Leclanché

SW: LECN

CHF91.4m market cap

CHF0.57 last close

Leclanché is a fully vertically integrated energy storage solution provider. It delivers a wide range of energy storage solutions for homes, small offices, large industries and electricity grids as well as hybridisation for mass transport systems such as bus fleets and ferries.

Investment summary

Leclanché is not proceeding with the agreements with Eneris announced in June to create two JVs: one manufacturing battery cells, the other assembling battery modules. Instead it is in discussions with key customers as well as Eneris to form a JV manufacturing up to 2.4GWh of battery cells annually. Our estimates remain under review until there is greater visibility regarding this JV.

Y/E Dec
Revenue (CHFm)
EBITDA (CHFm)
PBT (CHFm)
EPS (fd) (CHFc)
P/E (x)
P/CF (x)
2018A 48.7 (36.9) (47.8) (61.5) N/A N/A
2019A 16.3 (57.5) (71.5) (52.6) N/A N/A
2020E N/A N/A N/A N/A N/A N/A
2021E N/A N/A N/A N/A N/A N/A
Industry outlook

Leclanché will supply an industrial size battery, 12 metres long, with a capacity of 2.5MW-hours and a power output of 2MW. The experiment will focus on the power grid management and monitoring system, enhancing its functionality and checking on the interaction between the grid and the individual generation facilities.

Last updated on 18/09/2020
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Sector
Industrials
Share price graph
Balance sheet
Forecast net debt (CHFm) N/A
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual (3.4) (6.6) (64.4)
Relative* (6.8) (9.7) (66.1)
52-week high/low CHF1.6/CHF0.5
*% relative to local index
Key management
Stefan A. Müller Chairman
Anil Srivastava CEO
Hubert Angleys FD