Intelligent Energy Holdings (IEH)

Business description

Intelligent Energy delivers clean energy solutions for the distributed energy, diesel replacement, automotive and aerial drone markets. It works with international companies to embed its fuel cell stack technology into applications across target markets.

Stock data

Market cap.£5.1m
Last close2.45p
High / Low (52 weeks)14.1p / 2.5p
Stock market listingLN
Forecast net debt (£m)19.1
Forecast gearing ratio (%)233
TeamIndustrials
SectorGeneral Industrials

Price performance

%1m3m12m
Actual(69.2)(67.3)(82.2)
Relative *(68.9)(66.8)(83.3)

* % Relative to local index

Other companies in sector Show

Company news

Ceres powers higher but misery continues at Intelligent Energy

Mon, 25 Sep 2017 09:56:15 GMT

Investors fear fuel cell firm Intelligent Energy won't keep the lights on

Fri, 22 Sep 2017 08:37:30 GMT

Intelligent Energy Initiates Sale Process, Faces "Uncertain" Outlook

Fri, 22 Sep 2017 08:03:45 GMT

Intelligent Energy rockets higher after unveiling first sale of fuel cell ...

Thu, 23 Mar 2017 10:04:13 GMT

Intelligent Energy Holding PLC shares jump on the back of job losses

Mon, 04 Apr 2016 14:45:12 GMT

Y/E Sep Revenue (£m) EBITDA (£m) PBT (£m) EPS (fd) (p) P/E (x) P/CF (x)
2015A 78.2 (46.2) (51.8) (21.4) N/A N/A
2016A 91.8 (33.4) (42.8) (13.5) N/A N/A
2017E 24.6 (13.2) (21.7) (2.5) N/A N/A
2018E N/A N/A N/A N/A N/A N/A

Last updated on 24/08/2017

Investment summary

Intelligent Energy’s interims demonstrate that management has succeeded in reducing cash burn to its stated target of c £1.6m/month. It intends to bring the group to a cash break-even position within the next two years through volume roll-out of standard air-cooled products. Project wins during the period indicate there is appetite for Intelligent Energy’s fuel cell stacks in the target markets, although we note that additional funding will be required to support this process.

Last updated on 06/09/2017

Industry outlook

Stripping out revenues from the power management activity, which was discontinued in November (£16.7m H117, £40.9m H116), revenues dropped from £3.0m to £2.0m. Total adjusted EBITDA losses more than halved from £21.6m to £9.1m, reflecting the cost-reduction programme implemented during H216. Cash consumption during the half-year period totalled £7.7m, of which £2.0m was interest on the convertible loan notes, leaving £13.0m at the end of March.

Last updated on 06/09/2017

Key management

Martin Bloom, CEO
John Maguire, CFO

Company address

Charnwood Building
Holywell Park, Ashby Road
Loughborough
LE11 3GB
United Kingdom
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