Fulcrum Utility Services... Share Discussion Threads

[phillyaboots] 08/9/2022 17:43

Bayford upping their shareholding by 2.4% to 29.1%. Now just higher than Harwood. Wonder if Harwood will now increase their holding ?

[orm5] 27/8/2022 11:43

Investor meet presentation on the 7th September

[orm5] 17/8/2022 22:33

https://www.linkedin.com/feed/update/urn:li:activity:6965637929230548993

[phillyaboots] 17/8/2022 22:17

Where did you see that ?

[orm5] 17/8/2022 21:02

New £4.1m contract wind for a solar and battery farm.Let's hope the contracts keep coming and they are making margin!

[p1nkfish] 11/8/2022 21:26

Well can't ve too long before news of acquisition. They still have the cash sitting on fhe books.

[orm5] 11/8/2022 21:03

Not really many alternatives. Current price is one thing and NetZero is another.For heat in the future you either convert to hydrogen or have electrification of heat. One uses the gas grid, one uses the electricity grid. Ones loss is the others gain and Fulcrum do both.

[p1nkfish] 11/8/2022 15:07

Gas connections still necessary and H2 compliant needed too.

[topvest] 11/8/2022 14:45

I would suspect that with the gas price now x10 what it should be at this time of the year (now 420p/therm), their gas connections order book is not too healthy!
UK gas price up 72% in a month...OMG!

[p1nkfish] 03/8/2022 21:45

Some companies blow trumpets for little.
When no trumpet is blown it's either immaterial material or there's some other reason imho.

[orm5] 03/8/2022 20:33

Perhaps the consider material as more than £5m or have a certain threshold. Either way good to see they are winning work and will hopefully be included in the next update

[p1nkfish] 03/8/2022 15:18

Well if the contract is material it should be worthy of an RNS.

[orm5] 03/8/2022 14:59

At the same link a few weeks back there was also mention of a £2m contract for a leisure resort

[orm5] 03/8/2022 14:58

Hopefully this link works: https://www.linkedin.com/mwlite/company/fulcrumgroup

[ivancampo] 03/8/2022 14:40

Thanks - where are you seeing this?

[orm5] 03/8/2022 13:45

New win - £2m electrical infrastructure for a battery energy storage project

[orm5] 01/8/2022 20:14

I recall one of the smart metering contracts had now been terminated, but agree it's more that they have been provided for.I'm assuming for any new contacts they can pass on inflation and price increases (assuming it's industry wide as still need to be competitive to win jobs)

[topvest] 01/8/2022 18:01

The onerous contracts aren’t terminated, just provided for. C£5m of cash outflows to run them off. Agreed, it’s a good turnaround prospect but suspect given current market conditions regarding inflation, it’s a bit like pushing water uphill! I’m watching for definite signs of a turnaround on the contracting business before taking the plunge. Of course, it’s better to invest at 5p if you are100% confident it’s bottomed, but I’m not. I originally purchased some at about 7 or 8p last time it was in a mess. Did quite well, but should have done better. Held on too long.

[orm5] 01/8/2022 16:30

My feeling is that the new CEO and new management team are now in a good position to turn this around. With onerous contracts terminated, it should be possible to move back to break even and consider new contacts with more diligence. There is circa £18m cash to be received from the asset sale which can either be used to support / grow the business or the return of a dividend in the future

[topvest] 01/8/2022 11:03

Interesting results. Seems to be a bit of kitchen sinking with hefty onerous contract and impairment write-down's, but balance sheet is still fairly robust. The big ? is whether or not the contracting business is anywhere near profitability or cash break-even in this current inflationary market. Finely poised. Outlook statement was not positive short-term. Is it a bargain or value trap? I am inclined to watch the chart at this stage - it's still in stage 4 downtrend, but possibly moving into stage 1. One to buy when we get a move into stage 2 uptrend I feel, but not until the momentum changes as its just too risky. Mills has not been that positive on Fulcrum with his Rockwood vehicle selling at a loss: that is not a particularly positive sign.

[spectoacc] 01/8/2022 10:19

A Mills boon? Maybe, but not holding breath.

[boonkoh] 01/8/2022 10:12

I believe that once there is adequate momentum that the new strategy is working, Mills and Bayford will come with a bid for the whole company. They'll offer a decent enough oremi so most shareholders accept, but not at the full potential value of a recovery.Perhaps we might even see that over the next few days; judging by the trading today, someone is keen to hoover up shares at the current prices.

[orm5] 01/8/2022 10:06

Boystown, I think it all depends on the onerous contracts. If these are now in the current figures and it's made the new management team focus more on margin I'm hoping this is the turning point.For this reason I don't think they will need more cash. Some of the cash current used has been used to fund domestic assets which will later be sold

[boystown] 01/8/2022 09:54

Thanks boonkoh. It's hard to know what to make of them. I own a few shares because, obviously, they're in the right place at what would seem to be the right time - but that's not enough of course.

They're exceedingly cheap on a psr basis and were ebitda positive last year, so would look a silly price if and when sales become profitable. I take great comfort from the fact that Chris Mills is on board with 11% as his investments almost always do well and he's rarely completely passive.

At the same time, they look like they may well have to raise more funds at some stage, which will hold back the share price until it happens.