Announcement • 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: UK£4.46m (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 (27% average weekly change). Negative equity (-UK£19m). Market cap is less than US$10m (UK£4.46m market cap, or US$5.66m). New Risk • Dec 04
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 British stocks, typically moving 12% 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£29m free cash flow). Share price has been highly volatile over the past 3 months (12% 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 (UK£16.8m market cap, or US$21.3m). 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 57% 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). 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). Share price has been volatile over the past 3 months (9.5% average weekly change). Market cap is less than US$100m (UK£20.0m market cap, or US$25.3m). Announcement • 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 Announcement • 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: Revenues exceed analysts expectations while EPS lags behind 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 exceeded analyst estimates by 2.2%. Earnings per share (EPS) missed analyst estimates by 22%. 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 49% per year, which means it is significantly lagging earnings. Announcement • 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 22
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 British stocks, typically moving 12% 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 (12% average weekly change). Earnings have declined by 14% per year over the past 5 years. Minor Risk Market cap is less than US$100m (UK£27.6m market cap, or US$35.1m). Reported Earnings • Jun 22
Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind 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 exceeded analyst estimates by 2.2%. Earnings per share (EPS) missed analyst estimates by 22%. 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. Announcement • Jun 19
Esken Limited(LSE:ESKN) dropped from FTSE All-Share Index (GBP) Esken Limited(LSE:ESKN) dropped from FTSE All-Share Index (GBP) Announcement • 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 Price Target Changed • Nov 16
Price target decreased to UK£0.17 Down from UK£0.23, the current price target is an average from 2 analysts. New target price is 210% above last closing price of UK£0.057. Stock is down 59% over the past year. The company is forecast to post a net loss per share of UK£0.028 next year compared to a net loss per share of UK£0.03 last year. 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. Price Target Changed • Aug 31
Price target decreased to UK£0.17 Down from UK£0.24, the current price target is an average from 3 analysts. New target price is 235% above last closing price of UK£0.052. Stock is down 61% over the past year. The company is forecast to post a net loss per share of UK£0.028 next year compared to a net loss per share of UK£0.03 last year. 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. Major Estimate Revision • Jun 01
Consensus forecasts updated The consensus outlook for 2023 has been updated. 2023 revenue forecast fell from UK£124.4m to UK£110.9m. EPS estimate reaffirmed at -UK£0.03 per share. Airlines industry in the United Kingdom expected to see average net income growth of 21% next year. Consensus price target down from UK£0.24 to UK£0.23. Share price rose 13% to UK£0.095 over the past week. Reported Earnings • May 26
Full year 2022 earnings: EPS exceeds analyst expectations while revenues lag behind 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). Revenue missed analyst estimates by 3.2%. Earnings per share (EPS) exceeded analyst estimates by 31%. Over the next year, revenue is forecast to grow 3.1%, compared to a 132% growth forecast for the airlines industry in the United Kingdom. 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 16
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 31%. The fair value is estimated to be UK£0.11, 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. Price Target Changed • Apr 27
Price target decreased to UK£0.27 Down from UK£1.03, the current price target is an average from 3 analysts. New target price is 168% above last closing price of UK£0.099. Stock is down 73% over the past year. The company is forecast to post a net loss per share of UK£0.047 next year compared to a net loss per share of UK£0.27 last year. 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 59% per year, which means it is performing significantly worse than earnings. 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. Is New 90 Day High Low • Jan 07
New 90-day high: UK£0.28 The company is up 19% from its price of UK£0.24 on 09 October 2020. The British market is up 14% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Airlines industry, which is up 46% over the same period. Price Target Changed • Oct 16
Price target raised to UK£1.52 Up from UK£1.03, the current price target is provided by 1 analyst. The new target price is 671% above the current share price of UK£0.20. As of last close, the stock is down 84% over the past year. Price Target Changed • Sep 29
Price target lowered to UK£0.94 Down from UK£1.04, the current price target is provided by 1 analyst. The new target price is 377% above the current share price of UK£0.20. As of last close, the stock is down 84% over the past year.