Light Science Technologies Holdings

LN: LST

Market Cap£12m

Last Close 6.75p

Light Science Technologies Holdings offers a range of products and services for improving productivity in controlled environment agriculture. It also offers an end-to-end, full-service contract electronic manufacturing capability (UK Circuits) based in the UK.

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Investment summary

The group launched its first controlled environment agriculture (CEA) products in July 2021. These LED horticultural lights for glasshouse and polytunnel growers save significant amounts of energy compared with traditional horticultural lights. In June 2022 it launched a smart sensor system with associated software for use in outdoor agricultural environments, vertical farms, polytunnels and glasshouses. In addition, the group is working with major UK salad grower Zenith Nurseries on a novel system combining crop monitoring and production. This could potentially be deployed in the majority of Zenith’s nurseries by 2026 and generate up to £13m in sales.

Y/E Nov
Revenue (£m)
EBITDA (£m)
PBT (£m)
EPS (p)
P/E (x)
P/CF (x)
2020A 6.9 0.5 0.2 0.10 67.5 24.2
2021A 7.4 (1.1) (1.6) (0.81) N/A N/A
2022E N/A N/A N/A N/A N/A N/A
2023E N/A N/A N/A N/A N/A N/A
Industry outlook

The CEA division has recently started work on several paid-for customer trials, including one at a vertical farm R&D facility and one with a major UK manufacturer of preserves, marmalades and associated products. These could potentially result in product orders collectively worth c £3m over the next 12 months, which contribute to a sales pipeline of quoted work across both divisions of over £61m.

Last updated on 30/09/2022
Content on Light Science Technologies Holdings
Light Science Technologies Holdings – Progress in both divisions
Industrials | research Flash note | 30 September 2022
tomatoes in the greenhouse
Light Science Technologies Holdings – Helping grow more with less
Industrials | research Initiation | 22 September 2022
tomatoes in the greenhouse
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Share price graph
Balance sheet
Forecast net debt (£m) N/A
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual 8.0 (20.6) N/A
Relative* 15.0 (16.8) N/A
52-week high/low 30.0p/6.0p
*% relative to local index
Key management
Simon Deacon CEO
Jim Snooks CFO
Andrew Hempsall COO
Myles Halley Non-executive chairman