Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
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Open annual report.
Word search "Reserves"?
Wild stab in the dark.....
Presuming that underwriting a diversity of risks requires reserves to be placed to one side, as policies underwritten today, may not be settled for years. The reserves needed, could either be understimated or overestimated to ensure payouts.
Where do I find total Saga reserves available and the amount used made of these reserves in last few years.
Help appreciated.
Appreciate the clarification 👍🏻 have a great weekend
Hi Billzo,
The Net Debt figure was ÂŁ711.7M in January 23
The Net Debt figure was ÂŁ657.4M in September 23
The Net Debt figure will have increased slightly as stated in Januarys Trading update as cash was in the range ÂŁ135-145M
Net Debt will remain in the £600M’s but remember the company is now generating positive cash !
I would expect Net Debt to be sub ÂŁ600M by Jan 25
Happy Weekend
I have the net debt figure at £711m…..appreciate it’s obvious but that includes the available cash, which is essentially the bond payment……so the debt figure will remain at £711m after the bond is paid if they use all available cash which they won’t as they’ll be using more credit from Roger…..so the net debt position might increase?
In last years Annual Report Ship Debt was 469.2M pounds.
Total Net Debt was 657.4M pounds.
150M Bond will be paid in May 2024 from a combination of Cash and loan from RDH.
Current value of the 2 Cruise ships is ?? My guess 800M pounds
These 2 Ships will make 80M+ pounds EBITDA
However the Interest , Taxes , Depreciation and Amortisation will be close to 50M pounds
So the net profit of the 2 Cruise ships will be closer to 35M pounds
Happy Weekend
The market value is now based largely on what it is to commission similar ships. This will be most important in any sale or leaseback deal. Intrinsic value has increased significantly and when added to the load factor makes them very desirable!
Thanks Bilizo, do you know how much debt they have tied up in the ships?
Lol, doesn’t sound too bad!
You could sell your house and live on a saga ship for the rest of your days. lol
Jokes aside I guess my point is if you sell the ships and lease them back, you can pay off debt but you’d then just be leasing them back. I’m interested to see what deal they’re looking to sort and how that helps long suffering share holders
Completely understand that, I still don’t know how that helps. My house is worth more than I bought it for, if I sell it I’ll still need somewhere to live 🤷🏼‍♂️
I think he is saying that they may be worth more today than when they were built.
It probably would, I’m not sure how that helps Saga, unless I’m missing something?
To replace those ships would probably cost 1 billion today!
Purchased with credit
Does anyone know if saga owns their two cruise ships outright? Or did they purchase them with credit?
I'm just trying to work out if they did sell or loan their ships what would their balance sheet look like? Would their debt reduce heavily?
"AVIVA ... their price increased 27%, SAGA were 14% cheaper"
Well reflected in the share prices.
Hi Alnwick,
Well I don't know how they quote then! GR4, lowest postcode. Aviva did try it on so I just went back n via Confused. Job done.
Oh and Aspers my old fruit-also Defacto 5* also! They should do a shareholder discount...
Hi Rogue,
We have 2 relatively quick cars.
Audi SQ8 and Mercedes E53 AMG
We switched from AVIVA as their price increased 27%
SAGA were 14% cheaper
Let’s hope they are sticking to “Pricing Integrity!”
Plus gaining market share..
Pertubed... you are obsessed with moaning about this stock you threads are all doom... do yourself a favour take your cold feet and go somewhere warmer and more inviting to you. :)
Hope our man in the UAE doesn’t get cold feet and sell out then we would have problems
Cheap is not always the best, maybe OK till you need to make a claim. All SAGA insurances are rated 5 Star by Defaqto. You pays your money and makes your choice.
Alnwick, its funny-They are always way off for me-over 30 years no claims but a fast car. Aviva get the work every year. And look at them? They need to review their algos.
Nice man Billzo, your parents must be proud of you. 🤔