Harland & Wolff Share Discussion Threads

[millennialinvestor] 07/5/2024 14:25

They are offering free helicopter upgrades to those who had booked for May, sounds cheap.

[xenor] 06/5/2024 12:48

JakNife, the issue is what happens to their finances when they no longer have a monopoly on their core product (Scilly ferry route) and have to pay the giant loan they just signed up for? Their finances certainly do look healthy now, but will they in 12 or 24 months time? That's the gamble here, that HARL out competes them and IOSSC can't pay their loan.Not saying I agree with it, it's not the right time to be making such moves in my view, and the delays to actually starting the ferry service aren't helping.

[jaknife] 06/5/2024 12:25

The IOSSC accounts can be found here:



Take the 31 March 2023 accounts, for example:

* £2.5m post-tax profit
* Net assets of £15.9m of which £13.2m is cash
* Given 1,455k shares in issue that equates to a NAV per share of £10.93 and £9.07 of cash per share
* cf the last auction matched a price of £3.90 a share:


This is a consistently profitable company with a strong balance sheet.

And donkey John thought that he could take them over with an offer of 316 pence per share!

What a donkey!

JakNife

[loglorry1] 06/5/2024 08:22

IOSSC accounts are pretty healthy. Go look at them. They have no intention of taking HARL worthless paper.

HARL have no cash for anything let alone these daft projects. It's just JW trying to deflect from the fact they have no finance.

[xenor] 06/5/2024 00:59

Yes I think some focus on the core business would be welcome as we don't have cash to splash on new markets right now. The Scilly ferries has been a distraction, though the freight side of it looks lucrative at least. Not so sure about the passenger side of it unless it ultimately does end up with IOSSC going bust and HARL taking the monopoly. In the meantime I suspect the profits from the freight will be subsidising the passenger side, so hopefully it's at least a break even project.

[si derman] 05/5/2024 09:43

I thought similar when I bought in ten years ago, tbh. Very early stage, one could say. And oddly enough at 13p. :)Certainly been loss making, that's for sure.
Anyway, I don't think you will see break even, let alone profits, until JW stops finding new avenues to expand into that require even more capex and funding.
IMO, but, we'll see.

[xenor] 04/5/2024 21:22

If I didn't think this company had the potential to generate big profits in the coming years I wouldn't stay invested.I don't mind early stage loss making companies with debt if A) the debt is manageable and B) there's a clear route to profitability.Whilst there is uncertainty around A until the new financing is announced, I see plenty evidence of B. I expect 2023 losses to be a lot less than 2022, and 2024 to be a lot less than 2023 and close to breaking even. I then expect profits from 2025. If that doesn't happen then the investment case here changes in my view.One thing is for sure, is that when HARL does post its first profit the share price is going to be nowhere near 13p. The risk is priced in currently.

[owenski] 04/5/2024 11:16

Revenue isn't profit.

[sonofapeach] 04/5/2024 10:28

IM wasn't shovel-ready, it didn't have a marine licence, because someone forgot to apply for it, allegedly!

[xenor] 04/5/2024 10:18

IM was shovel ready years ago, JW clearly didn't know that protestors would stall it for years in red tape. Let's say that didn't happen... How do you think INFA would have funded this with no revenue, without massive dilution? Have you seen how junior miner/oilers fund their projects? That's what would have happened here. You got ramped in on a big spike as is common with oil, gas and mining stocks.Clearly even the HARL incarnation hasn't been great so far given the debt and losses, but I doubt you would be complaining if the company was profitable and the share price was going up. Should be profitable in 2025 with added FFS revenue, if it isn't then even I will start having doubts.

[sonofapeach] 04/5/2024 09:16

Si,
If I try to post, I get the following message:
"Your account has been suspended from posting on this forum permanently".
As I posted previously, I did try to set up a new account (with my current ADVFN user-name, for those reading!), using an alternative email address. I received a verification email link, which I followed, then when I tried to log in, both my new user-name and alternative email address were unrecognised. It seems someone really doesn't want me posting on that forum... Oddly, I can still recommend posts by others.
My colleague is back in Belfast, to work on the SeaRose. H&W staff had no idea what was going on, they assumed he was there to work on the Braemar (interesting that they referred to the vessel by her former name). It was he who gave me the numbers relating to SeaRose, some of which I posted on the other forum. Nothing I posted could possibly have been considered inside information, other than discrediting the BS spouted by both JW and most of the posters on said forum.

[si derman] 04/5/2024 08:59

Morning.Bp,spud. Sorry, for some reason I missed your response last night BP.Are you certain it's a total ban and not just a temporary one? Have noticed people go quite for a few days after being reported by a lot of posters for... well, could be anything tbh if they get the crowd behind them.Normally when someone gets an outright ban all their previous posts are removed. If they are using IP adresses to filter people how come the dog can keep re-appearing under another guise.Does the use of a VPN circumvent that issue. Anyway lets hope for a spike so you can re-coup some of that "potential" loss. Was there myself, for years. Kept adding to average down until i grabbed the chance to get out with a decent profit on the FSS spike leaving some in on a free carry. Have played it safe since. Good luck with your choices.

[sonofapeach] 04/5/2024 08:26

Spud,
I am not certain, but it looked to me like my thread had been deleted for a while, but it is visible now.
Xenor, I believed the lie that IM was "shovel-ready", which made it a solid investment case. To my shame, I hadn't done my due diligence on JW...

[spudtheplumber] 04/5/2024 08:17

Ignore that!The thread is still there

[spudtheplumber] 04/5/2024 07:28

Looks like last night's thread ,about your banning on lse, has been removed BP

[owenski] 04/5/2024 07:22

Isn't this just a bigger version of MSC Europe which also had 'big name' contracts and went bankrupt.

[jaknife] 03/5/2024 22:48

We're much friendlier here and more welcoming of dissenting views!

[sonofapeach] 03/5/2024 22:42

Yes, thanks JakNife, I am not familiar with ADVFN's format.

[jaknife] 03/5/2024 22:37

SonOfAPeach,

"Gosh, another post deleted on here! I guess I am persona non grata everywhere..."

I don't think that your post has been deleted, it's just disappeared off the top of the screen:



Click "Previous" to scroll back upwards.

JakNife

[sonofapeach] 03/5/2024 22:29

I doubt JW would have been able to pay himself and his chum a million quid a year, plus pay his "brother" around £400k for a day's use of his fishing boat, had he not "acquired" Belfast.

[sonofapeach] 03/5/2024 20:24

Gosh, another post deleted on here! I guess I am persona non grata everywhere...