Saga Share Discussion Threads

[discodave45] 03/10/2020 18:00

OnJohnWhat 4 ships are you referring to?.Saga Pearl II and Saga Sapphire have both been sold (Aqua Explorer Holdings and ANEX Tours respectively).

[discodave45] 03/10/2020 17:52

What's MV Columbus got to do with SAGA?

[blueball] 03/10/2020 17:33

Still there today.

[slicethepie] 03/10/2020 16:38

Thanks, speaking to someone in the cruise industry a lot of the employees on ships are on 6 month contracts so would be interesting to see what the actual running costs are when not being used as by now they would start to benefit.

[kenmitch] 03/10/2020 16:24

The actual figures provided by Saga are Spirit of Discovery. £234 million. Expiry July 2032, and Spirit of Adventure about £285million and expiry September 2032.

So they have years to pay it off, and plenty of revenues from their cruises once covid is history. And the recent fund raising reduces the overall debt worries.

[onjohn] 03/10/2020 15:26

Be bust next year unless they sell the ships

Have they managed to sell the 4 old ones mmmm

[discodave45] 03/10/2020 15:07

slicethepie Agree about insurance. Both new ships must have cost about £300m each and in current climate would struggle to sell at reasonable price IMO. That said I'm looking at 2021 and beyond when these cruise liners bring in £80m EBITDA per annum, that's a significant uplift on their travel and group profitability. However, the elephant in the room is the dreaded C word.

[slicethepie] 03/10/2020 13:11

The insurance business is the gem. You could sell the ships v easily esp the new one and pay off the debt That's what pe saw and why they bid 33p they will be back

[discodave45] 03/10/2020 12:43

blueball Love to hear why you think that?, complete nonsense IMO, underlying H1 eps alone was 2.2p.To-date your prediction of 7 months ago was, and will continue to be, miles off the mark.

[blueball] 03/10/2020 12:18

I said back in March its worth 2p/3p at best.

[andshewas] 03/10/2020 11:33

The founder is a cretin blowing 100m here


He should have let it go bust and bought it for nothing

[diku] 03/10/2020 08:55

All those buying at 12p are stock lock and barrel locked in...wait for the new shares to hit the market Monday...

[discodave45] 02/10/2020 21:17

Mkcap at close today is £127m!!

[dealy] 02/10/2020 20:20

thanks disco. The "worth" 220m was simply the market cap (2 billion shares at 11p)..Not sure what the fair value is, probably much higher

[the canadian mounted] 02/10/2020 19:40

Exceedingly unlikely

[antonagis] 02/10/2020 19:30

Current price makes the 12p offer even more laughable. Wonder how many people on here got conned by the muppets running Saga into buying at 12p. I certainly didn't. I'd be tempted to top up if it hits 8-10p which is now looking very likely indeed

[discodave45] 02/10/2020 19:15

dealy'Anybody know what the net cash position is now?'At interims net debt (excluding cruise) was £410.7m. They have raised net £140m which will be to reduce leverage: £64m to term loan and £40m to pay RCF, that leaves £36m available cash, and they still have net debt.

[discodave45] 02/10/2020 19:10

dealyIt was £10m costs from what I've read: 'equity raise £150m and £140m net of costs.'Where do you get this is worth £220m?.......someone was prepared to pay £370m, the market thinks it's worth a third of that, go figure!.If De Haan, who knows this business inside out, is prepared to pay 27p knowing he can get in excess 33p what's the issue?.Nearly double the shares Monday on the bell so more to drop IMO then grab what you can. DYOR