix continues to deliver on the investment case, we look forward to further updates on international launches, new contract wins, and FY23 results in September." "Valuation - We value Fonix at 270p based on 3% FY24 EFCF and dividend yield, and it is currently trading on 17x 12-month forward EV/EBITDA with +12% NTM EBITDA growth, 4% EFCF yield, and 3.5% dividend yield. - Fonix’s listed peers are currently trading on 8-19x EV/EBITDA with -2% to over 100% NTM EBITDA growth, and average EFCF yields of 2-4%. We value Fonix at 270p based on 3% FY24 EFCF and dividend yield, and it is currently trading on 17x 12-month forward EV/EBITDA with +12% NTM EBITDA growth, 4% EFCF yield, and 3.5% dividend yield". |
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