Harland & Wolff Share Discussion Threads

[loglorry1] 28/6/2024 11:16

My money is on some BS about accounts being delayed due to auditors needing more time and then suspension looms.

[jaknife] 28/6/2024 09:17

I expect that you'll get nothing from HARL today. I doubt that they can put out accounts because it's plainly obvious that they are *NOT* a going concern. If they do put out accounts then they're going to have to be heavily caveated and provide the fine detail of exactly what the position is with Riverstone and the UKEF.

It's frankly disgraceful that JW has kept shareholders in the dark for such a long time. I would be surprised if there's just one person out there that would be prepared to defend him?

But I think that this bizarre "plea" that the CFO put out on LinkedIn:



tells you exactly where the CFO's head is.

JakNife

[loglorry1] 28/6/2024 08:43

I note that JW has stopped engaging with shareholders much via IMC etc. I guess current shareholders are not worth focusing on. Keeping his job under the new ownership structure will be his focus.

[atmysignal] 28/6/2024 08:43

Yes I know many of you lost loads and are looking for this to go zero.But woody is the master of resurrection and always pulls "something" out the bag, and the price spikes 100%

[owenski] 28/6/2024 08:24

I can see the share price going off a cliff before much longer.

[loglorry1] 27/6/2024 11:21

It's going to be much lower because they said they needed to refi their loan in order to meet their targets. Unless JW has managed alchemy at his steelworks, there is no way they can grow revenue without sorting the balance sheet out. It's just common business sense. If anything costs have got higher, bigger more expensive head count and so without increased revenues I really don't see how there won't be a bad update.

"a high degree of visibility over £145 million of these revenues at this stage, underpinned by the FSS and SeaRose contracts."

Well since they can't fund these contracts and have barely started I suspect a big miss.

Obviously, the fact they are leaving it until Friday at nobody watching o'clock speaks volumes.

[atmysignal] 27/6/2024 10:40

But woody keeps sticking two fingers up at you lot that lost money here years ago

[jaknife] 27/6/2024 10:39

A quick reminder of what the house broker (Cavendish) forecasts for the 2023 results:

* Revenue of £100m
* Adjusted Profit Before Tax of -£45.5m
* Adjusted EPS of - 26.3p
* Net Assets of -£94.0m

However, note that HARL gave a late trading update in November:



which suggested that revenue might be lower.

JakNife

[loglorry1] 27/6/2024 10:35

Or maybe even a "keep the lights on" placing. It won't make any difference to the outcome and nobody sane would give them cash but I suppose they might try.

[loglorry1] 27/6/2024 10:29

After close tomorrow.

[john mcinnes wood] 27/6/2024 10:14

Running down the hours to an expected dire 2023 results announcement.

[loglorry1] 27/6/2024 10:08

Maybe trouble making June payroll... Down a lot on big volume.

[owenski] 27/6/2024 09:13

Must be running on fumes by now.

[loglorry1] 26/6/2024 10:49

I don't imagine Labour are in the business of bailing out the billionaire US based owners of Riverstone. If they don't then it means Riverstone have to take a loss which means equity is a zero.

I don't think it's much more complex than that but it is dragging on a long time.

I suspect when push comes to shove and they finally run out of cash. Riverstone will take the company and covert their debt to equity, re-apply for the loan with a clean balance sheet and have a much greater chance of securing it.

Don't worry though John Wood and his sidekick's salary is safe (unless they boot him out). Current equity will get nothing.

[ijamlon] 26/6/2024 10:45

Presumably trying to stay sweet with key Labour-backing unions in preparation for their last roll of the dice: hoping to persuade the new government to write them a massive cheque

[loglorry1] 24/6/2024 14:32

Might as well pay them what they want cos there's no money to pay them anyway!

[jaknife] 23/6/2024 21:40

Industrial dispute at Harland and Wolff ends after workforce vote to accept significant pay increase

[john mcinnes wood] 19/6/2024 00:45

Looks as though the new Scilly ferry 'Atlantic Wolff is struggling before it's even carried a fare paying passenger. Lack of staff seems to be the main problem, sailings now postponed until 15th July. Sadly, some people who were booked on earlier sailings have had their holidays impacted. Very poor customer service also being reported.

[atmysignal] 18/6/2024 10:08

So many old-timers who lost a LOT of money here over the years, hoping for a zero here

[oakville] 18/6/2024 07:10

Love the idea of HARL and have followed them for a few years but they must be close to collapse.

[loglorry1] 17/6/2024 20:53

Riverstone have charges on everything. They are a senior secured creditor. They now have a little bit less security but they are owed far more than HARL is worth.

If HMG were to back a loan they'd simply be bailing out the New York based billionaires that own Riverstone. Not even Labour are daft enough to do that.

The balance sheet needs to be fixed first and that will happen soon enough because HARL will run out of cash.