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Yes niki = I expect the reason for November y are the two delayed payments from last year. As usual when we get the full results my interest is - as always on the current year section. I think it will be positive and encouraging. Onwards and upwards is the cry!
From the update.
Revenue growth has continued in the new financial year, with the Group achieving record monthly revenues in November.
Dear Santa, I have been a really good boy this year, done all my homework and not hit my little brother. For Christmas, I wish the New Chairman of Hardide to sort out the operational performance of Hardide. A great technology with impressive customers and an attractive pipeline of new applications. Thank you Santa.
They do mot have many days left in December for the results.
PS. I've just read that this year the £ has fallen against the$ some 10-12%. around half of our revenue comes from Virginia so another little boost.
Lets hope you're wrong Ritchie! I've just reread the October update and there's a couple of financial events in the energy sector that are expected early in the new financial year. My guess is that this is the reason for the delay. Understandable and also frustrating. But the update was worth the reread - pretty positive.
Interims May 2022, "With the Company now being on a firmer footing and line of sight to profitability and cash generation". Year end trading statement October 2022, "The Company sees clear potential for the current financial year to show considerable improvement on recent years and the Board is optimistic about the future". Given the historic hubris of the previous chairman, the delay in announcing the preliminary results relative to previous years and anaemic share price, I fear the shareholders are set for yet more disappointment. Hopefully I am wrong...
Thanks niky for the link. As this testing is the result of previous testing I'm guessing we'll get a favorable result. As the length is 5 months we could even get an order this financial year! Not betting on it but should get something next year and beyond. Perhaps a small string to the bow at first but hydrogen energy does seem to have a future.
Can accord seem to be a bit in and out.
I'm watching for trend change
still placement overhang, and no visibility on fcf+==>always potential for yet more placements
am not in here but not I don't think Canaccord are dumping, they bought/added in the placing recently ?
World of Pain
tp 5p
Every coin has 2 sides and you appear to focus on the negative side. That's your choice but not mine. Not too sure why you hold here but Hey-Ho, it takes all sorts.
It seems appropriate to pick out two sentences from your post.
“Similar with Leonardo …. they also wanted testing on their own rig but this was often prebooked for other tests.“
Which is more or less my point – if Hardide were felt to be important the testing would have taken priority over other tests.
“However all the companies would have been aware of the price range of HDD's coating before starting testing. “
But, from a shareholders point of view, it seems pretty clear that HDD have been undercharging for their product. To be seriously profitable they need to raise prices and we do not know how they determine their prices. Is it just inadequate financial management or maybe they do not have adequate pricing power despite being a monopoly ?
I first bought here in 2006 and I've covered every step of the way. Some aerospace companies can be both hidebound and bureaucratic. Just getting on to the approved supplier list took many years and inspections from airbus. They had to approve both the premises and also our production processes first - never mind the product! In addition airbus and Leonardo don't actually make most of the parts themselves but they are assemblers and so suppliers to them are involved. Fortunately our process needs little alteration from the original product specification but still all of them had to be involved. Similar with Leonardo and they also wanted testing on their own rig but this was often prebooked for other tests. If you want more detail you can read the relevant RNSs released at the time. However if you consider BAE Systems and Lockheed Martin they took, I think, around a year or so.
However all the companies would have been aware of the price range of HDD's coating before starting testing. We have no direct competitor and are truly unique so there would be no reason for us to reduce our margins. Our pricing power is secure.
However if you consider the length of time that airbus and Leonardo spent testing perhaps this, in fact, demonstrates the importance they attach to HDD?
Yes - I have considered. I can see no way that approval would have needed more than four years if Hardide were considered important.
Perhaps you could explain how an opposite view could have any credibility.
Hallo tbow112, Have you considered that the opposite may apply!
The extraordinarily long time for approvals surely indicates that the aerospace industry does indeed attach much importance to Hardide products and that, in consequence, the company will maintain its pricing power.
The extraordinarily long time for approvals surely indicates that the aerospace industry does not attach much importance to Hardide products and that, in consequence, the company will have little pricing power.
Hi Riche, What was the trust and confidence that was lost by the last Chairman? I most certainly agree that there were a slew of delays but HDD were passengers in the airbus(13 Yrs.) and Leonardo (7-8 Yrs.) protracted in house procedures. Covid was both unexpected and a worldwide disruption.
HDD is a bit of a guessing game/juggling act. One reason is the lead time of a year between ordering reactors and installing the and the aforementioned customer testing delays are another.
The turbine customers made quicker decisions, only some 3 years or so, but that was helped by HDD commissioning and paying for certain independent testing off their own back and making it available. A wise move in my book. However we now see to be getting out of the woods - onwards and upwards from now on.
one trade yesterday
Date Time Trade Prc Volume Buy/Sell Value
28-Oct-22 14:19:47 15.39 64 Sell* 9.85 O
I agree. Lost trust and confidence in what the previous chairman was saying. Fingers crossed the new chairman will bring back the badly needed trust and confidence and move Hardide to a solid footing.
While it is welcome news, a few years ago we would have seen a significant rise in the share price off the back of it. I think people are more cautious now - they’re waiting to see what the actual figures are.
This is a real shot in the arm. Just re-read the trading update released on the 13th. Because of the various delays last year that should translate into revenue this year I think we've got a record year on our hands. For me the proof of the pudding will be orders for new reactors - importantly the larger one!
One curiosity is that Leonardo was not mentioned in the update which was only a fortnight ago and as they've received the parts already they must have had at least an inkling?
Well done Hardide.
The next effort I think should be to have a word with Ronseal:-
The Ronseal Phrase
Originating back to 1994 the popular phrase 'Does exactly what it says on the tin' was developed when Ronseal employed London based advertising agency HHCL to create a campaign that without trying too hard would de-mystify our products.