Q4 2020 Highlights
Some good news ...still worries over China
DISC: I have a small holding
16-Nov-2020: Fluence Strategic Repositioning, Change in CEO
Fluence repositions strategy to focus on MABR and Smart Products Solutions, changes MD & CEO, and reaffirms guidance Summary
Fluence Corporation Limited (ASX:FLC) has become a leader in the decentralized water, wastewater and reuse treatment markets through Smart Products Solutions, including MABR-based Aspiral™ and SUBRE as well as our NIROBOX™ technology. To further leverage and build on this success, Fluence is repositioning its global business to focus on these products in the most attractive market segments with the goal of achieving more rapid, consistent and profitable growth.
--- click on the link above for the full announcement ---
[I do NOT hold FLC shares.]
The Fluence (FLC) Half Year (1st half of FY20) results have not yet been fully audited, so they're taking advantage of the recently announced ASIC relief titled “ASIC Corporations (Extended Reporting and Lodgement Deadlines—Listed Entities) Instrument 2020/451” dated 15 May 2020 and the corresponding ASX Class Waiver issued on 16 June 2020 titled “Extended Reporting and Lodgement Deadlines” to lodge its Half Year Accounts subject to audit review, and defer lodgement of the audit reviewed Half Year Accounts until no later than 30 September 2020. I notice that ISX (iSignThis) did the same thing last week.
Fluence's H1 2020 unaudited numbers were:
Fluence by the Numbers (from page 3 of the Results Deck):
H1 2020 Key Highlights (from page 4 of the Results Deck):
* = All numbers in presentation are USD (US$) if not otherwise stated.
--- click on the links above for more ---
[I'm not keen to hold China-facing smaller companies at this point in time, so FLC and PET (who reported last week - on the 26th) are two companies I am avoiding at the moment.]
08-July-2020: I can see why FLC might look like rediculously good value at around 20 cents per share, but their chart is truly horrible, and they are very exposed to China - who may well still be trying to punish Australia for daring to ask for an inquiry into the origins and early response to COVID-19. I have been out of FLC for a long time now, and haven't been following them very much. I also removed them from my Strawman.com scorecard some time ago because I saw little reason why their SE SP trajectory was going to suddenly change and head north again. I removed PET recently for much the same reasons. A small Australian company with too much invested in China at the wrong time.
Other issues specific to FLC, in my opinion, include:
Of course, 2 days later (on Friday 10th July, 2020) - they released this announcement: Fluence Achieves Positive Quarterly Cashflow. And rose +17.5%.
I think a number of my points do however remain valid. On the other hand, this could be a positive inflection point for FLC. Time will tell.