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1. Company Snapshot

1.a. Company Description

Leclanché SA designs, develops, manufactures, and sells customized turnkey energy storage solutions for electricity generation and transmission, mass transportation, heavy industrial machines, and specialty low voltage battery systems.The company operates through three segments: Stationary Business Unit, e-Transport Business Unit, and Specialty Battery Business Unit.The Stationary Business Unit segment sells customized systems to support customers in electricity generation markets, such as renewable energy integration, micro-grid, or distributed power; and transmission and distribution markets.


The e-Transport Business Unit segment sells customized systems to support customers in the mass marine, road, and rail transportation.The Specialty Battery Business Unit segment develops and delivers turn-key customized solutions and off-the-shelf solutions incorporating battery storage and/or charging solutions use in-house and third-party technologies for civil, military, medical, and industrial machineries markets.It operates in Switzerland, Norway, the Netherlands, Canada, France, the United States, Germany, and internationally.


Leclanché SA was incorporated in 1909 and is headquartered in Yverdon-les-Bains, Switzerland.

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1.b. Last Insights on LECN

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1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (17.54%)

6. Segments

e-Mobility

Expected Growth: 22.33%

Leclanché SA's e-Mobility segment growth of 22.33% is driven by increasing adoption of electric vehicles, government incentives for sustainable transportation, and rising demand for emission-free public transportation. Additionally, advancements in battery technology, decreasing production costs, and partnerships with major automotive companies contribute to this rapid growth.

Stationary

Expected Growth: 13.35%

Leclanché SA's stationary segment growth of 13.35% is driven by increasing adoption of renewable energy sources, rising demand for energy storage systems, and growing need for grid stabilization. Additionally, government incentives and declining battery costs are fueling growth in the stationary energy storage market.

Specialty

Expected Growth: 11.53%

Leclanché SA's Specialty segment growth of 11.53% is driven by increasing demand for lithium-ion batteries in the e-mobility and renewable energy sectors, coupled with the company's strategic partnerships and expanding production capacity. Additionally, growing adoption of clean energy solutions and government incentives for sustainable technologies are contributing to the segment's rapid growth.

7. Detailed Products

E-Mobility

Leclanché SA provides battery systems for electric vehicles, including buses, trucks, and passenger cars, enabling sustainable transportation solutions.

Stationary Storage Systems

Leclanché SA offers energy storage solutions for renewable energy systems, grid stabilization, and peak shaving, ensuring a stable and efficient energy supply.

Marine and Industrial Batteries

Leclanché SA provides specialized battery systems for marine vessels, industrial applications, and heavy-duty equipment, ensuring reliable power supply and performance.

Grid-Scale Energy Storage

Leclanché SA offers large-scale energy storage solutions for grid stabilization, frequency regulation, and renewable energy integration, enabling a more efficient and sustainable grid.

Home and Commercial Energy Storage

Leclanché SA provides energy storage solutions for homes and commercial buildings, enabling self-consumption of renewable energy and reducing energy costs.

8. Leclanché SA's Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for Leclanché SA is moderate, as there are alternative energy storage solutions available in the market, but the company's focus on high-performance lithium-ion batteries and its strong R&D capabilities help to differentiate its products.

Bargaining Power Of Customers

The bargaining power of customers is low, as Leclanché SA's products are highly customized and specialized, making it difficult for customers to switch to alternative suppliers.

Bargaining Power Of Suppliers

The bargaining power of suppliers is moderate, as Leclanché SA relies on a few key suppliers for critical components, but the company's strong relationships with these suppliers and its vertical integration efforts help to mitigate this risk.

Threat Of New Entrants

The threat of new entrants is high, as the energy storage market is attractive and growing, and new companies are entering the market with innovative technologies and business models.

Intensity Of Rivalry

The intensity of rivalry is high, as the energy storage market is highly competitive, with several established players and new entrants competing for market share.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 384.52%
Debt Cost 10.62%
Equity Weight -284.52%
Equity Cost 10.62%
WACC 10.62%
Leverage -135.15%

11. Quality Control: Leclanché SA passed 5 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Zumtobel

A-Score: 4.6/10

Value: 9.5

Growth: 2.8

Quality: 2.7

Yield: 3.8

Momentum: 1.0

Volatility: 7.7

1-Year Total Return ->

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Stock-Card
Leclanché

A-Score: 4.4/10

Value: 8.0

Growth: 4.2

Quality: 5.0

Yield: 0.0

Momentum: 9.0

Volatility: 0.3

1-Year Total Return ->

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Stock-Card
KATEK

A-Score: 3.8/10

Value: 7.6

Growth: 7.2

Quality: 2.3

Yield: 0.0

Momentum: 4.0

Volatility: 1.7

1-Year Total Return ->

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Stock-Card
Fagerhult

A-Score: 3.5/10

Value: 4.7

Growth: 3.4

Quality: 4.1

Yield: 3.8

Momentum: 1.0

Volatility: 4.0

1-Year Total Return ->

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Stock-Card
ADS-TEC Energy

A-Score: 3.3/10

Value: 8.0

Growth: 5.1

Quality: 5.0

Yield: 0.0

Momentum: 1.5

Volatility: 0.3

1-Year Total Return ->

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Stock-Card
LEM Holding

A-Score: 1.9/10

Value: 1.6

Growth: 1.4

Quality: 3.0

Yield: 3.1

Momentum: 0.0

Volatility: 2.3

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

0.16$

Current Price

0.16$

Potential

-0.00%

Expected Cash-Flows