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Interview with FOM Technologies CEO Michael Stadi
31.03.2022

Interview with FOM Technologies CEO Michael Stadi

Congratulations Michael on FOM Technologies record year 2021! Can you start off by giving us a short introduction about yourself?

– Sure. I have a financial/economic background having been working in the financial industry in Copenhagen, London and Stockholm for the first 16 years of my career. After that I decided to change to the corporate world, specializing in management, strategy and business development with a huge passion for cleantech and a greener and more sustainable world to pass on to our children and the next generation. My specialty is to grow and develop SME’s.

Can you describe FOM Technologies area of business for those who is not familiar with the company from before?

– FOM Technologies is a super exiting SME with tremendous potential. The technology is a spin-out from the Danish Technical University (DTU) and we provide machines and equipment for material scientist around the world. They use our machines to print thin uniform layers of almost any organic material so the material gets a function (to better absorb sunlight or membranes for batteries etc. – hence the abbreviation FOM (Functional Organic Materials). The company was founded in late 2012 and has been “born global” with more than 100 customers in over 20 countries up until now.

Ge din syn på FOM Technologies här

FOM Technologies is expected to grow fast during the next years. Do you have to make significant investments, in order to achieve this growth?

– No – if you mean in factories and production lines the answer is no. All that is outsourced to sub-suppliers (all 1 hours of transportation from CPH), but if you mean investment in the best people, larger stock (due to the difficult global supply chain issues everybody is currently facing), and continuous innovation in our product portfolio then the answer is yes. All great companies wanting to grow needs hard work and investing in the future potential.

Will you be able to finance growth with your own cash flow or will you have to raise capital anytime soon?

– As CEO you have many exciting responsibilities, one of the most important ones are to always secure an adequate capital structure put in relation to your commercial activities. That can be done in many ways through equity, cash management, loans and credit facilities etc. At FOM we are super conservative, have zero debt and have financed the growth journey our self since the establishing but with extra capital infusion at our listing in 2020. We are always monitoring our increasing customer order inflow closely and will inform the market accordingly if we decide to adjust the capital structure.

FOM Technologies has already built a customer base with a number of prestigious universities and Fortune 500 companies. How big is your client base (as of today) and do you have any recurring customers?

– FOM wants to play in the very best global league at what we do. Our technology is state-of-the-art, and our track record of leading universities and research institutions are impressive on a global scale, and in perspective of our modest size until now. At present we have more than 100 global customers in more than 20 countries on all 6 continents. We brag about being “born global” and will maintain that focus. The new thing is - that where our customers historically has been categorized as academic customers, we now see a steady and increasing interest from corporate customers. That is a clear sign of a maturing market for our technology and is very promising for the future.

Do you consider FOM Technologies business model to be scalable?

– Absolutely – otherwise I would never have joined the company and become a major shareholder. I have spent the last 16 years of my career on management, business development and strategy – where the dominating key word is how to scale things. At a point in my career I wanted to work for a company that I had a significant stake in myself and looked at a numerous of companies. I choose FOM as it ticked all the fundamentals for a successful growth case. That was my analysis when I joined in 2017 and that is still my belief.

After a strong financial year 2021, you gave out a quite conservative financial outlook for 2022. Do you agree on that the guidance is conservative and is it possible that you will raise your financial guidance during the year?

– Yes I agree on that statement, and I think it’s great to be conservative in a financial world of listed companies where the “hockey stick” can’t be exponential enough. My management mantra is: “Under promise and overdeliver”. Right now the world is very “unnormal” compared to how it has been between the 1950’s and up until 2010’ish.

Europe is at war, we are still struggling with a global pandemic, and on top of that we have major global supply chain issues. For 2022 at FOM we might face the situation that we can sell much more that we can supply, so we have all reasons to take a conservative approach on things. That is what we are known for, and that is how we will continue to manage our business.

How big of an issue are the supply challenges (mainly caused by the COVID-19 epidemic) and will FOM Technologies be affected by higher energy costs?

– As mentioned above, supply chain issues are the first and most crucial issue for any technology company in the world that competes on a global scale. So that is also the biggest challenge for FOM Technologies. It has our highest priority. On the positive side our product and solutions are not very much affected on higher energy cost. So that is the good thing.

There are very few competitors that offer similar coating services as FOM Technologies. Do you expect tightened competition in the next few years?

– Yes certainly – and we consider that as a really positive thing. Slot-die coating is currently a niche and a very unknown technology. From our side the technology is fully developed – but it just needs to be presented to potential customers, and a small SME in Scandinavia can’t do that themselves on a global scale. That needs to be a joined effort by market competitors because the market potential is so huge. We want to grow with the market, and faster than the market, and want to be one of the best in the market (one the market leaders), that is our goal, but we very much applaud that other players are also promoting this new exciting technology.

Where do you see the company in 5 years?

– FOM Technologies are aiming to maintain the position as one of the global market leaders within slot-die coating. At that time we are significant larger than our current set-up with sales organization in US, HQ in Denmark, global distributor network and partnership around the world. Our focus area will still be Energy Harvesting (Solar) and Energy Storage (Fuel cells, Batteries, and Power-to-X), and 1-2 more really exciting new application fields that I can’t really reveal much about at present.

FOM Technologies
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24.03.2022
FOM Technologies: Attractive Growth Potential and Aiming for Main Market in 2023

FOM Technologies: Attractive Growth Potential and Aiming for Main Market in 2023

Stockpicker conducts commissioned equity research on the Danish company FOM Technologies, listed on First North Growth Market Denmark.

Interesting Technology

FOM Technologies has gained recognition as a pioneer of cutting-edge precision equipment for slot-die coating of new functional materials. The technology can be used for a variety of different research areas and the market potential can thus be described as high. The Danish company already has a strong global clientele with highly regarded universities and several fortune 500 companies.

FOM Technologies aim to grow and develop into a leading company within the slot-die coating technology, contributing to a cleaner and more sustainable world.

Record year 2021

2020 was a challenging year for FOM Technologies due to COVID-19 restrictions. However, in 2021 the company raised their financial guidance several times and the commercial journey described in the IPO memorandum started to materialize. FOM Technologies achieved this despite continuing supply challenges caused by the COVID-19 epidemic.

Aiming for Main Market

After a strong financial year 2021 and aggressive investments in innovation, a global distribution network and development of new products, FOM Technologies intend to work towards a listing on the Nasdaq Main Market – Small Cap in 2023.

Attractive Growth Potential

Using a discounted cash flow valuation method, we establish a fair value per share of 49,0 DKK. For our base case scenario to materialize, FOM Technologies will have to increase both sales and profitability substantially.

Stockpicker considers the company's technology, in itself, to carry a value. The high value of insider ownership also signals management strong believe in the future of the company.

Download the full analysis here

Ge din syn på FOM Technologies här

DISCLAIMER: This report is intended for informational purposes only and may not be used or considered under any circumstances as an offer to sell or buy any securities or as advice to trade any securities. It is for general purposes only and does not take into account your individual needs, investment objectives and specific financial circumstances. Investment involves risk. The report is based on sources Stockpicker AB considers to be correct and reliable. However, Stockpicker AB does not guarantee the materialization, correctness, accuracy or completeness of the information, estimates, opinions or forecasts expressed or implied in the report.

Stockpicker AB is not responsible for correcting or updating any information contained in this report and will not compensate, any direct or consequential losses, caused by the information published in this report.

Stockpicker AB uses 12-month target prices. Target prices are based on different valuation methods depending on circumstances. Target prices may be altered due to new information available without notice.

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Av
Axel Stenman Analytiker
Relaterade ämnen
30.03.2022
Small Cap - Azelio byter vd med omedelbar verkan

Small Cap - Azelio byter vd med omedelbar verkan

FOM Technologies höjer guidningen efter en stark inledning på året.

Det danska bolaget räknar nu med att omsättningen blir inom intervallet 29-32 miljoner danska kronor (tidigare 26-30). EBITDA guidningen hålls samtidigt oförändrad på 1-3 miljoner danska kronor. FOM Technologies är verksamma inom tillverkningsindustrin. Bolaget är specialiserade inom utveckling av industriella maskiner som används för slipning och beskärning av material, samt för olika produktionsprocesser. Marknaden handlade upp aktien 1,2 procent till 38,45 danska kronor. Som högst betalades aktien till 39,95 danska kronor.

Styrelsen i Azelio har utsett Jonas Wallmander till ny vd med omedelbar verkan. Jonas har arbetat inom Azelio sedan 2011 och har varit vice vd och del av koncernledningen sedan 2017. Han tillträder sin nya roll med omedelbar verkan och ersätter därmed Jonas Eklind. Aktien tappade 0,3 procent till 10,12 kronor. Den senaste tolvmånadersperioden har börsvärdet minskat med hela 82 procent.

Elfordonstillverkaren Inzile rapporterade ett rörelseresultat på -36,9 miljoner kronor (-3,5) för det fjärde kvartalet 2021. Nettoomsättningen låg på 2,9 miljoner kronor (0). Enligt bolagets vd Måns Sjöstedt var försäljningen fortfarande lägre än väntat under det fjärde kvartalet, främst till följd av långa säljcykler. Produktionen gick på lågvarv under kvartalet eftersom det första halvåret gav Inzile möjlighet att tillverka ett stort antal fordon. I slutet av december hade Inzile 50 fordon på lager och bolaget planerar att sälja alla dessa under det första halvåret. Därefter kommer produktion driven av kundorder att ske. Aktien stängde 2 procent lägre till 22,25 kronor.

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Av
Fredrik Larsson Analytiker
Annons
FOM Technologies: Attractive Growth Potential and Aiming for Main Market in 2023
24.03.2022

FOM Technologies: Attractive Growth Potential and Aiming for Main Market in 2023

Stockpicker conducts commissioned equity research on the Danish company FOM Technologies, listed on First North Growth Market Denmark. Stockpicker finds the company well positioned for strong growth and the investment case attractive.

Interesting Technology

FOM Technologies has gained recognition as a pioneer of cutting-edge precision equipment for slot-die coating of new functional materials. The technology can be used for a variety of different research areas and the market potential can thus be described as high. The Danish company already has a strong global clientele with highly regarded universities and several fortune 500 companies.

FOM Technologies aim to grow and develop into a leading company within the slot-die coating technology, contributing to a cleaner and more sustainable world.

Record year 2021

2020 was a challenging year for FOM Technologies due to COVID-19 restrictions. However, in 2021 the company raised their financial guidance several times and the commercial journey described in the IPO memorandum started to materialize. FOM Technologies achieved this despite continuing supply challenges caused by the COVID-19 epidemic.

Aiming for Main Market

After a strong financial year 2021 and aggressive investments in innovation, a global distribution network and development of new products, FOM Technologies intend to work towards a listing on the Nasdaq Main Market – Small Cap in 2023.

Attractive Growth Potential

Using a discounted cash flow valuation method, we establish a fair value per share of 49,0 DKK. For our base case scenario to materialize, FOM Technologies will have to increase both sales and profitability substantially.

Stockpicker considers the company's technology, in itself, to carry a value. The high value of insider ownership also signals management strong believe in the future of the company.

Download the full analysis here

Ge din syn på FOM Technologies här

DISCLAIMER: This report is intended for informational purposes only and may not be used or considered under any circumstances as an offer to sell or buy any securities or as advice to trade any securities. It is for general purposes only and does not take into account your individual needs, investment objectives and specific financial circumstances. Investment involves risk. The report is based on sources Stockpicker AB considers to be correct and reliable. However, Stockpicker AB does not guarantee the materialization, correctness, accuracy or completeness of the information, estimates, opinions or forecasts expressed or implied in the report.

Stockpicker AB is not responsible for correcting or updating any information contained in this report and will not compensate, any direct or consequential losses, caused by the information published in this report.

Stockpicker AB uses 12-month target prices. Target prices are based on different valuation methods depending on circumstances. Target prices may be altered due to new information available without notice.

FOM Technologies
Stäng×
Av
Axel Stenman Analytiker
Relaterade ämnen
31.03.2022
Interview with FOM Technologies CEO Michael Stadi

Interview with FOM Technologies CEO Michael Stadi

Congratulations Michael on FOM Technologies record year 2021! Can you start off by giving us a short introduction about yourself?

– Sure. I have a financial/economic background having been working in the financial industry in Copenhagen, London and Stockholm for the first 16 years of my career. After that I decided to change to the corporate world, specializing in management, strategy and business development with a huge passion for cleantech and a greener and more sustainable world to pass on to our children and the next generation. My specialty is to grow and develop SME’s.

Can you describe FOM Technologies area of business for those who is not familiar with the company from before?

– FOM Technologies is a super exiting SME with tremendous potential. The technology is a spin-out from the Danish Technical University (DTU) and we provide machines and equipment for material scientist around the world. They use our machines to print thin uniform layers of almost any organic material so the material gets a function (to better absorb sunlight or membranes for batteries etc. – hence the abbreviation FOM (Functional Organic Materials). The company was founded in late 2012 and has been “born global” with more than 100 customers in over 20 countries up until now.

Ge din syn på FOM Technologies här

FOM Technologies is expected to grow fast during the next years. Do you have to make significant investments, in order to achieve this growth?

– No – if you mean in factories and production lines the answer is no. All that is outsourced to sub-suppliers (all 1 hours of transportation from CPH), but if you mean investment in the best people, larger stock (due to the difficult global supply chain issues everybody is currently facing), and continuous innovation in our product portfolio then the answer is yes. All great companies wanting to grow needs hard work and investing in the future potential.

Will you be able to finance growth with your own cash flow or will you have to raise capital anytime soon?

– As CEO you have many exciting responsibilities, one of the most important ones are to always secure an adequate capital structure put in relation to your commercial activities. That can be done in many ways through equity, cash management, loans and credit facilities etc. At FOM we are super conservative, have zero debt and have financed the growth journey our self since the establishing but with extra capital infusion at our listing in 2020. We are always monitoring our increasing customer order inflow closely and will inform the market accordingly if we decide to adjust the capital structure.

FOM Technologies has already built a customer base with a number of prestigious universities and Fortune 500 companies. How big is your client base (as of today) and do you have any recurring customers?

– FOM wants to play in the very best global league at what we do. Our technology is state-of-the-art, and our track record of leading universities and research institutions are impressive on a global scale, and in perspective of our modest size until now. At present we have more than 100 global customers in more than 20 countries on all 6 continents. We brag about being “born global” and will maintain that focus. The new thing is - that where our customers historically has been categorized as academic customers, we now see a steady and increasing interest from corporate customers. That is a clear sign of a maturing market for our technology and is very promising for the future.

Do you consider FOM Technologies business model to be scalable?

– Absolutely – otherwise I would never have joined the company and become a major shareholder. I have spent the last 16 years of my career on management, business development and strategy – where the dominating key word is how to scale things. At a point in my career I wanted to work for a company that I had a significant stake in myself and looked at a numerous of companies. I choose FOM as it ticked all the fundamentals for a successful growth case. That was my analysis when I joined in 2017 and that is still my belief.

After a strong financial year 2021, you gave out a quite conservative financial outlook for 2022. Do you agree on that the guidance is conservative and is it possible that you will raise your financial guidance during the year?

– Yes I agree on that statement, and I think it’s great to be conservative in a financial world of listed companies where the “hockey stick” can’t be exponential enough. My management mantra is: “Under promise and overdeliver”. Right now the world is very “unnormal” compared to how it has been between the 1950’s and up until 2010’ish.

Europe is at war, we are still struggling with a global pandemic, and on top of that we have major global supply chain issues. For 2022 at FOM we might face the situation that we can sell much more that we can supply, so we have all reasons to take a conservative approach on things. That is what we are known for, and that is how we will continue to manage our business.

How big of an issue are the supply challenges (mainly caused by the COVID-19 epidemic) and will FOM Technologies be affected by higher energy costs?

– As mentioned above, supply chain issues are the first and most crucial issue for any technology company in the world that competes on a global scale. So that is also the biggest challenge for FOM Technologies. It has our highest priority. On the positive side our product and solutions are not very much affected on higher energy cost. So that is the good thing.

There are very few competitors that offer similar coating services as FOM Technologies. Do you expect tightened competition in the next few years?

– Yes certainly – and we consider that as a really positive thing. Slot-die coating is currently a niche and a very unknown technology. From our side the technology is fully developed – but it just needs to be presented to potential customers, and a small SME in Scandinavia can’t do that themselves on a global scale. That needs to be a joined effort by market competitors because the market potential is so huge. We want to grow with the market, and faster than the market, and want to be one of the best in the market (one the market leaders), that is our goal, but we very much applaud that other players are also promoting this new exciting technology.

Where do you see the company in 5 years?

– FOM Technologies are aiming to maintain the position as one of the global market leaders within slot-die coating. At that time we are significant larger than our current set-up with sales organization in US, HQ in Denmark, global distributor network and partnership around the world. Our focus area will still be Energy Harvesting (Solar) and Energy Storage (Fuel cells, Batteries, and Power-to-X), and 1-2 more really exciting new application fields that I can’t really reveal much about at present.

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