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 10 11 10.5 10.5 1175 31.01.23

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Key Information

  
Market Cap: £10,588,362
ISIN:GB00BJVQQP66
Par:0.02
Inst Type:Ordinaries
Symbol:SNOX
MIFID Status:MTF
Tradable securities in issue:100,841,539
Sector:Energy
% daily price change:0.00%

Latest Trades

Date & Time Volume Price
31.01.23  |  09:11:50117510.02
30.01.23  |  14:45:41250011
30.01.23  |  14:45:34250011
30.01.23  |  14:40:031000011
24.01.23  |  15:00:011000011.02
20.01.23  |  08:30:055000011.11
17.01.23  |  14:10:542000011.72
16.01.23  |  15:43:334960011.74
16.01.23  |  15:43:244960011.7
09.01.23  |  09:55:20563912.2

Financial Information

Performance

Earnings per share of -2.16p for 03/2022 has grown from -2.19p in 03/2020 or 1% over the period. Looking at this trend over the last 3 reported periods earnings are showing a growth.

Earnings per share   % growth (1)
   
 03/2021-56%
 03/2022124%
   
Average over 3 periods+-1%
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 58.2 in 03/2022 has declined from 42.6 in 03/2020. Operating costs over the period have increased. Revenues have declined.

Cost to Revenue ratio (2)   Multiple to Revenue
   
 03/202042.6x
 03/202148.2x
 03/202258.2x
   
Average multiple over 3 periods+49.2x
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-18x
EBIT-14.3x
NI-14.3x
FCF-19.9x
DPS-
Assets3.1x
CE3.2x

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 3.07x 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.

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All data provided by Fregnan.

Last results date:     31.03.22
Enterprise Value £28.24m
EV/EBITDA (17.99)
EV/EBIT (14.31)
   
PE Ratio (13.90)
PEG (68.44)%
Dividend Yield -
Free Cash Yield (5.18)%

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All data provided by Fregnan.

31.03.20
(£)
31.03.21
(£)
31.03.22
(£)
Income Statement      
Revenue 42,66617,89633,522
Operating Income (EBIT) (1,808,646)(856,990)(1,973,120)
Net Income (1,802,791)(823,240)(1,975,739)
       
Balance Sheet      
Cash 87,73442,2711,065,388
Total Debt 45,000--
Total Liabilities 184,327271,154259,197
Total Equity 8,752,0328,210,8128,952,558
       
Operating Margin (4,239.08)%(4,788.72)%(5,886.04)%
EPS - Basic (2.19)p(0.96)p(2.16)p
EPS - Growth 230.75%(55.86)%123.66%
Dividend Per Share ---
Average Shares Outstanding 82.48m85.32m91.56m
       
ROA (19.76%)(9.45%)(22.33%)
ROCE (20.73%)(10.10%)(22.99%)
ROE (20.66%)(9.71%)(23.02%)

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All data provided by Fregnan.

31.03.20
(£)
31.03.21
(£)
31.03.22
(£)
Revenue 42,66617,89633,522
Cost of Revenue 33,98612,38055,671
Depreciation & Amortisation 404,027401,722403,740
Gross Profit (395,347)(396,206)(425,889)
Other Operating Expenses 1,413,299460,7841,547,231
Operating Income (EBIT) (1,808,646)(856,990)(1,973,120)
Net Interest Expense --2,085
Unusual Expense (incl. Exceptionals) 5,738--
Non-Operating Expense -1,288(2,771)
Profit (pre-tax) (1,814,384)(855,702)(1,977,976)
Taxation 11,59332,4622,237
Other Expenses and Minortity Interest ---
Net Income (1,802,791)(823,240)(1,975,739)

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All data provided by Fregnan.

31.03.20
(£)
31.03.21
(£)
31.03.22
(£)
Cash from Operations (1,504,767)(282,483)(1,399,236)
Cash from Investing --(23,727)
Cash from Financing 1,385,660237,0202,446,080
Other Miscellaneous ---
Net Cash Flow (119,107)(45,463)1,023,117

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All data provided by Fregnan.

31.03.20
(£)
31.03.21
(£)
31.03.22
(£)
Current Assets 250,774198,1041,307,906
Non-Current Assets 8,685,5858,283,8627,903,849
Total Assets 8,936,3598,481,9669,211,755
Current Liabilities 184,327271,154259,197
Non-Current Liabilities ---
Total Liabilities 184,327271,154259,197
Net Assets 8,752,0328,210,8128,952,558
Total Equity 8,752,0328,210,8128,952,558

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, 3 The Millennium Centre, Crosby Way, Farnham, Surrey, GU9 7XX, United Kingdom.

Email: enquiries@shareregistrars.uk.com

Phone: +44 (0) 1252 821390

Research


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