Windar Photonics (WPHO)

Sector:

Electronic and Electrical Equipment

Index:

FTSE AIM All-Share

44.00p
   
  • Change Today:
      4.00p
  • 52 Week High: 50.50
  • 52 Week Low: 23.50
  • Currency: UK Pounds
  • Shares Issued: 81.29m
  • Volume: 150,630
  • Market Cap: £35.77m
  • RiskGrade: 745

Windar Photonics signals record year in 2017

By Josh White

Date: Tuesday 06 Feb 2018

LONDON (ShareCast) - (ShareCast News) - Windar Photonics updated the market on its trading for the 12 month period to 31 December on Tuesday, reporting that overall, the company continued to make "good progress" in all of its important key areas
The AIM-traded firm said its revenue increased to €2.2m, up by 84% on revenue in 2016, while gross profit was €1.0m against €0.6m in 2016.

Order intake in 2017 was €5.9m - up four-fold compared to 2016, with the company's order backlog at the end of 2017 for deliveries in 2018 improved to €3.9m, up from €0.2m at the end of 2016.

Windar said it continued to reduce its operational costs by 30% to €2.1m, despite realising costs related to the realignment process carried through in 2017.

It said its net EBITDA loss for the year was reduced by 57% to €1.1m.

Cash holdings at the end of 2017 amounted to €1.3m, including restricted cash holdings of €0.2m, which were up from €0.8m and nil respectively in 2016.

"As part of our realignment process undertaken in 2017, combined with extending our distribution network around the world, we have now further reduced costs with closures of offices other than our headquarters and main production facility in Copenhagen and our sales and service office in Shanghai," the board said in its statement.

"Despite the reduction in the overall operational cost level, the company has in 2017 increased resources within our wind analytic and turbine optimisation team who have been focusing on developing new features such as wake and turbulence detection."

Windar said those developments led to a record number of ongoing original equipment manufacturer turbine integration projects at the end of the year.

That development, combined with a reduction in the company's core product costs during the year, permitted competitive pricing of Windar products in the market, the board explained.

Further details of trading in 2017, together with a business update, would be provided in the final results for the year to 31 December 2017, which were expected to be released in late April.

"2017 was a record year for the company and I am particularly pleased that we enter 2018 with a significant order backlog and with further orders already recorded in 2018," said CEO Jørgen Korsgaard Jensen.

"Following the build out of our distributor network in key wind markets with credible partners, we have been able to further rationalise the business to focus on what we do best - developing further LiDAR solutions to reduce costs and to improve the performance of both existing and new build wind farms."

Jensen said that on top of that, with a record number of ongoing OEM integration projects, the board expected that some of those would translate into larger scale orders for new turbine design wins in 2018, supporting the company's long-term revenue targets.

"These factors, along with the reduction in our core product cost base, have laid the foundation for further progress in 2018."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

WPHO Market Data

Currency UK Pounds
Share Price 44.00p
Change Today 4.00p
% Change 10.00 %
52 Week High 50.50
52 Week Low 23.50
Volume 150,630
Shares Issued 81.29m
Market Cap £35.77m
RiskGrade 745

WPHO Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
78.34% below the market average78.34% below the market average78.34% below the market average78.34% below the market average78.34% below the market average
82.35% below the sector average82.35% below the sector average82.35% below the sector average82.35% below the sector average82.35% below the sector average
Price Trend
69.86% above the market average69.86% above the market average69.86% above the market average69.86% above the market average69.86% above the market average
79.49% above the sector average79.49% above the sector average79.49% above the sector average79.49% above the sector average79.49% above the sector average
Income Not Available
Growth
55.32% above the market average55.32% above the market average55.32% above the market average55.32% above the market average55.32% above the market average
58.82% above the sector average58.82% above the sector average58.82% above the sector average58.82% above the sector average58.82% above the sector average

WPHO Dividends

No dividends found

Trades for 19-Apr-2024

Time Volume / Share Price
16:25 4,000 @ 44.50p
15:31 2 @ 46.00p
15:12 850 @ 43.15p
15:05 5,310 @ 43.20p
14:59 9,988 @ 43.35p

WPHO Key Personnel

CEO Jørgen Korsgaard Jensen (Danish)
Chair David George

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