Board Change • Jun 08
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. 3 experienced directors. 1 highly experienced director. Group CFO & Executive Director Simon Hirst was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • May 20
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. 3 experienced directors. 1 highly experienced director. Group CFO & Executive Director Simon Hirst was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Jan 19
Ampeak Energy Limited Receives Section 36 Consent for the Company's Mey BESS Battery Storage Project in the North of Scotland Ampeak Energy announced that it has received notification from the Energy Consents Unit that Scottish Ministers have granted Section 36 consent for the Company's Mey BESS battery storage project in the North of Scotland (the "Mey BESS Project"). The Consent permits the development of a battery energy storage facility with an installed capacity of up to 300MW/1,200MWh, comprising containerised battery units and ancillary infrastructure. The Consent is subject to standard conditions and is accompanied by deemed planning permission under Section 57(2) of the Town and Country Planning (Scotland) Act 1997. Ampeak Energy is working towards achieving financial close on the Mey BESS Project in 2027/2028, with an operational date targeted for end of 2029, in line with the current grid connection programme. The Company will leverage its expertise, learnings and relationships gained from financially closing and building the 240MWh AW1 project at Uskmouth into delivering the Mey BESS Project. The Mey BESS Project, along with Ampeak Energy's battery projects at Uskmouth, Wales, represents a portfolio of 2.93 GWh of consented battery storage projects. Board Change • Dec 30
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. 3 experienced directors. 1 highly experienced director. Group CFO & Executive Director Simon Hirst was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Jun 30
SIMEC Atlantis Energy Limited, Annual General Meeting, Jul 31, 2025 SIMEC Atlantis Energy Limited, Annual General Meeting, Jul 31, 2025. Reported Earnings • Sep 27
First half 2024 earnings released: UK£0.007 loss per share (vs UK£0.007 profit in 1H 2023) First half 2024 results: UK£0.007 loss per share (down from UK£0.007 profit in 1H 2023). Revenue: UK£12.1m (down 6.6% from 1H 2023). Net loss: UK£5.42m (down 204% from profit in 1H 2023). Revenue is forecast to grow 27% p.a. on average during the next 3 years, compared to a 7.3% growth forecast for the Electrical industry in Germany. Over the last 3 years on average, earnings per share has increased by 100% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. New Risk • Jul 01
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 79% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (17% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (47% average weekly change). Earnings are forecast to decline by an average of 79% per year for the foreseeable future. High level of non-cash earnings (22% accrual ratio). Minor Risk Market cap is less than US$100m (€18.3m market cap, or US$19.7m). New Risk • Jun 27
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 22% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (17% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (44% average weekly change). High level of non-cash earnings (22% accrual ratio). Minor Risk Market cap is less than US$100m (€17.1m market cap, or US$18.3m). Reported Earnings • Jun 27
Full year 2023 earnings released: EPS: UK£0.035 (vs UK£0.013 loss in FY 2022) Full year 2023 results: EPS: UK£0.035 (up from UK£0.013 loss in FY 2022). Revenue: UK£43.5m (up UK£37.4m from FY 2022). Net income: UK£25.4m (up UK£35.0m from FY 2022). Profit margin: 58% (up from net loss in FY 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has fallen by 40% per year, which means it is significantly lagging earnings. Announcement • Jun 26
SIMEC Atlantis Energy Limited, Annual General Meeting, Jul 18, 2024 SIMEC Atlantis Energy Limited, Annual General Meeting, Jul 18, 2024. Location: the offices of ashurst llp, london fruit and wool exchange, 1 duval square, e1 6pw, london United Kingdom New Risk • Apr 14
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.5x net interest cover). Share price has been highly volatile over the past 3 months (36% average weekly change). Market cap is less than US$10m (€7.61m market cap, or US$8.10m). Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Large one-off items impacting financial results. New Risk • Feb 05
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: €9.29m (US$10.00m) 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 Interest payments are not well covered by earnings (1.5x net interest cover). Share price has been highly volatile over the past 3 months (33% average weekly change). Market cap is less than US$10m (€9.29m market cap, or US$10.00m). Minor Risk Large one-off items impacting financial results. Board Change • Nov 03
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Group CFO & Executive Director Simon Hirst was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Jul 26
SIMEC Atlantis Energy Limited, Annual General Meeting, Aug 11, 2023 SIMEC Atlantis Energy Limited, Annual General Meeting, Aug 11, 2023, at 10:00 Coordinated Universal Time. Announcement • Jul 06
SIMEC Atlantis Energy Limited Announces the Successful Deployment of 'Turbine 2' At the MeyGen Site SIMEC Atlantis Energy Limited announced the successful deployment of 'Turbine 2' at the MeyGen site. The turbine has undergone significant upgrades to improve performance and reliability. One of the major steps was to convert the turbine to use a wet-mate connection system. This dramatically reduces costs and time for future maintenance work. This innovation has been a key development in ensuring the next phase of turbines deployed at the MeyGen site are the most advanced and deliver the best performance in the industry. This innovation wouldn't have been possible without the support of the EU-funded, Tidal Stream Industry Energiser Project, known as TIGER. As a demonstrator project, the lessons learnt, improvements and inovations are key to unlocking commercial and scalable projects. With this in mind, SAE has made the decision to bring forward the reshoring of 'Turbine 4' to allow for preventative maintenance and upgrade work. This will also continue to allow SAE to drive the improvements, learning and data needed to unlock the next phase of turbines at the MeyGen site. Board Change • Jun 15
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Group CFO & Executive Director Simon Hirst was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • May 17
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Group CFO & Executive Director Simon Hirst was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Apr 05
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Group CFO & Executive Director Simon Hirst was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Feb 22
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Group CFO & Executive Director Simon Hirst was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Feb 03
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Group CFO & Executive Director Simon Hirst was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Dec 28
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Group CFO & Executive Director Simon Hirst was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Dec 07
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Group CFO & Executive Director Simon Hirst was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Nov 19
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Group CFO & Executive Director Simon Hirst was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 01
First half 2022 earnings released: UK£0.01 loss per share (vs UK£0.021 loss in 1H 2021) First half 2022 results: UK£0.01 loss per share (improved from UK£0.021 loss in 1H 2021). Net loss: UK£7.86m (loss narrowed 28% from 1H 2021). Board Change • Sep 23
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Group CFO & Executive Director Simon Hirst was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Jul 08
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Group CFO & Executive Director Simon Hirst was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Jun 10
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Group CFO & Executive Director Simon Hirst was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Group CFO & Executive Director Andrew Charters was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Apr 09
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Group CFO & Executive Director Andrew Charters was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Mar 10
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Group CFO & Executive Director Andrew Charters was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Feb 24
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Group CFO & Executive Director Andrew Charters was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Nov 06
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Non-Executive Chairman Duncan Stuart Black was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 01
First half 2021 earnings released: UK£0.021 loss per share (vs UK£0.014 loss in 1H 2020) The company reported a poor first half result with increased losses, weaker revenues and weaker control over costs. First half 2021 results: Revenue: UK£5.90m (down 27% from 1H 2020). Net loss: UK£10.9m (loss widened 86% from 1H 2020). Board Change • Sep 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 6 non-independent directors. Non-Executive Chairman Duncan Stuart Black was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Executive Departure • Aug 25
Independent Non-Executive Chairman John Neill has left the company On the 18th of August, John Neill's tenure as Independent Non-Executive Chairman ended after 7.7 years in the role. We don't have any record of a personal shareholding under John's name. A total of 3 executives have left over the last 12 months. The current median tenure of the management team is 1.42 years, which is considered inexperienced in the Simply Wall St Risk Model. 
