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May 2nd, 2021 | 18:54 CEST

Aixtron, SunMirror, Everfuel - Emergency braking for electric mobility!

  • Commodities
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The chip shortage triggered by the blow-up of supply chains due to the Corona lockdowns is hitting the automotive industry with full force at the moment. Daimler has already had to put thousands of employees on short-time work at its plants in Rastatt and Bremen. The situation is similar at VW and even at the Korean carmaker Hyundai. The procurement of the necessary raw materials, caused by the increased demand due to the energy transition, will also be a considerable challenge in the future, not only for the electric car industry.

time to read: 3 minutes | Author: Stefan Feulner
ISIN: DE000A0WMPJ6 , CH0396131929 , DK0061414711

Table of contents:

    Incalculable risk

    To create a low-carbon future, the renewable energy industry needs a significant increase in raw materials such as copper, nickel, cobalt, rare earth metals and lithium. In the case of lithium, which is the most important raw material for powering batteries for electric cars, one study expects demand to increase by 25% per year until 2028. But even more serious is the fact that at least 80% of most of the raw materials needed come from China. In addition to increased domestic demand in the Middle Kingdom, an additional threat of an export freeze lurks due to the trade war between China and the USA.

    Politicians have known about these bottlenecks for quite some time already. In 2011 there was a supply crisis with rare earth metals due to a limitation of export volumes. The industry is on the move. Volkswagen AG plans to roll out a network of 6 gigafactories in Europe by 2030 to ensure battery supplies. However, this does not yet solve where the raw material lithium is actually supposed to come from outside China.

    Targets "Down Under"

    SunMirror AG, a Swiss multi-asset manager, is betting on the strongest long-term growth drivers from new technologies, such as the renewable energy sector and the electrification of transportation. In addition to gold, the company, which trades on the Direct Market in Vienna and Düsseldorf, is betting on rare earth metals. The current focus is in Western Australia, in the mining centers of Kingston and Mount Keith, which have a history of high-grade gold mining. In addition to high-grade discoveries with over 18,900 ounces of gold and an average of 30 grams per tonne, a high lithium grade has been identified in the past.

    The portfolio currently consists of three properties: the Moolyella Project (lithium, tin), the Kingston Keith Project (gold and nickel) and the Cape Lambert Project (iron ore). The foundation for the portfolio expansion was laid earlier this month with the issuance of a USD 10 million convertible bond that matures on May 30, 2022. The analysts at Sphene Capital recently gave SunMirror AG a buy rating and set the price target at EUR 174.30. The experts see an upside, among other things, in a possible trade sale of the most promising project, Cape Lambert South, to a strategic investor. Currently, the share is quoted at EUR 143.00. The stock market value is EUR 286 million.

    Investors disappointed

    Market participants reacted to Aixtron AG's figures with a share price drop of up to 10%. Although revenues climbed by around one-fifth year-on-year to just under EUR 50 million, analysts had expected significantly more. The EBIT, which was even in negative territory at minus EUR 0.7 million, was also unable to appease the experts, who were expecting black figures. On the other hand, net income was in positive territory at EUR 3.8 million, but only due to the capitalization of deferred taxes. There was also a setback to report at the subsidiary Apeva. Further talks with a major customer, which according to the Company, is one of the world's largest display manufacturers, were put on hold.

    Despite the unpleasant market reaction, the new CEO, Felix Grawert, has a positive outlook on the future: "Customer demand for our systems is gratifyingly high - across all three application areas of power electronics, optoelectronics and LEDs." We currently advise against an investment.

    Expansion to Sweden

    The shares of Danish hydrogen specialist Everfuel reacted to the roll-out in Sweden with price jumps in the past two trading days. Everfuel, which was created from a spin-off of the Norwegian parent Company Nel ASA, plans to set up 15 hydrogen filling stations across Sweden by the end of 2023. The plan covers the second strand of Everfuel's Scandinavian green hydrogen refueling strategy, after Norway.

    The main transport corridors between Norway, Sweden and Denmark, are to be developed for hydrogen mobility. Parent Company Nel ASA will supply the infrastructure. Despite the short-term price increase of almost 15% since the lows, we refrain from investing in the very narrow market share.

    Conflict of interest

    Pursuant to §85 of the German Securities Trading Act (WpHG), we point out that Apaton Finance GmbH as well as partners, authors or employees of Apaton Finance GmbH (hereinafter referred to as "Relevant Persons") may in the future hold shares or other financial instruments of the mentioned companies or will bet on rising or falling on rising or falling prices and therefore a conflict of interest may arise in the future. conflict of interest may arise in the future. The Relevant Persons reserve the shares or other financial instruments of the company at any time (hereinafter referred to as the company at any time (hereinafter referred to as a "Transaction"). "Transaction"). Transactions may under certain circumstances influence the respective price of the shares or other financial instruments of the of the Company.

    Furthermore, Apaton Finance GmbH reserves the right to enter into future relationships with the company or with third parties in relation to reports on the company. with regard to reports on the company, which are published within the scope of the Apaton Finance GmbH as well as in the social media, on partner sites or in e-mails, on partner sites or in e-mails. The above references to existing conflicts of interest apply apply to all types and forms of publication used by Apaton Finance GmbH uses for publications on companies.

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    The content is expressly not a financial analysis, but rather financial analysis, but rather journalistic or advertising texts. Readers or users who make investment decisions or carry out transactions on the basis decisions or transactions on the basis of the information provided here act completely at their own risk. There is no contractual relationship between between Apaton Finance GmbH and its readers or the users of its offers. users of its offers, as our information only refers to the company and not to the company, but not to the investment decision of the reader or user. or user.

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    Der Autor

    Stefan Feulner

    The native Franconian has more than 20 years of stock exchange experience and a broadly diversified network.
    He is passionate about analyzing a wide variety of business models and investigating new trends.

    About the author

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