Harland & Wolff Share Discussion Threads

[ijamlon] 23/5/2022 22:08

The sad thing is that a lot of the investors are not gamblers but shipbuilding enthusiasts who don't always understand the difference between newsflow / expected revenue and sustainable profit / shareholder value. They are just getting bled dry to feather the nests of the top 2 goons. What I have witnessed with this company undermines my faith in the U.K. approach to listed company governance. I hope someone gets their comeuppance one day.

[diku] 23/5/2022 21:12

Then somebody will buy it for a song...and then refloat it again and sucker in more...wash rinse and spin cycle repeat...

[ijamlon] 23/5/2022 14:20

I guess they will have exhausted the cash from the last placing before long. I guess they’ll do their best to have a placing above 10p. But chance the market will only bite at 8p.

[diku] 23/5/2022 14:06

What a mountain reversal...13p to 22p...and now back to 13p...lot of share are proving not for keeps...

[ali47fish] 23/5/2022 09:12

sp reacting negatively- why

[this_is_me] 23/5/2022 07:44

Revenue ramping up impressively. Contracts completed on time and on budget are developing a great reputation for the company. Being able to do so while carrying out the considerable capital expenditure and maintenance work needed to bring the yards up to a high standard shows excellent management skill and a skilled workforce.

[terminator101] 23/5/2022 07:08

Wow, losses continue to significantly outpace revenue. But at least you have a nice list of excuses from JW

[skinny] 23/5/2022 07:01

Key highlights:

-- Revenue of GBP 18.5 million for the 17-month period (31 July 2020: GBP1.48 million*)
-- Improvement in gross margins to 28% (31 July 2020: 20%)
-- Operating loss of GBP22.37 million following significant investment to support future growth of the business (31 July 2020: loss of GBP9.18 million*)

-- Three major acquisitions completed; H&W Appledore, H&W Methil and H&W Arnish
-- Two equity placings raising a total of GBP20.27 million (before expenses)
*Figure represents the 12-month period under the Company's historic accounting reference date

Key milestones achieved:

-- Significant capital investment in all yards across plant and equipment including a robotic welding panel line installation in Belfast and a robotic pipe profiler in Methil

-- All four sites became fully operational during the period
-- Marine license awarded from Department of Agriculture, Environment and Rural Affairs (DAERA) for the Islandmagee gas storage project - under judicial review

-- First major renewables contract executed with Saipem for the fabrication of 8 wind turbine generator jackets valued at GBP26.50 million

-- First pontoon build announced and commenced during the period at H&W Appledore
-- Executed contracts in four out of five key markets, final market breakthrough (defence) expected H1/ early Q3'22

-- First third-party fabrication contracts announced and commenced at H&W Arnish
Post-period end:

-- $70m debt facility signed with Riverstone Holdings LLC
-- Significant growth achieved in the cruise and ferry repair market in Q1'22
-- Repair dock at H&W Belfast operating at near-full capacity since Q4 2021
-- Largest ever cruise vessel to enter the Belfast drydock facility in over twenty five years
-- Significant progress being made on converting advanced negotiations in defence and commercial fabrication into executed contracts

The Company expects to publish its audited annual report and accounts in June, which will be sent to Shareholders and available to view on the Company's website at . A further announcement will be made once published. No material amendments to the disclosures contained within this announcement are expected within the audited financial statements.

[ijamlon] 13/5/2022 08:47

When are the board going to carry out their legal duty to remove their failing and dishonest CEO? I can think of no other company or sphere of activity where this level of under-performance would be acceptable.

[milesy] 28/4/2022 16:28

Much depends on what the auditors want to delve into, with plenty of potentially time consuming rabbit holes around acquistions no doubt.

[camdenhills] 28/4/2022 10:45

First rule for building credibility is do not say one thing then fail to deliver.

[skinny] 28/4/2022 07:03

Harland & Wolff Group Holdings plc (AIM: HARL), the UK quoted company focused on strategic infrastructure projects and physical asset lifecycle management provides an update on the publication of its audited results for the 17-month period ended 31 December 2021 ("FY 21").

The Company is advanced with the audit process and expects to announce its results for FY 21 and publish its annual report in May. Whilst the Company had originally anticipated an April release date, the three acquisitions completed by Harland and Wolff during the period have meant that the audit has taken longer than expected. As previously announced the Company expects revenue to be between GBP18 million and GBP20 million for FY 21.

[c2b] 13/4/2022 08:53

To be fair I criticised them for not putting out enough RNSs at the recent investors' meeting in Belfast in particular to cover the stream of repair business coming into the two dry docks. Given the new loan agreement I would hope there are no more placings until a really big new order.

[garbetklb] 13/4/2022 08:10

I wonder if this trickle of good news precedes a placing announcement.........?

[this_is_me] 13/4/2022 07:41

The trickle of good news continues and is encouraging. I added a few more shares moving my holding from miniscule to small (as a % of my portfolio).

[bronislav] 13/4/2022 07:08

Another little spoon of pudding this morning.

[mr.oz] 12/4/2022 20:18

Or.. Someone had some shares to dump

[shalder] 12/4/2022 19:41

The business correspondent of the Telegraph appears to believe this is a contract to BUILD cruise ships and that this is some kind of fantastic achievement. This not only displays total ignorance of the industry in question, but also that they have not even mastered the art of reading a press release.

[this_is_me] 11/4/2022 07:34

Yes, assuming they do a good job, this could be a key contract and lead to a lot of work in the future.

[skinny] 11/4/2022 07:09

.




Contract win from P&O Cruises and Cunard for dry docking two cruise vessels in Harland & Wolff (Belfast)

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 its subsidiary, Harland & Wolff (Belfast) Limited (Harland) has been awarded a dry dock contract for two cruise ships from P&O Cruises and Cunard respectively that will occupy the Belfast drydock for 33 days in total. The companies have selected Harland & Wolff's iconic 81-acre Belfast shipyard to undertake drydocking works on two of its ships - Aurora and Queen Victoria.

The works due to be undertaken to both ships are standard drydocking operations that will give Harland & Wolff the opportunity to demonstrate to the wider cruise industry, its skills, capabilities and expertise in these types of projects.

The first ship to dock under this agreement will be Cunard's Queen Victoria that entered service in December 2007. With a length of 294m and a beam of 32.3m, it will be in the yard from 2(nd) - 19(th) May 2022. Queen Victoria will be the largest cruise ship ever to have drydocked in a UK shipyard and the only Cunard ship to have ever drydocked in Belfast.

The second ship is P&O Cruises' Aurora that entered service in May 2000. With a length of 270m and a beam of 32m, it will be in the yard from the 9(th) - 23(rd) June 2022.

The arrival of these ships in Belfast will mark another milestone completed in relation to the Harland & Wolff's re-activation strategy across its key markets. Harland & Wolff's strategy has been very clear, i.e., to operate in five markets and six service sectors to ensure continuity of projects and to provide longevity of employment for the core workforce. This will result in improved productivity and reduced project costs for vessel owners.

With the recent release of the National Shipbuilding Strategy (NSbS), repairs & maintenance projects, as well as through life support services, are key activities that will facilitate the continuity of skills and enhance productivity levels at Harland & Wolff required to win new build projects. As indicated in the NSbS, there are over 150 domestic vessels to be built in the coming years, in addition to the fabrication works for the renewables sector following the latest ScotWind licensing round and future licensing rounds yet to be announced.

Harland & Wolff, group CEO John Wood, commented:

"When acquiring the assets of Harland and Wolff (Belfast) in December 2019 and in a pre-pandemic period, the cruise industry was one of our key target markets.

"Our facilities are ideally placed to capitalise on these types of large projects whilst we continue servicing our smaller but regular clients. We have now secured contracts in four out of our five markets; commercial, cruise & ferry, renewables and energy - we now hope to complete the final milestone of securing a defence contract in the near future."

Carnival UK, vice-president maritime David Varty said: "We are delighted to be able to have these two ships at a UK shipyard with such a long heritage and reputation and we very much look forward to supporting the UK maritime industry and working closely with the Harland & Wolff team on this project."

[bronislav] 11/4/2022 07:07

Nice spoon of pudding from the cruise industry.