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SCE Surface Transforms Plc

0.00 (0.0%)
22 Sep 2023 - Closed
Delayed by 15 minutes

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Share Name Share Symbol Market Stock Type
Surface Transforms Plc SCE London Ordinary Share
  Price Change Price Change % Share Price Last Trade
0.00 0.0% 30.50 08:00:00
Open Price Low Price High Price Close Price Previous Close
30.50 30.50 30.50 30.50 30.50
more quote information »
Industry Sector

Surface Transforms SCE Dividends History

No dividends issued between 23 Sep 2013 and 23 Sep 2023

Top Dividend Posts

Top Posts
Posted at 11/9/2023 19:49 by supernumerary
clickable link with less gunge:

Seems it's commenced.

So are we now allowed to say Tesla and Lucid?

EDIT: I wonder what sce sells them for...
Posted at 04/9/2023 23:38 by quemaster
Hi Kilgalip, my first purchase was around the 50p mark, the share price quickly plummeted to 10p then drifted to 6p over the next few years so your timing is definitely not the worst in SCE history.
My first purchase was about 20 years ago and there have been many since then above and below today's price, I'm in profit (just) but would of done better putting the money into a interest paying account. You could probably rightly accuse me of being emotionally invested in the company as they are a big proportion of my portfolio but this is why I think the management are great.

The price you paid reflected the progress made with customers and production facility. At the time we had viability of £20m capacity in 2023, OEM8 then massively increased the size of their order for existing model brake upgrade kits to the point where 2023 capacity was full. Just at the time ST started ramping up production the new energy efficient furnaces that they were forced into using due to ESG and gas prices broke down. They were given lead times of 12 months for specialist materials needed to engineer a new solution but managed to sort out the problem in about four months. This was due to the relationship they have with their own staff and OEM8 who sent engineers to help. OEM8 for now are our major customer but OEM10 and OEM5 will soon be joining them.

Before the new production facility opened OEM5 were flying over from Germany to advise ST on the path from R&D to large scale production eventually conducting their own certification of the facility. OEM10 wanted ST to build their second factory near them in the USA. The relationships with the OEMs are not only strong but they also seem to be part of the journey

The management have taken us form an R&D company to one with contracted orders of £290m and prospective orders of £393m, this gives a total of £683m. Divide this by model lifetime of 5 years = £137m PA turnover in about four years time without anymore contract wins.

With all the things that management have had to deal with recently from Covid, furnace issues, supply chains, ESG, energy prices etc I think they have done well to get production back online with a solution that may outlast original specification, capacity expansion on track and not one cancelled contract.
Posted at 31/8/2023 20:12 by swiss paul
Posted at 10/8/2023 08:10 by norbert colon
Hi amt. I'm aware of the sensitivity over disclosure of the OEM names and am merely providing a link to information already in the public domain that any investor in SCE who's inclined to do some rock turning can easily find.
Posted at 19/7/2023 08:51 by rivaldo
Encouraging for SCE to see proposals that cars should be taxed by weight, with tax incentives for smaller electric models.

As we know, SCE's CC brakes are some 70% lighter than iron brakes:

"Tax cars by weight, says think tank

The fashion for bigger, heavier cars is increasing the demand for metals needed in electric vehicle batteries, a green transport group has warned.

Buying smaller cars could cut forecast demand for battery materials such as cobalt, lithium, nickel and manganese by almost a quarter, according to the Transport & Environment think tank. It is calling for the government to impose “a new weight-based tax on the heaviest and largest vehicles” and to introduce tax incentives for smaller electric models.

About 44 per cent of electric vehicles sold last year in Britain were sports utility vehicles. The bigger and heavier the vehicle, the larger the battery that typically it needs to achieve the same driving range. “This trend towards larger, heavier vehicles needs to be halted to lower the embedded emissions of vehicle production and reduce demands on the electricity grid,” Transport & Environment said.

Posted at 26/6/2023 09:44 by graham1ty
Aston Martin, Mercedes and Lucid cooperating on luxury EVs can only be good for SCE.

Aston Martin are a long established customer and any expansion of the client base would be great for SCE
Posted at 11/5/2023 11:16 by rivaldo
Just got round to reading the new Hardman research - it's well worth a read. Some points which jumped out for me:

- they say in respect of the production improvements announced on 3rd April that "more than four weeks later, this still holds true", so SCE now have "over two and a half months' stable raised output, confirming the process is now secured"

- SCE has "cut its capital cost per tonne of capacity by 30%" in the last 18 months

- the "combined current and prospective contract pipeline is £683m, well up on the £590m stated in September 2022"

- they model a scenario based on that pipeline, with conservative margins, where SCE achieve £136m sales per annum at 25% pre-tax and 20% post-tax margins, equating to £27m PAT, or 10.5p EPS
Posted at 12/4/2023 11:03 by bones
This is about execution of a steep growth strategy.

Looking forward.......

ONCE the technical production problems are solved;
ONCE the production assembly line is throwing off product;
ONCE the main customers (currently two US EV cos?) are expressing satisfaction;
ONCE those same companies are trumpeting that they have the best in class CC brakes;

.....then I can envision a scenario akin to the batsman in the nets (SCE) being faced with multiple bowlers throwing down bouncers all at once. SCE may be deluged with orders from across the EV producers globally as they seek to demonstrate that they too have the best brake disks available.

Questions are, can SCE execute throughout and will Brembo match the technology in time?

Potentially, also, will SCE be taken out by private equity (once they have solid traction)? Probably yes, IMO.
Posted at 31/3/2023 14:22 by guitarsolo
For what it is worth, I'm still accumulating. Yes, the recent share price performance is terrible and there could be news coming of production problems (and confirmation we have a leaky ship). However, I see the production problems as a potential strength!
(i) SCE has put its ramp-up into high gear, it is understandable if there are a few issues.
(ii) SCE has stated that it's problem is a lack of capacity to absorb the production setbacks. This ties in with what we know about capacity and orders.
(iii) These are new furnaces making CCBs that are unique to SCE. They're not following a previously engineered manual.
(iv) The same brilliant minds that designed SCE's CCBs (best in the world) are working on the production issues.
(v) If the product is hard to produce that is a good thing! It reduces the chance of Brembo or another entrant competing so easily.

With all that in mind, I remind myself that:
(i) SCE has the market-leading product.
(ii) It has a small but growing share of a duopolistic market.
(iii) It is winning new contracts and taking contracts away from Brembo.
(iv) The market is getting bigger all the time as CCBs become more common on non-supercars.
(v) CCBs fulfill environmental goals as well as performance.
(vi) A few mis-steps in the way investors have been handled doesn't diminish the investment case that SCE has £300m in contracts, another £190m of pipeline possibilities, and growing capacity.
(vii) If you were willing to invest in SCE's clever engineers to design and make the CCBs and sell them to very demanding high-performance OEMs, then I would also back them to sort out production issues with new furnaces.

I could be very wrong of course, but I view this as a 10 year investment and am willing to hold through to better times.

Good luck!

Posted at 16/12/2022 07:29 by rivaldo
New research note out from Hardman - don't know if this link will work without you being registered..

They forecast 1.32p EPS in the coming year, rising to 2.72p EPS in 2024 and 5.29p EPS in 2025:


"Major OEM 10 order, OEM 8 delay resolved

The 24 November OEM 10 order raised the order book 50%. Even before this, it had quadrupled in under two years. This latest £100m lifetime (six-year) order with OEM 10 is the second order from this US mega-OEM – a major cornerstone. The order book is now £290m. SCE has visibility of the order inflow. It had stated, in the autumn, that a new order would come before end-2022. A major milestone was achieved this half-year, as SCE registered several profitable months. The production ramp-up is very large, and the exciting growth at OEM 8 hit a pocket of air turbulence, knocking that ramp-up a little, affecting 2022 profits, but not 2023.

► Order book up six-fold in under two years: Three OEMs generate 2023E revenue, five in 2024E. End-sales of these models have waiting lists themselves, which adds visibility too. The models are mid- to upper-mid-market, and SCE now has minimal exposure at the super-car end, which reduces demand-risk."

"Investment case: SCE is rapidly growing its 10% market share in this fast-growth market. OEM 10 and OEM 8 have both placed several orders, and, while true “game changers”, these have simply fitted into the broader SCE place in the market expansion. 2H’22 saw OEM 9 arrive too. SCE delivers on a global OEM
base, margins are robust and production expansion is happening."
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