@Boroboy,
I do agree and noticed the difference in the presentation styles. One is a pretty hard nose water veteran and one is a venture capitalist. Richard is well versed in speaking to financial analysts, shareholders, fund raising pitches. He also has experience hosting XTC 2020 Bootcamp. As for Tom, an army general or a field marshal type, no nonsense guy. Perhaps Tom is still more focused on running the business than on investor relation.
As for guidance, I was wondering why there is no bookings and backlogs mentioned apart from the remaining 9% (euro16M) in Ivory Coast. I believe this is the nature of the SPS, the projects from bookings to completion can be done within months. An example is a tender notice recently from Hubei for 2 toll collection points and 1 rest stop at a section at Xiaohanying Expressway, specified only MABR as the treatment technology (AHEM!!), total construction including wastewater treatment to be completed within 150 days. Effectively, the turnaround for us as equipment supplier could even be shorter. Maybe a better gauge is to see how many shifts our Changzhou factory is running. Our 1 line as what Richard had pointed out before could fulfill $100M of business, now if our SPS plus RR is hitting $75-80M this year, assuming equal contribution from MABR, Nirobox and waste to energy, the factory should be running 1 shift almost full time. Membrane production in USA would be another milestone to provide MABR there in a bigger way.
As for the confidence of the forecast increase of 65%, RR alone is $9.7M this year. A one quarter contribution of O&M from Ivory Coast could yield $2-2.5M; more parts and chemical supplied to the South American, Egyptian, and Italian operations would add more to RR. The more projects we finished, the more chances of our continuous servicing.
As for SPS, I think China's operation alone is one we can't ignore. Projects that were delayed during the Covid restriction era don't get terminated, they will still need to proceed, and this year could see a post covid indulgence of capital spending in China. I think China and Asia outside China is still the low hanging fruits for innovations like our MABR products. Caribbean seems a bit faster than USA mainland. Hopefully we hear a bit more from USA from May onwards.
May be there is a bit of leap of faith there, I am still taking comfort by continuing to scour the net to look for news to corroborate info from the company.
