General information

Sector: Oil & Gas

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 24.2% (average between last period year over year growth for revenue and EBITDA), there is acceleration compared to average historical growth rates (0.0%)
  • Dividend yield for the last twelve months 0.0%
  • Free cash flow yield -9.0% (LTM)
  • Share price is 378.5% higher than minimum and 14.5% lower than maximum for the last 3 years
  • The company is undervalued by EV / LTM EBITDA multiple compared to target level (-158.7x vs
    )

Key Financials

Share price, ZAR:  (0.0%)37.32
Share price, USD: 2.30
Common stocks: 135 048 232

Dividend Yield:  0.0%
FCF Yield LTM: -9.0%
EV / LTM EBITDA: -158.7x
Last revenue growth (y/y):  +48.4%
Last growth of EBITDA (y/y):  0.0%
Historical revenue growth:  +9.2%
Historical growth of EBITDA:  0.0%
Target EV / EBITDA (hist percentile):
EV / LTM EBITDA mutiple calculation
Market Cap ($m): 311
Net Debt ($m): 44
EV (Enterprise Value): 355
EBITDA LTM ($m): -2
EV / LTM EBITDA: -158.7x
Price to Book: 17.29x

Revenue and EBITDA

Semi-Annual values ($m)

Change (y/y)

Cash Flow

FCF / Free Cash Flow ($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

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