Clean energy stocks slip off the high road

The performance of the Australian CleanTech Index fell below the benchmark ASX for the first time in seven months in February, with biofuels and water the biggest drags.

The ACT Australian CleanTech Index fell in February 2014 and underperformed both the S&P ASX200 Index and the S&P Small Ordinaries.

The ACT Australian CleanTech Index fell from 39.3 to 38.4 over the month of February recording a 2.2 per cent loss. This compared to the S&P ASX200 gain of 4.1 per cent and the S&P ASX Small Ordinaries Index gain of 4.4 per cent. The Australian CleanTech 20 recorded a slightly worse result with a loss of 2.3 per cent.

The ACT Australian CleanTech Index ended its seven-month run of outperformance against its benchmarks although still remains ahead over the last six and 12 months. Over the last six months it is still running 6.1 per cent ahead of the ASX200.

The best performing sub-indices for the month were the ACT Geothermal Index with a gain of 1.2 per cent and the ACT Waste Index with a loss of just 0.6 per cent.

The two weakest sub-indices through February were the ACT Biofuels Index (as usual) which recorded a loss of 9.7 per cent and the ACT Water Index recording a loss of 4.5 per cent.

Graph for Clean energy stocks slip off the high road

The market capitalisation of the 66 stocks in the ACT Australian CleanTech Index is $11.9 billion falling from its peak of $16.3 billion in July 2007 but up from its low of $6.2 billion in July 2012.

The month’s performance was driven by 16 companies with losses of more than 10 per cent. The
greatest losses were recorded by Australian Renewable Fuels (ARW), Ceramic Fuel Cells
(CFU) and Hot Rock (HRL).

These losses were partially offset by 14 companies recording gains of more than 10 per cent led by
Mission NewEnergy (MBT), Enerji (ERJ) and Soil Sub Technologies (SOI).

These best and worst performers are shown in the table below.


Graph for Clean energy stocks slip off the high road

John O’Brien is managing director of Australian CleanTech.

The ACT Australian Cleantech Index is published each month on the Australian CleanTech website at www.auscleantech.com.au, in the Ethical Investor magazine, WME’s Environmental Management News, the Clean Energy Council website, the SIM Venture Securities Exchange website and the London-based Cleantech Investor.

Monthly results can be emailed directly to interested parties by signing up to the distribution list at http://www.auscleantech.com.au/Pages/cleantech.html.

For a full listing of all companies included in the ACT Australian CleanTech Index, please email your request to index@auscleantech.com.au.