Fluence Corporation - Exceptional bookings growth
In a typically quiet quarter, Fluence enjoyed exceptional bookings. Aside from the US$188m CES (custom engineered solution) win in Ivory Coast, it also secured a $20m contract in Egypt and a further ITEST deal. Revenue rose 20% y-o-y and the gross cash balance was $24m ($14.7m outflow). Forecasting CES deals are hard and we trim FY19 sales by 10% to reflect a more cautious view on further big wins boosting FY19 numbers, but the company still expects EBITDA breakeven during Q419 and FY20 estimates are substantively unchanged. The share price implies an FY20 P/E of 8.6x.Fluence is engaged in the application of surface coating and protection and structural rehabilitation and maintenance technologies; and mobile phone handset manufacturing and radio frequency identification tag manufacturing sectors. Through its entities, Co. is also engaged in the infrastructure and resources sectors.
Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.
.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.