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5N Plus

TSX | VNP Industrials
9 May 2024

5N Plus Uploaded a News Release
May 9, 2024

5N Plus Announces Election of Directors

Release Highlights:

  • 5N Plus has announced that the nominees listed in its Management Information Circular dated April 1, 2024 were elected as directors of 5N Plus at its Annual General Meeting of Shareholders
  • The directors have re-appointed Mr. Luc Bertrand Chairman of the Board.
  • PricewaterhouseCoopers LLP, Chartered Professional Accountants, was reappointed as independent auditor of 5N Plus until the close of the next annual general meeting of Shareholders, and the directors were authorized to fix the remuneration of the auditor.
6 May 2024

5N Plus Uploaded a Earnings Report
May 6, 2024

5N Plus Inc. Reports Q1 2024 Financial Results

Report Highlights:

  • Revenue in Q1 2024 increased by 18% to USD 65.0 million, compared to USD 55.3 million in Q1 2023, primarily driven by strong growth from terrestrial renewable energy and space solar power sectors under Specialty Semiconductors.
  • 5N+ announced that it was awarded a grant from the U.S. Department of Defense for USD 14.4 million, to support the Company’s production facility in St. George, Utah, which manufactures germanium substrates used in solar cells for defense and commercial satellites.
  • Growing demand continues to strengthen the unique position of 5N+ as the leading global supplier of ultra-high purity semiconductor compounds outside China with key customer partnerships in high-growth sectors, including sensing and medical imaging.
29 Apr 2024

5N Plus Uploaded a Corporate Update
April 29, 2024

5N Plus to Release Q1 2024 Results on May 6th, 2024 and Hold Its Virtual General Meeting on May 9th, 2024

Release Highlights:

  • 5N Plus Inc. will release its first quarter 2024 results after markets close on Monday, May 6th, 2024.
  • 5N+ will be hosting a conference call, Tuesday, May 7th, 2024 with financial analysts to discuss the results of the quarter.
  • The annual general meeting of shareholders will be hosted on Thursday, May 9th, 2024 at 10:00 am (EDT) in virtual format only. Link to webcast: https://meetnow.global/M7PYRGL
18 Apr 2024

5N Plus Uploaded a News Release
April 18, 2024

5N+ Awarded USD 14.4M by U.S. Department of Defense

Release Highlights:

  • 5N+ has been awarded USD 14.4M by the U.S. Department of Defense for the production of space-qualified materials in solar cells under its Defense Production Act Investment (DPAI) Program.
  • This award will enable 5N+ to upgrade and increase manufacturing of high-purity, dislocation-free, electrically-uniform germanium wafers at its St. George, Utah facility over the next four years.
  • As a leader in the U.S. DoD’s domestic sources of supply, 5N+ produces specialty semiconductors and performance materials which are vital for powering solar cells in commercial and national security satellites.
21 Mar 2024

5N Plus Uploaded a News Release
March 21, 2024

5N+ Patents Uniquely Positioned to Expedite First-to-Market Commercialization of Vertical GaN-on-Si Power Devices

5N Plus Inc. announced that it is officially launching the commercialization rights for its portfolio of gallium nitride on silicon (GaN-on-Si) patents that will take semiconductors and power switching technology to the next level. These key patents can enable the rapid prototype development and first-to-market commercialization of novel vertical GaN-on-Si power devices by companies operating in the High-Power Electronics (HPE), Electric Vehicles (EV) and Artificial Intelligence (AI) server sectors.

27 Feb 2024

5N Plus Uploaded a Earnings Report
February 27, 2024

5N Plus Reports 2023 Fourth Quarter and Annual Financial Results

Q4-23 and FY 2023 Highlights:

  • Revenue in Q4 2023 reached $65.1 million, compared to $61.0 million for the same period last year. The 7% increase is primarily attributable to higher demand in the Specialty Semiconductors segment, offset by lower revenue in the Performance Materials segment following the strategic exit from the manufacturing of low-margin extractive and catalytic products in 2022.
  • Net earnings in Q4 2023 were $2.3 million compared to a net loss of $8.1 million in Q4 2022. Net earnings in FY 2023 were $15.4 million compared to a net loss of $23.0 million in FY 2022.
  • Adjusted EBITDA in Q4 2023 was $9.0 million, a 35% increase over the $6.7 million for the same period last year. Adjusted EBITDA was $38.3 million in FY 2023, a 28% increase compared to $30.0 million in FY 2022.
  • Adjusted gross margin in FY 2023 was 29.0%, compared to 23.7% in FY 2022.
  • On December 31, 2023, the backlog represented 292 days of annualized revenue, 8 days higher than the previous quarter and 39 days higher than the same period last year, primarily due to increasing demand in both terrestrial renewable energy and space solar power.
27 Feb 2024

5N Plus Uploaded a Earnings Report
February 27, 2024

5N Plus Annual Information Form 2023

5N Plus releases its Annual Report for FY 2023. Please access the report in the link below.

20 Feb 2024

5N Plus Uploaded a Corporate Update
February 20, 2024

5N Plus Announces Q4 2023 Results Conference Call

5N Plus Inc. (TSX:VNP) will release its fourth quarter 2023 results after markets close on Tuesday, February 27, 2024 and will host a conference call the next morning, Wednesday, February 28, 2024 with financial analysts to discuss the results.

  • Wednesday, February 28, 2024 at 8:00 a.m. (ET)
  • Webcast available in the “Investors Center” section of www.5nplus.com
  • Dial-in: 1-888-664-6392 (toll-free) or 416-764-8659 (Canada)
  • Access code: 94847778

A playback will be available two hours after the event at 1-888-390-0541, access code 847778, until March 6, 2024.

21 Dec 2023

Arrowhead published an Equity Research Report on 5N Plus
December 21, 2023

5N Plus (TSX: VNP) Research Report

Arrowhead is updating its coverage on 5N Plus Inc. (“5N Plus”, “VNP”, or “the company”) with a fair value of CAD 4.4 per share in the low-bracket scenario and CAD 5.2 per share in the high-bracket scenario (share price on December 21, 2023: CAD 3.60), using the Discounted Cash Flow (DCF) methodology.

  • VNP’s wholly owned subsidiary, AZUR SPACE Solar Power GmbH (AZUR), supplied triple junction solar cells to RayGen, an Australian solar and storage company, for its flagship power plant in Carwarp, Victoria (Australia). AZUR’s high-efficiency solar cells served as a key component for RayGen’s proprietary solar technology, enabling RayGen to provide energy on a large scale with minimal environmental impact.
  • 5N Plus’ revenue came in at USD 62.9 mn in Q3 2023 as compared with USD 66.4 mn in Q3 2022, a decline of c. 5.1% on a Year-on-Year (YoY) basis. Adjusted EBITDA stood at USD 9.6 mn, showing a 5.5% YoY increase YoY, with adjusted EBITDA margin increasing to 15.3% from 13.7% in Q3 2022. It reported a net profit of USD 1.5 mn during the quarter, compared with a net loss of USD 7 mn YoY. The net debt stood at USD 78.6 mn at the end of Q3 2023, compared with USD 78.3 mn at the end of FY 2022.
  • Specialty Semiconductors’ revenue stood at USD 41.8 mn in Q3 2023, compared with 32.0 mn in Q3 2022, an increase of 30.6% YoY. This increase was driven by higher demand in strategic sectors such as space solar power and terrestrial renewable energy. Adjusted EBITDA for the quarter decreased to USD 4.7 mn in Q3 2023 due to the shift in AZUR’s revenue contribution from Q3 to Q4.
  • Performance Materials segment generated revenue of USD 21.2 mn, as compared with USD 34.4 mn in Q3 2022, due to the company’s strategic exit from the manufacturing of low-margin extractive and catalytic products in H2 2022 and divestiture of its Tilly, Belgium operations in Q4 2022. Adjusted EBITDA stood at USD 6.6 mn in Q3 2023, a 30% increase on a YoY basis, with adjusted EBITDA margin at 31% for the quarter as compared with 15% in Q3 2022.
  • Revenue from the Americas stood at USD 30.8 mn in Q3 2023, of which USD 28.8 mn was contributed by the US operations. Revenue from Europe was at USD 23.4 mn, compared with USD 26.6 mn in Q3 2022, with Germany being the highest contributor with revenue at USD 14.7 mn for the quarter.
8 Nov 2023

5N Plus Uploaded a News Release
November 8, 2023

5N Plus Reports 2023 Third Quarter Financial Results

  • Revenue in Q3 2023 reached $62.9 million, compared to $66.4 million for the same period last year. The slight decrease is primarily attributable to the Company’s exit from the manufacturing of extractive and catalytic products in the second half of 2022, largely compensated by increased demand in Specialty Semiconductors.
  • Adjusted EBITDA in Q3 2023 was $9.6 million, compared to $9.1 million for the same period last year. Adjusted EBITDA was $29.3 million YTD 2023, compared to $23.3 million YTD 2022.
  • Adjusted gross margin YTD 2023 was 29.1%, compared to 22.9% YTD 2022.
  • On September 30, 2023, the backlog represented 284 days of annualized revenue, 5 days lower than the previous quarter, and 92 days higher than the same period last year, primarily due to demand for terrestrial renewable energy and space solar power.
  • Net debt stood at $78.6 million as at September 30, 2023, compared to $78.3 million as at December 31, 2022.

Industries

  • Industrials

5N Plus is a leading global producer of engineered materials and specialty chemicals with integrated recycling and refining assets to manage the sustainability of its business model. The Company is headquartered in Montreal, Québec, Canada and operates R&D, manufacturing and commercial centers in several locations in Europe, the Americas and Asia. 5N Plus deploys a range of proprietary and proven technologies to manufacture products which are used as enabling precursors by its customers in a number of advanced electronics, optoelectronics, pharmaceutical, health, renewable energy and industrial applications. Many of the materials produced by 5N Plus are critical for the functionality and performance of the products and systems produced by its customers, many of whom are leaders within their industry.

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