European factory is taking shape
Metacon's Q1 report fell short of expectations on a relative basis, although the deviation in absolute terms was marginal. Reflecting the challenging market, information on order flow and existing project deliveries remained limited. Nevertheless, Metacon's recent collaboration with Siemens for the supply chain and capabilities of the European Gigafactory bodes well for the project's credibility. Consequently, we see a reduction in the risks associated with the project and its financing, and slightly increase our target price. However, considering the parameters of the project remain unknown and challenging demand environment will put pressure on revenue and order flow in the short term, we wait for a more attractive risk/reward profile.
Metacon
Metacon is an energy technology company that develops and sells small and large energy systems for the production of hydrogen, electricity and heat. The company was founded in 2011 and has patented technology for the production of hydrogen gas from biogas or other hydrocarbons. The range consists, for example, of gas stations and larger CHP systems. The company has its headquarters in Örebro.
Read more on company pageKey Estimate Figures02.04
2023 | 24e | 25e | |
---|---|---|---|
Revenue | 60.1 | 115.4 | 236.5 |
growth-% | -5.84 % | 91.94 % | 105.00 % |
EBIT (adj.) | -62.7 | -62.1 | -45.2 |
EBIT-% (adj.) | -104.29 % | -53.87 % | -19.10 % |
EPS (adj.) | -0.20 | -0.10 | -0.07 |
Dividend | 0.00 | 0.00 | 0.00 |
Dividend % | |||
P/E (adj.) | - | - | - |
EV/EBITDA | - | - | - |