Tillkännagivande • Nov 03
Blancco Technology Anticipates Cancellation of Admission to Trading of its Shares on AIM on 17 November 2023 On 2 August 2023, the boards of WHITE BIDCO LIMITED (Bidco) and Blancco Technology Group plc (Blancco) announced the terms of a recommended all cash offer (the ‘Offer’) to be made by Bidco for the entire issued and to be issued share capital of Blancco (other than any Blancco Shares already held by Bidco) at a price of 223 pence for each Blancco Share, to be implemented by way of a takeover offer within the meaning of Chapter 3 of Part 28 of the Companies Act (the ‘Act’). The full terms of, and conditions to, the Offer and the procedures for acceptance are set out in the offer document, which was posted to Blancco Shareholders on 8 August 2023 (the ‘Offer Document’). Bidco announced that the Offer will close for acceptance at 5:00 p.m. (London time) on 16 November 2023. As announced on 19 October 2023, the anticipated date of the cancellation of the admission to trading of Blancco Shares on AIM (the ‘Cancellation’) is expected to become effective on 17 November 2023. Tillkännagivande • Oct 19
White Bidco Intends to Procure Blancco Technology Make an Application to LSE for Cancellation of Admission to Trading of Blancco Shares on AIM On 2 August 2023, White Bidco Limited (Bidco) and Blancco Technology Group plc (Blancco) announced that they had reached agreement on the terms of a recommended all-cash offer for the entire issued and to be issued ordinary share capital of Blancco at a price of 223 pence per share (the "Offer") to be implemented by way of a takeover offer within the meaning of Part 28 of the Companies Act. The offer document setting out the full terms of, and Conditions to, the Offer (the "Offer Document") was published and sent to Blancco Shareholders on 8 August 2023. On 16 October 2023, the board of Bidco announced that, in accordance with paragraph 1 of Part A of Appendix I in the Offer Document, it is waiving down the percentage of Blancco Shares required to satisfy the Acceptance Condition from Blancco Shares carrying not less than 75% of the voting rights then normally exercisable at a general meeting of Blancco, to Blancco Shares carrying not less than 65.71% of the voting rights then normally exercisable at a general meeting of Blancco (the "New Amended Acceptance Condition"). Bidco intends to procure that Blancco make an application to the London Stock Exchange (LSE) for the cancellation of the admission to trading of Blancco Shares on AIM (the "Cancellation"). The cancellation of trading in Blancco Shares on AIM will significantly reduce the liquidity and marketability of any Blancco Share. Buying Opportunity • Sep 29
Now 20% undervalued Over the last 90 days, the stock is up 42%. The fair value is estimated to be UK£2.80, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has grown by 82%. For the next 3 years, revenue is forecast to grow by 9.0% per annum. Earnings is also forecast to grow by 19% per annum over the same time period. Valuation Update With 7 Day Price Move • Aug 04
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to UK£2.22, the stock trades at a forward P/E ratio of 44x. Average forward P/E is 31x in the Software industry in the United Kingdom. Total returns to shareholders of 20% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at UK£2.15 per share. New Risk • Aug 03
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 British stocks, typically moving 7.2% 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. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Jul 06
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to UK£1.83, the stock trades at a forward P/E ratio of 44x. Average forward P/E is 30x in the Software industry in the United Kingdom. Total loss to shareholders of 6.4% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at UK£2.14 per share. Tillkännagivande • Jul 04
Blancco Technology Group Provides Financial Guidance for the Year Ended 30 June 202 Blancco Technology Group provided financial guidance for the year ended 30 June 2023. The strong performance delivered in the first six months has continued, with Blancco benefitting from the enduring growth drivers of sustainability and governance. FY2023 revenue is now expected to be above market expectations and, due to the positive impact of operational gearing, operating profit is expected to be comfortably higher than current forecasts. Reported Earnings • Feb 22
First half 2023 earnings released First half 2023 results: Revenue: UK£24.0m (up 22% from 1H 2022). Net income: UK£2.23m (up 48% from 1H 2022). Profit margin: 9.3% (up from 7.6% in 1H 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.9% p.a. on average during the next 3 years, compared to a 9.0% growth forecast for the Software industry in the United Kingdom. Tillkännagivande • Feb 03
Blancco Technology Group plc to Report First Half, 2023 Results on Feb 21, 2023 Blancco Technology Group plc announced that they will report first half, 2023 results on Feb 21, 2023 Board Change • Feb 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. 4 experienced directors. 2 highly experienced directors. Independent Non-Executive Director Catherine Michel 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. Price Target Changed • Nov 16
Price target decreased to UK£2.99 Down from UK£3.27, the current price target is an average from 5 analysts. New target price is 69% above last closing price of UK£1.78. Stock is down 31% over the past year. The company is forecast to post earnings per share of UK£0.033 for next year compared to UK£0.027 last year. Reported Earnings • Oct 28
Full year 2022 earnings: EPS exceeds analyst expectations Full year 2022 results: EPS: UK£0.027 (up from UK£0.018 in FY 2021). Revenue: UK£39.8m (up 9.0% from FY 2021). Net income: UK£2.02m (up 48% from FY 2021). Profit margin: 5.1% (up from 3.7% in FY 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 103%. Revenue is forecast to grow 9.0% p.a. on average during the next 3 years, compared to a 9.0% growth forecast for the Software industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 106% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Reported Earnings • Sep 29
Full year 2022 earnings: EPS exceeds analyst expectations Full year 2022 results: EPS: UK£0.027 (up from UK£0.018 in FY 2021). Revenue: UK£39.8m (up 9.0% from FY 2021). Net income: UK£2.02m (up 48% from FY 2021). Profit margin: 5.1% (up from 3.7% in FY 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 103%. Revenue is forecast to grow 8.6% p.a. on average during the next 3 years, compared to a 9.2% growth forecast for the Software industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 106% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Jun 11
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 consensus EPS estimate fell from UK£0.01 to UK£0.01. Revenue forecast reaffirmed at UK£40.0m. Net income forecast to shrink 39% next year vs 10% decline forecast for Software industry in the United Kingdom. Consensus price target broadly unchanged at UK£3.27. Share price was steady at UK£2.06 over the past week. Reported Earnings • Feb 24
First half 2022 earnings: EPS exceeds analyst expectations while revenues lag behind First half 2022 results: EPS: UK£0.02 (up from UK£0.01 in 1H 2021). Revenue: UK£19.7m (up 13% from 1H 2021). Net income: UK£1.51m (up 113% from 1H 2021). Profit margin: 7.6% (up from 4.1% in 1H 2021). Revenue missed analyst estimates by 1.1%. Earnings per share (EPS) exceeded analyst estimates by 784%. Over the next year, revenue is forecast to grow 7.2%, compared to a 29% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 89% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Price Target Changed • Jan 18
Price target increased to UK£3.34 Up from UK£3.09, the current price target is an average from 3 analysts. New target price is 44% above last closing price of UK£2.33. Stock is up 1.1% over the past year. The company is forecast to post earnings per share of UK£0.004 for next year compared to UK£0.018 last year. Recent Insider Transactions • Dec 16
CEO & Director recently sold UK£496k worth of stock On the 15th of December, Matthew Jones sold around 204k shares on-market at roughly UK£2.44 per share. This was the largest sale by an insider in the last 3 months. This was Matthew's only on-market trade for the last 12 months. Major Estimate Revision • Jun 10
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 forecast for profit of -UK£0.0025 instead of a loss of UK£0.0025 per share previously. Revenue forecast unchanged at UK£36.9m. Software industry in the United Kingdom expected to see average net income growth of 0.01% next year. Consensus price target up from UK£3.09 to UK£3.19. Share price rose 7.3% to UK£2.80 over the past week. Is New 90 Day High Low • Feb 24
New 90-day high: UK£2.74 The company is up 36% from its price of UK£2.02 on 26 November 2020. The British market is up 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is up 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is UK£0.19 per share. Major Estimate Revision • Feb 23
Analysts update estimates The company's losses in 2021 are expected to improve with analysts raising their consensus EPS forecasts from -UK£0.0065 to -UK£0.0025. No change was made to the revenue estimate which at the last update was UK£36.9m. The Software industry in the United Kingdom is expected to see a 4.1% decline in net income next year. The consensus price target increased from UK£2.70 to UK£2.90. Share price stayed mostly flat at UK£2.64 over the past week. Price Target Changed • Feb 18
Price target raised to UK£2.90 Up from UK£2.70, the current price target is an average from 3 analysts. The new target price is 10.0% above the current share price of UK£2.64. As of last close, the stock is up 21% over the past year. Reported Earnings • Feb 18
First half 2021 earnings released: EPS UK£0.01 (vs UK£0.009 in 1H 2020) The company reported a solid first half result with improved earnings and profit margins, although revenues were flat. First half 2021 results: Revenue: UK£17.4m (flat on 1H 2020). Net income: UK£708.0k (up 7.4% from 1H 2020). Profit margin: 4.1% (up from 3.8% in 1H 2020). Over the last 3 years on average, earnings per share has increased by 81% per year but the company’s share price has only increased by 58% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Feb 03
New 90-day high: UK£2.55 The company is up 34% from its price of UK£1.90 on 04 November 2020. The British market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is flat over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is UK£0.45 per share. Tillkännagivande • Jan 29
Blancco Technology Group Appoints Fredrik Forslund as Director of the International Data Sanitization Consortium Blancco Technology Group announced that Fredrik Forslund, vice president of enterprise cloud and data center erasure solutions at Blancco, has been appointed director of the International Data Sanitization Consortium (IDSC). Forslund will lead the Consortium in its mission to educate organizations and standards bodies about the
permanent eradication of data, clarifying industry terminology and guidelines to ensure compliance with data security, protection and privacy laws. Is New 90 Day High Low • Jan 18
New 90-day high: UK£2.34 The company is up 19% from its price of UK£1.97 on 20 October 2020. The British market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is down 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is UK£0.45 per share. Tillkännagivande • Jan 07
Blancco Technology Group plc to Report First Half, 2021 Results on Feb 16, 2021 Blancco Technology Group plc announced that they will report first half, 2021 results on Feb 16, 2021 Tillkännagivande • Nov 07
Blancco Technology Group plc, Annual General Meeting, Dec 15, 2020 Blancco Technology Group plc, Annual General Meeting, Dec 15, 2020, at 17:30 Coordinated Universal Time. Tillkännagivande • Jul 22
Blancco Technology Group plc to Report Fiscal Year 2020 Results on Sep 29, 2020 Blancco Technology Group plc announced that they will report fiscal year 2020 results on Sep 29, 2020