Search Follow us

Thin Film Electronics (THIN)

Business description

Thin Film Electronics is a global leader in NFC mobile marketing and smart-packaging solutions using printed electronics technology, which should enable it to offer printed NFC tags at a substantially lower price point than conventional silicon tags.

Stock data

Market cap.NOK743m
Last closeNOK0.63
High / Low (52 weeks)NOK2.3 / NOK0.6
Stock market listingNO
Forecast net cash (US$m)21.8
Forecast gearing ratio (%)N/A

Price performance

Relative *(6.8)(23.3)(73)

* % 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 Bigblu Broadband
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
Codere Comptel
Covata Craneware
Cypress Semiconductor DATAGROUP
DDD Group Dillistone Group
door2door dotDigital
DSP Group e2v technologies
Eagle Eye Eckoh
Elmos Semiconductor EMIS
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 Forward Industries
FreeAgent Freelancer
Fusionex International Games Workshop Group
Gamma Communications GB Group
GBST Holdings GeoOp
GetBusy GFT
Globo GO internet
Greek Organization of Football Prognostics GVC Holdings
Himax Technologies Hrvatski Telekom
ifa systems ikeGPS Group
Infinera Inmarsat
Innovation Group InVision
IQE IS Solutions
ISRA VISION IT Competence Group
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
Mobotix Monitise
Montage Technology Morse
mVISE My Net Fone
Mynaric Nano Dimension
Nanoco Group nearmap
Nemetschek Netcall
NetCents NetDimensions
Netflix Nexus Management
NFON O2Micro International
OMG OmniVision Technologies
Orion Health Group Osirium Technologies
Outsourcery Panorama Synergy
Pantaflix Patsystems
Paysafe Group Pebble Beach Systems Group
Pelatro 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 Rex Bionics
Rheinmetall RM
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
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

Company news

Y/E Dec Revenue (US$m) EBITDA (US$m) PBT (US$m) EPS (c) P/E (x) P/CF (x)
2016A 3.8 (36.9) (42.8) (6.5) N/A N/A
2017A 5.9 (50.9) (57.5) (6.6) N/A N/A
2018E 2.8 (48.5) (53.2) (4.5) N/A N/A
2019E 9.2 (49.1) (57.7) (4.9) N/A N/A

Last updated on 29/01/2019

Investment summary

Thinfilm has announced that it has been voted onto the NFC Forum board of directors. This is the governing body of the organisation and as such is responsible for its budget, specification of standards and overall direction of NFC deployment. Our perusal of NFC Forum bylaws reveals that to be accepted as a board director, new members must be approved by at least 80% of the existing board, which comprises Apple, Dai Nippon Printing, Google, Infineon, Mastercard Worldwide, NXP, Qualcomm, Samsung, Sony, STMicroelectronics and Visa. While Thinfilm is much smaller than any of these organisations, its experience of over 40 in-market developments,which management believes is the largest number conducted by an individual NFC tag solutions provider, complements those of its larger peers.

Last updated on 01/02/2019

Industry outlook

We note that the appointment should also be supportive of Thinfilm’s initiative to have its proprietary Tag-Talks-First (TTF) protocol included as part of the main NFC standard. We see this as a key step in getting Apple phones to support TTF protocol. In contrast, Android-based phones have supported TTF protocol for several years.

Last updated on 01/02/2019

Key management

Kevin Barber, CEO
Ole Ronny Thorsnes, CFO
Morten Opstad, Non-Executive Chairman
Christer Karlsson, CTO

Company address

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