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Depreciation is not a cash movement!!
So out of the $75m EBIDTA in 2022 and the $40m EBIDTA in last 6 months of 2021, they only have to pay interest of $20m approx (18 MONTHS) and rest can pay off loans. SIMPLES!!!!!!!!!!!
Now will someone please cancel him
Where did you get "$75m debt repayment"
The banks wanted them to raise $75m equity, of which they raised $25m or so. Their debt should be around 350 now, so need to get another 50m to drop it to 300 - that leaves them at a good position to not have to raise the remaining $50m....
Unless something goes wrong in the middle.....
Correct, so how are they going to pay $75m off the debt with $75m ebitda then.
Because depreciation has to be added back u plank! Could someone block him please
‘Ebitda is earnings after cost of sales and admin have been deducted! It is simply the profit before depreciation and interest and tax! ‘
Ok so using your basic logic above and using the H1/21 results
Revenue $51,393m
-
Cos ($35,007m)
-
Admin exp ($4,883m)
=
$11,503m ebitda, right.
If that’s correct why was the ebitda at $26,3m in the HY results?
Ebitda is earnings after cost of sales and admin have been deducted! It is simply the profit before depreciation and interest and tax!
No they won’t, what’s the cost of sales per year on the revenue intake ?
EBITA is profit before interest, tax and depreciation.
As depreciation is not a cash movement, the company will have $70-80m less the interest to pay of the loans!
How many times do we have to explain this to you????????
Take your seat at the back of the rocket and S T F U
They won’t have enough money to pay off $75m from the debt mountain, are you mixing up ebitda with profit again.
Seemed like a watered down release.The expectation was $75m+, so yes, the low end of the range is disappointing.Not sure how these contracts work, but I would think that there is a time lag between bidding and wins.In any case, $75m should help to reduce the debt to c.$300m by year end, and help avoid that $50m raise which Amtech is so worried about.
Well I think some people were probably expecting/hoping 2022 EBITDA guidance would be a little north of $80m given the second half 2021 run rate. Perhaps they are low-balling now in order to surprise to the upside later (although I wouldn't put my money on it). I also think people were hoping day rates would be a little more improved than 10%. All in good time.....
For them to initiate an equity research report on GMS?
Wonder what they’ve appointed Arden Partners for ?
Clearly someone doesn't like it....
Any idea as to when the trading update is released?
Rocket fuel purchased with paddles sold at 4p. More contract news on the way won’t be long before ignition. Sure the dinghy dong will be back with Armageddon Tales.
Have been onboard since 3.3p. Enjoy!
Wigwammer, move up to first class in the rocket!!!
You are quite right Mcatee. Sequential guidance for h2 EBITDA is $40m+, and given further recovery in day rates since this forecast was given, additional contract news, and oil strength, we are likely looking at $80m as a very conservative base for 2022. This is precisely why the market has materially lifted the stock price in recent months on decent volume - the necessity of further dilution is receding and if it does go ahead, there will be greater appetite to get exposure. Some piled in at 3-4p. Others did not. The market is the final arbiter here. ATB :)
So now you’ve jumped to FY22 even though they’ve not issued FY 21 yet, all well and good moving the goal posts Boris but if they don’t raise the highly dilutive $50m the banks will have the lot anyway.
EBITDA for 2021 is $65m - but $25m was in half year to June. By simple mathematics you can deduce the the EBITA from 1 July 2021 to 31 December 2021 was $40m - that is $40m for 6 months. Rates and utilisation will be improved for 2022.
EBITDA guidance from the company was $65m US dollars Mcatee why do you think this has changed to £80m sterling? Oh and don’t forget they are still $400m in DEBT. You’ll be walking the plank straight off one of the jack up rigs
Market cap £60m and EBITA £80M!!!!!!!!!!!!!!!! U r a plank if you can't figure it out!!!!!!! Onwards and upwards crew!!!!!!!
Needs to go a lot higher Mcatee £60m Mcap and they need to raise $50m, MASSIVE DILUTION COMING
Just back from recharging my batteries in the Caribbean - spending my future Gulf profits! Looking forward to the full year profits announcement which will take the rocket to the next level!
This year is going to be the year!! We will be very rich my friends!! No turbulence and clear skies ahead - booster ready for activation! Shewd move Amtech waiting till we reach 12p before you buy (could have got in for 2.9p a few months ago)! But I'm sure you know what you are doing - NOT!!!