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General information

Sector: Oil & Gas

The company is not available at Interactive Brokers

Renergen (JSE:REN) is an emerging producer of helium and liquefied natural gas (LNG), with existing production and sales of compressed natural gas (CNG). 

Renergen’s principal asset is its 100% shareholding in Tetra4, which holds the first and only onshore petroleum production right (issued by the The Department of Mineral Resources and Energy (DMRE)) in South Africa, giving it first mover advantage on distribution of domestic natural gas. The company's Virginia Gas Project is located in the Free State, approximately 250 km southwest of Johannesburg.

Renergen's natural gas contains one of the richest helium concentrations recorded globally. The natural gas is also very pure with an average of over 90% methane, and almost zero higher alkanes, which reduces the complexity of liquefication. Furthermore, its natural gas offers a less carbon-intensive substitute for South Africa’s existing transport fuel, thermal fuel and power.



  • Good financial results growth rate 250.0% (average between last period year over year growth for revenue and EBITDA), there is acceleration compared to average historical growth rates (0.7%)
  • Dividend yield for the last twelve months 0.0%
  • Free cash flow yield -32.3% (LTM)
  • Share price is 14.1% higher than minimum and 74.1% lower than maximum for the last 3 years
  • The company is undervalued by EV / LTM EBITDA multiple compared to target level (-43.7x vs
    )

Key Financials

Share price, ZAR:  (+3.7%)11.30
Share price, USD: 0.5957
Common stocks: 147 706 422

Dividend Yield:  0.0%
FCF Yield LTM: -32.3%
EV / LTM EBITDA: -43.7x
Last revenue growth (y/y):  +500.0%
Last growth of EBITDA (y/y):  0.0%
Historical revenue growth:  +147.1%
Historical growth of EBITDA:  0.0%
Target EV / EBITDA (hist percentile):
EV / LTM EBITDA mutiple calculation
Market Cap ($m): 88
Net Debt ($m): 52
EV (Enterprise Value): 140
EBITDA LTM ($m): -3
EV / LTM EBITDA: -43.7x
Price to Book: 1.94x

Revenue and EBITDA

Semi-Annual values ($m)

Change (y/y)

Cash Flow

FCF ($m)

Net Debt / Cash and Equivalents ($m)

Share price and dividends (Download history)

Share price

Payment ZAR per share

Multiple and potential

EV / EBITDA

Potential dynamics

TechCentral Headlines

South Africa’s Renergen patents helium-cooled cases for Covid-19 vaccines

Renergen has patented cryogenic cases that can keep vaccines at ultra-cold temperatures for 30 days, a potential way of getting some of the first coronavirus shots to be approved to remote areas.

2020-12-10 07:13 +02:00
by Loni Prinsloo

JSE:AVI JSE:REN

Reuters Headlines

S.Africa`s Renergen to start production of ultra-cold COVID-19 vaccine storage

South African natural gas and helium producer Renergen will start production of its helium powered ultra-cold mobile freezer in the next few days and has started discussions to sell the units to logistics companies, it said on Monday.

2021-02-16

JSE:AVI JSE:REN JSE:ARH JSE:ISA

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Releases

2022-08-10
Central Energy Fund Due Diligence Successfully Completed On R1bn Investment
2022-07-15
Ivanhoe Transaction Update
2022-07-11
Successful Introduction Of Gas To Plant
2022-06-30
Quarterly Activities Report
2022-06-30
Gandalf Strikes Gas And Plant Progress
2022-06-17
Results of the Annual General Meeting
2022-06-17
Broad-Based Black Economic Empowerment Act: Annual Compliance Report
2022-06-06
US$500 Million Debt Retainer Letter Signed for Phase 2 Operations at Virginia Gas Project
2022-05-30
Plant Commissioning Progress
2022-05-20
Dealing in Shares by Prescribed Officers
2022-05-19
Abridged Annual Financial Statements, Distribution Of Integrated Annual Report And Notice Of Annual General Meeting
2022-05-03
Australian Stock Exchange Appendix 4E - Preliminary Final Report
2022-05-03
Cold Boxes Being Pre-Cooled In Preparation For Gas
2022-04-26
Trading Statement
2022-04-12
Commencement of Hot Commissioning
2022-04-04
Appointment of Director
2022-04-01
Quarterly Activities Report
2022-03-31
Early Success in Production Drilling Programme
2022-03-31
CANCELLATION OF S459257 Early Success in Production Drilling Programme
2022-03-31
Early Success in Production Drilling Programme
2022-03-28
Central Energy Fund to Invest R1bn in Virginia Gas Project
2022-03-14
Notice of Change of Substantial Holder
2022-03-14
Renergen Progresses Funding for Phase 2 Helium/LNG Development with Initial Placement and Complementary Strategic Pa
2022-03-14
Renergen - Trading Halt on ASX
2022-02-03
Renergen Announces Liquefied Natural Gas (“LNG”) Supply Agreement to Ceramic Industries (Pty) Ltd

SENS Announcements

2024-03-28
Renergen Quarterly Update
2024-03-20
Completion of conditions of investment by Airsol S.r.L
2024-02-29
Dealings In Shares By Directors
2024-02-21
Change In Substantial Shareholdings
2024-02-15
LNG Deliveries Commence And Helium Operational Update
2024-02-05
Fulfilment Of Conditions Precedent
2023-12-29
Renergen Quarterly Update
2023-12-27
Subscription Of Shares In Tetra4
2023-10-31
Reviewed Interim Consolidated Financial Statements for the Six Months Ended 31 August 2023
2023-10-27
Trading Statement
2023-10-16
Company Information Clarification
2023-10-06
Investor Update
2023-09-29
Renergen Quarterly Update
2023-09-01
Dealing In Shares By An Associate Of A Director Of A Major Subsidiary
2023-08-31
Dealings In Shares By Directors
2023-07-31
Results Of The Annual General Meeting
2023-07-05
Dealings In Shares By A Director Of A Major Subsidiary Of The Company
2023-06-30
Distribution Of Integrated Annual Report, Notice Of AGM And B-BBEE Affidavit
2023-06-26
US DFC Congressional Notification Process Complete
2023-06-26
Renergen Quarterly Update
2023-06-07
Phase 2 Senior Debt Approval
2023-05-31
Abridged Audited Consolidated Annual Financial Statements For The Year Ended 28 February 2023
2023-05-02
Australian Stock Exchange Appendix 4E - Preliminary Final Report
2023-04-26
Trading Statement
2023-04-11
Results of the General Meeting
2023-03-31
Renergen Quarterly Update
2023-03-08
Phase 2 Guidance Note
2023-03-08
Distribution of Circular and Notice of General Meeting
2023-03-07
Disclosure Of Acquisition Of Securities
2023-03-06
Disclosure Of Acquisition Of Securities
2023-03-01
Clarification Announcement
2023-03-01
CANCELLATION OF S472140 Share Consolidation (Late Announcement)
2023-03-01
Share Consolidation (Late Announcement)
2023-02-07
Successful Accelerated Bookbuild Offering
2023-02-07
Accelerated Bookbuild Offering
2023-02-06
Changes To The Board Of Directors
2023-01-31
Phase 2 Funding Process And Potential US IPO
2023-01-23
Liquid Helium From Virginia Gas Project
2022-12-30
Renergen Quarterly Update
2022-11-22
Successful Capital Raise
2022-11-15
LNG Back In Production With Helium To Follow
2022-11-09
Lift Of Trading Halt On ASX
2022-11-08
Clarification In Relation To Trading Halt On ASX
2022-11-01
Dealings In Shares By Prescribed Officer
2022-10-31
Dealing In Shares By Associate Of A Director
2022-10-28
Reviewed Condensed Consolidated Interim Financial Statements For The Six Months Ended 31 August 2022
2022-10-26
Plant Update
2022-09-30
Renergen Quarterly Update
2022-09-05
Renergen Switches On Virginia Gas Plant
2022-08-31
Dealings In Shares By Director Of A Major Subsidiary
2022-08-17
Notification Of Change In External Auditor
2022-08-10
Central Energy Fund Due Diligence Successfully Completed On R1bn Investment
2022-07-15
Ivanhoe Transaction Update
2022-07-11
Successful Introduction Of Gas To Plant
2022-06-30
Quarterly Activities Report
2022-06-30
Gandalf Strikes Gas And Plant Progress
2022-06-17
Results of the Annual General Meeting
2022-06-17
Broad-Based Black Economic Empowerment Act: Annual Compliance Report
2022-06-06
US$500 Million Debt Retainer Letter Signed for Phase 2 Operations at Virginia Gas Project
2022-05-30
Plant Commissioning Progress
2022-05-20
Dealing in Shares by Prescribed Officers
2022-05-19
Abridged Annual Financial Statements, Distribution Of Integrated Annual Report And Notice Of Annual General Meeting