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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Bateman Lit | BNLN | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 2.90 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 2.90 | 2.90 |
| Top Posts |
|---|
Posted at 04/11/2009 18:47 by m w Its not all doom and gloom we still get a dividend |
Posted at 06/5/2009 17:45 by simon gordon Oriel Securities - 28/4/09:2009 to June T/O - $754 PBT - $35.1 loss EPS: 1.9p loss 2010 to June T/O - $794 PBT - $18m profit EPS - 9.9p DPS - 1.6p 2011 to June T/O - $837M PBT - $25.6m EPS - 14.2p DPS - 2.3p Financial performance held back by legacy The financial position of the Group has been affected by deteriorating markets and the legacy issues. The recent results for H1 FY2009 included reported revenue of US$342.0m, down from US$444.3m the year earlier as Advanced Technology, Delta T and parts of the Energy division were hit by lower investment and delayed projects. Underlying profits showed Bateman just about broke even in H1 with normalised EBITDA of US$3.4m (vs US$24.6m) and normalised diluted EPS of 0.8 cents (15.0 cents). The reported numbers were hit by legacy issues. There were pre-tax exceptional charges of US$34.5m which included a provision for a Delta-T legacy project, Delta-T goodwill impairment charge, a provision for a European waste to energy project and a hedging loss. The reported loss after tax was US$28.8m versus US$22.0m profit in H1 FY2008. Hopefully, a line has now been drawn under the past issues and future results will reflect the underlying business performance. The normalised profits were consistent with our forecasts for the full year. The cash generation reflected business performance and no dividend was declared for the half year (compared to 3.5 cents in H1 FY2008) as Bateman focuses on conserving cash. Cash generation in H1 was held back by underlying performance but also an adverse US$55m movement in working capital. The net cash at the end of the period was US$55.7m, down from US$113.4m six months earlier. Excluding deposits against guarantees, 'free cash' at end 2008 was US$50.3m, down from US$69.8m at June 2008. As long as the business environment does not deteriorate further, the cash should be sufficient to enable the Group to build on the current platform. The positive news is that the backlog remains strong and, at end 2008 was c.US$1.0bn (vs US$1.3bn at end June 2008), or equivalent to 1.5x annualised H1 FY2009 revenues. This should form the platform from which progress can be delivered and encouragingly, Bateman secured over US$100m of new contracts after the end of the period: a MOU worth US$36.8m was signed with Vale to provide a copper solvent extraction and electrowinning plant in Chile; a 60m EPC contract for the provision of infrastructure for an industrial plant in Nalanda, India; and Delta T won 2 new contracts. Our forecasts are summarised on p.2 and are little changed from earlier expectations except they recognise the return of 11.6m shares from the Swains and assume that this will take place at the end of the financial year. We currently expect a (normalised) loss of US$3.5m (3 cents per share) in FY 2009 but forecast a recovery next year and adjusted earnings of US$15.8m (EPS 15 cents). We expect the net cash position to stay close to H1 FY2009 levels during H2 (dependent on working capital movements) and then forecast the recovery will increase cash generation. The non-availability of additional banking facilities may be an ongoing impediment to the Group's development. |
Posted at 19/12/2008 21:52 by richie111 Hi all Been holding for a few of months, maybe guy's not to be too quick to write this one off!! Dropped back today to 15 then back up again , it has some resistance What they do, is in a market that has problems, but that market will recover and very quickly, so will BNLN. Ride the waves in and out you can sill make money and hold long term. IMHO Regards all |
Posted at 28/10/2008 10:36 by jailbird md,i'm looking to buy in too now..recovering play looks very much a decent profit to be made here...after reading these snippets i'm buy a few..one-off charge is mentioned here Dutch oil and biofuel refinery engineer Bateman Litwin N.V. said on Tuesday it was confident of the future even as it swung to a full-year pretax loss on one-off charges and expected to be in a technical breach of certain banking covenants. Highlights · 1Reported revenues up 84 per cent to US$816.1 million (2006/07: US$444.2 million) · 2Normalised EBITDA up 73 per cent to US$33.8 million (2006/07: US$19.5 million) · 2Normalised profit before tax up 20per cent to US$25.0 million (2006/07: US$20.9 million) · Exceptional charges of US$88.2 million (2006/07: nil) of which: - US$53.5 million relates to operating charges - US$15.3 million relates to future contingency - US$19.4 million relates to impairment charges · 1Reported loss before tax US$63.2 million (2006/07: profit of US$20.9 million) · 2Normalised EPS (diluted) down 23 per cent to 16.7 US cents (2006/07: 21.8 US cents) · Total cash at 30 June 2008 of US$160.1 million (30 June 2007: US$147.5 million) · Free cash, net of bonding collateral, at 30 June 2008 of US$69.8 million (30 June 2007: US$118.2 million) · No final dividend proposed (2006/07: 3.7 US cents per share). Total dividend for the year of 3.5 US cents per share (2006/07: 6.0 US cents per share) · Backlog at 30 June 2008 of US$1.3 billion up 44 per cent from 30 June 2007 (US$954 million) |
Posted at 25/9/2008 18:25 by resourcer From Monday's trading update -"Bateman Litwin's major shareholder has expressed its continued support for the Company and the new management team." Why make that sort of statement? Is there some particular major shareholder support (e.g. financial) that may be needed? Talk of adjustments suggests that this may be another case of 'massaging the numbers'. Until the situation is clearer there is likely to be wariness of where it could end. An extreme recent example is Vanco, which ended up going bust. |
Posted at 22/9/2008 15:57 by resourcer Funnily enough I had a look at these just yesterday, after a 'Buy' recommendation in "Shares" magazine (11th. September issue).I was put off by the big director sale announced earlier this month - a sale which is now looking very well-timed ... As well as by some prescient posting on this thread that suggested the worst wasn't over. |
Posted at 07/7/2008 19:59 by stegrego The world is finally coming around to the fact that biofuels are a blooming waste of time - pity BNLN have the 2nd biggest builder of the plants in the world...... Great company this minus the Delta bit. LONDON (Thomson Financial) - The British government said on Monday it would slow the expansion of biofuels following a report, which found they could increase greenhouse gas emissions and contribute to food price rises. Transport Secretary Ruth Kelly said a review had not recommended a temporary halt to the use of biofuels, which are sourced from organic materials such as palm oil and sugar beet. She said that while biofuels had the potential to cut carbon emissions there were "increasing questions" about them and she agreed with the report's recommendations to "amend not abandon" the government's policy. The review examined the indirect effects of biofuel production such as land use change and the effect on food prices. It called for biofuels to be introduced more slowly than first planned until controls are in place to prevent higher food prices and land being cleared of forest or agriculture in order to grow fuels. The study into the indirect effects of biofuels warned current policies may cause greenhouse gas emissions rather than savings and also found biodiversity could be reduced. The report was less drastic than a World Bank study last week which blamed biofuels for a 75 percent rise in food prices. It warned that current biofuels policy could push up grain prices in the European Union by 15 percent, sugar by 7 percent and oil seed by 50 percent, while millions more people elsewhere in the world could be pushed into poverty. The review estimates that an extra 10.7 million people in India could be plunged into poverty, while hundreds of thousands of people in countries such as Kenya, Malawi and Bangladesh could be affected by food price rises caused by biofuels. Professor Ed Gallagher, the chairman of the Renewable Fuels Agency, who carried out the review, said the figures did not take into account the impact of climate change on poor people if biofuels were not introduced. The Gallagher report recommends biofuel production should target idle and marginal land, and the use of so-called second generation biofuels, which use waste parts of plants for energy to avoid land use change and reduce competition with food production. Marginal and idle land could include set-aside land in Britain and eastern Europe where farmland has fallen into disuse, the report's co-author Greg Archer said. Oxfam welcomed the caution expressed in the report, but said it should have gone further and recommended a complete moratorium on mandatory targets because biofuels were not a "magic bullet" for climate change. The charity's Stephen Doughty said: "Given the clear link between biofuels and rising food prices, and evidence of higher emissions from biofuels production than previously thought, the report should have gone further and called for the complete repeal of existing targets. "It is obvious that biofuels are not a magic bullet for climate change, and may actually make things worse. In light of this, neither the UK nor the EU should have compulsory targets." |
Posted at 20/4/2008 18:59 by surfer2 Simonbought at 230 sold at 220 i think , your commments re. delta weighed on me but it was when i saw tiny trades of 130 shares in bnln that got me worried. also the sub prime mess blew up and i had about a week to react as the share price held for a few days. i believe the 65% is held by an israeli billionaire? . im considering kenz now but still have concerns re. falling dollar for earnings . it does appear to be more liquid than bnln. |
Posted at 26/3/2008 13:43 by simon gordon 'The Group will focus on driving forward operational efficiencies and leveraging synergies between the Divisions. Whilst demand for the Group's services in our traditional markets remains strong, trading in the second half is being affected by the current instability in capital markets with a likely reduction in new contract awards at Delta-T. By contrast, the continuing strength in the Euro relative to the US dollar means that the hedging gains recognised in the first half are likely to persist for the full year. As a result, the Board anticipates that net income for the full year will be broadly in line with current market expectations.'Chairman ----- Can one trust that the problems at Delta-T are due to Capital Markets? I don't think so! Based on the data I came across last year. This data has proven to be a correct read and BNLN have been goosed. I think the IC are wrong in stating BNLN as a Buy. I think there is a 50/50 chance that BNLN will warn on profits. Either '08 could be cut or 09' reduced. Either way, you are buying a company in which the CEO has been fired for the Delta-T deal, yet no other Board members have resigned. They approved the deal, at a minimum the Chairman should also be fired! I note Batmeman Engineering have had problems in India. Are the two listed Batemans' really quality outfits? Is BNLN a can of worms - with the rot at the top? Will the new CEO have to kitchen sink the Finals? Could BNLN test recent lows? What are the catalysts to get the shares moving steadily up? Cheap shares, get cheaper! |
Posted at 29/1/2008 15:49 by azalea General counsel of BNLN. As I see it the major implication of BNLN moving to the main market is that it will fall into the sights of other institutions who currently cannot buy Aim listed company shares. IC 11/1/08 (sp 197p). BNLN shares are rated only half as highly as Wood's(11 times 2008 forecast earnings compared with 20 times for Wood. Buy! |
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