Apr Energy Share Discussion Threads

[m.t.glass] 18/6/2015 08:46

- and the first of them just dropped bid under 200

[m.t.glass] 18/6/2015 08:45

This being a hybrid sets/MM stock, the MMs sit back from the front line. But they've been edging down and down all morning so far, with 3 of them now at 200.5p on the bid side.

[m.t.glass] 17/6/2015 21:46

Investors Chronicle headline:

'Financing worries for APR Energy'

IC VIEW:
Analysts at Numis lowered their cash profit forecasts for this full-year to $75m, from $123m before this update. What's more they expect it to make a $87m pre-tax loss this year. The shares are trading at a 45 per cent discount to its book value, justified by the anticipated losses. Losses this year and next had been previously flagged. We advise investors to hold until the group's update in August.



?? Why?

[bulltradept] 17/6/2015 18:38

At £1.60, it could be wortha punt.

[younasm] 17/6/2015 16:00

Rally, maybe we might see that from sub-200p

[effortless cool] 17/6/2015 13:19

So much for my suckers' rally ...

[m.t.glass] 17/6/2015 13:18

"APR Energy will be forced into talks with lenders"

Headline at www.auj.com.au

[m.t.glass] 17/6/2015 06:01

".. APR's focus on emerging markets has left it exposed to geopolitical uncertainty, especially in countries such as Libya and Yemen, forcing it to issue a slew of warnings and exit some regions... "

(Scottish Herald)

[effortless cool] 16/6/2015 16:12

I need to correct my own post 510 too - the COO was not a director. However, since he merits an RNS, he must have been a PDMR.

[m.t.glass] 16/6/2015 12:20

FT joins the negative reportage:

Covenants possibly breached, profits definitely lower, chief operations officer on the way out for "personal reasons". A busy morning for APR, the supplier of temporary generators.

APR energy has said it may be unable to meet the financial covenants dictated by its banking facility, as it announces a profit warning amidst crippling delays in revenue, writes Joel Lewin.

The FTSE 250 company said customers have pushed back decisions about deals in the pipeline, and consequently delays in revenue threaten its ability to meet its covenants.

It said:

there is a realistic possibility that the anticipated delay in revenue may result in an inability of the Company to meet the financial covenant calculations under its banking facility on future quarter-end testing dates

It added that it:

will engage with its lenders at an appropriate time if the Company determines that seeking a modification of its financial covenants is advisable

The warning over the potential breach of covenants comes as the company issues a profit warning as a tough year takes an even harder turn.

The company's share price has fallen 48 per cent during the last 12 months, hit particularly hard by the suspension of its Libyan operations which caused it to tumble 17 per cent.

Once again it is Libya that is crimping profits - this time demobilisation costs have been higher than expected "despite the significant progress made to date in extracting the majority of assets".

In addition, the power generator renter has been knocked by unfavourable exchange rates, primarily in Indonesia and Australia.

APR said customers have pushed back decisions about deals in the pipeline until later in the year, leading to yet another dent in revenue.

The company said its chief operations officer, Brian Rich, "has decided to step down from his role for personal reasons".

[m.t.glass] 16/6/2015 12:17

ta EC. Corrected.

[effortless cool] 16/6/2015 12:04

About bloody time! I was starting to doubt my sanity on this one.

I closed my short this morning at 231p. I suspect there's another short still in it, but each APR profit warning tends to be followed by a suckers' rally. Key to me is that there are no numbers in today's statement, which suggests that they have yet to get a handle on them and/or they have yet to accept how bad they really are.

Another director has gone too - the COO, rather than the CEO, MTG. He only lasted 13 months in the role.

[admin900] 16/6/2015 11:58

How bad can it get from here?

[m.t.glass] 16/6/2015 10:44

younasm (503) - you don't need to wait for the set-of-3 profit warnings - today's is the sixth since last autumn (some wrapped in with good news).

27/10 - pw
12/2 - two directors quit
23/12 - pw
23/2 - pw
6/3 - pw
25/3 - director quits
25/4 - pw
16/6 - pw, and director quits

[younasm] 16/6/2015 08:02

250p will hold

[bulltradept] 16/6/2015 07:55

Open below £2.00?

[kidknocked] 16/6/2015 07:51

Used to be invested here. Sorry to see the profit warning. Good luck longs !

[younasm] 16/6/2015 07:48

Finally, we get the profit warning. These normally come in 3s, so let's see them play out til q2 2016.

[m.t.glass] 16/6/2015 07:47

Crikey, yet another director resignation! This time the chief operating officer :-O

And a major profit warning.

[younasm] 05/6/2015 09:20

Could do with update on Libya exit.

[m.t.glass] 25/4/2015 08:50

JB - a lot of the negative news is presumably already accounted for within the long decline from Nov 2013 to January 2015. The question is whether the rebound from January to April is the beginnings of a reversal, or a 'dead cat bounce' to be followed by ongoing decline. Three of the four resignations are very recent (March 2015) and appeared to halt the short upward run at 400p. Like others, I am watching to see if it can regain recent momentum and fly convincingly up past £4, or whether that run is exhausted. At present my money is on it dropping away. If wrong, I close my downbet, if right I increase it.

[ursus] 23/4/2015 10:22

Odey has been reducing his short here for some months - now below reportable level.

[jamiebrim] 23/4/2015 08:18

Not that I'm complaining as I'm long on these, but why do they continue to go up, given the recent news & resignations?

[gleach23] 22/4/2015 14:29

It is EC...makes for a fascinating watch from the sidelines