SulNOx Group Plc

AQSE Growth Market -

Since inception in 2013, the SulNOx Group has developed patent pending proprietary technology that now applies to over 70% of every barrel of oil. The market size for the company's products is now over 11 billion litres of petrol, diesel & heavy fuel oil each and every day.

SulNOx aims to become “the energy transition environmental stock” that immediately delivers on the aspirations of global corporations and politicians to move to “net zero emissions by 2050”. The SulNOxEco™ Fuel Conditioner is proven and already delivering value for our clients

  • SulNOx technologies’ unique mechanism of action through oxygenation and emulsification of hydrocarbon fuels result in significant prevention of emissions (COx, NOx, SOx and Particulate Matter) before they are created.
  • Our conditioners are simply poured into fuel tanks in low volumes and significantly reduce fuel and maintenance costs by improving combustion and lubricity.
  • SulNOx not only scavenges to deal with the problem of ubiquitous free-water in fuel (universally viewed as a problematic and costly contaminant), but it also uses any free-water to an advantage by emulsifying it with the fuel.
  • The addition of SulnoxEco™ Fuel Conditioners has been certified by the world renowned Bureau Veritas, not to take either diesel or petrol out of their regulatory bands.
  • Any diesel or petrol engine in the world can therefore use The SulNOxEco™ Fuel Conditioner, without affecting engine warranties.
  • SulNOx delivers long-term stability meaning fuel emulsions can be premixed and stored in tanks and bunkers.
  • All the SulNOx products are made under licence by Nouryon, a multinational speciality chemical company with ability to produce bulk quantities globally with short lead times.

The adoption of SulNOx’s technology can make a real contribution to air quality, the climate change debate and save users money at the same time.

Symbol Ccy Code Bid Ask Share Price (Mid) Previous Close Volume Last Traded
SNOX GBX 16 18 17 17 80000 17.06.22

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Key Information

  
Market Cap: £16,002,583
ISIN:GB00BJVQQP66
Par:0.02
Inst Type:Ordinaries
Symbol:SNOX
MIFID Status:MTF
Tradable securities in issue:94,132,843
Sector:Chemicals
% daily price change:0.00%

Latest Trades

Date & Time Volume Price
17.06.22  |  12:09:505000013.5
17.06.22  |  11:27:153000016.3
10.06.22  |  15:15:071234516.2
09.06.22  |  08:04:52301816.3
07.06.22  |  16:19:42250017
07.06.22  |  16:19:23250017
07.06.22  |  16:10:491500018
07.06.22  |  16:10:4625000014.1
07.06.22  |  15:45:101000018
07.06.22  |  08:17:391000017.36

Financial Information

Performance

Earnings per share of -0.96p for 03/2021 has declined from -0.66p in 03/2019 or 45% over the period. Looking at this trend over the last 3 reported periods earnings are showing a decline.

Earnings per share   % growth (1)
   
 03/2019231%
 03/2020-56%
   
Average over 3 periods+21%
Strength in EPS trend ±
Low
High

(1) % growth is year on year % change in EPS.

Basic earnings per share are earnings from continuing and discontinued operations that are attributable to current equity holders.

Business Insight

Costs to Revenues ratio of 48.2 in 03/2021 has declined from 0 in 03/2019. Operating costs over the period have increased at a faster pace than the Revenues have increased.

Cost to Revenue ratio (2)   Multiple to Revenue
   
 06/20180.0x
 03/201942.6x
 03/202048.2x
   
Average multiple over 3 periods+53.4x
Strength of cost to revenue relationship ±
Low
High

(2) Costs include selling and admin, depreciation, amortisation and other operating costs.

Valuation

Financial Metric
Price multiple to metric
Relationship strength between metric and share price ±
  
EBITDA-79.8x
EBIT-42.4x
NI-44.1x
FCF-128.6x
DPS-
Assets4.3x
CE4.4x

The Relationship Strength is statistical measure of how close the data is to a line of best-fit line between share price and the metric shown. It is scaled between zero (no relationship) and 5 (strong relationship).

In this case Total Assets has the strongest relationship to share price, with the company's Market Capital value at 4.3x Total Assets.

+ In cases of change in accounting period length, the average is for the last 3 periods. In all cases, it is dependent on published available data and may be for periods shorter than 3 years

± The ‘Strength’ bar shows the strength of the statistical linear relationship of the metrics shown in the chart over the last three periods of data.

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All data provided by Fregnan.

Click here to download a glossary of terms.

All data provided by Fregnan.

Last results date:     31.03.21
Enterprise Value £36.34m
EV/EBITDA (79.82)
EV/EBIT (42.40)
   
PE Ratio (44.05)
PEG 126.53%
Dividend Yield -
Free Cash Yield (0.78)%

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All data provided by Fregnan.

31.03.19
(£)
31.03.20
(£)
31.03.21
(£)
Income Statement      
Revenue -42,66617,896
Operating Income (EBIT) (551,806)(1,808,646)(856,991)
Net Income (538,926)(1,802,791)(823,241)
       
Balance Sheet      
Cash 206,84187,73442,271
Total Debt 116,53945,000-
Total Liabilities 610,933184,327271,154
Total Equity 8,700,5558,752,0328,210,812
       
Operating Margin 0.00%(4,239.08)%(4,788.73)%
EPS - Basic (0.66)p(2.19)p(0.96)p
EPS - Growth 96.09%230.75%(55.86)%
Dividend Per Share ---
Average Shares Outstanding 81.56m82.48m85.32m
       
ROA (5.75%)(19.76%)(9.45%)
ROCE (6.15%)(20.73%)(10.10%)
ROE (6.01%)(20.66%)(9.71%)

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All data provided by Fregnan.

31.03.19
(£)
31.03.20
(£)
31.03.21
(£)
Revenue -42,66617,896
Cost of Revenue -33,98612,382
Depreciation & Amortisation 332,512404,027401,722
Gross Profit (332,512)(395,347)(396,208)
Other Operating Expenses 219,2941,413,299460,783
Operating Income (EBIT) (551,806)(1,808,646)(856,991)
Net Interest Expense ---
Unusual Expense (incl. Exceptionals) 2885,738-
Non-Operating Expense --1,288
Profit (pre-tax) (552,094)(1,814,384)(855,703)
Taxation 13,16811,59332,462
Other Expenses and Minortity Interest ---
Net Income (538,926)(1,802,791)(823,241)

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All data provided by Fregnan.

31.03.19
(£)
31.03.20
(£)
31.03.21
(£)
Cash from Operations 101,617(1,504,767)(282,483)
Cash from Investing (4,424)--
Cash from Financing 101,9811,385,660237,020
Other Miscellaneous ---
Net Cash Flow 199,174(119,107)(45,463)

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All data provided by Fregnan.

31.03.19
(£)
31.03.20
(£)
31.03.21
(£)
Current Assets 216,138250,774198,104
Non-Current Assets 9,095,3508,685,5858,283,862
Total Assets 9,311,4888,936,3598,481,966
Current Liabilities 610,933184,327271,154
Non-Current Liabilities ---
Total Liabilities 610,933184,327271,154
Net Assets 8,700,5558,752,0328,210,812
Total Equity 8,700,5558,752,0328,210,812

Click here to download a glossary of terms.

All data provided by Fregnan.

Address

Business Address

SulNOx Group Plc , 10 Orange Street, Haymarket, London, WC2H 7DQ, United Kingdom.

Email: tony.granger@sulnoxgroupplc.com

Phone: +44 203 291 3638

Registered Address

10 Orange Street, Haymarket, London, WC2H 7DQ, United Kingdom.

Contacts

Corporate Adviser

Allenby Capital Limited., 5 St Helen's Place, London, United Kingdom.

Email: info@allenbycapital.com

Phone: 020 3328 5656

Registrar

Share Registrars Ltd, The Courtyard, 17 West Street, Farnham, Surrey, GU9 7DR, United Kingdom.

Email: enquiries@shareregistrars.uk.com

Phone: 01252 821390

Research


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