Leclanché

SW: LECN

Market CapCHF287.7m

Last Close CHF0.96

Leclanché is a fully vertically integrated energy storage solution provider. It delivers a wide range of energy storage solutions for utilities and micro-grids as well as hybridisation for mass transport systems such as bus fleets and ferries.

More Leclanché content >

Investment summary

Leclanché has launched a modular, off-the-shelf battery system for deployment in pure-play electric and hybrid trucks and buses. This product introduction is in response to strong demand from potential customers for an off-the-shelf solution because having a standard, pre-qualified system shortens factory lead times and results in a significantly reduced pack price. Importantly, the system has a cycle life almost three times greater than the system offered by the main competitor, helping reduce total cost of ownership, without compromising the amount of charge that can be stored per kilogram. The company expects to sell several dozen systems during FY21 with a selling price in the low tens of thousands of euros per system.

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 has been selected to provide a 5.2MW, 2.9MWh battery storage system for a natural gas-fired power plant in Slovakia. The system will be used to help the plant comply with new European secondary frequency control regulations which become effective in January 2022 and require a plant to deliver its full power in just 7.5 minutes instead of the current 15. This the first time in Eastern Europe that an energy storage system is being deployed to help an existing power plant to support secondary frequency control.

Last updated on 22/04/2021
Content on Leclanché
Leclanché – Powering electric trucks and buses
Industrials | Flash note | 4 February 2021
Leclanché – Construction commenced on St. Kitts project
Industrials | Flash note | 14 December 2020
View more
Register to receive research on Leclanché as it is published
Share price graph
Balance sheet
Forecast net debt (CHFm) N/A
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual 4.803 (7.692) 43.284
Relative* 3.157 (10.111) 22.932
52-week high/low CHF1.2/CHF0.5
*% relative to local index
Key management
Stefan A. Müller Chairman
Anil Srivastava CEO
Hubert Angleys FD