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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Fulcrum Utility Services Ld | FCRM | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 0.15 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 0.15 | 0.15 |
| Industry Sector |
|---|
| GAS WATER & UTILITIES |
| Top Posts |
|---|
Posted at 08/8/2024 07:24 by neilyb675 Fulcrum Utility Services Limited “Fulcrum”The Group is pleased to report growth and a return to profitability as part of its strategic turnaround, which is delivering sustainable, progressive improvements across its operating divisions. Financial highlights Performance was in line with management targets Revenue increased 5.5% to £53.4m (2023: £50.6m) Adjusted EBITDA* of £(0.5)m (2023: £(6.2)m) Operating Profit of £0.5m (2023: Operating Loss of £24.6m) *Adjusted EBITDA is Operating Profit excluding the impact of exceptional items, other net gains, fair value gains on derivatives, depreciation, amortisation and equity-settled share-based payment charges. Operational highlights The Group’s turnaround has been delivered following a comprehensive strategic review of the organisation and its four operating divisions, Dunamis, Maintech Power, Fulcrum (Multi-Utility Operations) and Fulcrum (Asset Ownership): A new Fulcrum Group leadership team has been embedded and senior management teams in each division were strengthened and expanded. The utilisation of shared services were enhanced and intercompany working opportunities across its divisions were improved. The Group now has a sharper focus on its core markets. In the year, the Company also delisted from the Alternative Investment Market (AIM), removing complexity from the business and providing cost savings. Some immediate benefit was evident in the period and additional benefits and savings will be realised in future years. The Group’s turnaround and positive progress continues to be supported by its Major Investors, with the existing Facility Agreement amended and extended in the year. The Group is grateful for this ongoing support whilst it continues on its path of profitable growth. Divisional overview and performance Dunamis reports significant growth as it strengthens position in renewable energy sector The Group’s High Voltage (HV) connections business, Dunamis, is an Independent Connections Provider (ICP), which specialises in the design and build of HV electricity connections and infrastructure. Dunamis delivered exceptional growth in the period with revenue increasing by 67% to £23m (2023: £13.8m). The Company also achieved an Operating Profit of £289k (2023: Operating Loss of £5.3m) as it strengthened its position in thriving markets that include renewable energy, by connecting large-scale solar farms, battery energy storage sites and onshore wind projects. The demand for Dunamis’ expertise is also reflected in the Company’s current pipeline of quoted opportunities, which has grown to over £150m. Growing demand for Maintech Power’s specialist expertise delivers improved profitability Maintech Power is the Group’s HV electrical installation and maintenance business that supports major power infrastructure projects, such as large-scale solar farms, wind farms, battery energy storage sites and private electrical networks across the UK. The business has an extensive client list including EDF Renewables, the NHS, GlaxoSmithKline, and Cambridge University. With a revenue of £7.1m (2023: £7.5m) and an Operating Profit of £245k (2023: Operating Loss of £161k), this positive financial performance has been achieved by both internal improvements and from an increase in demand for its highly specialist expertise in high-growth markets. Positive progress and recurring revenue opportunities for multi-utility operations and asset ownership divisions Fulcrum’s multi-utility operations division delivers multi-utility connections to housing developments and Industrial & Commercial schemes, nationwide. Commercial rigour has been a key focus in multi-utility operations, with enhanced commercial contract management and close cost control, resulting in improved contract margins. In the period it has supported a portfolio of projects across the UK and secured its first significant framework contracts with a Gas Distribution Network. The Group’s Asset Ownership division owns and operates gas and electricity networks that generate healthy and recurring revenues for the group. It consolidated its position in this financial year as it prepares for growth through future ownership opportunities. Outlook The Group is delighted with the positive progress made in the year and these results provide a stronger platform for continued, sustainable growth. The Group offers specialist services with increasing demand in markets mandated for growth, which is accelerating development, performance, and access to future opportunities. The renewable energy industry, in particular, is providing significant opportunities as the UK drives towards net-zero. This, combined with the advent of a new government with an ambitious housebuilding agenda, and the resurrection of onshore wind farm developments, presents significant and exciting opportunities for the Group. The Group is focused on its core strengths in sectors where it is very experienced and has increased the efficiency of its central operations. This has been fundamental to the Group’s success and will be central to the delivery of its five-year strategy of growth and profitability. Commenting on the full year results, Lindsay Austin, Fulcrum CEO, said: The Group’s leadership team is exceptionally proud of the turnaround we’ve achieved, and the contribution made by our excellent people, that has delivered a return to profitability. The strong, collaborative approach we have brought to the Group, with the full support of our highly engaged major shareholders, has ensured the outcomes of the strategic review were successfully implemented and have set us on a path to sustainable, progressive improvements. We have optimised the expertise within the Group, delivered cost improvements and efficiencies through streamlined processes and allowed our divisions the autonomy to pursue and secure new relationships and build on long-term partnerships. The Group is operating in booming, high-growth markets, offering in-demand specialist services, which is accelerating their growth and access to future opportunities. |
Posted at 22/1/2024 00:21 by thiopia Investor queriesIf you're an existing Investor and have a question, please use the details below. 0114 280 4150 investors@fulcrum.co J P Jenkins Ltd The indicative share price and transaction history are available on J P Jenkins’s website at www.jpjenkins.com 020 7469 0937 |
Posted at 22/9/2023 17:26 by neilyb675 Taken a small position here - somewhat out of intrigue, somewhat out of a hunch that this is a win/win from the current entry price.The last results RNS suggests a turnaround is being effected and that this is certainly not a business about to fold. So then I started to peel back a few layers and yes there is a huge ownership by 2 parties ...... Harwood Capital 114,892,352 28.8% Bayford Group 116,212,821 29.1% The fact this isn't a forced delisting, but a choice by the company smacks of asset grab. Not keen on this....but I'm not a forced seller so happy to sit on my 100k shares bought that would have cost £12k (that the directors paid in the January 2022 placing at 12p per share), but only cost me £198 !!! "To facilitate future Shareholder transactions in Ordinary Shares, JP Jenkins has been appointed to provide a Matched Bargain Facility, which is expected to be available from 4 October 2023. Shareholders wishing to trade these securities can do so through their stockbroker. Trades will be conducted at a level that JP Jenkins is able to match a willing seller and a willing buyer. Trades can be conducted, and limits can be accepted, during normal business hours. Shareholders or potential investors can place limits via their existing UK regulated stockbroker." |
Posted at 24/8/2023 14:42 by alibulut What Happens to Shareholders When a Company Goes Private? Shareholders agree to accept the offer to be bought out by investors. They give up ownership in the company in exchange for a premium price for each share that they own. |
Posted at 24/8/2023 14:41 by alibulut f a company delists voluntarily, its share price can increase depending on the reasons for the privatisation. In this case, a trader can open a position to 'buy' (go long) if they think the share price will increase. If the company is forced to delist, it often spells bankruptcy or causes investors to lose confidence. |
Posted at 10/12/2022 14:31 by topvest You can't win them all I suppose when you invest in recovery stocks. No doubt they will get something back. This company seems to have been caught out giving fixed price quotes with 30% upfront and doing the work in 6-12m time...inflation has killed it. I suppose Harwood and the other big investor have been caught out by this. Initially, it looked good given the cash received in advance and large order book. I was fortunate to make a good profit on this a few years back, but unfortunately didn't sell at £1 when I could have done for a 10+ bagger. Was watching to get back in, but thought the risk was too high. |
Posted at 12/9/2022 11:17 by orm5 From the latest investor meet presentation, the company said the next trading update would be October, so not long for the next update |
Posted at 27/8/2022 11:43 by orm5 Investor meet presentation on the 7th September |
Posted at 01/6/2022 11:25 by p1nkfish tv, management changes and acquisition in MAP.Will it work? No idea, but I don't believe the top 2 investors will allow it to fail. |
Posted at 13/5/2022 17:12 by phillyaboots The trimming have also already started with exiting the loss making contracts. Revenue will be lower without them, but should see a margin improvement if they were loss making.It will be interesting to see if there are any new investors at this level or if the existing investors increase. However, looking into this further, any ideas where the cash from the gas assets sales is? Has it all been received and if so how much is left / where has it been used. I guess the question we don't know is what is the net cash position. |
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