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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Harland & Wolff Group Holdings Plc | LSE:HARL | London | Ordinary Share | GB00BLPJ1272 | ORD 1P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| 0.25 | 1.96% | 13.00 | 624,182 | 09:00:01 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| 12.50 | 13.50 | 13.00 | 12.75 | 12.75 | |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Natural Gas Transmis & Distr | 27.97M | -70.36M | -0.4066 | -0.32 | 22.5M |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| 16:27:38 | O | 16,122 | 12.97 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 06/3/2024 | 13:57 | ALNC |  Harland & Wolff inks GBP3 million subsea contract with oil firm |
| 06/3/2024 | 07:00 | UK RNS | Harland & Wolff Group Holdings PLC New Contract Win - Arnish |
| 05/3/2024 | 17:09 | ALNC | EARNINGS AND TRADING: Harland & Wolff wins major Falklands contract |
| 05/3/2024 | 07:00 | UK RNS | Harland & Wolff Group Holdings PLC Preferred Bidder Award |
| 25/1/2024 | 11:15 | UK RNS | Harland & Wolff Group Holdings PLC Change of Nominated Adviser and Broker |
| 29/12/2023 | 10:14 | ALNC | Harland & Wolff gets approval for UKEF GBP200 million credit facility |
| 29/12/2023 | 07:00 | UKREG | Harland & Wolff Group Holdings PLC Update re. New Credit Facility |
| 21/12/2023 | 16:34 | ALNC | Harland & Wollf rules out move for Isles of Scilly shipping operator |
| 21/12/2023 | 09:50 | UKREG | Harland & Wolff Group Holdings PLC Update re. Possible Offer |
| 30/11/2023 | 16:45 | ALNC | Harland & Wolff says accounting change could see some revenue deferred |
Harland & Wolff (HARL) Share Charts1 Year Harland & Wolff Chart |
|
1 Month Harland & Wolff Chart |
Intraday Harland & Wolff Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 26/4/2024 | 20:56 | H&W...PIONEERING TWENTY-FIRST CENTURY OFFSHORE AND MARITIME ENGINEERING | 5,014 |
| 13/3/2024 | 15:53 | Skeppy | 10 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|---|---|---|---|
| 2024-04-26 15:27:39 | 12.97 | 16,122 | 2,091.02 | O |
| 2024-04-26 15:24:26 | 12.97 | 2,200 | 285.34 | O |
| 2024-04-26 15:16:13 | 13.50 | 10 | 1.35 | O |
| 2024-04-26 15:16:13 | 12.50 | 160 | 20.00 | O |
| 2024-04-26 15:16:13 | 13.50 | 20 | 2.70 | O |
| Top Posts |
|---|
Posted at 26/4/2024 09:20 by Harland & Wolff Daily Update Harland & Wolff Group Holdings Plc is listed in the Natural Gas Transmis & Distr sector of the London Stock Exchange with ticker HARL. The last closing price for Harland & Wolff was 12.75p.Harland & Wolff currently has 173,047,211 shares in issue. The market capitalisation of Harland & Wolff is £22,496,137. Harland & Wolff has a price to earnings ratio (PE ratio) of -0.32. This morning HARL shares opened at 12.75p |
Posted at 22/4/2024 11:36 by jaknife Xenor,"I don't have a problem with the debt. What matters to me is whether thst debt can be serviced." What do you think that it means to "service" a debt? I would offer two sensible options: 1. Repay the interest as it falls due and an element of the capital, such that the entire loan is repaid by the maturity date. 2. Repay the interest as it falls due and the entire capital on the maturity date. HARL meets neither definition, in particular HARL can't even pay the interest and hence has to add the interest to the principal (aka "PIK" the interest, where "PIK" means Pay in Kind). Hence the debt just gets bigger (at 15% per annum I believe). If you search online you will find that there is an investment concept known as the "debt-service coverage ratio", eg: In the case of HARL this is a negative number, implying that HARL cannot service its debt. I write the above because I thought that it was accepted common ground that HARL CANNOT "service" its debts!? Indeed HARL needs another lender to lend money to it so that HARL can then pay off Riverstone. That is nothing like "servicing" the debt! I have yet to convince you that lending money to a client so that the client can then to pay off another bank is a complete anathema to the sensible banker. But I live in hope! JakNife |
Posted at 22/4/2024 09:50 by jaknife Keepdigging,"Simple maths, yards cost over £14MM, investment from FSS contract £77MM, equip bought by Harl to conduct BAU unknown,five vessels, new Marine arm costs unknown, Aqua Jet renamed Atlantic Wolff, costs unknown,Island Magee value estimated minimum £30MM without marine licence, win this appeal and end of the road for FOE & assest price flies North." I invite you to actually look at the accounts (it's a novelty I know!): The total fixed assets are £56.8m of which £12.6m are intangibles and £17.6m are subject to lease; hence, whilst you write the above, the accounts only actually show £26.7m of "investment". Indeed, if you look really closely you will find the "Shareholders' funds" section and see that "total equity" (ie that amount that the accounts suggest would be left over for shareholders after all the liabilities are repaid) is negative to the tune of £79.9m. So the point is that you claim lots of "investment" but the reality of the matter is that the accounts show an immaterial number for "investment" and then show a surfeit of liabilities relative to assets. So fundamentally there is a black hole at the centre of HARL's balance sheet equal to £80m. And that black hole keeps on getting bigger because HARL is (a) making losses, and (b) forecast to continue to make losses. * HARL's own broker (and nomad), Cavendish, forecast that HARL made a further loss in H2 of 2023 of £14m (full-year forecast loss is £45.5m - H1 loss was £31.5m) and hence the blackhole was c. £94m at the end of 2023. * And Cavendish forecast that HARL will make further losses in the current 2024 year of £23.5m! Hence at the end of 2024 the blackhole will have grown to c. £117m! Pray tell us, what exactly is the "rosy picture" that you want us to see, when we look at HARL's accounts, other than a huge vacuous deep black hole?! JakNife |
Posted at 09/4/2024 00:15 by john mcinnes wood The banks will be taking charge of HARL when the finance deal is announced, existing shareholders will be leaping for the lifeboats when they are diluted into oblivion.I was checking on last year's REACH RNS's not a single update since, just a JW share pumping exercise - No great surprise there. Navantia are offering more updates on the FSS contract than HARL, I wonder why that might be? IM, the old shovel ready project, not worth tuppence now, the future is with renewable energy not the storage of fossil fuels, doubt very much bankers with an ounce of ESG would be getting involved in such projects. Not helped by the price of gas tumbling over the last year. The whole project is 10 years too late. Riverstone look like a better investment, charging HARL 19% on $100m, cracking deal that turned out to be. Barclays also having a charge on assets deepens the gloom over this once mighty company. |
Posted at 12/3/2024 09:57 by jaknife millennialinvestor,"JakNife would you say the financial situation here is similar to that of Cineworld?" It's certainly on a par with Cineworld. Cineworld needed a material debt for equity swap in order to free itself from the burden of the excessive debt that it had. There was no sensible scenario under which Cineworld could ever have repaid its debt. But CINE completely wiped out existing shareholders to achieve that and a "New Cineworld" was created where only the former lenders were shareholders. HARL needs a debt for equity swap as well. There's no hope that it might generate the profits/cash to repay the debt and instead management intend to replace the debt burden with an even greater debt burden that HARL still won't be able to repay. That doesn't make sense, what HARL really needs is a debt for equity swap to remove the burden of its excessive debt. However, I can't imagine a scenario where Riverstone would want to completely eliminate existing shareholders and remove HARL from the UK market in the same manner that CINE did. JakNife |
Posted at 06/3/2024 07:06 by skinny Harland & Wolff Group Holdings plc (AIM: HARL), the UK quoted company focused on strategic infrastructure projects and physical asset lifecycle management, is pleased to announce that it has signed a five-year Master Services Agreement for the fabrication of large structures with a global oil services company supplying subsea infrastructure across the major hydrocarbon basins around the globe.The Company has now received its first purchase order under that agreement to fabricate six subsea structures with a contract value of approximately £3 million. These highly specialised structures are used in oil and gas platforms and the surrounding infrastructure, capable of withstanding pressures of 430 bar (6,235 psi) and as such are mission critical parts. These structures will be built over the next 18 months at the Company's Arnish site in a staged delivery programme with an expected completion date in H1 2025. John Wood, CEO of Harland & Wolff Group Holdings commented: "I am delighted that Arnish is recognised as a centre of excellence to deliver critical subsea infrastructure. This contract marks a significant step for the Company and builds on the highly technical work the yard has already undertaken on suction anchors, piles and the work it is currently performing for the Sea Rose FPSO Contract. These specialised subsea structures are a new product area for Harland & Wolff and we expect that successful delivery of this contract will open up significant opportunities for additional contracts in subsea infrastructure going forward." |
Posted at 05/3/2024 12:08 by jaknife seagreen,"BEN did me proud then the price of coal colapsed no position" And yet you defended BEN and attacked me here: When the BEN share price was a mere 15p. Are you now saying that our BEN debate has finished? That you've changed your mind from what you (rudely) wrote on 1 October? "HZM I had £100 worth and bailed after the last RNS" Let us remove HZM from the scoreboard, I don't like even numbers, this leaves just the three. "The other two are similar in that they have excellent order books and it should not be beyond the bankers to come up with a solution to provide liquidity they are fundamentally good businesses that need tight cost control. In return in all seriousness why are they both winning mega contracts of size if there was a real posibility of them struggling to make ends meet ...just does not make sense to me. I would have thought the risk reward lies with the patient small long position where as if either provides they have liquidity solutions you could lose a packet You seem to be basing a lot of your judgement that the CEO's are not honest and/or the clients are stupid and have not done their DD." Petrofac What is it about Petrofac's $1bn of losses accumulated over the last nine years and the losses that are forecast for 2024 that makes you think that its order book is "excellent"? What is it about the negative tangible book value, looming April bank debt repayment and the company's admission (this am) that it is in negotiations with its banks and bondholders that makes you think that their balance sheet is anything other than a disaster zone? HARL What is it about HARL's track record of losses every year that it's been listed AND the expected losses for 2023 AND the forecast losses for 2024 that makes you think that its order book is "excellent"? What is it about the huge gaping blackhole in HARL's balance sheet, and the fact that it has been in discussions with various banks since November 2022 about refinancing its debt and still hasn't been able to achieve that, which makes you think that HARL's balance sheet is anything other than a nuclear disaster area? I sometimes find it quite incredible that shareholders can't see what is plainly right in front of their eyes! For the moment I will accept that you have conceded defeat on BEN and mark the scorecard at 1-0 with the Petrofac and HARL games yet to finish. JakNife |
Posted at 15/1/2024 10:44 by jaknife The issue with the banks was that they were too big to fail so they couldn't be left to descend into insolvency. But did the government really "bail out" shareholders? Government put fresh money in at super low share prices, which recapitalised the businesses but shareholders were still sat on thumping losses (and still are to this day).*IF* the government did the same here then the equivalent would be to put fresh equity in at say 10p a share. But HARL is technically insolvent as at 31 Dec 2023 by about £95m (it was c. £80m at 30 June 2023 and they were forecast to lose £15m in H2). To repair the balance sheet the government would need to subscribe for at least 950m shares at 10p each! And that would make the Government an 85% shareholder! But the day after that money arrived HARL are proposing to send all of it to Riverstone to pay them off! So it would be Riverstone that would be getting bailed out! And then where's the cash that HARL would need for working capital? If the best case scenario for shareholders is a 10p bail out by the Government then that's not exactly a compelling investment story! JakNife |
Posted at 11/1/2024 16:43 by xenor I think it's hilarious that people like JakNife accused JW of lying. If we want to talk about integrity then let's look at the integrity of ShareProphets.It was only recently his blog was posting articles that open with:"Shorter Tim Kempster says that by his sums Harland & Wolff (HARL) runs out of money either in December or early January."I can't even find the one from "Evil Banksta" from a month or two earlier stating the company is imminently running out of cash by the end of 2023. I suspect it got deleted. Interestingly a lot of their older articles on HARL seem to have vanished.Looked at their Twitter account and filtered by the #HARL hashtag and it appears they have a history of deleting tweets (and probably articles) that they get wrong. There's only two posts about HARL between July and today. Expect the one by Tim to be removed soon. |
Posted at 24/10/2023 09:02 by ramlamb wiltowin 08.31 - 'Put your money in a savings account for your poultry returns' I am saving for a Christmas turkey is that my poultry return?Considering HARL share price has plummeted 26% this year it is better to have a PALTRY return than none at all. |
Posted at 24/10/2023 00:26 by jaknife wiltowin,"Total contracted revenue for the next seven years sits at £1 billion in total, up £100 million since March." That revenue is going to be earned over that 7 years so basically what you're highlighting is that there's expected revenue of about £143m a year for 7 years. People have been suggesting a gross margin of 20% on that revenue so (notwithstanding that historically the company has never achieved anywhere close to a 20% gross margin) let's run with that and assume a gross profit of £28.6m (20% of £143m). From that you need to deduct administration costs. If you look at the last results: admin costs last year were £53.4m and the year before that they were £24.7m. let's make a miraculous assumption and assume that they can get the admin costs back down to £25m as they were in 2021. That leaves a profit of £3m. Then you need to factor in the finance costs (interest). Last year they were £12.3m and HARL is proposing to double its debt so we need to pencil in something like £25m per annum. That leaves forecast losses of £22m a year. Can you see the problem yet? Wise investors remember the phrase: revenue is vanity, profit is sanity but cash is king. HARL may have lots of revenue on its way but historically it's had pathetic margins. Even if heroic assumptions are made about margins then the admin costs and interest are going to wipe out the gross profits and leave HARL loss-making. You could fiddle with the numbers and try to make some even more heroic assumptions but, more importantly, where are the profits going to come from that are needed to repay the debt? This is as simple as I can break it down for you. The business cannot support $200m of debt and, if we're realistic, it can't actually support the existing $100m of debt either. That's why a massive equity fund raise is needed and, why the existing debt needs converting to equity. And when that happens it's going to happen at a huge discount to the current share price such that existing shareholders are going to essentially be wiped out. That's why HARL is a massive sell. JakNife |
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