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February 15th, 2024 | 07:00 CET

Manuka Resources, Delivery Hero, Siemens Energy: Project innovations for significant growth

  • Mining
  • Vanadium
  • Batteries
  • renewableenergies
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Vanadium is a critical raw material that is considered an important addition to conventional lithium-ion batteries due to its high energy density. It is used in electric vehicles as well as in vanadium redox flow batteries for long-term storage of renewable energy. Manuka Resources is on the verge of developing a vanadium area off the coast of New Zealand and is securing fresh capital for this purpose. Delivery Hero is also talking about opening up new regions. Expanding international business for the Berlin-based platform operator is one of the priorities for 2024. Siemens Energy is also focusing on expansion. The Germans are heading far west, to 'the land of the free and the home of the brave'...

time to read: 6 minutes | Author: Juliane Zielonka
ISIN: Manuka Resources Limited | AU0000090292 , DELIVERY HERO SE NA O.N. | DE000A2E4K43 , SIEMENS ENERGY AG NA O.N. | DE000ENER6Y0

Table of contents:

    Dennis Karp, Executive Chairman, Manuka Resources Limited
    "[...] We will trigger indirect creation of 1,665 new jobs nationwide, while directly employing 300 staff - 270 operational and 30 administrative. [...]" Dennis Karp, Executive Chairman, Manuka Resources Limited

    Full interview


    Manuka Resources: Capital boost of USD 3.25 million for top projects and debt reduction

    New Zealand is known for its beautiful nature, which has been featured in film productions such as Tolkien's "Lord of the Rings." The island below Australia thrives on tourism and is rich in natural resources, including gold and silver, coal and oil.

    Reason enough for the explorer Manuka Resources (ISIN: AU0000090292) to develop an area with rich vanadium deposits there. It is located in the marine area of the Taranaki region. Taranaki, on the west coast of New Zealand's North Island, is a region of mountains and coastline. Mount Taranaki, a volcano in Egmont National Park, dominates the landscape. The center of the area is the port city of New Plymouth.

    Vanadium is a valuable metal that is used primarily in the steel industry. With an increasing focus on sustainable processing, awareness of the environmentally friendly benefits of vanadium is growing. It helps to reduce costs and CO₂ emissions along many value and supply chains by doubling the strength of steel. Vanadium is also essential in the aerospace industry and in the longevity of electric batteries.

    The Taranaki Project of Manuka Resources comprises a resource of 3.2 billion tons of vanadium, titanium and magnetite (iron ore). Future production aims to reduce CO₂ emissions to the lowest quartile of global iron producers, with only 62 kg CO₂/t compared to the usual 125-250 kg CO₂/t. Around USD 50 million has been invested to date.

    Manuka Resources intends to raise USD 3.25 million through a private placement of shares. The money will be used for final approvals of the Taranaki VTM project, Mt Boppy gold project studies, and debt reduction of USD 2.5 million.

    "The new New Zealand government is very focused on fast-tracking robust mining projects, with particular mention of our 100% owned Taranaki VTM project. 2024 looks like a landmark year for our company," emphasizes CEO Dennis Karp. With an estimated production rate of 5 million tons per year, Manuka could become one of the largest vanadium producers on the Australian Stock Exchange. The explorer is also listed on the Frankfurt Stock Exchange.

    For investors interested in sustainability: The New Zealand government is working to implement a mining code that takes appropriate environmental protection measures into account. **For those interested in learning more about this exciting company, join us live on February 21, 2024, when Executive Director Alan Eggers will present the VTM project and more online at the 10th International Investment Forum. (04.30 am ET, 10.30 am CET, 05.30 pm HKT). Click here for registration.

    Delivery Hero strengthens equity and confirms positive financial year 2023

    Although Delivery Hero (ISIN DE000A2E4K43) does not yet deliver to New Zealand, customers in Southeast Asia can enjoy the services of the digital marketplace for food and groceries. Whether in Thailand, Singapore, or the Philippines, Delivery Hero operates under the foodpanda brand.

    Delivery Hero has denied reports that talks to sell part of its foodpanda business in Southeast Asia have broken down, leading to a sharp fall in its share price earlier this month. Like Manuka Resources, Delivery Hero is also looking to reduce debt in the current financial year.

    The Company recently announced that organic equity generation is expected to be sufficient to pay off maturing convertible bonds and debt in the coming years. The Company is responding to growing investor concerns about its ability to generate cash and repay debt while maintaining profitability and growth.

    Niklas Östberg, CEO and co-founder of Delivery Hero, says: "2023 was a milestone year for Delivery Hero as we saw our commitment to a rational growth strategy pay off. We have proven that we can significantly increase profits and cash flows while strengthening our position as an industry leader."

    He emphasizes that it does not rely on external refinancing or proceeds from the monetization of minority stakes or divestments. The debt structure includes EUR 4.4 billion in outstanding convertible bonds and term loans of USD 825 million and EUR 300 million.

    **CFO Emmanuel Thomassin adds that the Company expects to generate enough cash to settle the next convertible bond by the summer of 2025.

    According to the Company's own information, around 75% of the platform business was profitable in fiscal 2023, with around 10% more than in 2022. The profitable platform business generated an annualized adjusted EBITDA of over EUR 1.3 billion in the fourth quarter of 2023. Although most of these markets are still at an early stage, they are experiencing significant growth, and Delivery Hero fully expects them to become profitable in the coming quarters.

    Delivery Hero shares are up 7.1% to EUR 19.96. The Company also confirms its 2024 target of achieving positive free cash flow and adjusted EBITDA of EUR 725 to 775 million.

    Siemens Energy invests USD 150 million in new US transformer factory

    Good news is on the horizon for Siemens Energy AG (ISIN DE000ENER6Y0). Due to Germany's horrendous energy policy, German companies who are able to do so prefer to look abroad - no sooner said than done. The Company announced yesterday that it will invest USD 150 million in the construction of a new transformer factory in Charlotte, North Carolina, creating 600 local jobs.

    Power transformers are critical to the decarbonization of the US power grid, which under the Biden administration aims to reduce emissions by 50 to 52% by 2030 compared to 2005 levels. In November 2023, US developers reported increasing problems in the supply chain for high-voltage transformers, which are crucial for connecting wind and solar power plants and batteries to the grid.

    German engineering is, therefore, enjoying a resurgence in popularity. According to Governor Roy Cooper's office and a document from the state's Department of Commerce, the German company already has more than 1,250 employees in Charlotte and hundreds more in locations such as Raleigh, Selma and Forsyth County. Siemens Energy sees long-term potential in expanding its presence in the US and wants to build on its many years of experience in North Carolina, said Tim Holt, member of the Managing Board. Construction work on the factory is scheduled to begin this year. Production is planned for early 2026.

    The explorer Manuka Resources will raise USD 3.25 million in cash through a private placement of shares. This capital will be used to advance the Taranaki VTM project. In addition, with current projects such as Mt Boppy, the funds will be used to conduct gold project studies and pay off debt of USD 2.5 million. Future mining activities in the Taranaki region offer enormous potential to make Manuka Resources the largest vanadium producer on the Australian Stock Exchange, with an estimated production rate of 5 million tons per annum from the VTM project. Delivery Hero records a milestone in profit and cash flow growth in 2023. The Company plans to reduce debt through organic equity generation and expects profitable growth. Siemens Energy is investing USD 150 million in the construction of a new transformer factory in Charlotte, North Carolina, USA. This investment will create 600 local jobs and is aimed at supporting the decarbonization of the US power grid. The decision shows future and long-term potential for Siemens Energy in the US. Three companies, three stocks, and three investment opportunities, all linked to growth. Whether extracting raw materials in the form of vanadium for metal processing, expanding the supply platform in new markets to order food for the body's own energy or securing the power grid in the US through German Engineering - innovation is the engine that allows investors to participate in good returns.

    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

    Juliane Zielonka

    Born in Bielefeld, she studied German, English and psychology. The emergence of the Internet in the early '90s led her from university to training in graphic design and marketing communications. After years of agency work in corporate branding, she switched to publishing and learned her editorial craft at Hubert Burda Media.

    About the author

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