bullish
Windar Photonics - Continued strong growth in revenues
SUMMARY
H118 has started well with 33% y-o-y jump in revenues taking Windar close to EBITDA breakeven. The distribution agreement with Vestas announced in June should help drive sales to independent power providers (IPPs) globally. However, a shortage of key components in Q218 means the company has issued FY18 revenue guidance of €4.0–4.5m, which is significantly below our previous estimate. We revise our estimates and adjust our indicative valuation from 125p/share to 124p/share.
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Edison Investment Research
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- Windar Photonics - Continued strong growth in revenues01 Oct 2018
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