Hamworthy Share Discussion Threads

[alter ego] 03/8/2011 17:09

MHI have certainly been customers in the past and HMY have supplied water treatment/ desalination equipment for AIDA cruise ships (in 2008 and 2009). Note that this order is for Carnival (an existing HMY customer) not for Princess Cruises, they were just mentioned here as a previous customer of MHI. Fincantieri were most recently customers in June when HMY won an order to supply MBR's to two ships coincidentally being built for Princess Cruises.

I would be pretty confident about HMY getting work from this as they seem to have the cruise market pretty well sewn up given the track record and the continuous advances made in the technology.

Any chance we will see exhaust gas treatment too? Would be nice.

[piedro] 03/8/2011 16:38

Carnival Corporation & plc Orders New Ships for Its Costa Cruises and AIDA Cruises Brands
....
.... A memorandum of agreement has been signed with Japan's Mitsubishi Heavy Industries to build two 3,250-passenger ships for AIDA which are scheduled for delivery in March 2015 and March 2016. The all-in cost for these vessels will be approximately euro 140,000 per lower berth.
The order for the two AIDA ships marks a return by Carnival Corporation & plc to Mitsubishi Heavy Industries which built two highly successful ships for Princess Cruises, both of which were delivered in 2004. The contract with Fincantieri continues the company's longstanding and successful relationship with the Italian shipbuilder, which dates back nearly 20 years. .... ....


... hopefully Hamworthy will get an order.
Have they not done business with Mitsubishi HI and Princess Cruises in the past?

[piedro] 25/7/2011 12:43

North Sea breakthrough for Hamworthy pumps
Hamworthy has made a breakthrough in the North Sea, following an order covering its deepwell cargo offloading pumps and fire water pump system for a floating production storage and offloading (FPSO) vessel ordered by Teekay Corporation.
The company has secured the contract from Samsung Heavy Industries, where the newbuild FPSO will be constructed. Its CKL deepwell cargo offloading pumps will be delivered from Hamworthy's Svanehøj plant in Denmark, with the scope including 12 cargo, two slop, one skimming and two ballast pumps, electric motors and switchboards. .... ....

[piedro] 08/7/2011 23:59

Not too heavy reading .....
... and mildly on topic!

White Paper Number 11
July 2011
Reducing Greenhouse Gas Emissions from Ships
- Cost Effectiveness of Available Options

[peter27] 08/7/2011 16:49

with the innovative technology this company has got and its exposure internationally it must always be on someone's buying list!!

[honiton] 08/7/2011 16:18

quite. good day to buy, though.

BSY worth a punt on fundamentals.

[alter ego] 08/7/2011 16:00

it's got me bemused too. AGM is next week with trading update but I doubt that's the reason. Very extended on fundamentals.

[honiton] 08/7/2011 15:50

why the massive ramp up!

[piedro] 15/6/2011 20:15

Hamworthy to Supply Princess Cruises
Tuesday, June 14, 2011
Two vessels to be built by Fincantieri for Princess Cruises will become the latest luxury cruise ships to feature Hamworthy's Membrane BioReactor (MBR), the technology designed to meet wastewater discharge requirements in even the most sensitive of seas. Each 3,600 passenger capacity, 141,000gt 'Ruby Evolution' class ship will be fitted with two Hamworthy MBR24 systems, to enable responsible operations anywhere in the world. With the delivery date for the first vessel due in spring 2013, the first two MBRs will be delivered in August 2011, for installation/commissioning by December 2012. The second vessel is due to be delivered in spring 2014 with equipment delivery in May 2012 and installation/commissioning by December 2013.
To date, Hamworthy has supplied over 100 MBR units to a range of new and existing cruise ships, ferries, offshore rigs, naval ships, and yachts since their introduction in 2000.

[gbb483] 15/6/2011 09:53

X div today and the price hasn't dropped.

[etarip] 14/6/2011 17:32

Peter:

someone else is buying

[peter27] 13/6/2011 20:33

all those sells today and stilll the price went up! what does that mean?

[mdrans1] 11/6/2011 12:41

today's FT sounding positive :-

[honiton] 09/6/2011 21:41

up again...encouraging.

also like QED, CRM and SHB.

[piedro] 08/6/2011 11:32

They may be right! - looking at the chart of 'Revenue vs. Costs', the downward trend could still continue as the second half of the HMY year, ['H1' - October-March], has always shown a rise in revenues (and costs)!

[noshy] 08/6/2011 10:52

Tempus in todays Times advises long term holders to take profits

[alter ego] 08/6/2011 09:02

I see Numis have new EPS forecasts of 28.6p for 2012 and 34.1p for 2013. Even these I suspect will prove conservative.

[alter ego] 07/6/2011 18:09

qvg, I know HMY have been looking for suitable acquisitions for some time but haven't been prepared to overpay. The tone of the results statement suggests they have found more than one business at an acceptable price and are at a more advanced stage than just looking around.

Even without earnings enhancing acquisitions I see reasons to believe earnings will be substantially higher this year. Time of course will tell but there is momentum in the business, some large orders have gone through, they have been recruiting in most parts of the business and some important new products are appearing.

Having held HMY for many years and followed closely, I'm very happy with today's news and looking forward to better times.

[qvg] 07/6/2011 13:35

alter ego, yes, I agree. My main reason for thinking they will go higher is that they probably do not include any acquisitions - the announcement seemed to me to be saying that there will be a significant acquisition soon.

[piedro] 07/6/2011 13:24

What a good lousy year - LOL
Congratulations to all who kept their faith.

[alter ego] 07/6/2011 13:08

I reckon these are very cautious estimates, marginally higher revenue and eps when we know there's £152.8m 2012 revenue already "baked into" the closing order book. Higher revenues should also lead to higher margins which don't seem to be in the estimate for eps. I would not be surprised if these forecasts get revised up substantially as the year proceeds.

[qvg] 07/6/2011 12:59

Yes, Collins Stewart have raised their Target price to 678p

UK | Industrial Engineering | HMY.L | HMY LN 7 June 2011
Recommendation BUY
Price 566p
Awash with cash in the dash for gas
Target 678p
Order book turnaround the next catalyst for share price appreciation Quest™ value (adj) 678p
Yr to Mar £m 2010A 2011A 2012E 2013E 2014E
Sales 214.3 181.6 210.0 235.0 252.5
EBITDA 22.6 16.0 16.5 19.5 20.4
adj. EPS (p) 33.3 24.1 24.3 29.4 31.0
EV/EBITDA (x) 8.1 10.8 9.6 7.6 6.7
P/E (x) 17.0 23.5 23.3 19.3 18.2
Div. Yld (%) 1.6 1.8 2.0 2.2 2.4

[noshy] 07/6/2011 10:46

excellent news and the markets like it as well

[alter ego] 07/6/2011 07:24

results out look excellent plus this in the outlook

"Order intake for original equipment has recovered strongly, strengthening the order book at the year end and providing improved visibility of future revenues. In addition, our Aftersales business continues to perform well. As a result the Board now believes its previous expectations for the financial year ending 31 March 2012 will be significantly exceeded."

should be well received.......