reports
- Toby Thorrington
Solid State - Anticipating record adjusted PBT in FY24
Solid State’s trading update affirms the sustained strength in demand throughout H224, resulting in record FY24 revenue and adjusted PBT ahead of prior consensus of £155m and £12.5m, respectively. This is attributable to the earlier-than-expected delivery of a NATO contract. As a result, consensus FY24 revenue and adjusted PBT estimates have been raised by c 6% and c 20%, with respective FY25 estimates declining commensurately.
- Toby Thorrington
Solid State - Returning to trend growth
Solid State has confirmed the strong H124 performance, boosted by a full period contribution from Custom Power combined with the benefit of delivering the NATO contract. Despite the continuing challenges we expect organic growth to resume from the lower trend level of profit excluding the NATO uplift from H224. Following the recent 5% uplift for both revenue and PBT, FY24 guidance and market consensus estimates are unchanged.
Hybridan Small Cap Feast - 05 Dec 23
5th December 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment obje...
- Toby Thorrington
Solid State - Strong organic development in H124
Solid State has made an excellent start to FY24 with strong continuing organic growth in H124 enhanced by a full period contribution from Custom Power. As a result, management anticipates better-than-expected revenues and PBT for the full year with market consensus rising by c 5% to £155m and £12.5m, respectively.
Hybridan Small Cap Feast - 30 Oct 23
30th October 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment obje...
Solid State : 1 director
A director at Solid State maiden bought 1,900 shares at 1,284p and the significance rating of the trade was 69/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clear...
- Toby Thorrington
Solid State - Positive trading momentum carried into FY24
Solid State confirmed record revenues and adjusted PBT in FY23. The positive momentum is continuing into FY24 with a consequent increase in guidance for revenue growth of c 15% and adjusted PBT of c 10%. As a result, consensus estimates for FY24 revenue have increased by 11% to £147m and adjusted PBT has been raised by c 5% to £11.9m.
Hybridan Small Cap Feast - 10 May 23
10th May 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment objectiv...
- Toby Thorrington
Solid State - Expecting record adjusted PBT in FY23
Solid State’s trading update confirms that trading continued strongly during H223, resulting in record revenues of c £125m and adjusted profit before tax of at least £10.5m in FY23. Consensus PBT estimates for FY23 and FY24 have not been changed, but consensus revenue estimates have been raised by 4% and 2%, respectively, for FY23 and FY24.
- Toby Thorrington
Solid State - Record customer demand
Solid State’s H123 results show strong revenue growth (51% y-o-y) and order intake (up 32% vs end-FY22) reflecting 31% organic growth in constant currency, as well as the acquisition of United States-based Custom Power and currency tailwinds. Trading since the period end has been ahead of management expectations, so consensus EPS estimates have been raised by 9% and 3% for FY23 and FY24, respectively.
- Toby Thorrington
Solid State - Exceptionally strong start to year
FY23 has started extremely well for Solid State with strong revenue growth and order intake supported by the acquisition of US-based Custom Power, which completed in August. Following management guidance that FY23 PBT should be marginally ahead of market expectations, consensus PBT estimates have been nudged up by 2% for FY23 and 3% for FY24.
- Toby Thorrington
Solid State - Five-year growth target achieved
Solid State delivered record revenues and profits during FY22, with adjusted EPS rising by 29% year-on-year to 70.6p. This is well ahead of management’s own five-year target of doubling EPS to more than 60p by 2022, giving a CAGR in total shareholder return of above 20% over the five-year period. Management is now seeking to replicate or better that achievement over the next five years to 2027.
Solid State Plc enters agreement to acquire battery pack manufacturer ...
Solid State Plc enters agreement to acquire battery pack manufacturer Custom Power LLC Redditch, UK, July 18, 2022 (GLOBE NEWSWIRE) -- Solid State Plc (AIM:SOLI), the specialist value added component supplier and design-in manufacturer of computing, power and communications products, announces that it has entered into a conditional agreement to acquire Custom Power LLC for a maximum consideration of $45.0m. Custom Power is a battery systems manufacturer and energy solutions provider based near Los Angeles in the United States of America. Commenting on the acquisition, Solid State Plc CE...
- Toby Thorrington
Solid State - Step change in Power capabilities
Solid State is acquiring Custom Power, a California-based battery systems manufacturer and energy solutions provider, for up to $45.0m (c £36.0m) in cash. It is raising up to £27.2m (gross) through a placing and open offer at 1,025p/share to partly finance the acquisition. Management believes that the acquisition will be earnings enhancing in its first full year (FY24).
- Toby Thorrington
Solid State - Strong finish to FY22 to deliver record profit
Solid State’s trading update this morning notes that, following an exceptionally strong finish to FY22, it expects the group to announce a 28% increase in revenues year-on-year to a record c £85m and a 33% jump in adjusted profit before tax to c £7.2m, also a record. Consensus FY22 and FY23 adjusted PBT estimates, which were upgraded in February, have been raised by 11% and 12% respectively.
- Toby Thorrington
Solid State - Successfully negotiating supply chain issues
Solid State’s trading update this morning notes that the strong performance achieved in both the Systems and the Components divisions during H122 has been maintained so far during H2 despite continued supply chain disruption. Consensus FY22 and FY23 adjusted PBT estimates have both been raised by 10%.
- Toby Thorrington
Solid State - Successfully negotiating supply chain issues
Solid State’s trading update this morning notes that the strong performance achieved in both the Systems and the Components divisions during H122 has been maintained so far during H2 despite continued supply chain disruption. Consensus FY22 and FY23 adjusted PBT estimates have both been raised by 10%.
- Toby Thorrington
Solid State - Record performance in H122
As flagged in its October trading update, during H122 Solid State realised strong year-on-year growth in revenues (19%) and adjusted profit before tax (28%), with both metrics reaching record levels. Management continues to see potential for upside during H2, dependent on careful management of constraints due to supply chain challenges, and is confident that the group will meet the consensus estimate for FY22 adjusted profit before tax. Consensus estimates remain unchanged for now.
- Toby Thorrington
Solid State - Record performance in H122
As flagged in its October trading update, during H122 Solid State realised strong year-on-year growth in revenues (19%) and adjusted profit before tax (28%), with both metrics reaching record levels. Management continues to see potential for upside during H2, dependent on careful management of constraints due to supply chain challenges, and is confident that the group will meet the consensus estimate for FY22 adjusted profit before tax. Consensus estimates remain unchanged for now.
- Toby Thorrington
Solid State - Trading on track with potential H2 upside
Solid State’s post-close trading update states that it expects to announce strong year-on-year growth in both revenues (18%) and adjusted profit before tax (27%) for its first half to 30 September 2021. While management sees potential for upside during H2, dependent on successful navigation of supply chain challenges, and is confident that the group will meet the FY22 consensus adjusted profit before tax estimate, the consensus estimates remain unchanged at present.
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.