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January 31st, 2024 | 07:30 CET

BYD disappoints! Siemens Energy share gives hope! The cash register is ringing at Klimat X Developments!

  • Sustainability
  • renewableenergies
  • Electromobility
  • CarbonCredits
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The preliminary figures did not generate any positive impetus - BYD shares continued to fall. Profits increased significantly, but analysts had expected more. A trend in the fourth quarter is also ringing alarm bells. Siemens Energy surprised positively last week with preliminary figures. Analysts have since had their say, and the share price targets diverge widely. Will the forecast be raised, or was Q1 a positive blip? Tesla has shown in recent years that one can earn a lot of money with CO2 certificates. Klimat X Developments has fully focused on this business model. In 2023, the reference project was driven forward, and another milestone payment was received. When will the share take off?

time to read: 3 minutes | Author: Fabian Lorenz

Table of contents:

    Uwe Ahrens, Director, Altech Advanced Materials AG
    "[...] We know exactly what we are doing and are implementing what we consider to be a proven technology in an industrially applicable and scalable way. [...]" Uwe Ahrens, Director, Altech Advanced Materials AG

    Full interview


    Milestone Payment: Cash register rings at Klimat X

    Last year, we highlighted the opportunities of the innovative business model of Klimat X Developments. The Canadian specialist in CO2 certificates combines the fight against climate change, sustainable agriculture and economic support for remote regions. Its core business is the protection of forests and mangroves from deforestation and their reforestation. The continuously generated CO2 certificates are sold to companies all over the world. In addition, income is generated from agriculture, for example, from the sale of coconut water. Klimat X is currently advancing projects in Sierra Leone, Mexico and Suriname. Operationally, the Canadians are making progress and could take off in the stock market this year. The valuation of less than CAD 10 million certainly has room for improvement.

    In January 2024, Klimat X again announced a milestone payment for the project in Sierra Leone. The cash register is ringing for the third time with this flagship project. The Company ordered 1,000 hectares in the 2023 planting season. The reforestation project in Sierra Leone covers a total of 5,000 hectares. Verra emission certificates for up to 1.9 million tons are to be produced there over a period of 30 years. The project could be expanded to 20,000 hectares.

    James Tansey, CEO of Klimat X, said: "This third milestone demonstrates the successful progress of our operations in Sierra Leone and our commitment to delivering high-quality carbon credits. Our team is engaged in managing the reforestation for 2023 and preparing for an increase in reforestation efforts in 2024." The positive news flow looks set to continue for the rest of the year.

    BYD: Price war leaves its mark

    The BYD share is in a downward trend. Even the preliminary figures for 2023 published at the beginning of the week were unable to halt this trend. However, the results are impressive: In 2023, BYD increased sales of electric vehicles by 73% to around 1.6 million. In the fourth quarter, it even overthrew Tesla as the market leader in electric cars. According to BYD, net profit is expected to be between USD 4 billion and USD 4.4 billion. This would be between 75% and 87% more than in 2022. However, according to the Bloomberg news agency, this was slightly below analysts' estimates.

    One reason for this could have been the increasing price war over the course of the year. Despite the record sales in the fourth quarter, it did not lead to a record profit. According to Bloomberg calculations, net profit in the final quarter ranged between CNY 7.2 billion and CNY 9.2 billion. In the third quarter, it was still CNY 10.9 billion. In China, BYD had lowered prices for the Qin, Han and Tang volume models, for example, to boost year-end sales. This enabled the Company to at least achieve its delivery target of 3 million vehicles.

    Siemens Energy share: EUR 17 or EUR 9.90?

    Siemens Energy surprised positively last week with preliminary figures for the 2022/23 financial year. In other words, the problems at the subsidiary Gamesa had less of an impact than feared. The share subsequently continued its upward trend and is now trading well above EUR 13 again. This means that the DAX-listed company's shares have more than doubled from their low in October 2023. Analysts have now also reacted to the figures. The assessments are very different.

    JPMorgan is not convinced of the Company's potential. The analysts are sticking to their "Underweight" rating and target price of EUR 9.90. The experts do not trust the good start to the new financial year. As the Company has yet to raise its forecast, the strong performance is unlikely to continue. Deutsche Bank is more optimistic. The analysts have raised their price target from EUR 12 to EUR 14. The figures are surprisingly positive. Siemens Energy is tackling the problems in the wind sector. The analysts expect the Company to raise its forecast for the current year with the publication of the final figures for last year.

    The analysts at Jefferies see a share price potential of as much as 20% for Siemens Energy. The figures were significantly better than expected. A price of EUR 17 is fair. However, the failure to raise the forecast is also causing uncertainty among Jefferies analysts. Therefore, the rating remains "Hold" for the time being.

    2024 should be an exciting year for all three shares discussed. Will Klimat X finally take off? The operational development and the future potential for the sale of emission certificates make the market capitalization of less than CAD 10 million seem anything but high. In the case of BYD, the price war in China and the expansion into Europe and other large markets will determine the development of the share. If the first quarter of the current year was not an upward outlier, Siemens Energy could be one of the surprises in the DAX. However, the share seems to have already priced in a lot after a more than 100% increase.

    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 hold shares or other financial instruments of the aforementioned companies in the future or may bet on rising or falling prices and thus a conflict of interest may arise in the future. The Relevant Persons reserve the right to buy or sell shares or other financial instruments of the Company at any time (hereinafter each a "Transaction"). Transactions may, under certain circumstances, influence the respective price of the shares or other financial instruments of the Company.

    In addition, Apaton Finance GmbH is active in the context of the preparation and publication of the reporting in paid contractual relationships.

    For this reason, there is a concrete conflict of interest.

    The above information on existing conflicts of interest applies to all types and forms of publication used by Apaton Finance GmbH for publications on companies.

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    Der Autor

    Fabian Lorenz

    For more than twenty years, the Cologne native has been intensively involved with the stock market, both professionally and privately. He is particularly passionate about national and international small and micro caps.

    About the author

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