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Nanoco Group (LSE: NANO)

Last close As at 17/04/2024

GBP0.22

▲ −1.00 (−4.44%)

Market capitalisation

GBP43m

Nanoco Group is a global leader in the development and manufacture of cadmium-free quantum dots and other nanomaterials, with c 375 patents. Focus applications are advanced electronics, displays, bio-imaging and horticulture.

Management has said that an order for around 100m sensor units could generate c £20m in revenue, which would equate to deployment across a high-volume handset range, especially if multiple sensors are included in the device. By way of context, Yole Research estimates the CMOS image sensor market is worth $21.2bn, growing to $30bn by 2030, with applications across almost any market involving image capture mobile devices, automotive, industrial, surveying, security and agriculture.

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TMT | Flash note

Nanoco — Mechanisms for shareholder returns confirmed

TMT | Flash note

Nanoco — Steps on the pathway to volume production

TMT | Flash note

Nanoco — Another major milestone delivered

TMT | Flash note

Nanoco Group — First commercial order fulfilled – major milestone
Nanoco Group_resized
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Sector

TMT

Equity Analyst

Max Hayes

Max Hayes

Associate Analyst

Dan Ridsdale

Head of Technology

Key Management

  • Brian Tenner

    CEO

  • Liam Gray

    CFO

Balance Sheet

Forecast net cash (£m)

25.8

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
% 1M 3M 12M
Actual 3.4 1.2 13.2
Relative 2.1 (3.6) 13.4
52 week high/low 23.4p/15.6p

Financials

Nanoco’s interim results mark a new chapter in the company’s development. With the tender offer and buyback returning £33m of settlement proceeds closing on 11 April, the focus will now be fully on building the business as a developer, manufacturer and licensor of nanomaterials. Significant milestones have been achieved in H1 with the first commercial order fulfilled and joint development agreements signed with STMicro and a chemical supplier into the electronics supply chain. Earlier-stage work with other potential partners is ongoing.

Y/E Jul Revenue (£m) EBITDA (£m) PBT (£m) EPS (fd) (p) P/E (x) P/CF (x)
2022A 2.5 (2.1) (4.6) (1.32) N/A N/A
2023A 5.6 (0.4) (3.6) (0.66) N/A N/A
2024E 8.6 1.3 (0.4) (0.13) N/A 53.6
2025E N/A N/A N/A N/A N/A N/A

Research

Flash note

TMT

Nanoco — Steps on the pathway to volume production
Nanoco Group_resized

Flash note

TMT

Nanoco — Another major milestone delivered
Nanoco Group_resized

TMT

Flash note

Nanoco — Mechanisms for shareholder returns confirmed

Nanoco Group_resized
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Thematics

thematic

TMT

MediaWatch – Rinse and repeat

thematic

Consumer

Deutsches Eigenkapitalforum (EKF) 2023 consumer and media

thematic

TMT

Deutsches Eigenkapitalforum (EKF) 2023 technology

thematic

TMT

MediaWatch – Still waiting…
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