Market's view on Windar Photo
Published on April 2024
- David and Patricia Lis invested over £1 million in the company over a week, indicating significant confidence, prompting other shareholders to consider additional investments.
- The company successfully raised £4.4 million, surpassing the original £2 million target, with a broker estimating £12 million revenue and £3.5 million EBITDA for the year, suggesting a fair value share price of 61p.
- Two non-executive directors applied for £650,000 worth of shares, demonstrating strong confidence in the company’s prospects.
- The current year has started strongly with estimated revenue of approximately €5.9 million already surpassing the previous year’s total, indicating continued robust year-on-year growth.
- Concerns were raised about significant shareholders possibly selling shares due to the recent recovery in share prices, with speculation about potential reasons for these sales.
- A new €1.3 million order from China was confirmed, keeping the company on track for its 2024 targets, alongside an agency agreement in the US aimed at accelerating growth.
- A WHI note highlighted strong order book conversions and increased visibility for the company, boosting FY24E forecasts and adjusting the fair value to 58p.
- Paul Hodges, a Non-Executive Director, increased his shareholding significantly, which along with other director purchases, suggests strong insider confidence in the company’s future.
- The appointment of a senior independent director from a FTSE 100 company as chairman raised expectations for significant strategic improvements.