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4/26/2024 10:03:13 AM - Enersense: Full-year guidance unchanged - Nordea - Net sales was 3% above Nordea’s estimate in Q1. The company’s EBITDA was EUR 4.5m compared to our expectation of EUR 3.0m in Q1. Sales gains from completed wind power projects were the main reason for a good performance. The order backlog was EUR 445m which is slightly under our expectation. The order backlog declined by 3% q/q and 15% y/y. Political strikes did not have any meaningful impact for the company’s operations in Q1. The net result was EUR -5.5m in Q1 leading reported equity ratio to be 22.8%. Financiers approved a lower limit for the equity ratio covenant in Q1. Enersense is negotiating with financiers to further specify the covenant level for the full year 2024. Full year guidance was unchanged.
4/26/2024 10:02:46 AM - Enersense International Q1: Problems with covenants and weak underlying EBITDA - SEB - EBITDA was EUR 3m above our estimate but the beat came from onshore development, which we see more as a matter of timing. Underlying EBITDA was some EUR 3m weaker than we expected. Guidance remains unchanged. Enersense is having challenges with equity ratio covenant, which will raise questions if additional (equity) funding is needed. Estimate changes likely to be slightly negative for FY2024.
4/17/2024 5:29:59 AM - Enersense International: Waiting for offshore orders - SEB - Although we expect revenue to continue to grow in Q1 – by 14% y/y – EBITDA is still weighed by the ERP implementation and ramp-up expenses related to the offshore and EV charging businesses. We trim our FY 2024 EBITDA estimate by EUR 0.5m due to slower-than-expected ramp-up in offshore but still see Enersense’s shares trading at a significant discount compared to their fair value. We reiterate our fair value range of EUR 8-10 per share.
4/12/2024 7:10:58 AM - Enersense International: Alpiq acquires 54.9% on P2X Solutions by injecting EUR 47m - SEB - Swiss energy company Alpiq acquires 54.9% of P2X Solutions by injecting EUR 47m funding into the company. Alpiq also has an option to increase its ownership to 100% by the end of 2028, but the conditions of this option are not disclosed. P2X Solutions continues as an independent company. Due to the capital injection, Enersense’s shareholding in P2X Solutions will decrease from 18.5% to 9%. The transaction has no cash flow impact on Enersense, or on P2X's balance sheet value.
4/12/2024 5:18:20 AM - Enersense: Relative profitability should improve in 2024 y/y - Nordea - We expect that cost increases will happen at a slower pace than revenue growth in 2024. The current guidance midpoint indicates 10% y/y revenue growth and an EBITDA margin of 5% in 2024. The orderbook of EUR 457m was 10% y/y higher at the end of December. Guidance does not look overly challenging and we expect Enersense to reaffirm its full-year guidance in its Q1 release. One risk factor relates to muted FID development in the wind power sector, which is why we slightly downgrade our medium-term expectations, leading to a fair value range of EUR 5.8-7.4 (6.4-7.8) per share. Our valuation approach is DCF-based, backed by a peer group comparison. Marketing material commissioned by Enersense.
3/1/2024 6:25:58 AM - Enersense International: Revenue growth will remain strong - Nordea - The guidance midpoint indicates 10% y/y revenue growth (LSEG Data & Analytics consensus is 6%) for 2024. However, the EBITDA margin could fall slightly below consensus (5.6%). Despite a small headwind, offshore operations could reach breakeven this year. The ordinary dividend distribution is zero but the company proposes a EUR 0.10 return of capital to be paid up to two instalments, giving a yield of 2.4%. We slightly upgrade our estimates but reiterate a fair value range for Enersense of EUR 6.4-7.8 per share. Our valuation approach is based on a DCF model, backed by a peer group comparison. Marketing material commissioned by Enersense.
3/1/2024 6:24:09 AM - Enersense International: Path to earnings growth is clear - SEB - Q4 numbers were satisfactory compared to our estimates, and FY 2024 EBITDA guidance was in line with our pre-Q4 estimate. EBITDA will improve in 2024E-26E y/y due to ERP implementation being completed in 2024 and increasing volumes in the offshore and EV charging businesses. We expect wind power income to remain relatively stable in 2024-26. We adjust our fair value range to EUR 8-10 (9-11).
2/29/2024 11:26:45 AM - Enersense: Full-year 2024 EBITDA guidance midpoint is close to consensus (LSEG Data & Analytics) - Nordea - Revenue growth was better that market consensus (LSEG) expected in Q4. However, relative profitability was a bit weaker than market consensus in Q4. But full year 2024 EBITDA guidance midpoint was well in line with market consensus of EUR 21m. Moreover, cash flow from operations turned positive in Q4. The orderbook was EUR 457m at the end of December 2023. Order backlog declined in Q4 q/q but new orders should support order book again in Q1 2024. The company do not propose a dividend payment which was in line with our expectation. The assessment of the options related to own wind power production continues and no information regarding the funding of 600MW of own wind power capacity.
2/29/2024 11:24:34 AM - Enersense Q4: Decent results, decent guidance - SEB - Q4 EBITDA came in slightly behind our estimate. Enersense's renewable project pipeline was at 8,800 MW (H1/23: 8,100 MW). The order backlog increased by 10% y/y, to EUR 457m. Enersense guides for FY/24 sales to be in the range of EUR 365-435m (SEBe: EUR 379m) and EBITDA to be in the range of EUR 15-25m (SEBe: EUR 20.8m). We think the report will trigger only minor estimate changes.
2/21/2024 6:32:12 AM - Enersense: Orderbook is growing - Nordea - The short-term outlook for Enersense looks reasonably good. The orderbook is growing and we estimate adjusted EBITDA of EUR 21m for 2024 (2023E: EUR 17m). EPS is negative for 2022-23E, but we forecast a positive figure for 2024. The long-term growth story is based on investments to power grids and renewable energy. Risks are related to funding of the 600MW renewable energy pipeline. We calculate a fair value range for Enersense of EUR 6.4-7.8 (EUR 7.1-8.6) per share. Our valuation approach is based on a DCF model, backed by a peer group comparison. Marketing material commissioned by Enersense.
2/21/2024 6:31:05 AM - Enersense International: Time to accelerate in 2024 - SEB - FY 2023 adjusted EBITDA guidance has not been amended, so we assume that Enersense managed to book one wind power development project in Q4. We estimate Q4 adj. EBITDA of EUR 8.7m. We expect FY 2024 adj. EBITDA to increase to EUR 21.7m, driven by the positive delta from the offshore business and completion of the ERP project. We set our fair value range at EUR 9-11 (7-12).
2/5/2024 10:07:45 AM - Enersense: The company has won a EUR 20m project to build three grid substations - Nordea - Enersense will build three 110kV power grid substations in Finland. The company has won Fingrid’s public bidding process which will increase group level order book by EUR 20m (3.9%) in Q1 2024. The project is relatively big for Enersense and will continue until the summer of 2027, increasing Power segment’s annual net sales by ~7%. The company is already a leading power line constructor and maintenance operator in Finland. Enersense has been building the Aurora Line (EUR 16m) for Fingrid and this project is expected to be ready in 2024. Enersense has also been accelerating its wind power business. The company's own energy production capacity target by 2027 is 600-700MW, of which 600MW in wind power and 100MW in solar power capacity. However, one risk factor is high interest rates combined with a low power price which could cause the final investment decisions of wind power projects to be postponed in Finland.
1/9/2024 9:41:57 AM - Enersense International: EV charging and offshore main drivers in 2024 - SEB - At SEB’s Nordic Seminar, CEO Jussi Holopainen and CFO Mikko Jaskari repeated the message that we should see many positive factors in 2024. The EV charging business is ramping up and should reach double-digit sales 2024, onshore wind development is on track, and offshore pipeline is active, while current projects progress as expected. Management was confident that the balance sheet is strong enough. We think that our current estimate profile is in-line with the positive message heard in the seminar.
12/11/2023 6:41:42 AM - Enersense International: Green energy services make sense - Nordea - We initiate coverage of Enersense, a company operating within renewable energy, a sector with significant and long-term growth potential. In addition to the construction and maintenance services it currently offers, Enersense has expanded its strategy to encompass own wind power production, EV chargers and offshore wind power foundations. Its core strength is its efficient management and execution of development projects. We also believe that it will be able to restore its EBIT margin close to 3% in 2024 after two tough years.
10/31/2023 6:40:57 AM - Enersense International: Scope for further earnings gains - Evli - Enersense’s revenue continued to grow strong in Q3, however the ERP investment costs limited profitability potential while the segments’ margins are still improving. In our view growth will stabilize while earnings climb more.
10/30/2023 6:02:10 AM - Enersense International: 2024 will be a year of exciting things - SEB - Q3 reported numbers came ahead of our estimates, and FY2023 revenue guidance was upgraded to EUR >330m (previously EUR >300m). EBITDA guidance remained unchanged. The lower end of the guidance range requires at least EUR 4.5m of adj. EBITDA in Q4. The timing risk related to the realisation of wind power development income will continue until close to year-end, we think.
10/27/2023 10:50:35 AM - Enersense International: High growth, margins to improve - Evli - Enersense’s Q3 revenue topped our estimate, while profitability figures came in below our estimates. International Operations and Connectivity achieved margin improvement, while investments burdened Smart Industry and Power profitability.
10/27/2023 9:47:56 AM - Enersense International: Strong growth and profitability above expectations - SEB - Q3 EBITDA amounted to EUR 3.9m, topping our estimate of EUR 2.4m. Revenue increased by 46% y/y, and the company also increased its revenue guidance. Enersense now expects over EUR 330m of revenue (previously over EUR 300m) in 2023. Adj. EBITDA guidance of EUR 12-18m remains unchanged. We think the company is progressing step by step, and up to a 5% positive share reaction on the results would be reasonable, in our view.
10/9/2023 5:36:52 AM - Enersense: A matter of timing - SEB - We believe Q3 was somewhat stable compared to Q2 but y/y growth continued to be strong, at 29%. FY/23 guidance is still most likely to be dependent on the wind power project income (SEBe: EUR 6m), which we think will be realised in Q4. We cut our EV valuation range for Enersense’s wind power pipeline by EUR 11-20m, due to low activity in wind power investment recently. We set our fair value range to EUR 8-13 (9-14).
8/4/2023 6:38:27 AM - Enersense International: More long-term earnings potential - Evli - Enersense’s Q2 results recovered well from the challenging comparison period, and earnings should have further room to grow also next year and beyond.
8/4/2023 5:54:21 AM - Enersense International: Profit growth accelerates - SEB - A solid Q2 report and offshore projects starting in H2 2023 increase our revenue estimates by 5% and EBITDA estimates by 10-13% for 2023-25. FY 2023 adj. EBITDA guidance range of EUR 12-18m remained unchanged, and we expect Enersense to land at EUR 16.6m. We model in earnings growth for 2024, when costs related to the ERP system fade away and the offshore business gets going. We set our fair value range at EUR 9-14 (8-13).
8/3/2023 10:43:46 AM - Enersense International: Results top estimates - Evli - Enersense’s Q2 figures were better than we estimated as Power and Connectivity revenue clearly topped our estimates while profitability improved in all segments.
8/3/2023 9:49:16 AM - Enersense International Q2: Solid report, strong growth in order backlog - SEB - Q2 adjusted EBITDA came in EUR 1.9m ahead of our estimate. Order backlog amounted to EUR 527m, up by 79% y-o-y. Wind power development pipeline is reportedly at 8,100 MW, +100 MW since Q4/22. FY2023 guidance was repeated: adjusted EBITDA is in the range of EUR 12-18m. In our view, estimates should move some single digit percent upwards.
7/25/2023 12:31:49 PM - Enersense International: Strong order intake expected again in Q2 - SEB - We expect announced orders in Q2 of more than EUR 60m, increasing the order backlog to over EUR 550m. We forecast adjusted EBITDA of EUR 1.2m. We expect the guidance of adjusted EBITDA in the range of EUR 12-8m to be repeated, because reaching the guidance is heavily dependent on Q4 onshore development income. We retain our fair value range of EUR 8-13.
6/27/2023 10:24:52 AM - Administers dotterbolag köper Enersense-bolag för cirka 1 miljon euro - Econia, del av finska Administer, köper Enersense Solutions för cirka 1 miljon euro, framgår det av ett pressmeddelande.
6/1/2023 8:08:09 AM - Enersense: Taking the next steps to becoming a clean energy producer - SEB - Enersense announced today (1 June) that the company is exploring options to accelerate pace to become a clean energy producer. According to the company, the options to be considered include creating a new, separate Enersense subsidiary for renewable energy development and production. Enersense’s onshore development pipeline is approximately 8,000 MW, and the company’s energy production target by 2027 is 600-700 MW, of which 600 MW onshore wind and 100 MW solar.
5/9/2023 6:51:42 AM - Enersense International: High growth and improving earnings - Evli - Enersense’s Q1 results showed extended high growth as well as stabilizing bottom line after last year’s challenges. Growth has been set to continue over the course of next year while profitability has only begun to improve.
5/9/2023 6:15:57 AM - Enersense International: Looks good - SEB - An exceptionally strong order book makes us raise our estimates for 2023-25. Profitability is still burdened by ERP system implementation and offshore business in 2023, but we expect margins to improve from 2024 onwards. Offshore and EV charging businesses are the ones to watch later this year, as we hope to hear more about Enersense’s plans regarding scaling-up the businesses. We reiterate our fair value range of EUR 8-13.
5/8/2023 11:06:59 AM - Enersense International: High top line growth - Evli - Enersense’s Q1 revenue grew clearly faster than estimated, at a rate of 39% y/y, which also helped profitability relatively near expectations. Enersense also updated its revenue guidance for the year on the back of strong orders.
5/8/2023 11:04:23 AM - Enersense International: Strong growth continues but with low profitability - SEB - The Q1 report came in slightly ahead of our expectations, as sales growth was 39% y-o-y and the order backlog increased by 83% y-o-y. Sales guidance is upgraded, but EBITDA guidance remains unchanged. Enersense did not disclose its wind power pipeline in terms of MW in Q1, but we assume that the pipeline is still close to 8,000 MW in total. In our view, the shares should have a slightly positive reaction to Q1 report.
4/20/2023 6:05:19 AM - Enersense International: We expect impressive top-line growth - SEB - We expect revenue to increase by 33% y/y in Q1, due to a strong order intake in 2022, but for cost inflation to still burden profit. Our Q1 adj. EBITDA loss estimate is EUR 0.1m. Also, ERP implementation and a ramp up in offshore business increase costs in 2023E-24E. However, we still see significant long-term upside potential as the wind power pipeline starts to generate more significant EBITDA after 2025. We retain our fair value range of EUR 8-13.
3/1/2023 1:36:28 PM - Enersense: Significant project of 50 wind power plants progresses - SEB - Enersense announced today (1 March) that the wind power development project in Yli-Olhava, Ii, Finland, is progressing. The plan has gained legal force after the Supreme Administrative Court rejected the application for appeals concerning the adoption of the local plan. This project will be developed together with Valorem, and the project consists of 50 wind power plants. The investment value of the project is estimated to be in the range of EUR 400-500m.
2/28/2023 8:00:33 AM - Enersense International: Investments to continue - Evli - Enersense’s Q4 figures didn’t contain big news after the guidance revision, but FY ’23 results may remain muted.
2/28/2023 6:22:39 AM - Enersense International: Onshore potential outweighs short-term issues - SEB - 2023 EBITDA guidance mid-point of EUR 15m missed our pre-Q4 estimate by EUR 4.8m. Enersense’s onshore pipeline increased by 5,000 MW q/q to 8,000 MW. We cut our short-term estimates significantly, but an increased long-term potential in wind power development is enough for us to increase our fair value mid-point from EUR 10 to EUR 10.5. We widen our FV range to EUR 8-13 (8-12) due to uncertainty related to the completion of wind projects.
2/27/2023 2:05:00 PM - Enersense International rapporterar lägre justerat ebitda-resultat - (Avser utdelningen)
2/27/2023 12:17:06 PM - Enersense International Q4: Guidance disappoints, onshore pipeline increased significantly - SEB - Q4 adjusted EBITDA missed our estimate by 7%. FY 2023 guidance mid-point is EUR 4.8m, or 24%, below our pre-Q4 estimate. Profitability will be burdened by the implementation of the new ERP system and investments in onshore and offshore projects. Order book is up by 43% y/y, and onshore pipeline increased to 8,000 MW (+5,000 MW q/q). Short-term estimates probably coming down, but long-term potential improving.
2/27/2023 12:03:34 PM - Enersense International: Figures quite close to our estimates - Evli - Enersense’s Q4 figures were overall relatively close to our estimates. Revenue came in higher than we estimated, while adjusted EBITDA was higher and EBIT lower than we estimated. Enersense’s guidance midpoint suggests profitability is likely to increase at least a bit this year, however bottom line will still be weighed down by development projects.
2/27/2023 10:48:23 AM - Enersense International rapporterar lägre justerat ebitda-resultat - Finländska Enersense Internationals redovisar en högre omsättning under fjärde kvartalet men rörelseresultatet minskade i förhållande till samma period året innan. Styrelsen föreslår ingen utdelning.
1/25/2023 8:31:36 AM - Enersense: Hot on all fronts - SEB - After the guidance upgrade, we raise our adjusted EBITDA estimates by 22%, 9% and 11% for 2022-24. Enersense has strong momentum in its core business, and its wind power project portfolio seems to be proceeding faster than anticipated. We see the shares trading at a significant discount to their fair value, which we determine to be EUR 8-12 (7-11) per share. Enersense publishes its Q4 results on 27 February.
1/24/2023 7:54:55 AM - Enersense International: Organic improvement continues - Evli - The upgrade implies Q4 was a lot better than we previously estimated but also suggests further improvement this year after recent challenges caused by high inflation.
1/24/2023 7:29:05 AM - Enersense: Upgrades FY 2022 guidance - SEB - According to the company’s preliminary numbers, Enersense’s FY 2022 adjusted EBITDA will exceed EUR 12m, while the previous guidance expected adj. EBITDA to land between EUR 6-12m. Certain wind power projects have been proceeding faster than anticipated. The company sees its FY 2022 revenue to be at the upper end or above of the guidance range of EUR 245-265m. Enersense reports its Q4 results on 27 February.
1/16/2023 7:19:20 AM - Enersense International: Finnish competition authority extends the processing time of Voimatel acquisition - SEB - The Finnish Competition and Consumer Authority (FCCA) announced on Friday 13 Jan that the processing time for the Enersense acquisition of Voimatel has been extended. This further processing may take up to 69 business days. This news is not a big surprise to us as we flagged the uncertainty in our previous reports. Enersense and Voimatel together would have roughly a 50% market share in the Finnish telecom construction market.
1/10/2023 7:09:13 AM - Enersense: Multiple opportunities - SEB - At SEB’s Nordic Seminar, Enersense’s CEO and CFO went through the company’s long-term strategy and different business areas. In general, the message was confident and we think everything is on track. In our view, the current market cap of EUR 98m and EV of EUR 110m do not reflect the potential of Enersense’s business opportunities, and we believe there is a clear upside potential in share price.
12/23/2022 11:27:32 AM - Enersense: Important steps taken in strategy execution - SEB - Enersense has announced two orders during the past days, which are more significant than just the absolute euros. Yesterday (22 Dec), the company announced its first received order for fast-charging technology, and today (23 Dec) it was announced that Enersense has received its first order for offshore foundation components. We see these as essential for the future, as both businesses are significant parts of Enersense’s core strategy.
10/31/2022 8:28:59 AM - Enersense International: Organic as well as inorganic growth - Evli - Enersense Q3 report didn’t contain major surprises. Profitability is set to improve with growth and inflation compensation, but at least Q4 may see muted bottom line.
10/31/2022 6:49:05 AM - Enersense International: Full steam ahead - SEB - Q3 numbers beat our EBITDA estimates by some margin. Due to a strong Q3, we see the possibility that the company could end up raising its guidance later this year. Enersense is due to start several projects and cooperations during Q4 2022 and in 2023, which should deliver sales growth next year. We increase our fair value range to EUR 7-11 (6-10), and we believe that the market is not giving a proper value to Enersense’s future business prospects.
10/28/2022 10:17:04 AM - Enersense International Q3: Strong results, guidance remains unchanged - SEB - Q3 was stronger than expected, but the guidance remains unchanged. This signals to us that Q4 will not be as strong as Q3. Also, Q3 profitability was supported by a couple of one-time items. Wind power pipeline of 3,000 MW remains unchanged. There is some pressure to lift our FY2022 estimates, but we do not see that much pressure on FY2023-24 estimates. All-in-all, good results and small positive share reaction is justified, in our view.
10/28/2022 9:47:54 AM - Enersense International: Relatively good development - Evli - Enersense’s Q3 profitability topped our estimates as EBITDA development was favorable in all other segments except International Operations, where we believe inflation continues to be more of a problem than in Finland.
10/20/2022 9:40:15 AM - Enersense: Zero-emission transport to have a bigger role in the strategy - SEB - Enersense announced today that it specifies the focus areas of its growth strategy. In the future, zero-emission transport is in equal position with clean energy. The company also announced that it acquires Unified Chargers, a Finnish manufacturer of EV charging stations. The purchase price is EUR 1.2m. Our first take is that this kind of business sits well in Enersense’s portfolio and the company has good capabilities to grow significantly in this area.
9/29/2022 5:25:11 AM - Enersense: Wind of change - SEB - Enersense has transformed from a staffing business to a clean energy forerunner. The company aims to expand its business to green energy development and production; we believe it has all the elements in place to benefit from the most important energy trends. The current service and project business supports the company’s growth ambitions. We initiate coverage of Enersense with a fair value range of EUR 6-10.
8/5/2022 6:27:45 AM - Enersense International: Results are burdened on many fronts - Evli - Enersense’s Q2 was weak, and H2 is set to remain modest. There’s still much uncertainty around the improvement slope, however valuation appears neutral relative to peers.
8/4/2022 10:17:02 AM - Enersense International: Challenges will continue in H2 - Evli - Enersense’s Q2 results were known before the official release as the company disclosed preliminary figures in connection with a negative earnings guidance revision.
5/4/2022 5:47:22 AM - Enersense International: CMD notes - Evli - The CMD added color on Enersense’s plans to expand its print in the renewables value chain. Wind power, on sea as well as land, is the key in multiplying revenue and earnings as the company will both develop and own wind farms.
5/2/2022 7:01:45 AM - Enersense International: Inflation resistance to be tested - Evli - Enersense’s Q1 profitability figures beat our estimates but cost inflation can hurt figures more during the rest of the year. Long-term outlook remains favorable thanks to the green vertically integrated strategy, but we view current valuation overall fair.
4/29/2022 12:14:19 PM - Enersense International: Profit figures topped our estimates - Evli - Enersense’s Q1 profitability figures topped our estimates. The company reiterates its guidance, however Q2 profitability will be relatively weak this year due to project delays caused by the war.
3/1/2022 8:13:49 AM - Enersense International: Favorable tailwinds set to continue - Evli - Enersense’s Q4 figures were a bit higher than we estimated, earnings guidance was softer, but the overall picture hasn’t changed much as renewables remain in high demand.
2/28/2022 10:36:04 AM - Enersense International: Figures mostly in line - Evli - Enersense’s Q4 report was overall relatively close to our expectations. The Q4 figures came in a bit higher than we estimated, while guidance represents a small miss in terms of profitability. The BoD however proposes a dividend of EUR 0.1 per share to be paid, which we did not expect.
1/4/2022 7:55:26 AM - Enersense International: Some more green to come - Evli - Enersense’s Q3 report was soft and left doubts with respect to the FY ’21 guidance. The company has now made upgrades to the guidance, but these seem to have been to a large extent driven by acquisition-related revaluations. Enersense nevertheless continues to progress with long-term strategy and is about to close two investments.
11/3/2021 8:34:03 AM - Enersense International: Earnings multiples are undemanding - Evli - Enersense Q3 figures didn’t meet our estimates, but the company retained its guidance, and we see the Q3 softness was to a large extent attributable to project timing issues.
11/2/2021 11:48:01 AM - Enersense International: Soft Q3 but guidance intact - Evli - Enersense Q3 figures came in soft compared to our estimates, but the company nevertheless retains its FY ’21 guidance, which implies stronger than expected Q4. The Q4 tilt is due to project cycles and the result is a more balanced quarterly performance since Q3 is often the strongest quarter.
8/16/2021 6:39:53 AM - Enersense International: According to plan - Evli - Enersense’s Q2 was much as expected. Margins are already decent, and we see plenty of scope for long-term gains.
8/13/2021 9:35:06 AM - Enersense International: Profitability as expected - Evli - Enersense’s Q2 report didn’t offer many surprises. Enersense’s operations and strategy seem to proceed pretty much according to plan.
6/4/2021 6:27:14 AM - Enersense planerar nyemission och byte till huvudlistan i Finland - Enersense International meddelade i februari att man siktade på huvudlistan i Finland och att i samband med skiftet skulle man potentiellt ta in kapital. Bolaget ska nu ta in 15 miljoner euro i en nyemission, enligt ett pressmeddelande.
5/11/2021 6:42:01 AM - Enersense International: Updated estimates due to transition to IFRS reporting - Evli - On Thursday, Enersense announced the transition to IFRS reporting and new guidance. Enersense expects net sales to amount to EUR 215-245m, adj. EBITDA of EUR 17-20m, and adj. EBIT of EUR 8-11m in 2021. We have updated our estimates in accordance with IFRS reporting and retain our TP of EUR 11 and BUY-rating.
5/5/2021 7:02:37 AM - Enersense International: Good start to the year - Evli - Enersense reported a better-than-expected Q1 result and 9% increase in the order backlog compared to the end of Q4/20. The company also announced that it has concluded negotiations on a new financing package. We have made upward revisions to our estimates and raise our TP to EUR 11 (9.7), BUY-rating intact.
5/4/2021 9:49:55 AM - Enersense International: Strong Q1 beat our expectations - Evli - Enersense’s Q1 net sales and profitability beat our expectations. Net sales amounted to EUR 52.4m (Evli EUR 44.5m) and adj. EBITDA was EUR 1.7m (Evli EUR 0.5m). Enersense also announced that it has concluded negotiations on a new financing package.