Windar Photonics (WPHO)

Business description

Windar Photonics is a UK-registered, Copenhagen-based developer and manufacturer of an innovative low-cost light detection and ranging (LIDAR) system.

Stock data

Market cap.£36.6m
Last close87.50p
High / Low (52 weeks)114.0p / 68.5p
Stock market listingLN
Forecast net debt (m)N/A
Forecast gearing ratio (%)N/A
TeamIndustrials
SectorAlternative Energy

Price performance

%1m3m12m
Actual1.22.9(24.6)
Relative *3.13.4(31.7)

* % Relative to local index

Other companies in sector Show

Company news

Windar Photonics soars as it secures order for 25 WindEYE units

Fri, 07 Apr 2017 07:34:58 GMT

Windar Photonics picks up five unit order from India

Wed, 28 Dec 2016 13:43:56 GMT

Everything blowing in the right direction for Windar

Fri, 04 Nov 2016 13:52:55 GMT

What's The Cash Runway For Windar Photonics PLC (AIM:WPHO)?

Wed, 08 Nov 2017 15:33:45 GMT

Windar Photonics PLC (WPHO) Increases 3.91% on Nov 10

Fri, 10 Nov 2017 09:11:15 GMT

Y/E Dec Revenue (€m) EBITDA (€m) PBT (€m) EPS (fd) (c) P/E (x) P/CF (x)
2015A 0.9 (2.8) (3.3) (8.4) N/A N/A
2016A 1.2 (2.4) (3.0) (7.3) 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 18/10/2017

Investment summary

Windar’s H117 results show €1.3m revenues for the six-month period ahead of those achieved in the whole of FY16, while the cost base realignment during H216 resulted in a 71% reduction in EBITDA losses to €0.4m. The growth was driven by demand from independent power providers (IPPs) and was particularly strong in Asia. Engagement with IPPs has intensified following management’s decision a year ago to develop its global network of distributors rather than invest in the direct salesforce. Windar now has 14 distributors addressing the IPP retrofit market. The OEM segment accounted for only a small proportion of total revenue, but presents a significant opportunity for growth as Windar currently has ongoing projects with 13 wind turbine OEMs, including the majority of the top 10 players globally.

Last updated on 02/11/2017

Industry outlook

Our estimates and valuation remain suspended until there is more clarity on test programmes with IPPs and wind turbine OEMs converting to volume sales.

Last updated on 02/11/2017

Key management

Martin Rambusch, CEO
Jørgen Laustsen, COO

Company address

Helgeshøj Alle 16-18
DK-2630 Taastrup
Denmark
+45 2055 5599
View website