Hardide Share Discussion Threads

[babbler] 20/5/2020 08:38

They want 45p for 2k.

[dozey3] 19/5/2020 19:00

Definitely encouraging, esp patent concerning turbine blades. That’s the big one. Of course it’s not yet delivered, that’s why it’s still dirt cheap and time to top up.

[semaj2000] 19/5/2020 15:05

Justin interviewed Philip Kirkham on the Vox Podcast today

[ansc] 19/5/2020 10:30

All things considered, an encouraging statement especially 'First production order received for Airbus A380 wing compression pads' ..... it's been a long time coming!

[nick100] 19/5/2020 07:50

Hardide achieve record revenue for a half-year
Hardide PLC (LON:HDD), the developer and provider of advanced surface coating technology, today announced its results for the six-month period ended 31 March 2020.

Highlights

Financial

· Record revenue for a half-year – up by 29% to £3.02m (H1 2019: £2.35m)

· Gross profit of £1.66m – up by 58% (H1 2019: £1.05m)

· Increased gross margin of 55% (H1 2019: 45%) as a result of a stronger product mix

· EBITDA of £0.03m* (after IFRS 16 and relocation costs the like-for-like H1 2019 would have been a loss of £0.37m)

· Over-subscribed fundraising of £2.50m (before expenses) to fund additional equipment, enhance new UK site and strengthen the balance sheet

· Cash at bank at 31 March 2020 of £4.88m (£5.35m at 31 March 2019)

· Sole material borrowing is the maiden asset finance agreement with Hitachi Capital over £0.40m against a new coating reactor

* Application of IFRS 16 has led to operating lease charges previously recognised within operating profit to now be partially recognised in interest costs, leading to an increase in EBITDA of approximately £0.14m. For reference, before IFRS 16 adjustments, EBITDA would have been a loss of £0.11m in H1 2020, compared with a loss of £0.44m in H1 2019.

Operational

· Relocation to the new UK site is on track for completion by end-September 2020; aerospace work will continue to be processed at the Wedgwood Road site until the new facility is fully approved by Airbus

· Encouraging progress continues to be made with Airbus and a supply agreement has been reached with one of their major Tier 1 suppliers

· Two projects grant-funded by the National Aerospace Technology Exploitation Programme (NATEP) were completed successfully

· International filing of UK patent for turbine blades has commenced

Post-period

· First production order received for Airbus A380 wing compression pads

· Honoured with a Queen’s Award for Enterprise in recognition of the outstanding growth in international sales

· No significant reduction in demand seen so far as a result of COVID-19. Encouraging dialogue is being maintained with customers regarding projected demand

· Both UK and US sites continue to coat product as normal and are following government safety directives

· Discretionary spending is under regular review and actions are being taken to maximise future cash balances

· New Finance Director, Simon Hallam, appointed on 20 April 2020

Commenting on the interim results, Robert Goddard, Chairman of Hardide plc, said:

“The Group is pleased to report another record for sales revenue for a half year. The phased relocation of our UK business to a larger, modern and high-spec facility is on time and budget. Meanwhile, our UK and US sites are operating effectively and continue to coat product during the COVID-19 pandemic.

“So far, trading in H2 2020 has started well and has not, to date, been significantly disrupted by the effects of COVID-19. There are grounds for cautious optimism, but in the current context, the Board must be mindful of the potential for order book disruption in the second half. The Group has a robust cash position and measures are being put in place to preserve cash, which positions us well in these uncertain times.

“The safety and well-being of our staff remain the Group’s main priority. The Board continues to observe and implement government safety directives that apply to its businesses in the UK and the US. These are unprecedented times and the Board wishes to thank our employees for their commitment, flexibility and resolve during this challenging period.”

[rogerramjet] 15/5/2020 10:34

From AGM statement:-Results on or around 19th May 2020

[gwr7] 26/4/2020 21:32

Very true. It's bad luck the way their two main customer industries have been hit hard at the same time. I wonder if Stelios will succeed in blocking Easyjet's £4.5 billion contract with Airbus for new planes. Airbus CEO says the company is bleeding cash and it's "very existence is threatened." Meanwhile US drillers cut 60 operating oil rigs in the week to April 24, reducing the total count to 378, the lowest since July 2016, according to Baker Hughes on Friday.
I suspect things are worse than the overall market thinks. Cash is king for me.

[pugugly] 25/4/2020 17:58

Market leading technology - IMO potentially on Chines vulture shopping list - UK Gov MUST block any take-away attempt - As now free from EU regs must keep our key technology free from opportunistic rapes

[gwr7] 25/4/2020 17:50

Increased capacity + reducing demand = oh oh chongo

[nigthepig] 21/4/2020 12:56

And echoed by me as well

[ansc] 21/4/2020 10:25

Echoed by me as well. I feel sure we extremely patient investors will be rewarded ..... sometime!!

[dozey3] 21/4/2020 09:14

Good news indeed, but this present situation is one hell of a bump in the road. Let’s hope we can stay more or less on track.

[johnwise] 21/4/2020 08:16

21 April 2020

Queen's Award for Enterprise

Hardide (AIM: HDD), the developer and provider of advanced surface coating technology, is pleased to announce that it has been honoured with a Queen's Award for Enterprise in recognition of the outstanding growth of its international sales.

The Group has won a Queen's Award for Enterprise: International Trade 2020, for its outstanding short-term growth in overseas sales, which increased by 152% over the three years to 30 September 2018. The Group is proud to have continued this into the year ended 30 September 2019. During this period, the Group secured record overall revenues and of these 67% were international.

The Group's main international market is North America, where it coats parts used in severe service applications in the aerospace, oil & gas, and flow control industries. Customers include leading blue-chip companies operating in aerospace such as Airbus, BAE Systems, Leonardo Helicopters and Lockheed Martin; as well as in oil & gas exploration and production, valve and pump manufacturing, and precision engineering.

Philip Kirkham, CEO, Hardide plc commented: "A Queen's Award is one of the greatest accolades for a British business and we are extremely proud that the international growth of our business has been recognised in this way. The patented Hardide coating technology is being adopted by market-leading customers around the world to extend the life and optimise the performance of their components. Looking forward, we are confident that we will continue to grow our business in North America, while also exploring new international markets for our coatings."

[rogerramjet] 21/4/2020 07:22

Re Queens award for EnterpriseA very well done from me. Congratulations.Keep up the good work.RegardsRRJ

[johnwise] 01/4/2020 15:44

The Market Makers have no stock left.. Probably drop the price in a few days for a shake out of weak holders.

[rogerramjet] 01/4/2020 15:27

This is weird. Something going on IMO.RegardsRRJ.

[rogerramjet] 01/4/2020 15:22

Brought my average down from 120p to 78p. Should have trusted myself and bought a few more at these low prices.RegardsRRJ

[nigthepig] 01/4/2020 15:14

Good luck Roger - I think you've been here longer than me.

[rogerramjet] 01/4/2020 14:55

Fascinating watching this share at the moment.RegardsRRJ