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Share Name Share Symbol Market Type Share ISIN Share Description
Tekmar Group Plc LSE:TGP London Ordinary Share GB00BDFGGK53 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  -1.00 -1.08% 92.00 1,117 15:09:09
Bid Price Offer Price High Price Low Price Open Price
90.00 94.00 93.00 92.00 93.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil Equipment Services & Distribution 28.08 1.99 4.75 19.4 47
Last Trade Time Trade Type Trade Size Trade Price Currency
11:49:20 O 1,117 90.12 GBX

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DateSubject
29/3/2020
09:20
Tekmar Daily Update: Tekmar Group Plc is listed in the Oil Equipment Services & Distribution sector of the London Stock Exchange with ticker TGP. The last closing price for Tekmar was 93p.
Tekmar Group Plc has a 4 week average price of 90p and a 12 week average price of 90p.
The 1 year high share price is 180p while the 1 year low share price is currently 90p.
There are currently 50,687,852 shares in issue and the average daily traded volume is 21,455 shares. The market capitalisation of Tekmar Group Plc is £46,632,823.84.
21/2/2020
12:24
thomshrike: significant shareholder rotation at the bottom + reputable shareholders increasing their stakes + strong share price rebound = looks good to me.
18/2/2020
11:09
thomshrike: My take: Berenberg is using 2.0m for the China impact on FY20 numbers. Assuming that anything related to the China virus is temporary, including that the project pipeline will sooner or later be executed, I would just factor in the temporary margin loss resulting from getting costlier supplies from outside of China. This corresponds to an unknown part of those 2.0m and I would factor in some similar losses in FY21 to be conservative. I was in fact more worried with the cost overrun that they had at Subsea Innovation. Berenberg says that is worth 0.5m. Should be a one-off but is not pretty. Anyway, adding both impacts together, I would estimate an equity value impact of less than 10m, probably more on the range of 6-7m. That would translate into a share price drop of 8-12% at most. As such, the massive share price drop, currently -32% to 106p, results in a market cap reduction of 25m, which to me is very very excessive.
18/2/2020
07:13
jonwig: Trading statement, coronavirus strikes: https://www.investegate.co.uk/tekmar-group-plc--tgp-/rns/trading-statement-and-the-impact-of-corona-virus/202002180700052699D/ So it looks like eps will be 6p rather than the forecast 9.67p, which won't do the share price much good. I'd like to think the shortfall can be made up when conditions normalise, and it's not as though the company has made a mis-step. I'm more likely to add, depending on the reaction.
20/1/2020
11:10
brucey6onus: Finncap Research Note Tekmar supplies and installs subsea protection systems to the global offshore energy market. Their largest end market is in offshore wind, where the company boasts an impressive 74% market share. At a time where decarbonisation is increasingly taking precedence, demand for clean energy, like offshore wind, will continue to grow. We believe that this trend, coupled with Tekmar’s successful diversification strategy, which has seen them broaden both their product offering and geographical reach, should allow them to exceed the 21.5% CAGR revenue growth that they have achieved in the last five years. With its strong competitive position, the group successfully floated in June 2018, where they raised £60m to pay down debt and arm them with the capital for future M&A opportunities. According to the most recent 4C Offshore report (a leading offshore energy market expert), the offshore wind industry is forecast to grow at over 20% CAGR over the next 10 years on the back of global commitments to clean energy. Due to its cost effectiveness, offshore wind is a key clean energy supply form, with a current global total of 25.2 GW. According to the 4C report, the industry is expected to grow by 10x to a cumulative total of 227 GW by 2028. With 16.3 GW of projects currently underway already, a total of 186 GW is expected to enter construction between now and then. This huge uplift in projects should lead to strong demand for Tekmar’s market leading protection systems, as they help keep windfarms on line and producing. Additionally, management have also widened its product offering via selective M&A to allow the group to capture even more customer spend. Ryder Geotechnical, a consulting service acquired in March 2019, brought design and planning expertise. The acquisition of Subsea Innovation added a design, manufacturing and supply capability as well as helping the group to expand and fortify its position in the oil and gas sector by adding to its client base. With £3.3m of net cash on the balance sheet, the company remains on the lookout for appropriate acquisitions – such as supplementary services that allow them to capture yet more customer spend, orbolt on deals that add scale. Tekmar commenced the year with a £7.2m order book (delivery expected in 6 months), £14m of contracts in preferred bidder stage (delivery expected within 12 months) and £195m in the enquiry stage (medium-term delivery). The company sensibly recognise revenue at project completion, but if there is a delay of just a few months, revenue can fall into a subsequent reporting period. Given that one offshore wind project is worth c.£1.6m in revenue to Tekmar, a slip could make a material difference in reported revenues versus forecasted revenues. As such, management have made a logical move into the oil and gas sector to help smooth out revenues. Oil and gas projects are less seasonal as offshore wind projects typically take place in the summer. Offshore oil and gas accounts for 73% of all current offshore capital spend – there are still critical connectors and pipelines to protect here. With oil prices now firmly above $50 a barrel, projects have come back online and tendering activity has returned – so the market is once again looking buoyant. The oil and gas sector represented 20% of group sales at time of IPO and management expect this to rise to 40% by the end of 2020. Tekmar have also started to move into tidal projects too, and we look forward to more positive news on this going forward. Further growth is being propelled via overseas expansion with new contract wins cementing their true expertise in the sector. Recent contract wins include two secured in Taiwan valued at c.£4m and work on the US’s first wind farm, Cape Wind, which will encompass 130 turbines. Tekmar has a leading position in a structurally growing market and this should continue to propel organic growth, as underpinned by recent contract win momentum. The company has also made successful strides to extend its service offering and diversify to new end markets which should both increase and even out revenues going forward. The shares currently trade at 16x March 2020 PE, falling to 13.5x in 2021, with consensus forecasts expecting 109% earnings growth for FY20 and a further 20% in the year to 2021. We also expect that the ambitious management team to continue to make earnings enhancing acquisitions which should continue to act as an additional catalyst to the share price.
06/1/2020
10:14
jonwig: The largest offshore wind farm developer in the world has laid off around 15 people from its business, and is currently weighing further cuts, as the company warns that wind might not be quite as effective as previously thought. Orsted made its UK managing director redundant at the beginning of December, in addition to two other senior executives, including Thyge Boserup, senior vice president of global development. The Telegraph can reveal that Orsted is shifting its focus towards its corporate customers, resulting in the redundancies of around 15 employees in its Danish and German offices, as the wind farm operator mulls further cuts to its UK and Sweden offices. “We are refocusing our business to continue our global expansion and as a result, we have had to make some changes to the management structure of some business units,” the company said. It added that some roles were “no longer consistent with this new focus.” “Unfortunately, the changes mean that we have to say goodbye to some of our skilled employees.” In October, Orsted’s share price fell by more than 7pc when it warned that its wind farms were producing less power than expected. The company blamed this dip in production on the fact that wind turbines block each others wind, thereby decreasing its efficiency. Orsted suggested that phenomenon had been traditionally underestimated across the wind energy industry, which has been under pressure in recent times as bountiful government subsidies are swapped for competitive auction systems. https://www.telegraph.co.uk/business/2020/01/05/wind-farm-giant-orsted-cuts-job-discovering-wind-less-effective/ The phenomenon is called "overbearing". Some science: https://www.nature.com/articles/d41586-018-07528-1
04/12/2019
16:04
saucepan: Very pleasing share price follow-through today. It must be a challenge for institutions to accumulate such an illiquid stock, but I suspect they must be keen to, considering the story unfolding. Thus, I wonder if institutional interest could explain what is behind the rise today and the possible price action over the coming days? A blue sky breakout, which looks impending now, could also attract technical buyers. The prospect of such a breakout certainly was one of the considerations that got me interested here.
03/12/2019
08:32
saucepan: Quite a lot of nuances in the results to unpick - but perhaps the bottom line is steady as she goes, with an optimistic outlook? I must admit I always dislike it when companies omit eps from their "headline" figures at the top of RNS announcements. TGP is guilty of that! Slater PEG of 0.38 suggests value. I think TGP will do well going forward in view of its strong niche in an exciting growing sector. Hopefully the share price will be news driven in the weeks and months ahead as big contracts land and are announced. The chart base looks very constructive. TGP seems very off the private investor radar, so no "sell on news" brigade to suffer today (at least so far!).
08/11/2019
09:03
thomshrike: Once again large volume traded yesterday. Could the uptick in the share price mean that the large selling volume is gone? Positive comments from Boskalis on offshare wind this morning.
06/11/2019
08:40
jonwig: Roughly, this month Miton have sold 0.9m, FIL have sold between 1.5m and 4.1m, BGF have bought 1.3m. Last month BlackRock sold between 2.6m and 5.1m. Despite this, the share price has risen since the start of October!
05/11/2019
16:08
imperial3: Well,the share price remains unaffected so far.
Tekmar share price data is direct from the London Stock Exchange
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