Kromek Share Discussion Threads

[quepassa] 11/12/2019 08:26

These are in my opinion REALLY POOR H1 FIGURES again.

Yet another LOSS BEFORE TAX OF £1.8million.

1.

They of course try and highlight the increase in revenues by 43% from £3.7m to £5.5m but this seems UNFAIR to me because last year they said there was an EXCEPTIONAL half-year DIP in revenues.("short-term hiatus in manufacturing in the US")

This is in my view DISGRACEFUL corporate behaviour to HIGHLIGHT and MAKE EXCUSES for last year's 2018 H1 revenues as being low due to exceptions and then to use those depressed low figures to TRUMPET and FLATTER an increase in revenues the following year.

So:
Half-year Revenues IN TRUE PERSPECTIVE:

19/20 £5.3m

18/19 £3.7m

17/18 £4.8m


REALISTICALLY they have gone from £4.8m in 2017 to £5.3m in 2019 despite all the expansion, fund raisings and apparent massive increase in orders.

Annualised that is a 5% increase in sales over 2 years and to TRUMPET 43% over one year is disingenuous to say the least (although some may rightfully choose fruitier language to describe that practice).


2.

ADDITIONALLY, WHAT IS GOB-SMACKING IS THAT IN 2017 THEY HAD A H1 LOSS BEFORE TAX OF JUST £1.8M, LAST YEAR LOSS OF £2.1m and Today loss of £2.7m.

THAT IS A DREADFUL H1 TREND OVER THREE YEARS.

LOSSES BEFORE TAX H1:

19/20 £2.7m LOSS

18/19 £2.1m LOSS

17/18 £1.8m LOSS


3.

AND IN H1 2017 THEIR GROSS MARGIN was 63% COMPARED TO TODAY'S 58%.

So, Gross Margin


19/20 58%

18/19 67%

17/18 63%





As always lots of rosy words about orders, contracts, outlook BUT THE FIGURES TELL A DIFFERENT STORY TO THE GLIB WORDS AND CHEAP MOOD MUSIC.



ALL IMO. DYOR.

QP

[edmonda] 11/12/2019 08:19

Looks solid interims and the Board 'expects to deliver significant revenue growth and EBITDA profit for full year in line with market expectations'

H1 revenues +43%, with gross margin higher at 58% and adj EBITDA loss of £0.6m

New research note from Equity Development with forecasts and fair value unchanged. Access here :

[chimers] 11/12/2019 08:18

Here is a clever little ditty to help you remember...


'Companies that always make increasing losses

Only make money for a few of the bosses.'

[chimers] 11/12/2019 08:14

Funny how the MM's will never let anyone sell on these opening bell sucker punches!!

Lured in a few more mug punters who thought WOW look it's flying........

Errrr...NO ...it's NOT.

Its a game and you are the prey.
NEVER buy on an opening bell spike.

[chimers] 11/12/2019 08:08

Thats the FAKEOUT collapsing now we go DOWN!!

[chimers] 11/12/2019 08:00

This could go sub 10p today imo.

[jdh1602] 11/12/2019 07:58

nobody disturb Chimers, he's on his phone to his broker as we speak getting a Buy price...

[chimers] 11/12/2019 07:47

Oh one final thing...........

I will never for the life of me understand why any company BORROWS and has a CREDIT LINE of £5m when it supposedly has £13m in cash sitting in the bank.

WHY pay a bank interest when you dont have to?

WHY?


31 October 2019 were £13.4m (including £5.0m utilised on the revolving credit facility ("RCF"))

So ACTUAL CASH IS £8.4M ?


SERIOUSLY ?

[chimers] 11/12/2019 07:38

Last year....

"Kromek entered 2019/20 in a stronger position than ever before. The Group is delivering on existing customer product contracts as well as continuing to gain traction in all of its business segments with the award of high-value, multi-year contracts from commercial and large government customers worldwide. This has provided strong visibility over revenues for the next six to 24 months. As a result, the Board is confident of delivering growth for full year 2019/20, in line with market expectations."


THIS YEAR...

"Kromek entered the second half of 2019/20 well-positioned to report its highest ever full year revenues as the Group continues to ramp up delivery of its high value multi-year contracts.
As a result of this, the Group has visibility of 90% of expected revenue for FY 2019/20 based on delivery of the contracts already won and supported by a strong and increasing pipeline. The Board expects to deliver significant revenue growth and EBITDA profit for full year in line with market expectations."

[jdh1602] 11/12/2019 07:37

Time to top up!

[chimers] 11/12/2019 07:24

So KROMEK why did you lose EVEN MORE MONEY on "increased revenues" ?

"Oh well you see we moved manufacturing to a new state of the art premises in the USA"

SO WHY ... Substantial expansion programme implemented at UK headquarters to increase CZT manufacturing capacity and D3S production...???????????????????

"Oh errrr....LOOK LOOK OVER THERE A KITTEN LOOK.........!! LOOK AT THE KITTEN...."

[ayl30] 11/12/2019 07:09

Rns reads well, all on track for growth

[hiraniha] 10/12/2019 22:05

Kromek half year results out tomorrow.Any thoughts anyone?

[saturn16] 06/12/2019 21:02

And anywhere you post chimers

[chimers] 06/12/2019 15:41

You will get used to "let downs" here!!

[ali47fish] 06/12/2019 15:05

thanks everyone for clarifying - what a let down!