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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.£43.8m
Last close34.70p
High / Low (52 weeks)70.6p / 34.7p
Stock market listingLN
Forecast net debt (m)N/A
Forecast gearing ratio (%)N/A
TeamFinancials
SectorFinancials

Price performance

%1m3m12m
Actual(18.8)(38.5)(46.6)
Relative *(17.9)(33.5)(43.7)

* % 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

What's Going On At Tungsten Corp PLC?

Thu, 21 May 2015 12:11:15 GMT

Who Owns Most Of Tungsten Corporation Plc (LON:TUNG)?

Tue, 26 Dec 2017 14:03:45 GMT

Tungsten Corp. 2018 Q2 - Results - Earnings Call Slides

Mon, 25 Jul 2016 17:15:00 GMT

Tungsten Corp. 2016 Q1 - Results - Earnings Call Slides

Mon, 25 Jul 2016 17:15:00 GMT

Investment summary

Tungsten's September AGM trading update indicated that it is on track for its FY19 trading guidance, including revenue of at least £37.5m (constant currency basis), stable gross margin and operating expenses, and an EBITDA profit. Growth is expected to accelerate during the year. In Q119 revenue was £8.6m and five new accounts payable (AP) customers have been signed. The EBITDA loss in the quarter was £0.5m. The pipeline of potential AP customers includes four at the contracting stage and a number of new or enhanced services introduced recently. The outstanding balance at Tungsten Network Finance has continued to rise with an average of £60m for July vs £43m for April. In October Tungsten announced that two non-executive directors would stand down, including chairman Nick Parker. Tony Bromovsky has succeeded him in this position.

Last updated on 26/10/2018

Y/E Apr Revenue (£m) EBITDA (£m) PBT (£m) EPS (p) P/E (x) P/CF (x)
2017A 31.3 (11.8) (12.7) (9.9) N/A N/A
2018A 33.7 (4.6) (12.7) (9.5) N/A N/A
2019E N/A N/A N/A N/A N/A N/A
2020E N/A N/A N/A N/A N/A N/A

Last updated on 22/10/2018

Latest research

Latest video

Executive interview - Tungsten Corporation, CEO Richard Hurwitz

Industry outlook

The underlying efficiency benefits for companies adopting e-invoicing and related services provides a positive backdrop for the business. Having effectively completed the renewal of the network infrastructure, updating of products and restarting the finance business Tungsten is well placed to give greater focus to revenue growth. H119 results are due to be announced 13 December.

Last updated on 26/10/2018

Key management

David Williams , CFO

Company address

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