Tungsten Corporation (TUNG)

Business description

Tungsten Corporation operates a global e-invoicing network. It also provides value-added services such as spend analytics to help buyers on its network save money and invoice financing to enable suppliers to receive early payment on their invoices.

Stock data

Market cap.£81.3m
Last close64.50p
High / Low (52 weeks)72.4p / 51.0p
Stock market listingLN
Forecast net cash (£m)10.3
Forecast gearing ratio (%)N/A
TeamFinancials
SectorFinancials

Price performance

%1m3m12m
Actual2.38(4.8)(0.77)
Relative *(0.91)(6.17)(8.27)

* % Relative to local index

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Company news

Tungsten Corp Plc rejects combination offer from its founder

Mon, 21 Mar 2016 08:22:56 GMT

Tungsten Corp sees better momentum despite big loss

Mon, 25 Jul 2016 08:11:50 GMT

Tungsten Corp encouraged by gathering momentum

Tue, 24 May 2016 07:15:47 GMT

What's Going On At Tungsten Corp PLC?

Thu, 21 May 2015 12:11:15 GMT

Are The Rumours True? Is Tungsten Corp PLC Going Private?

Fri, 26 Jun 2015 12:45:00 GMT

Investment summary

Tungsten issued an update at the time of its AGM (15 Sept) reporting that Q118 revenue was up 12% on Q117 on a constant currency basis (year-end April). Encouragingly, it has added three new buyers, including Carlsburg for which it will carry out a multi-year roll-out of e-invoicing services. Other contracts are being renewed at higher prices. During the quarter it entered into a partnership with Tech Mahindra to address newer markets and won three receivables financing mandates totalling $75m following the relaunch of the Tungsten Network Finance business last year.

Last updated on 03/10/2017

Y/E Apr Revenue (£m) EBITDA (£m) PBT (£m) EPS (p) P/E (x) P/CF (x)
2016A 25.9 (16.2) (18.5) (22.0) N/A N/A
2017A 31.3 (11.8) (12.7) (9.9) N/A N/A
2018E 36.7 (6.0) (11.7) (9.3) N/A N/A
2019E N/A N/A N/A N/A N/A N/A

Last updated on 15/09/2017

Latest research

Latest video

Executive interview - Tungsten Corporation, CEO Richard Hurwitz

Industry outlook

The substantial potential savings available to companies adopting e-invoicing in place of paper- or email-based processes remain a key underlying driver of growth for Tungsten. The level of price increases agreed in contract renewals during FY17 (49%) were a tangible measure of the value the Tungsten Network delivers. Tungsten has reiterated that it targets run-rate EBITDA profit in calendar 2017 and also looks for constant currency revenue growth of over 15%, gross margin of at least 90% and adjusted operating expenses of less than £40m. H118 results are due to be announced on 14 December.

Last updated on 03/10/2017

Key management

David Williams , CFO

Company address

Pountney Hill House
6 Laurence Pountney Hill
London
EC4R 0BL
United Kingdom
+ 44(0) 870 1657420
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