Hardide Share Discussion Threads

[quemaster] 27/12/2024 15:52

From today's RNS……230;…….

“The "Performance Share" Options will only vest based on the achievement of financial performance targets that require stretching EBITDA growth in each of the three financial years ending 30 September 2027, with these targets set ahead of current market expectations.”

These options could work out quite nicely for the directors but I won't be complaining if they do. The perception of Hardide and its share price after three years of profitable growth would be very different to what it is today.

[quemaster] 19/12/2024 12:58

I posted this on another forum in response to a post suggesting Hardide may need to raise funds again and thought it may be of interest here.

I don't think Hardide will need to raise funds they have a much reduced break even figure of £5.1M . Aerospace revenue going from £0.4M in 2023 to £0.5M in H1 so should show in the region of £1M for full year once the results are published in January, add in the new contract we are looking at £1.7M PA going forward without any new orders. Industrial should benefit from the pre coated range launched this year and I can't see them having such a bad year for energy revenue again as it was impacted by destocking following inventory builds post covid in 2022. There were also no sales to power generation turbines in FY 2023/24 which should not be the case in 2025 if what they said in the interim results materialises, this bellow from the interim's RNS in May...............

"There were no sales to the power generation sector either in the period under review or the prior period, whilst the initial set of turbine blades sold in 2022 are field tested. The customer has indicated that we should expect follow on sales towards the end of the current calendar year. We are also exploring opportunities for sales of spares to support the maintenance aftermarket in this sector."

[hatfullofsky] 18/12/2024 17:16

It's trading near to book value too, NTAV £4.3m so any business upside is in for free.

Ticks a lot of my boxes

Patented product, multiple applications
Multiple trials on-going
Directors reasonably paid
Significant capacity to scale
Good Margins
Pricing power
Cash breakeven is now at just over £5.0m
Possible H1-25 Revenue at £3.1m

[quemaster] 18/12/2024 13:33

I was thinking it may be a new OEM since they have previously named the customer in RNS announcements. As you say these aircraft remain in service for many years and they wont change supplier in a safety critical supply chain unless they have to, this should be guaranteed income for the foreseeable future. I see a steady stream of new orders as Hardide replaces previous solutions that have inferior performance or being phased out in the case of hard chrome.

[hatfullofsky] 18/12/2024 12:36

Interesting news from HDD, I looked at these a long time ago and left them alone. However this news is very interesting when you dig into it. They already have supply agreements with Airbus, BAE Systems, Lockheed Martin etc for some significant aircraft Typhoon, F35, these are cutting edge military aircraft, the airbus contract covers A320, A330, A380 and A400, airbus are ramping up A320 production from 50 per month to 75 per month in 2026. The interesting point in this announcement is that it's for a new component, the airbus contract is for a component in the flaps mechanism, whereas the new one is for a cargo door component. I take this to show they are broadening there usage base, these aircraft remain in service for 20-30 years so that's some runway (pun definitely intended). Capex supported by the client. If this is the new working model, could this be a tipping point. Trusted partner, proven product ?

[quemaster] 18/12/2024 11:15

This is great news and further evidence that adoption in the aerospace sector is growing quickly after all the years of hard work to gain approval in a safety critical market.

H1 aerospace revenue was £500K, assuming the results in January show this was replicated in H2 we should be looking at annual revenue of around £1.7M in this sector without any further orders, not bad after total revenue of £385K in 2023.

[rogerramjet] 18/12/2024 07:08

Well done Hardide. Re news 18th Dec 2025.I'm sure you can pick up a few more orders like this.Regards, RRJ.

[cashflo] 15/11/2024 15:22

Yep just poor perfomance

[quemaster] 11/11/2024 07:14

Interesting article in this month's “Aerospace Manufacturing Magazine”. It talks about Hardide’s advantages over hard chrome and thermal spray coating on aircraft applications which it’s increasingly replacing.

[quemaster] 01/11/2024 07:27

I think the reason for the current share price is people are looking at £0.8M less turnover than the previous year, at a glance it seems like Hardide are going backwards.
I put this down to the energy sector, the H1 revenue was £0.8M compaired to £1.9M in H1 2023, there was no sign that it had recovered in H2 from the year end trading update with talk of continued destocking, the oil price in H2 probably didn’t encourage spending.
Aerospace however had £0.5m revenue in H1 almost as much as the past two years combined in six months trading and the pre coated range has had positive language surrounding it since the launch at the end of H2. Turnover recovered to reach cash flow positive in H2, we won't know the breakdown until the results are published but I think industrial and aerospace are advancing as energy stayed in the doldrums.
2023 revenue was derived from energy 63% industrial 30% and aerospace 7%.

[mudbath] 31/10/2024 17:34

I agree with your assessment quemaster, for I saw HDD as an attractive investment even at a time when its share price had fallen to 10p.
Why then is it now languishing at half of that figure?
Without the costs associated with HDD's AIM listing, profitability could be achieved at a much earlier point.
Whilst there is currently no overt talk of a delisting; the possibility does linger.

[quemaster] 28/10/2024 16:48

Could you elaborate Mudbath, I wasn't aware of any possible delisting.

(edit) In hindsight I assume you are talking about a possibility in the future should the company fail financially. I think it was the share price performance at the time of your post that made me think I had missed something.

I believe the future is bright here with new management, B/E reduced to just over £5M, a rapidly growing aerospace sector, and a new addition to industrial revenue with the pre coated range. If the energy sector recovers as predicted in the update Hardide are looking really good for 2025.

[mudbath] 24/10/2024 16:22

HDD would appear to provide a reasonable investment opportunity at this current low level; were it not for the shadow of a possible delisting.

[cashflo] 17/9/2024 09:08

Why dropped? Thought this was on its way. Oh no

[quemaster] 22/8/2024 10:11

Dr Yuri Nikolaevich Zhuk is the co founder and technical director of Hardide, the technology was originally developed in Russia.

[petersinthemarket] 22/8/2024 09:18

Can someone pls explain the ''Russian'' connection in the title?

[cashflo] 24/5/2024 11:35

Thanks Mike i appreciate the info

[pugugly] 22/5/2024 06:56

Cooley - Ex ITM power.

[livewireplus] 22/5/2024 06:50

Interim statement is out. The two months ended 31 March 2024 look promising .....

[cashflo] 17/5/2024 21:08

Who is Dr cooley?

[rogerramjet] 01/5/2024 10:37

Dr Cooley at it again! Raised their stake.

[cashflo] 30/4/2024 19:41

Wehaaay here we go boys!

[cashflo] 23/4/2024 11:12

So super !! up today