Edison Investment Research - Windar Photonics (WPHO) Windar Photonics - Continued strong growth in revenues

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Edison Investment Research

Anne Margaret Crow

Windar Photonics - Continued strong growth in revenues

H118 has started well with 33% y-o-y jump in revenues taking Windar close to EBITDA breakeven. The distribution agreement with Vestas announced in June should help drive sales to independent power providers (IPPs) globally. However, a shortage of key components in Q218 means the company has issued FY18 revenue guidance of â‚¬4.0â€“4.5m, which is significantly below our previous estimate. We revise our estimates and adjust our indicative valuation from 125p/share to 124p/share.

01/10/2018 6 EN

Underlying

Windar Photonics

Windar Photonics is a technology group that has developed and sells a Light Detection and Ranging sensors (LIDAR) and associated products for use on electricity generating wind turbines. LIDAR wind sensors in general are designed to remotely measure wind speed and direction. Co.'s main products are the WindEye™ and WindVision™ Sensors which measure the wind speed at different measuring points by scanning a laser beam ahead of the wind turbine.

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GB00BTFR4F17 London Stock Exchange United Kingdom

Provider

Edison Investment Research

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.

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Analysts

Anne Margaret Crow

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Windar Photonics - Continued strong growth in revenues

Hybridan Small Cap Feast - 08 April 2024

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