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Northland Capital Partners View on the City - Venture Life Group (LON:VGL), Edenville Energy (LON:EDL)

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SECTOR: MINING; HEALTHCARE

Venture Life Group (VLG.L)

SECTOR – HEALTHCARE

RATING – BUY*

MARKET CAP – £14.6m

CURRENT PRICE – 39.5p#

TARGET PRICE – 100p

ANALYST – BARRY GIBB

 

Year-end Dec

2016A

2017A

2018E

2019E

 

Revenue (£m)

14.28

16.05

17.80

19.55

EBITDA (£m)

0.80

1.86

2.35

3.16

Adj. pre-tax Profit (£m)

(1.11)

0.06

 0.51

1.37

Adj. EPS (p)

(3.76)

(1.00)

0.18

2.36

DPS (p)

-

-

-

-

Net Cash/(Debt) (£m)

(5.15)

(6.32)

(5.94)

(4.51)

P/E (x)

-

-

215.0

17.9

Dividend yield (%)

-

-

-

-

EV/EBITDA (x)

26.2

11.8

9.3

6.4

 

 

SOURCE: Northland Capital Partners Limited estimates. #Priced at market close, *Northland Capital Partners Limited acts as Nomad and Joint Broker to Venture Life Group and therefore this information should be viewed as a Marketing Communication.

 

UltraDEX extends its agreement with La Brosse et Dupont SAS

 

NORTHLAND VIEW

  • Venture Life announces an update on its UltraDEX brand. The Group has extended its agreement with key French distributor La Brosse et Dupont SAS ("La Brosse") to include the UltraDEX Sensitive toothpaste. The launch will take place in H2 2018 and follows the successful launch of the original UltraDEX range in Q1 2018 in France.
  • La Brosse, a former subsidiary of LVMH Moet Hennessy Louis Vuitton S.E, serves customers through large and medium commercial outlets across France, including Leclerc and Carrefour, and has market leading products within the oral healthcare space.
  • UltraDEX was also partnered in Italy and the Nordics in 2017 and, after delivery of product in Q4 2017, these partners have also launched UltraDEX into their respective markets during H1 2018. Both partners are building a presence for the mouthwash, toothpaste and spray products in pharmacies and dental practices. Separately, Venture Life announced the launch of the new UltraDEX 'One Go' range in all 797 of the Superdrug stores in the UK from June 2018.

The extension of this agreement with La Brosse is a real testament to the continued international success of UltraDEX, particularly at such an early stage in the Group’s launch of the UltraDEX range in France.  It also reinforced the Board’s decision to re-focus investment on the Brands businesses, recognising this area offers the greatest potential to deliver shareholder value through both new acquisitions and continued organic growth.

 

COMPANY DESCRIPTION

Venture Life Group plc is a consumer healthcare company. The Group develops, manufactures, and commercialises self-care products which target the ageing population.

 

Edenville Energy (EDL.L)

SECTOR – MINING

RATING – CORP*

MARKET CAP – £5.4m

CURRENT PRICE – 0.41p#

ANALYST – DR RYAN D. LONG

 

Year-end Dec

2015A

2016A

 

 

 

Revenue (£m)

-

-

No forecasts provided

EBITDA (£m)

(4.5)

(3.2)

Adj. pre-tax Profit (£m)

(4.5)

(3.2)

Adj. EPS (p)

(1.0)

(0.5)

DPS (p)

-

-

Net Cash/(Debt) (£m)

(0.1)

(0.2)

P/E (x)

-

-

Dividend yield (%)

-

-

EV/EBITDA (x)

-

-

 

 

SOURCE: Northland Capital Partners Limited estimates. #Priced at prior trading day close. *Northland Capital Partners Limited acts as Nomad and Broker to Edenville Energy and therefore this information should be viewed as a Marketing Communication.

 

From Friday: £740,000 placing

 

NORTHLAND VIEW

  • Northland Capital Partners has acted as Nomad and Broker in a £740,000 placing for Edenville Energy.
  • The Company will issue 211,428,572 shares at a price of 0.35p per share.
  • Following admission the Company will have 1,547,746,370 shares in issue.

Edenville Energy will use the monies raised to fund the expansion of production at its current mining operations at the Rukwa Coal Project, located in Tanzania. The Plant is currently operating at 4,000t per month and these funds will allow it to increase production rates to fulfil current and potential orders.

 

COMPANY DESCRIPTION

Edenville Energy is moving the Rukwa Coal Project towards near-term production alongside advancing its Coal to Power Project.

 

 

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