Wednesday, March 29, 2023

Ebusco share price more attractive, still too difficult pile







Ebusco bought 40% of Zero Emission Services  : Energy storage and zero carbon shipping. Considering the growth in negative electricity prices in NL this should make cents. 

March 2023. The company booked a EUR 30m loss in 2023. 

Sales and results should improve in the future. 

60 million shares @EUR 9,70 per share = EUR 580 market cap

Sales in 2022 EUR 111m could double (or more) in the next years. 

Conclusion: Too difficult pile.  At EUR 5 share price could be interesting. 
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Notes August 2022: 

60 million shares  @EUR 22,70 share price= EUR 1 362m market cap. 

Sales of EUR 120m this year 2022? 

Ebusco is growing quickly, although they had a Covid19 dip in 2021 due to orders not being placed in 2020 (and 2021). 

Based on current figures, not a Graham Defensive Stock. Maybe not expensive because of growth (in demand). 


Conclusion August 2022: Too difficult pile. 

December 2023 shares now at EUR 5 and more shares: 

The financing package consists of (i) a capital increase of up to EUR 25 million in a private placement of such shares by way of an accelerated bookbuild offering with a fixed price of EUR 5.00 per Offer Share (as defined below), and (ii) the signing of a binding agreement with an entity managed by Heights Capital Management, Inc., for an amortising convertible bond financing. Additionally, to further increase financial flexibility, the Company is in advanced and constructive discussions with a group of banks to extend and increase the existing guarantee and letter of credit facility  • The Company’s four largest shareholders are supportive of the transaction and have precommitted to participate in the accelerated bookbuild offering and to vote in favour of the required shareholder resolutions for the convertible bond at an extraordinary general meeting  

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