Ensurge Micropower

NO: ENSU

Market CapNOK1261m

Last Close NOK0.72

Ensurge Micropower’s (previously Thin Film Electronics’) solid-state lithium battery technology combines advanced energy cell design with proprietary materials and manufacturing innovation to produce thin, flexible batteries that can power safer and more capable hearables and wearable devices.

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Investment summary

Ensurge formally completed its first product design in January and has manufactured its first prototype cells. It recently announced its first customer agreement with a global leader in the hearables market under which it will deliver customised solid-state microbatteries based on the Ensurge Microbattery Product Platform. This agreement, which addresses the medical hearables market, follows the announcement in May of a customer agreement with a Fortune Global 500 company addressing the broader wearables market. The company looks on track to deliver initial product revenues in late 2021.

Y/E Dec
Revenue (US$m)
EBITDA (US$m)
PBT (US$m)
EPS (c)
P/E (x)
P/CF (x)
2019A 1.2 (30.6) (35.9) (61.23) N/A N/A
2020A 0.5 (11.4) (15.3) (3.90) N/A N/A
2021E N/A N/A N/A N/A N/A N/A
2022E N/A N/A N/A N/A N/A N/A
Industry outlook

Ensurge is continuing its programme to transfer process technology from a sheet-based production line to the much higher-volume roll-to-roll line ahead of volume ramp-up by end FY21.

Last updated on 17/09/2021
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Share price graph
Balance sheet
Forecast net debt (US$m) N/A
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual 12.8 (2.0) 106.3
Relative* 13.8 (3.0) 60.9
52-week high/low NOK1.2/NOK0.3
*% relative to local index
Key management
Kevin Barber CEO
Arvind Kamath EVP technology development and manufacturing
David Williamson Interim CFO
Morten Opstad Non-executive chairman