Anuncio • Mar 28
Esken Announces Cancellation of Listing its Ordinary Shares on the Official List of the Financial Conduct Authority, Effective 8.00 A.M. on 2 April 2024 Further to its announcements on 21 March 2024, Esken Limited announced that, following the appointment of Clare Kennedy, Daniel Imison and Catherine Williamson of AlixPartners UK LLP as joint administrators of the Company, and following an application by Esken to the Financial Conduct Authority, the listing of Esken's ordinary shares on the Official List of the FCA will be cancelled with effect from 8.00 a.m. (London time) on 2 April 2024. The Shares will cease to be admitted to trading on the main market for listed securities of the London Stock Exchange plc with effect from the same time. New Risk • Jan 23
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: €5.22m (US$5.66m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-UK£29m free cash flow). Share price has been highly volatile over the past 3 months (90% average weekly change). Negative equity (-UK£19m). Market cap is less than US$10m (€5.22m market cap, or US$5.66m). Reported Earnings • Dec 01
First half 2024 earnings released: UK£0.059 loss per share (vs UK£0.012 loss in 1H 2023) First half 2024 results: UK£0.059 loss per share (further deteriorated from UK£0.012 loss in 1H 2023). Revenue: UK£9.14m (down 37% from 1H 2023). Net loss: UK£60.4m (loss widened 383% from 1H 2023). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Airlines industry in Europe. Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has fallen by 62% per year, which means it is significantly lagging earnings. New Risk • Nov 30
New major risk - Negative shareholders equity The company has negative equity. Total equity: -UK£19m This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-UK£29m free cash flow). Share price has been highly volatile over the past 3 months (14% average weekly change). Negative equity (-UK£19m). Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (UK£55m net loss in 3 years). Market cap is less than US$100m (€23.2m market cap, or US$25.3m). Anuncio • Nov 25
Esken Limited to Report First Half, 2024 Results on Nov 29, 2023 Esken Limited announced that they will report first half, 2024 results on Nov 29, 2023 Anuncio • Nov 01
Esken Limited in Advanced Discussions with Pioneer Point Partners Regarding A Possible Disposal of the Entire Issued Share Capital of Esken Renewables Esken Limited (LSE:ESKN) noted the recent press speculation regarding Esken Renewables. The Group confirmed that in accordance with the previously announced strategic review of its operating businesses, it is in advanced discussions with Pioneer Point Partners LLP regarding a possible disposal of the entire issued share capital of ESKEN RENEWABLES LIMITED. Should the Group complete the disposal of Esken Renewables, the net proceeds would be used to: repay the committed funding drawn under the Group's facilities agreement with the specialty lender and associated costs; further contribute to the Group's defined benefit pension scheme; and provide additional working capital in the short term. Discussions are ongoing and there can be no certainty that any transaction will be agreed or, if so, on what terms. Reported Earnings • Aug 06
Full year 2023 earnings released: UK£0.025 loss per share (vs UK£0.031 loss in FY 2022) Full year 2023 results: UK£0.025 loss per share (improved from UK£0.031 loss in FY 2022). Revenue: UK£120.0m (up 15% from FY 2022). Net loss: UK£25.2m (loss narrowed 2.4% from FY 2022). Revenue is forecast to grow 9.9% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Airlines industry in Europe. Over the last 3 years on average, earnings per share has increased by 106% per year but the company’s share price has fallen by 53% per year, which means it is significantly lagging earnings. Anuncio • Aug 05
Esken Limited, Annual General Meeting, Aug 30, 2023 Esken Limited, Annual General Meeting, Aug 30, 2023, at 09:00 Coordinated Universal Time. Location: 3rd Floor, 15 Stratford Place London W1C 1BE London United Kingdom Board Change • Aug 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. Independent Non-Executive Director Clive Condie was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. New Risk • Jun 23
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 29% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-UK£21m free cash flow). Share price has been highly volatile over the past 3 months (29% average weekly change). Earnings have declined by 14% per year over the past 5 years. Minor Risk Market cap is less than US$100m (€34.3m market cap, or US$37.6m). Reported Earnings • Jun 22
Full year 2023 earnings released: UK£0.025 loss per share (vs UK£0.03 loss in FY 2022) Full year 2023 results: UK£0.025 loss per share. Revenue: UK£122.2m (up 17% from FY 2022). Net loss: UK£25.2m (loss widened 1.9% from FY 2022). Revenue is forecast to grow 8.4% p.a. on average during the next 3 years, compared to a 7.6% growth forecast for the Airlines industry in Europe. Anuncio • Jun 19
Esken Limited(LSE:ESKN) dropped from FTSE All-Share Index (GBP) Esken Limited(LSE:ESKN) dropped from FTSE All-Share Index (GBP) Anuncio • Jun 16
Esken Limited to Report Fiscal Year 2023 Results on Jun 21, 2023 Esken Limited announced that they will report fiscal year 2023 results on Jun 21, 2023 Reported Earnings • Nov 10
First half 2023 earnings released First half 2023 results: UK£0.01 loss per share. Revenue: UK£58.7m (up 12% from 1H 2022). Net loss: UK£10.2m (loss widened 190% from 1H 2022). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Airlines industry in Europe. Anuncio • Nov 03
Esken Limited to Report First Half, 2023 Results on Nov 09, 2022 Esken Limited announced that they will report first half, 2023 results on Nov 09, 2022 Board Change • Jul 02
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 1 highly experienced director. Independent Non-Executive Director Clive Condie was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Anuncio • Jun 14
Esken Limited, Annual General Meeting, Jul 13, 2022 Esken Limited, Annual General Meeting, Jul 13, 2022. Location: Eversheds Sutherland at 1 Wood Street, Cheapside London United Kingdom Reported Earnings • May 26
Full year 2022 earnings released: UK£0.03 loss per share (vs UK£0.27 loss in FY 2021) Full year 2022 results: UK£0.03 loss per share (up from UK£0.27 loss in FY 2021). Revenue: UK£113.0m (down 3.0% from FY 2021). Net loss: UK£24.7m (loss narrowed 83% from FY 2021). Over the next year, revenue is forecast to grow 3.1%, compared to a 132% growth forecast for the airlines industry in Germany. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 59% per year, which means it is significantly lagging earnings. Buying Opportunity • May 21
Now 26% undervalued after recent price drop Over the last 90 days, the stock is down 32%. The fair value is estimated to be €0.13, however this is not to be taken as a buy recommendation but rather should be used as a guide only. For the next 3 years, revenue is forecast to grow by 10% per annum. Earnings is also forecast to grow by 17% per annum over the same time period. Anuncio • May 18
Esken Limited to Report Fiscal Year 2022 Results on May 25, 2022 Esken Limited announced that they will report fiscal year 2022 results on May 25, 2022 Reported Earnings • Nov 06
First half 2022 earnings released: UK£0.006 loss per share (vs UK£0.033 loss in 1H 2021) The company reported a solid first half result with reduced losses, improved revenues and improved control over expenses. First half 2022 results: Revenue: UK£51.7m (up 7.7% from 1H 2021). Net loss: UK£3.53m (loss narrowed 77% from 1H 2021). Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has fallen by 60% per year, which means it is performing significantly worse than earnings. Anuncio • Aug 18
Esken Limited has completed a Follow-on Equity Offering in the amount of £54.459314 million. Esken Limited has completed a Follow-on Equity Offering in the amount of £54.459314 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 388,995,097
Price\Range: £0.14
Transaction Features: Regulation S; Rights Offering; Subsequent Direct Listing Reported Earnings • Jul 02
Full year 2021 earnings released: UK£0.27 loss per share (vs UK£0.41 loss in FY 2020) The company reported a soft full year result with weaker revenues and control over costs, although losses reduced. Full year 2021 results: Revenue: UK£110.7m (down 35% from FY 2020). Net loss: UK£143.3m (loss narrowed 4.2% from FY 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 34 percentage points per year, which is a significant difference in performance. Anuncio • Mar 19
Ettyl Reportedly Circles Stobart Air Another potential suitor has entered the fray to buy Aer Lingus Group DAC operator Stobart Air Unlimited Company, the Irish Independent has learned. Ettyl is understood to be circling the Dublin-based carrier. But it's pitted against other suitors for Stobart Air, including seasoned aviation executive Ian Woodley. Ettyl declined to comment when contacted. It's believed that if it was successful in its bid to buy Stobart Air, which is owned by Esken Limited (LSE:ESKN), Ettyl would retain the carrier's headquarters in Dublin and its key management team including Managing Director Andy Jolly. It's thought that Ettyl could be prepared to inject as much as €25 million into Stobart Air. In November 2020, businessman Conor McCarthy's Emerald Airlines was named the preferred bidder to operate the Aer Lingus Regional contract when the Stobart Air contract expires. Anuncio • Feb 24
Aviation Executive Reportedly in Talks to Acquire Stobart Air Ian Woodley is understood to be engaged in talks to buy Aer Lingus Group DAC Regional operator Stobart Air Unlimited Company. The Irish Independent understands that Andy Jolly, the Managing Director of Stobart Air, is also involved in the acquisition talks alongside Woodley. A UK-based boutique private equity house is thought to be lined up to provide financing for a deal. Esken Limited (LSE:ESKN) has pledged to have sold Stobart Air by the end of this week. Esken recently told the Irish Independent that its timetable for a divestment has not changed. The group declined to comment on February 22, 2021 in relation to talks with Ian Woodley. Ian Woodley could not be reached for comment. Esken had talks with potential suitors including Falko Regional Aircraft Limited. Anuncio • Feb 10
Esken Limited Announces Resignation of Warwick Brady as Chief Executive Officer Esken Limited announced that Warwick Brady has tendered his resignation as Chief Executive Officer. It has been agreed with the Board that Warwick will remain as Chief Executive of Esken until the end of June at the latest. Anuncio • Feb 09
Esken Limited Announces Appointment of David Shearer as Executive Chairman Esken Limited announced that David Shearer will assume the role of Executive Chairman on an interim basis with immediate effect. His initial priority will be to review Esken's strategic options as the Company navigates the continuing impact of the COVID-19 pandemic. As part of that exercise he will determine the leadership requirements for a new CEO to implement that strategy. Is New 90 Day High Low • Jan 09
New 90-day high: €0.27 The company is up 41% from its price of €0.19 on 09 October 2020. The German market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Airlines industry, which is up 32% over the same period. Anuncio • Nov 17
Stobart Group Still Remains in Talks to Sell Stobart Air Stobart Group Limited (LSE:STOB) said it remains in talks to sell its Irish arm Stobart Air Unlimited Company after losing out on a contract to operate the Aer Lingus Regional service. The UK group, which also operates Southend Airport, near London, also said it will not be on the hook for the bulk of $108 Million of guarantees the stock market-listed UK business has for the Irish unit. The company also said it had fully written down the value of Stobart Air in its most recent accounts. In a statement after news of the contract loss, Warwick Brady, Chief executive Officer of Stobart Group, said: "The group remains in positive discussions with a number of interested parties and continues to target an exit from Stobart Air before the end of the current financial year". The shake-out on the contract award means Dublin Aerospace boss Conor McCarthy's Emerald Airlines is now a potential buyer for the Dublin based Stobart Air unit. Emerald is a new company without planes or staff to operate the service. On November 14, 2020 McCarthy confirmed he is now in exclusive negotiations with Aer Lingus to operate the Aer Lingus Regional service from 2023. It's thought likely he'll run the rule over Dublin-based Stobart Air, which Stobart Group has confirmed it is seeking to exit. "Emerald Airlines looks forward to these negotiations in coming weeks with a view to concluding a binding contract and progressing our ambitious plan to roll out a fleet of 15-plus ATR-72 Aer Lingus-branded aircraft from Dublin, Belfast, Cork and Shannon," said Mr. McCarthy. However, Stobart Group Chief Executive Officer Brady said it will "enter negotiations with the new Aer Lingus franchisee given the anticipated interest" in Stobart Air's assets including its slot portfolio. "The decision to not make Stobart Air its preferred supplier for a new commercial agreement does not alter the group's intention to exit Stobart Air and Propius as soon as is practicable," said Stobart Group. Propius is a related aircraft leasing company. Anuncio • Nov 03
Stobart Group Limited Appoints David Blackwood as Senior Independent Director Stobart Group Limited announced the appointment of David Blackwood as Senior Independent Director with effect from November 1, 2020. David joined the Board as Non-Executive Director on March 1, 2019. He became Chair of the Audit Committee on July 23, 2019 when former SID Andrew Wood stepped down from the Board at the conclusion of the 2019 AGM, as previously disclosed. David has extensive experience at senior levels of finance, audit and risk and has also acted as SID at Scapa Group plc and Dignity plc. David is currently Non-Executive Chairman of Connect Group plc, the market leader in the distribution of newspapers and magazines in the UK. The Company announced on 4 June 2020 that it would resume the process to recruit two additional Non-Executive Directors and address the appointment of SID. Further to that announcement, Clive Condie was appointed with effect from 1 July 2020. However, as the COVID-19 pandemic has evolved in the last few months the Board has decided to pause the recruitment of a second Non-Executive Director. Anuncio • Oct 10
Stobart Air Sale Talks Up in the Air After Tender Move Talks between CityJet owner Falko and Stobart Group Limited (LSE:STOB) to acquire Stobart Air Unlimited Company are facing an impasse after Aer Lingus put the contract for the regional service out to tender recently, it's understood. Some sources suggested that talks between the two sides have all but collapsed, citing undertakings sought as part of a sale in relation to Stobart Group's $100m in liabilities attached to Dublin-based Stobart Air, and other factors. However, others stressed that the negotiations have still not reached a stage where an offer has been tabled, and insisted that they have not broken down. Anuncio • Sep 22
Stobart Group Confirms Talks to Sell Stobart Air Stobart Group Limited (LSE:STOB) Stobart Group has confirmed it is considering selling its Stobart Air (RE, Dublin Int'l) and that it is in talks with "a number" of interested parties. Is New 90 Day High Low • Sep 22
New 90-day low: €0.21 The company is down 53% from its price of €0.44 on 24 June 2020. The German market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Airlines industry, which is down 16% over the same period. Anuncio • Jul 31
Stobart Group Limited (LSE:STOB) entered into an agreement to acquire 78.75% stake in Propius Holdings Limited and Stobart Air Unlimited Company from Connect Airways Limited for £8.55 million. Stobart Group Limited (LSE:STOB) entered into an agreement to acquire 78.75% stake in Propius Holdings Limited and Stobart Air Unlimited Company from Connect Airways Limited for £8.55 million on April 27, 2020. As per terms of transaction, £0.3 million is payable in cash at completion, £2 million will paid as part of deferred consideration not later than December 15, 2020 and £6.25 million based on the equity value achieved (after disposal costs) on a realization of value in respect of one or both of the businesses by Stobart Group prior to December 31, 2023. As on August 31, 2019, Propius Holdings Limited and Stobart Air reported total assets of £91.2 million.
Stobart Group Limited (LSE:STOB) completed the acquisition of 78.75% stake in Propius Holdings Limited and Stobart Air Unlimited Company from Connect Airways Limited on April 27, 2020. Anuncio • Jul 18
Stobart Group Limited Auditor Raises 'Going Concern' Doubt Stobart Group Limited filed its Annual on Jun 04, 2020 for the period ending Feb 29, 2020. In this report its auditor, KPMG LLP - Klynveld Peat Marwick Goerdeler, gave an unqualified opinion expressing doubt that the company can continue as a going concern.