Nanoco Group (LSE: NANO)

Last close As at 22/02/2024

GBP0.20

0.30 (1.53%)

Market capitalisation

GBP65m

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 around £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, the CMOS image sensor market is estimated to be worth $21.2bn growing to $30bn by 2030 (by Yole Research), with applications across almost any market involving image capture mobile devices, automotive, industrial, surveying, security and agriculture.

Latest Insights

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TMT | Flash note

Nanoco — Steps on the pathway to volume production

TMT | Flash note

Nanoco — Another major milestone delivered

TMT | Flash note

Nanoco Group — Asian customer moves to the next phase

Nanoco Group_resized

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 (2.93) 10.07 (18.78)
Relative (5.17) 6.77 (16.31)
52 week high/low 24.2p/15.6p

Financials

Nanoco’s trading update confirms that H124 revenues and EBITDA are anticipated to be in line with company expectations. The main new information is that the company has commenced the build and fitout of a new 300m wafer device facility to accelerate product development and test cycles with both existing and new clients. This gives Nanoco scope to grow development revenues in the near term and reduce time to market of new production materials, while aligning the development platform with infrastructure used for high-volume semiconductor manufacture.

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 49.6
2025E N/A N/A N/A N/A N/A N/A

Thematics

thematic

TMT

MediaWatch – Rinse and repeat

thematic

TMT

MediaWatch – Still waiting…

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