Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
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Thought I had Ge0, give me yours and I'll send a message, rarely use it tbh.
You'll be lucky Mary
Are they in Auction
BTW
Weren't you going to give me your twitter angle
Timber...................... buy buy buy coming up.............
Net debt doubled.
Free cash flow position improved but still negative. Both can be imporved on selling assets and reduce costs (people).
Revenue and margins improved likely from projects awarded last 1-2 years and almost completed.
let's see...
I’m sure your drilling will unearth some gold..
I think I will wait for the webcast Transcript Mary .... drill down into some detail
IMO, it is the debt angle, Mary, which is driving the market sentiment here.
Some good stuff in the update, but not enough to justify the old trading range, let alone better, IMO.
But like you, I do like this one with a longer term horizon, but it is purely a trading one for me right now. Well, it is if I get my price of course :) GLA.
" Performance will be weighted to the second half, reflecting the typical seasonality of our business "
" Exceptional cash flows are expected to be around $120 million and will be weighted to the first half."
" on-track to deliver significant free cash flow in 2025"
So, looking like from H2 and into 2025 things will really take better shape
Analysts and the market will now work on their Excel sheets to predict H1 earnings and cash flow
Save a jar for me Mary
Morbox, saw him by chance as was watching the bridge collapse.
Takeaways
# Growth everywhere, especially consultancy, carbon capture and O&G security
# Clients like what they do and come back asking for more !
# Consultancy business is high margin and will become the main earner - (seems the switch is paying dividends)
For those worried about job losses last week, there are currently 500 vacancies as jobs are expanding due to the record orders.
IC seems right for once.
WG. price is at the ground floor and going up soon.
Cannot believe that the market missed the guidance upgrade.
Mary has been sterilising the jam jars ready for all the jam that is coming in 2024/25.
GLA DYOR.
Probably won’t open but it’s a buy with IC and a strong buy from me
KPA, apparantly the earth 's core is causing increased volcanic and earthquake activity . Evidence that it is a contributor is that the oceans have warmed more at lower levels and the antartic sea ice has thinned near a fault line but increased away from the fault line. Problem we have is that only a few scientists want to deviate from the narrative that it is all down to carbon dioxide. I am no expert btw.
Results are OK but FCF and an increase in net debt still a concern.
Being A LTH I am forced to hold for the promised up turn in 2025. There has been quite a few promises now and one always has to be wary of "jam tomorrow".
We live in hope and I would hasten to add that I am a genuine shareholder unlike some regular posters on here.
Ken is doing an interview on sky news now. If anyone wants to rewind!
The eartĥs core ot heard that one before.
The results looked pretty good to me it is just that it is tarred with the oil and gas brush even though much of the business is in other sectors. Frankly I think there would be huge value creation by splitting the group up and getting a premium for the non oil and gas parts but I have seen nothing on that front . Lets hope for a bid and that the scientists start to realise that the extra activity in the earths core is causing most of the sea temperature rise .
The EV world is not all it is cracked up to be.
Thanks, remember reading that but did not find it noteworthy but worth a 2nd look.
At least 888 went the right way today... adding WG. each drop.
MaryBr190 - Fair points
Execs moving to US hinted here - https://news.sky.com/story/oil-engineer-wood-group-to-cut-hundreds-of-jobs-13098692
With regards DT - google it. he repeats it now and then, probably for votes
Alliance News) - John Wood Group PLC on Tuesday announced improved annual earnings, lifted its outlook and announced a "simplification programme" to trim costs.
The Aberdeen, Scotland-based engineering and consulting business said revenue in 2023 rose 7.9% to USD5.90 billion from USD5.47 billion. Its pretax loss narrowed to USD62.7 million from USD691.4 million.
Adjusted earnings before interest, tax, depreciation and amortisation grew 8.8% to USD423 million from USD388 million.
It reported cash flow from operating activities of USD48 million, a swing from an outflow of USD361 million.
"We made significant progress in this first year of our three-year growth strategy. We delivered strong revenue and adjusted Ebitda growth, and we significantly improved operating cash flow," Chief Executive Officer Ken Gilmartin said.
"We continue to see clear business momentum, with a higher order book, double-digit growth in our pipeline and positive pricing trends in both pipeline and order book. It is encouraging that the fastest growing parts of Wood are the higher-margin Consulting business, and our sustainable solutions across all areas."
Gilmartin said Wood Group has launched a "simplification programme to drive efficiency". It is eyeing annualised cost savings of around USD60 million from 2025. The programme will have an "initial focus on central costs", where costs are expected to be trimmed by around USD10 million this year.
Looking to 2024, it expects adjusted Ebitda growth towards the top end of its mid to high single digit target. In 2025, it predicts Ebitda growth "above our medium-term target".
"We are on-track to deliver significant free cash flow in 2025, as previously guided," it said.
Wood Group did not resume its dividend, which it had axed following the onset of the Covid-19 pandemic.
Shares in the company traded 1.7% lower at 145.70 pence each in London on Tuesday morning.
BearFoot - have you a link to the press article referred to please?
Drill Baby Drill
Watch the first 3/4 minutes and you can see what wokeCNN Sly news & BBC do not report.
The only way this does not happen is if the CIA-JFK-DJT ! The world awaits.
https://www.youtube.com/watch?v=Fr3ccVc21Dc
IF articles in the press are to be believed execs are relocating to the US.
With a high probability of DT becoming next US pressident will he stick to his words of Drill Baby Drill?
If so that may be pay day for WG and shareholders.
A long wait and could be some downside before then, but maybe worth it in the end.
The dip here is a clear opportunity to add. This is undervalued compared to peers on any metric you care to use. Same can be said for most UK shares at the moment. This won't persist.