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Could you write the RNS GFD , you make some good points my son.....
Not what I was hoping for tbh.......
They seem to be working for the banks, not the shareholders.
Looks like they need everything to go right just to survive.
What's everyone think....
Results tomorrow.
I dont expect them to be great. I am expecting the turnover of less than 110 Million.
DONT BE DISPONDANT.
Workload is increasing, the order book is increasing (by nearly double) and the debt is coming down (I imagine to around 370 Million).
https://www.4coffshore.com/windfarms/gms-endeavour-berths-in-blyth-nid7036.html
http://www.geothermltd.co.uk/blog/geo-therm-ltd-bags-gms-endeavour-irt-survey-hornsea-wind-farm-construction/
https://events.newenergyupdate.com/offshore-wind/conference-attendees.php
https://www.google.co.uk/url?sa=t&rct=j&q=&esrc=s&source=web&cd=4&cad=rja&uact=8&ved=2ahUKEwilhbKw3ZjhAhXxUBUIHWGUBuUQFjADegQIBRAC&url=https%3A%2F%2Fwww.thecrownestate.co.uk%2Fmedia%2F2860%2Fguide-to-offshore-wind-farm-2019.pdf&usg=AOvVaw1c5LQo26jWIB0Xt1yOBSVU
Also read of vacancies in Singapore?
https://renews.biz/111579/gms-lends-hand-offshore
https://www.offshore-technology.com/news/newsabs-approves-gms-cantilever-system-for-sesv-5934655/
https://www.offshore-mag.com/articles/print/volume-78/issue-3/production-options/cantilever-extends-workover-reach-for-gms-jackup-barges.html
https://www.osbit.com/osbit-delivers-industry-first-jack-up-vessel-boat-landing-system-for-gms-endeavour/
https://renews.biz/46526/gms-lends-hand-offshore/
https://www.4coffshore.com/windfarms/gms-pocket-rov-nid1770.html
https://www.4coffshore.com/windfarms/gms-endeavour-berths-in-blyth-nid7036.html
Pretty sure it was an all blue day FRI. Double checking the price.
Around 60k gone on.
As usual mid prices getting confused. showing as sells.
FY results not far away,
Loan re-negotiations,
Chairman Replacement.
Other BoD (CFO) to follow.
Increased Workload
DYOR.
https://www.utilities-me.com/power/11904-industry-trends-offshore-wind-in-the-fast-lane
http://newenergyupdate.com/wind-energy-update/middle-east-and-north-africa-wind-capacity-forecast-hit-23-gw-2027
https://www.windpowermonthly.com/search/articles?KeyWords=middle%20east&HeadlinesOnly=false&SortOrder=1&Date=2019
WAS 58% NOW 72% Cant make a profit if there isn't any work!
Looks like there will be more to come.
https://www.windpowerengineering.com/business-news-projects/middle-east-to-add-12-gw-of-wind-capacity-over-the-next-10-years/
https://www.thenational.ae/world/europe/uae-backs-breakthrough-in-offshore-wind-energy-tech-1.744957
Good weekend too you Sbb. I have you and Btfath on my favourites list. I got a new hedgecutter so i am attempting to do my wife's bikini line this weekend. Wish me luck.
Take care all.
15p
Price extension twice. Not sure if stock closed at 14.05p
I wont mention Seafox after this, as you said we need to move on from them, other than as I tried to find out more about ownership I read a lot of things peripheral to it.
I am not sure if Seafox couldn't add to its workload (or buy it back if work picks up?).
I read somewhere they only sold a controlling interest (they still own a substantial part of it) and what contractual conditions are put on that sale only they know.
Financially a takeover looks unlikely from that quarter that's true.
At wanting to buy 25% at 18pps they managed just under 14% when they stopped.
So yes it would be costly.it certainly wouldn't come at 18pps But the 14% did come cheap.
I didn't find that much on Seafox ownership (my fault probably) so I couldn't tell how much backing there is .
But with Seafox 5 it would not surprise me if industry workload increases and Seafox gets the opportunity, they have some sort of clause in there to buy it back.
You never know they might use the profit off of GMS increasing to do it!
I agree,
I they did pull the recovery back down. I have never seen an offer of a lower value than its trading PRICE before.
Quite remarkable!!
Am I right that Seafox isn't a listed company?
Its a private LTD company?
looks like the site is picking up buys as sell.
37k in buys today.
dont be fooled.......
Something I was thinking about,
GMS has some seriously large assets. and seriously undervalued price.
Do you think that seafox bought in to reduce the likelihood of a takeover?
Or that with part of the renegotiations that GMS will buy back some of its own stock?
It would make sense to me. right now.
Forgot to mention Happy Birthday!.
Didn't watch anything to do with Brexit Last night, too busy looking for webforms.......Last time I watched it I thought not one person there has the sense to buy her a bottle of vicks chloroseptic.
Been better coming from another party.
I agree somewhat, from my experience the chairperson will have the big effect on the price(probably with a buy in).
Dont get me wrong, other brilliant news could well do! Massive contracts, loans agreements, better results or something leftfield we haven't thought of.
It is indeed useful to see that looking forward to h2 the shift in workload (increase) and work type.
Also interesting are the round of cost cutting measures from the year before.
That must have some effect on the results.
As you say it could be a while before this turns seriously upward.
The boats having work.....gotta be a good thing. NOT EVEN FACTORED IN ON THE SP.
You have to love it.
GFD, had another and final look this evening.
Cant find it. Reckon you right. It could well have been under maintenance.
It might have even been a link from inside a document. But I couldn't find it. Anyway I give up.
The increased workload should give long term holders a bit of cheer. Many wont believe it.
With the confirmed new contracts the turnover should be put just under half way in between 2016 and 2017. So lets hope the it there is a re-rates, back to around the 2016/2017 levels not the high 30's to mid 40's........It may be a wait. But it could be really worth it.
http://www.gmsuae.com/investor-relations/results-and-presentations/
They give a bit of insight here.
Increased workload (yet to be seen on the books) in renewables and a move in workload from Saudi to the UAE.
Also states its not just a GMS problem. The industry as a whole has had similar problems. So GMS getting the increased workload should be seen in a much more positive light going forward than 42% of the fleet sitting idle.
You never know. there may well be more work in addition to those contracts they can negotiate? Still cant find that site! had a look this morning GFD.
Yes the blue returns.
After the excitement of the vote on Monday its all gone quiet.
The results will be next. Non of us are expecting great news there (I think), but we do know that with the new contract confirmations in the beginning of the year, the turnover is back up in the sort of area that will make a profit (good job they are long term too). Perhaps a few PI's see this and are happy now the votes out the way?
Its getting silly.
Still cant find it.
Looked for another 30mins.
I found a login page for the website. But it just had a register button. it didn't specifically mention webcasts;
That wasn't the one I remember.
The page I remember had an email address "info box" to fill out.
I might contact them at the weekend and ask if I cant find it.
Yes indeed GFD.
I have hardly looked at a compter or the price today.
I have just spent over 30mins looking to find the webpage again. I canny find it again.
It was one page on the GMS website.
It was a form like affair you could fill in and then register to allow you to watch the upcoming financial presentation webcast.
I am not sure it was under the investor relations tab tbh
Which makes me wonder if it was a form I came across that was for staff only?
If they are spread far and wide it could be the only way to give them a situation report.
it didn't come up when I searched webcast
but then neither did the old webcasts stored on the site?
I can find last years published on the website.
Its under the investors relation tab
Also there
GMS 3 part plan. released in march.
http://www.gmsuae.com/investor-relations/results-and-presentations/
dont know if you knew this?
We continually seek ways to enhance our vessels and the services we provide through technological innovation. In 2017, we added a cantilever well work-over package to our expanding range of low cost alternatives for our clients.
We can build and modify our vessels at our own yard in Abu Dhabi. The sophisticated design and operational efficiency of our jackups allows us to offer cost-effective bespoke solutions to our clients. This, along with our excellent safety record, is what defines GMS."
It looks like they have seriously reduced the head count attributed new build side of it. as there is oversupply of vessels?
Waiting for the demand to pick up.
Perhaps Seafox was hoping to cut it altogether? That's how they would have boosted profits and managed bigger savings?
I will keep looking.
but it will be when I get a chance.
sry GFD been looking for ages and cant find it again.
it never even crossed my mind to bookmark it.
Your welcome ....... hopefully some big buys ;-)