Fulcrum Utility Services... Share Discussion Threads

[topvest] 02/12/2021 09:47

You are missing the fact that they are unprofitable and cashflow negative. New management and laser focus would change that. The Board are apparently happy with the H1 result. If I was on the Board I would not be happy with the result at all. They should be profitable if properly managed.

[tomtum1] 02/12/2021 09:13

Nothing, Green EV and the country needs charging points.

[jailbird] 02/12/2021 09:01

Over £80m full year expected £30m mkt cap What am I missing here

[boonkoh] 02/12/2021 09:01

It won't because any logical investor will read the latest results and lack of positive outlook, and say the shares have no potential.But whether this is purposely to keep the market price low... Let's see. Harwood have form in being shrewd investors and taking companies private at some shockingly low prices.

[tomtum1] 02/12/2021 08:21

The next few days will be interesting

[thebestinvestor] 02/12/2021 08:18

Not a bad set of results and the recent sale they mentioned returned to profit in 2022

[value viper] 02/12/2021 08:17

Good posts guysWonder whether lack of detail indicates that their days are numbered. Be interesting to see if directors now buy shares ?

[jailbird] 02/12/2021 08:12

I think ppl ade under estimating the potential growth opportunities coming with the carbon neutral targets related to EV charging infrastructure and electricity upgradesResults are fine and so I am surprised why we have fallen so much now . We know a seller has been offloading .Any bid will have to be higher here.Tomtum, agree with you about that too

[tomtum1] 02/12/2021 07:59

Boonkoh : To my memory but I would need to check the crowd that took over AA hadn't 30 percent.I willing to take a small bet on this one . The EV piece is attractive to potential bidders

[topvest] 02/12/2021 07:55

Interim results seem to gloss over the fundamental issue. Gross margin c£6m at 22%. Overheads c£7m. Lots of top line growth, but its not profitable. Somewhere along the way, Fulcrum's field team have become less efficient. Either that or they are under-pricing new work. The CEO talks about overhead savings, but misses the obvious point around gross margin. I do not think he and the CFO are up to the job personally. Fulcrum should be profitable on annualised sales in excess of £50m. There are no excuses. The business has regressed back to its original post-IPO days when it was loss making. They need to make the work more efficient and profitable again. No mention of this at all. It won't take long for Harwood Capital to make changes if this is not addressed. I have no confidence in the current CEO and CFO. What do others think? Great value opportunity, but not until the right team is in charge. I am watching, but these results are not prompting me to re-enter.

[boonkoh] 02/12/2021 07:54

That aim rule only applies if the bidder crosses 30% shareholding.Has Harwood or Bayford bought any shares in the last 12 months?

[cottoner] 02/12/2021 07:54

Not that simply I'm afraid.

An offer must be as high as the price paid to buy shares in the last 12 months by those bidding to buy the company.
.

[tomtum1] 02/12/2021 07:50

Yes I agree I reckon a buy out is coming. But I think AIM rules means we get an offer of the highest price in the last 12 months.Well that's what happened me over in the AA.

[boonkoh] 02/12/2021 07:41

Not surprised today the the results was terse. Just meets regulatory reporting requirements. Most other management in this situation will write paragraphs on the future opportunities and lots of positive stuff. Fluffy PR.But you have to wonder why the board and management here don't. Maybe to keep the share price low, for an ulterior motive.

[tomtum1] 02/12/2021 07:36

Sales up 46 percent ( that's some growth) In my view all these new charge points ...Fulcrum are well positioned. All we need no is some director buys and a large contract and this will fly.

[qs99] 02/12/2021 07:15

Are there significant/growing repeat revenues in this business? Otherwise do you not always run the risk that the large projects go a bit Pete Tong at some point, as so many other large project managers have shown time and time again? Looking for more evidence of repeat / sustainable revenues and margin and can't see it in that RNS as yet?

Any and all views welcome before I work out whether to dip in!

cheers
QS99

[tomtum1] 01/12/2021 20:34

Looks like the debts are been wiped based on the last RNS with the sale of asset .

[value viper] 01/12/2021 20:32

Fulcrum wins highly commended title at Housebuilder Awards 202126 Nov 2021Fulcrum has been recognised for its contribution as a leading provider to the housing sector at the 2021 Housebuilder Awards.The company, which delivers multi-utility energy infrastructure and services to power the UK's net-zero future, including the EV charging network, was presented with a Highly Commended award in the Subcontractor/Service Provider of the Year Category.The awards, which were organised by Housebuilder magazine and the Home Builders Federation, in partnership with the National Housebuilding Council, featured a range of categories covering areas such as regeneration initiatives, customer satisfaction, sustainable housebuilding and housing scheme design.Presented at a prestigious ceremony at the InterContinental London-The O2, hosted by comedian Tom Allen, the awards were attended by more than 500 of the house building industry's leading professionals from across the UK. Terry Dugdale, CEO of Fulcrum, said: "We are exceptionally proud to be recognised at these highly prestigious awards for the role we are playing in the delivery of housing schemes across the UK. Working closely with our house builder customers, we have established a strong reputation for early collaboration, expertise advice and highly efficient operations, to support effective project timelines."This award is also testament to the commitment and dedication of our people, particularly during the pandemic where they went above and beyond to ensure we could maintain our high levels of service to house builders."

[value viper] 01/12/2021 20:14

"Expects to publish interims of the 2nd" from last update

[tomtum1] 01/12/2021 16:35

Is the results definitely tomorrow? Last year they were on the 3rd

[pictureframe] 30/11/2021 13:26

Bounce time

[value viper] 29/11/2021 09:43

Results due Thursday not that there is probably much more than we already know from the recent updates.But it would in theory at least allow for some director buying !?!The CEO hasn't bought any all the way down ...which isn't good.Something needs to give here.

[boonkoh] 27/11/2021 21:05

Okay Harwood and Bayford, we're now ready for your 20p bid to put us out of our misery :)That's right, despite holding off buying all the way down the falling knife, I went in at 14p. So in the same boat now. If only they announced a big electric EV charging deal.... Say with a nationwide petrol station chain. It would multibag as then be valued at the same lofty valuations as Pod Point and soon to be listed Myenergi.

[value viper] 23/11/2021 19:23

It needs putting out of its misery