Nanoco Group (LSE: NANO)

Last close As at 22/06/2024

GBP0.18

−0.36 (−2.01%)

Market capitalisation

GBP34m

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 that 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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Nanoco Group_resized

Sector

TMT

Equity 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 (1.6) (17.6) (8.4)
Relative 0.2 (22.8) (16.2)
52 week high/low 23.4p/15.6p

Financials

With the successful Samsung litigation now in the rear-view mirror, Nanoco’s focus will be fully on building the business as a developer, manufacturer and licensor of nanomaterials. With its world-class expertise in quantum dots, validated IP and high-volume manufacturing facilities backed up by a strong balance sheet, we believe that the business has a robust platform for growth. Nanoco’s partnerships with STMicro and an Asian chemicals supplier position it strongly to participate in the anticipated adoption of infrared sensors in handsets and other mass consumer devices, which if all goes to plan could drive an inflection in revenues from late FY25 or early FY26.

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 43.8
2025E N/A N/A N/A N/A N/A N/A

Thematics

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MediaWatch – Glimpses of positivity

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MediaWatch – Rinse and repeat

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