Thin Film Electronics (THIN)

Business description

Thin Film Electronics (Thinfilm) is a global leader in NFC marketing and smart-packaging solutions using printed electronics. It creates printed tags, labels, and systems that include memory, sensors, displays, and wireless communications at low cost points vs conventional electronics.

Stock data

Market cap.NOK2329.7m
Last closeNOK1.99
High / Low (52 weeks)NOK4.0 / NOK1.8
Stock market listingNO
Forecast net debt (m)N/A
Forecast gearing ratio (%)N/A
TeamTechnology
SectorTechnology

Price performance

%1m3m12m
Actual(5.1)(12.6)(42)
Relative *(9.4)(19.5)(52.6)

* % Relative to local index

Other companies in sector Show

1Spatial 7digital Group
accesso Technology Group ADVA Optical Networking
Advanced Computer Software Group Advanced Micro Devices
AIXTRON Aladdin Blockchain Technologies
Algomizer All for One Steeb AG
Allocate Software Allot Communications
Alpha and Omega Semiconductor Alphapoint Technology Inc
Amazon Amino Technologies
ANADIGICS appScatter
Arria NLG artec technologies
AsiaCell AT&S Austria Technologie & Systemtechnik
Beta Systems Blancco Technology Group
blinkx Blue Prism
blur Group Boku
Brady Bulletproof Group
Carclo Catapult Group International
Celltick Technologies CENIT
CentralNic Cerillion
CityFibre Infrastructure Holdings Claranova
Cliq Digital CML Microsystems
CoAssets Comptel
Covata Craneware
CREALOGIX Group Cyan
Cypress Semiconductor DATAGROUP
DDD Group Dillistone Group
door2door dotDigital
DSP Group e2v technologies
Eagle Eye Eckoh
Elmos Semiconductor EMIS Group
Emulex Endace
EnWave Corporation Epipoli
eServGlobal Esker
Evolving Systems EVR Holdings PLC
Expert System Facebook
Featurespace FFastFill
FinTech Group First Derivatives
First Sensor Focus Solutions Group
Foresight Autonomous Holdings FreeAgent
Freelancer Fusionex International
Gamma Communications GB Group
GBST Holdings GeoOp
GetBusy GFT
Globo GO internet
GVC Holdings Himax Technologies
Hrvatski Telekom ifa systems
ikeGPS Group Infinera
Inmarsat Innovation Group
InVision IQE
IS Solutions ISRA VISION
IXYS Jenoptik
K3 Business Technology Kainos
Kalibrate Technologies Kape Technologies
Keywords Studios Learning Technologies Group
LRAD Corporation Magix
Manpower Software Manx Telecom
Manz Max 21
Maxima Holdings Medicsight
Mensch & Maschine Software Mercia Technologies
Micro Focus International Micron Technology
Migme Mobile ecosystems
Monitise Montage Technology
Morse mVISE
My Net Fone Mynaric
Nano Dimension Nanoco Group
nearmap Nemetschek
Netcall NetCents
NetDimensions Netflix
Nexus Management O2Micro International
OMG OmniVision Technologies
Orion Health Group Osirium Technologies
Outsourcery Panorama Synergy
Pantaflix Patsystems
Paysafe Group Pebble Beach Systems Group
Pericom Semiconductor Phitek
Piteco PLX Technology
Pointer Telocation Pricer
Prodware PSI
Pure Wafer QSC
Quartix Holdings Real Estate Investar Group
REALTECH Redflex Holdings
Redstone Reed Elsevier
Reply SpA Results.com
Rex Bionics Rheinmetall
RM S&T
SCISYS Secunet
Seeing Machines Sepura
Serko Seven Principles
Siemens Sigma Designs
Silicom Silicon Image
SimiGon SinnerSchrader
SITO Mobile SLI Systems
Smartpay Holdings SNP Schneider-Neureither & Partner
Software AG Solera
Solutions 30 Spansion
Spirent Communications SQS Software Quality Systems AG
Stadium Group StatPro Group
STEMMER IMAGING Store Electronic Systems
Straker Translations SuperCom
Synchronica Taptica
Technology sector TerraNet
Texas Instruments The NAGA Group
Thoughtonomy Tikit Group
Toumaz Track Group
TXT e-solutions TZ Limited
Ubisense Group UMT United Mobility Technology
United Power Technology VASCO Data Security
Vectron Systems Virtual Piggy
Vista Group International Vitec
Vizrt VMob Group
WANdisco Webinar
Wincor Nixdorf WorkPlace Systems International
XP Power Xploite
Xplore Technologies Corp YuuZoo

Company news

Y/E Dec Revenue (US$m) EBITDA (US$m) PBT (US$m) EPS (c) P/E (x) P/CF (x)
2015A 4.4 (29.2) (28.3) (5.3) N/A N/A
2016A 3.8 (37.1) (43.0) (6.6) N/A N/A
2017E N/A N/A N/A N/A N/A N/A
2018E N/A N/A N/A N/A N/A N/A

Last updated on 13/04/2018

Investment summary

In Q217, Thinfilm started production of EAS (electronic article surveillance) and NFC tags at its new production facility in San Jose and commenced sales of temperature sensor smart labels. Thinfilm reported a q-o-q doubling in Q2 sales revenues to $1.4m, giving rise to Q217 EBITDA losses of $13.3m. Mid-year cash balances totalled $28.2m. The exclusion of Thinfilm's tags from those to be recognised by Apple phones using iOS 11 have led Thinfilm to decide to sell conventional silicon NFC tags alongside its printed PDPS variety. Thinfilm is working to have its protocol recognised by the NFC Forum but we see Apple's decision as likely to negatively affect PDPS tag demand while this process is ongoing.

Last updated on 27/04/2018

Industry outlook

Thinfilm is the global leader in printed electronics, which is a low-cost and highly scalable method of creating smart labels for the Internet of Things. The company is currently focused on three areas: NFC labels, most notably NFC SpeedTap, which is on pilot trial with a number of brands; memory labels, which are in production; and temperature sensor smart labels, where it has shipped product to go-to-market partners. The ability of printed electronics to add intelligence to low-cost, high-volume products opens a wide range of potential applications.

Last updated on 27/04/2018

Key management

Davor P. Sutija, CEO
Ole Ronny Thorsnes, CFO
Morten Opstad, Non-Executive Chairman
Christer Karlsson, CTO
Bill Cummings, VP, Marketing & Communications

Company address

Henrik Ibsens Gate 100
PO Box 2911 Solli
0230 Oslo
Norway
+47 23 27 51 59
View website