Petrofac Share Discussion Threads

[kirk 6] 31/5/2024 11:18

Jeez they are bad are they actually going to commence trading again? While we wait take a look at Indus Gas (INDI) it's stupid cheap and easy a 300-400% gainer in the short term

[blackhorse23] 31/5/2024 11:01

Accounts are worrying for me

[geckotheglorious] 31/5/2024 10:28

Action.

It'll start trading again when the details of the D4E swap have been agreed and published to the "market" so everyone has all the information in a timely fashion.

[action] 31/5/2024 10:26

10p 0r 30p ? Why it is still not traded yet. Worse to be expected

[tahmina1] 31/5/2024 10:21

The real worry is they have had loads of time and no progress at all reported.

[geckotheglorious] 31/5/2024 10:02

Just saw the emailed Petrofac results, hence my first comment here in a while.

Ouch.

Massive losses.
Wafer thin margins indeed.
Free cash outflow.
Debt is rising.

This is only a going concern whilst all those institutions PFC is in thrall to give it some breathing space.

"The Company did not make the payment of the bond coupon due on 15 May 2024 (for which the ad hoc group provided forbearance until 30 June 2024) and continues to rely on deferrals of contractual amortisation payments from its lending banks.

Essentially a default in the big scheme of things, although theyve been given time till 30th June 2024, so always a chance they rustle up some dosh to pay it. Sceptical myself.

Still working on restructuring. No Closer it seems.
No deets of the inevitable D4E.


It's all very well having a large order book but if the profit margins on such are non existent/wafer thin, then this company is going nowhere.

As Jaknife says, this is the most caveated going concern statement ever.


p.s Anyone seen Witless123?

[tahmina1] 31/5/2024 10:00

seems D day is 14 June. by then they must have their ducks in a row or ....

[hmgouda] 31/5/2024 09:44

Do we know when it will be back for trading? And what will be the share price!

[tahmina1] 31/5/2024 09:43

not a very transparent conference call!!!!

[blakesmith] 31/5/2024 09:42

This is going to have a 60% drop on relist

[general george] 31/5/2024 09:25

Jaknife that doesn't sound positive lol

[jaknife] 31/5/2024 08:36

The Going Concern statement is quite possibly (a) the longest that I've ever read, as well as (b) the most heavily caveated that I've ever read.

[kibes] 31/5/2024 08:18

Net debt of $583 million and losing $485 million a year? They are hopelessly bust and the more contracts they take on, the worse it gets.

[dealy] 31/5/2024 08:05

At first glance it looks like they have made no progress in 7 months regarding the balance sheet. Also the financial performance in 2023 is a disgrace (profit and cash flow).

[leoneobull] 31/5/2024 07:57

Ive really enjoyed the suspension as ive found the share price remarkably stable

[investtofly] 31/5/2024 07:19

https://www.petrofac.com/media/news/petrofac-limited-results-for-the-year-ended-31-december-2023/

[general george] 30/5/2024 16:57

Ghhghh.

I'm not sure you are comparing apples with apples there. Wood are made up of Amec, FW and Mustang. All of which have/had a much better reputation than Petrofac!

Some value can be read across, but not on a like for like basis IMHO.

[armbar] 30/5/2024 16:39

Circa 650M enterprise value Asfari major investment at 115p 38MJust an opinion and my stance has not changed , end up in ME hands somehow imo or an MBOThis opinion has no impact on the share price as it's suspended before the usual crew jump out All depends how much someone is willing to pay thinking low ball opportunity for someone like an Adnoc or JV GL

[ghhghh] 30/5/2024 15:06

What's the read across from Wood Group? Bid values EV at $2.7bn?

[general george] 30/5/2024 14:06

Wouldn't surprise me!

[chris cat] 30/5/2024 13:25

Probably get some glib announcement tomorrow that we are still suspended

[general george] 30/5/2024 09:24

And it really is down to the wire. I got all my timesheets in just in case. We are very busy in the London Office, busiest we have been for years. (ok it's in Woking). Good luck!