RAAS Group recent report on Amaero dated 19 March 2021 predicts that Amaero is on track to deliver meaningful revenues by the end CY21.
RAAS Group writes: "Amaero International Ltd (ASX:3DA) creates large format, complex components in metal with laser-based additive manufacturing for the defence, aerospace and automotive sectors. The company, works with several of the world’s leading manufacturers of aerospace and defence products, delivering both design & prototype and manufacturing capability. Amaero has provided an update to investors noting that the several opportunities it has before it puts the company on track to deliver meaningful revenues by the end of CY21. The near term revenue opportunities include building a Centre for Additive Manufacturing Excellence in the Middle East, building and commissioning of a 120t/annum titanium powder facility in Australia, and expanding on the purchase order already received from Nissan. The company has also entered an agreement with Rio Tinto (ASX:RIO) to collaborate on the development of the supply chain for Amaero’s high performance, high operating temperature aluminium alloy, “Amaero Hot AI”. Amaero recently reported a better than forecast H1 FY21 loss of $3.01m, compared with our forecast for a net loss of $3.14m. The operating loss (EBITDA) for the half year was $1.91m (excluding non-cash share based payments), a 12% increase in H1 FY20 but below our forecast for a loss of $2.79m, with cost containment the feature. We have made some minor adjustments to our forecasts after incorporating the H1 FY21 result. Our base case valuation has lifted to $0.92/share (previously $0.90/share) as a result."
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