New Risk • May 26
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: AU$138.7m (US$99.4m) This is considered a minor 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 (-US$16m free cash flow). Earnings have declined by 22% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Shareholders have been diluted in the past year (25% increase in shares outstanding). Market cap is less than US$100m (AU$138.7m market cap, or US$99.4m). New Risk • Feb 26
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$16m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. 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 (-US$16m free cash flow). Share price has been highly volatile over the past 3 months (18% average weekly change). Earnings have declined by 22% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (25% increase in shares outstanding). Market cap is less than US$100m (AU$134.8m market cap, or US$95.9m). New Risk • Feb 18
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 Australian stocks, typically moving 17% 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 Share price has been highly volatile over the past 3 months (17% average weekly change). High level of non-cash earnings (53% accrual ratio). Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (25% increase in shares outstanding). Market cap is less than US$100m (AU$119.4m market cap, or US$84.4m). New Risk • Jan 22
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: AU$142.5m (US$97.0m) This is considered a minor 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 High level of non-cash earnings (53% accrual ratio). Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (15% average weekly change). Shareholders have been diluted in the past year (25% increase in shares outstanding). Market cap is less than US$100m (AU$142.5m market cap, or US$97.0m). New Risk • Jan 06
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 15% a week. This is considered a minor risk. Share price volatility indicates 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. It also 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. Currently, the following risks have been identified for the company: Major Risks High level of non-cash earnings (53% accrual ratio). Shareholders have been substantially diluted in the past year (41% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Share price has been volatile over the past 3 months (15% average weekly change). New Risk • Dec 07
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 41% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks High level of non-cash earnings (53% accrual ratio). Shareholders have been substantially diluted in the past year (41% increase in shares outstanding). Revenue is less than US$1m. Recent Insider Transactions • Nov 30
Independent Non-Executive Director recently bought AU$58k worth of stock On the 25th of November, John Phipps bought around 1m shares on-market at roughly AU$0.058 per share. This transaction amounted to 4.1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Announcement • Nov 04
Energy World Corporation Ltd has filed a Follow-on Equity Offering in the amount of AUD 0.038195 million. Energy World Corporation Ltd has filed a Follow-on Equity Offering in the amount of AUD 0.038195 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 763,901
Price\Range: AUD 0.05
Transaction Features: Subsequent Direct Listing Announcement • Oct 18
Energy World Corporation Ltd, Annual General Meeting, Nov 17, 2025 Energy World Corporation Ltd, Annual General Meeting, Nov 17, 2025. Location: at rsm australia, level 7, 1 martin place, sydney nsw 2000 Australia New Risk • Oct 04
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 16% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.2x net interest cover). High level of non-cash earnings (53% accrual ratio). Minor Risk Shareholders have been diluted in the past year (16% increase in shares outstanding). New Risk • Mar 01
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$23m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. 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 (-US$23m free cash flow). Share price has been highly volatile over the past 3 months (19% average weekly change). Earnings have declined by 87% per year over the past 5 years. Minor Risk Market cap is less than US$100m (AU$67.7m market cap, or US$42.0m). Board Change • Dec 11
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Non-Executive Director John Phipps was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Dec 04
Energy World Corporation Announces Director Appointments Energy World Corporation Ltd. announced that Mr. Sean Gardiner and Mr. Alan Jowell have been appointed as Non-Executive Directors effective December 4, 2024. Sean Gardiner is a Managing Director of Clermont Capital based in Singapore where he helps oversee and manage its investments. Prior to the Clermont Group, Sean spent 20 years at Morgan Stanley in equity research working in London, Dubai and Singapore across a number of senior roles. Sean completed his Chartered Accountancy articles in South Africa and he has a B.Com (PGDA) from the University of Cape Town. Alan Jowell is a highly experienced corporate finance professional with 25-year career spanning four continents. His expertise encompasses a broad range of industry sectors and transaction types, with a strong focus on smaller growth companies, emerging markets and turnaround opportunities. Alan holds a Bachelor of Commerce degree from the University of Witwatersrand, an MBA from London Business School, and is a certified member of the Australian Institute of Company Directors (GAICD). Announcement • Nov 28
Energy World Corporation Ltd Announces Retirement of Kin Pok Wong as Non-Executive Director Energy World Corporation Ltd. announced that in view of the termination of the Slipform EPC agreements previously announced, shareholders are advised that, Mr. Kin Pok Wong has elected to submit notice to the Company that he will retire as a Non-Executive Director effective 28 November 2024. Mr. Kin Pok Wong will however continue to work with Energy World Corporation (EWC) in an executive capacity of Project Director to coordinate the existing Engineering, Procurement and Contracting (EPC) site activities in both Indonesia and Philippines. Announcement • Oct 29
Energy World Corporation Ltd, Annual General Meeting, Nov 28, 2024 Energy World Corporation Ltd, Annual General Meeting, Nov 28, 2024. Location: at royal automobile club, isc room, 89 macquarie street, sydney nsw 2000 Australia Announcement • Oct 25
PT EMP Energi Jaya completed the acquisition of 51% stake in Energy Equity Epic (Sengkang) Pty., Ltd. from Energy World Corporation Ltd (ASX:EWC). PT EMP Energi Jaya entered into a share purchase agreement to acquire 51% stake in Energy Equity Epic (Sengkang) Pty., Ltd. from Energy World Corporation Ltd (ASX:EWC) for $35 million on October 10, 2024. A cash consideration of $35 million will be paid by PT EMP Energi Jaya. As part of consideration, $35 million is paid towards common equity of Energy Equity Epic (Sengkang) Pty., Ltd.
The expected completion of the transaction is October 31, 2024.
PT EMP Energi Jaya completed the acquisition of 51% stake in Energy Equity Epic (Sengkang) Pty., Ltd. from Energy World Corporation Ltd (ASX:EWC) on October 25, 2024. Announcement • Oct 11
PT EMP Energi Jaya entered into a share purchase agreement to acquire 51% stake in Energy Equity Epic (Sengkang) Pty., Ltd. from Energy World Corporation Ltd (ASX:EWC) for $35 million. PT EMP Energi Jaya entered into a share purchase agreement to acquire 51% stake in Energy Equity Epic (Sengkang) Pty., Ltd. from Energy World Corporation Ltd (ASX:EWC) for $35 million on October 10, 2024. A cash consideration of $35 million will be paid by PT EMP Energi Jaya. As part of consideration, $35 million is paid towards common equity of Energy Equity Epic (Sengkang) Pty., Ltd.
The expected completion of the transaction is October 31, 2024. Reported Earnings • Oct 04
Full year 2024 earnings released: US$0.26 loss per share (vs US$0.018 loss in FY 2023) Full year 2024 results: US$0.26 loss per share (further deteriorated from US$0.018 loss in FY 2023). Revenue: US$24.8m (down 29% from FY 2023). Net loss: US$801.5m (loss widened US$751.0m from FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 87 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 31
Full year 2024 earnings released: US$0.016 loss per share (vs US$0.018 loss in FY 2023) Full year 2024 results: US$0.016 loss per share (improved from US$0.018 loss in FY 2023). Revenue: US$24.8m (down 29% from FY 2023). Net loss: US$50.5m (flat on FY 2023). Over the last 3 years on average, earnings per share has fallen by 60% per year but the company’s share price has only fallen by 43% per year, which means it has not declined as severely as earnings. Announcement • Aug 29
Energy World Corporation Ltd Announces Change of Company Secretary, Effective September 1, 2024 Energy World Corporation Ltd. announced that Ms Natalie Climo has been appointed Company Secretary of the Company and that Mr. Graham Elliott has resigned as Company Secretary effective 1st September 2024. Announcement • Jul 26
Energy World Corporation Ltd CEO Changes Energy World Corporation Ltd. announced that its CEO, Stewart Elliott, passed away suddenly on 24 July 2024. Stewart has a long and distinguished career and was instrumental in the development of significant infrastructure projects in Asia for more than the past 40 years. The Board has appointed Brian Allen to the role of acting CEO, effective immediately. EWC will be undertaking a review of its executive management and board structure and representation with a view to be delivering an update to shareholders on or before the Annual General Meeting to be held in late October or November. Announcement • Jul 25
Energy World Corporation Ltd Announces Board Changes Energy World Corporation Ltd. announced that its Chairperson, Stewart Elliott, passed away suddenly on 24 July 2024. Stewart has a long and distinguished career and was instrumental in the development of significant infrastructure projects in Asia for more than the past 40 years. The Board has appointed Brian Allen to the role of interim Chairperson, effective immediately. EWC will be undertaking a review of its executive management and board structure and representation with a view to be delivering an update to shareholders on or before the Annual General Meeting to be held in late October or November. Reported Earnings • Mar 05
First half 2024 earnings released: US$0.003 loss per share (vs US$0.022 loss in 1H 2023) First half 2024 results: US$0.003 loss per share (improved from US$0.022 loss in 1H 2023). Revenue: US$17.3m (down 38% from 1H 2023). Net loss: US$8.83m (loss narrowed 85% from 1H 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 45 percentage points per year, which is a significant difference in performance. Announcement • Oct 17
Energy World Corporation Ltd, Annual General Meeting, Nov 24, 2023 Energy World Corporation Ltd, Annual General Meeting, Nov 24, 2023, at 11:01 AUS Eastern Standard Time. Location: at Computershare, Level 3, 60 Carrington Street Sydney New South Wales Australia Agenda: To receive and consider the Directors' report, the balance sheet, profit and loss account and cashflow statement for the year ended 30 June 2023 and the auditor's report on the accounts of the Company; to consider Mr. Leslie James Charles, an Independent Non-Executive Director ; to consider the Mr. Graham Stewart Elliott, an Executive Director; to consider and appoint RSM/RSM Australia Partners as the company's auditor to replace Ernst & Young who will resign at this meeting. RSM/RSM Australia Partners having been nominated for appointment, has consented to act as auditor; and to consider other matter also. Reported Earnings • Oct 05
Full year 2023 earnings released: US$0.018 loss per share (vs US$0.003 profit in FY 2022) Full year 2023 results: US$0.018 loss per share (down from US$0.003 profit in FY 2022). Revenue: US$34.9m (down 76% from FY 2022). Net loss: US$50.5m (down US$59.4m from profit in FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 102 percentage points per year, which is a significant difference in performance. Announcement • Aug 01
Energy World Corporation Ltd to Report Fiscal Year 2023 Results on Sep 30, 2023 Energy World Corporation Ltd announced that they will report fiscal year 2023 results on Sep 30, 2023 Announcement • May 25
PT PLN Nusantara Power acquired 315MW Sengkang Power Plant from Energy World Corporation Ltd (ASX:EWC). PT PLN Nusantara Power acquired 315MW Sengkang Power Plant from Energy World Corporation Ltd (ASX:EWC) on May 21, 2023.
PT PLN Nusantara Power completed the acquisition of 315MW Sengkang Power Plant from Energy World Corporation Ltd (ASX:EWC) on May 21, 2023. Announcement • May 06
Energy World Corporation Ltd Announces Resignation of Sean Gardiner from the from the Board of Directors Energy World Corporation Ltd. announced that Mr. Sean Gardiner on 2 May 2023 resigning from the board of directors. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Non-Executive Director John Phipps was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 04
Full year 2022 earnings released: EPS: US$0.003 (vs US$0 in FY 2021) Full year 2022 results: EPS: US$0.003 (up from US$0 in FY 2021). Revenue: US$146.0m (down 2.3% from FY 2021). Net income: US$8.91m (up US$8.38m from FY 2021). Profit margin: 6.1% (up from 0.4% in FY 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 74 percentage points per year, which is a significant difference in performance. Reported Earnings • Sep 01
Full year 2022 earnings released: EPS: US$0.007 (vs US$0 in FY 2021) Full year 2022 results: EPS: US$0.007 (up from US$0 in FY 2021). Revenue: US$146.0m (down 2.3% from FY 2021). Net income: US$17.0m (up US$16.4m from FY 2021). Profit margin: 12% (up from 0.4% in FY 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 67 percentage points per year, which is a significant difference in performance. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Non-Executive Director John Phipps was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Mar 10
Energy World Corporation Ltd Appoints Sean Gardiner as Non-Executive Director Energy World Corporation Ltd. announced that Mr. Sean Gardiner has been appointed as non-executive director of the company. Sean is managing director of Clermont Capital. Date of appointment is 8 March 2022. Board Change • Mar 10
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Non-Executive Director John Phipps was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 02
First half 2022 earnings: Revenues exceed analysts expectations while EPS lags behind First half 2022 results: EPS: US$0.003 (down from US$0.005 in 1H 2021). Revenue: US$73.5m (flat on 1H 2021). Net income: US$7.42m (down 22% from 1H 2021). Profit margin: 10% (down from 13% in 1H 2021). Revenue exceeded analyst estimates by 27%. Earnings per share (EPS) missed analyst estimates by 54%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 60 percentage points per year, which is a significant difference in performance. Reported Earnings • Sep 01
Full year 2021 earnings released: EPS US$0.007 (vs US$0.006 in FY 2020) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2021 results: Revenue: US$155.3m (down 2.5% from FY 2020). Net income: US$45.2m (up 290% from FY 2020). Profit margin: 29% (up from 7.3% in FY 2020). Over the last 3 years on average, earnings per share has fallen by 20% per year whereas the company’s share price has fallen by 23% per year. Reported Earnings • Mar 05
First half 2021 earnings released: EPS US$0.005 (vs US$0.006 in 1H 2020) The company reported a poor first half result with weaker earnings and revenues, although profit margins were flat. First half 2021 results: Revenue: US$72.9m (down 16% from 1H 2020). Net income: US$9.47m (down 17% from 1H 2020). Profit margin: 13% (in line with 1H 2020). Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has fallen by 35% per year, which means it is performing significantly worse than earnings. Announcement • Oct 03
Energy World Corporation Ltd Auditor Raises 'Going Concern' Doubt Energy World Corporation Ltd filed its Annual on Sep 30, 2020 for the period ending Jun 30, 2020. In this report its auditor, Ernst & Young LLP, gave a qualified opinion expressing doubt that the company can continue as a going concern. Reported Earnings • Oct 02
Full year earnings released - EPS AU$0.0065 Over the last 12 months the company has reported total profits of US$11.6m, down 59% from the prior year. Total revenue was US$159.2m over the last 12 months, up 6.7% from the prior year. Profit margins were 7.3%, which is lower than the 19% margin from last year. The decrease in margin was driven by higher expenses. Announcement • Jun 22
Energy World Corporation Ltd(ASX:EWC) dropped from S&P/ASX All Ordinaries Index Energy World Corporation Ltd(ASX:EWC) dropped from S&P/ASX All Ordinaries Index