Windar Photonics Share Discussion Threads

[lord orphan] 19/6/2023 12:39

WH Ireland research note out today

[lord orphan] 19/6/2023 12:38

Last week's FY results announcement from WPHO highlights a positive outlook for FY23E based on an order book which strengthened significantly during H2-22A, and which has continued its momentum since then, now offering as much as 78% CY revenue cover. The company is a pioneer in the field of wind turbine optimisation and a home of innovative IP. Our visit to its HQ in Taastrup, Copenhagen, highlighted the quality of its LiDAR product, which has been verified by major OEM's and also by Independent Power Providers (IPP's). We view the company as a market leader in a sizeable potential market which includes a significant retrofit opportunity, and we note progress during the second half of '22E highlighted in WPHO's recent results statement. Beyond this, we assess the company's competitive position as being positive – while there are competing LiDAR products, we believe that WPHO is the established market leader on the basis of price, ease of use and compatibility, including its highly distinctive / unique "plug and play" turbine integration functionality. Taking all of this together, we see a positive trajectory for FY23E and initiate with a current fair value assessment of 39p.

[jpuff] 13/6/2023 08:25

Yes agree if all goes to plan. A good time to be accumulating imho

[lord orphan] 13/6/2023 08:06

So, if capacity was fully utilised in H1, that's €8.6m annualised revenue. Capacity is going to at least double and double again, so 4x. They are preparing for potential revenue of €35m in 2024. Assuming a gross margin of 51% and €2.5m operating expenses, that's profit of €15m. The market cap is £16m, so potential for 10x return by end 2024.

[lord orphan] 13/6/2023 07:58

Entering 2023 the Group had a strong order backlog of €4.3 million scheduled for delivery in 2023. In 2023 the Group has received additional orders scheduled for delivery in 2023 and further additional significant orders are currently being negotiated. Based on these developments the Group expects to realise a substantial revenue growth in 2023 compared to 2022. In 2023 the Group expects to see a reduction of the average COGS compared to costs in 2022 supporting an expected modest Gross Margin increase in 2023. Entering 2023, the production capacity of the Group was fully booked by customer orders for deliveries in the first half of 2023. Currently, the Group is focused on increasing capacity by at least 100% to be implemented mid-year 2023 and planning for a further doubling of capacity when entering year 2024.

[volsung] 22/3/2023 09:52

Looks like its on the move again

[pugugly] 07/3/2023 14:58

So why the crash today?

[lord orphan] 07/2/2023 11:41

You could be right. It looks like there's a few buyers today. As far as I know there are still no estimates in the market. The new Nomad should be putting out initiation research at some point.

[volsung] 07/2/2023 09:06

Next leg up?
Maybe touch 40p this time

[volsung] 09/1/2023 08:32

Now best performing share in my SIPP
+25%

[jpuff] 29/12/2022 19:33

Added a few today. Fingers crossed as anything can happen in this dreadful investing environment at the moment

[euclid5] 28/12/2022 11:58

will the market value this co at 15 X Ev/Ebita. that's the Question?

[lord orphan] 19/12/2022 10:12

I think this announcement today confirms what I was saying in post 89.

[lord orphan] 19/12/2022 10:10

Given the strong order intake during the past many months, the Company is entering 2023 with an order backlog matching our manufacturing capacity for the first half of 2023. Given this situation, the focus within the Company is shifting towards activities regarding scaling up of our manufacturing capacity both internally and with suppliers

[lord orphan] 06/12/2022 15:42

That's 2.4x the current share price.

[lord orphan] 06/12/2022 15:40

Let's have a go at estimating what this company might make in 2023 with some heroic assumptions.The order book was €3.8m at end June. Let's assume this is converted in H2. Annualising that gives €7.6m revenue. Then add €1.4m from the new China distribution agreement, so we have revenue of €9m.Let's assume a gross margin of 55% and €2m Opex. That gives Ebitda of €3m.Using a 15x EV/Ebitda multiple, the EV is €45m. Net debt is zero after the capital raise. So the market cap should be £39m at an exchange rate of 1.16. With 68m shares in issue the share price should be 57p.

[adi27] 05/12/2022 10:30

Nice bit of movement

[adi27] 05/12/2022 07:54

And again!!

[adi27] 05/12/2022 07:54

And again!

[lord orphan] 01/12/2022 10:37

Further director share purchases

[mally6] 01/12/2022 07:49

This is looking like it will become a great worldwide company.excellent rns expect much more to come

[lord orphan] 01/12/2022 07:41

New orders in Australia now.

[mally6] 30/11/2022 14:35

These are in high demand can't still buy much investor directors still taking stock