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Goodness a big drop today, no idea why
Norwegian Cruise lines which includes Regent lifted guidance.
Something similar after SAGA’s AGM. would be good !
Norwegian Cruise Line Holdings (NCLH) shares sailed 7.6% higher, marking Monday's top performance among S&P 500 stocks. The company lifted its full-year profit guidance, highlighting strong demand. Norwegian also introduced a new strategy aimed at enhancing its position as a market leader in vacation experiences, on land as well as at sea. The positive outlook also helped buoy other cruise operators' stocks—shares of Carnival Corp. (CCL) and Royal Caribbean Cruises (RCL) were up 7.2% and 4.1%,
I think you are right there must be a deal or maybe Eldose is buying again from the share price movements.
Topped up today
I dont think the deal is over. These things take time and there would be an RNS is is was deal was dead in the water
Also Homer, this would be a sale and leaseback arrangement.
SAGA are not just selling the ships and getting rid of the cruise income which is the most profitable part of the business.
Surprised by those comments Homer it's no secret that there has been lots of
Interest in the ships. Not sure if we want to get rid though. More likely we will refinance them unless we do some sort of a partnership deal with one of the interested parties. We will know soon.
Saga has two nice ships. But I don't see anybody buying them.
It's a niche product and it just doesn't fit it into the strategy of many cruise lines.
I would keep them as it's a decent revenue stream.
Good News that the Bond has been repaid.
However it would have been nice to learn how much of RDH £85M was used and what facilities remain !
I’m sure the negotiations with AGEAS will be ongoing.
So agreed looks like they have repaid the bond using rogers loan, which is not ideal. Was hoping for sale and leaseback deal but heyho
As the deadline for offers on the lease and lease back has long since passed, and no news has been forthcoming one sadly must assume that they couldn’t get anything worthwhile. Very disappointing if true. I hope the management is actively pursuing options and not simply collecting their money for sitting on their hands.
All of this will mean nothing if they can manage to flog a part of their cruise line, will settle all their debt worries and some.
Deutsche Numis came out with a number of Upgrades and Buy recommendations yesterday and SAGA was one of them.
Its really a reiteration of the Numis Buy from last year at 154P
Another of their Buy recommendations that caught my eye was CAPITA.
If you think SAGA is a recovery play take a look at CAPITA
It's been a disaster but they have a new CEO with a strong IT background.
I added it my Portfolio a few weeks ago as its a play on AI.
Deutsche think its a Buy with a 250% upside at 35p !
I hope they're right.
DYOR
Maybe the rumours of the Insurance buyout are helping the current upward trend
Hi Alnwick,
Hola from SCL.
That was RNS 15/1/24-no change since then I think?
GL
Thank you Alnwick.
Hi Batfasted,
Eldose had 8,683,085 SAGA shares a few months ago. He now has 10,000,000.
Artemis have also added to their position.
Best Wishes
Hi Alnwick. What makes you think this man is buying?
Looks like Eldose Babu from Dubai is still buying.
Eldose is now SAGA's 2nd largest shareholder with 10,000,000 7.052%
Trading under way - market cap 11.5 Billion dollars.
I ordered a new boat in the pandemic times for 1.2m. The same boat to build these days is 2m! On this basis the value of the cruise ships are significantly under valued at 1b!
Flotation today in the US with a targeted valuation of 11 Billion dollars.
SAGA market cap £156 million
I don’t think SAGA will sell the Cruise Ships as they now make most of the Profits !
These ships are worth £1B in todays market.
SAGA Net Debt at year end was £637M
As interest rates fall and profits rise the debt will be paid down and refinanced.
I think the smart play is to sell the Insurance business and the new relationship with Ageas suggests that may happen. Ageas recently bid for Direct Line.
It’s difficult to determine the value of the Insurance business but Ageas have a great insider view and a relationship.
The current Market Cap of SAGA at £155M is
Crazy Cheap !!!!
A Sale of the Insurance business could potentially wipe out the debt and leave a Cruise and Travel Business making close to £100M.
Apply a very conservative multiple of 6 times profits and you see the Value upside
Then SAGA will be Sailing !!
Rupans, yeah I get the logic for sure. Let's hope we get some news soon. I have a couple of things that need a big top up sooner rather than later.
What about ship refits? Cruise division is the only part doing really well.
Still feel someone will buy Saga. Just need to get a crazy CEO like the one at Nationwide who wants to buy Virgin banking. Let's make a great company overnight a second rate outfit.