Great update very positive only minor blip I can spot is the draw down on cash for materials but again this is necessary and well explained. Onwards and upwards
Keep the faith . Easy to find online and worth a look . Just enter top 25 EPC companies into google. I am amazed we are number 3 . Waiting game
“ Petrofac has moved up on our ranking as the company continues to advance major projects in the region, both offshore and onshore. Moving into the second half of 2022, a significant increase in bidding activity has put the company firmly on the path to grow its backlog over the full year.
Supported by a strong commodity price environment and an increasing focus on energy security, Petrofac is focusing on new energy infrastructure projects, capitalising on the growing investment in this market.
As of 11 August 2022, Petrofac’s E&C division reported 18-month pipeline of opportunities worth $45 billion with $7 billion of bids already submitted and a further $7 billion under tender. Opportunities scheduled for the second half of 2022 are expected to be awarded evenly over the period. Petrofac’s reinstatement to ADNOC’s commercial directory provides significant growth potential in 2023, and activity is picking up across many of its core markets.
Petrofac has set an ambitious target to reach net zero in Scope 1 and 2 emissions by 2030. Also, the company has committed to have 30% women in leadership roles by 2025.
Strong dollar , Nike deals and resilient core shoppers , World Cup and Xmas , all strong positives . Let’s hope we get a turn up in sentiment soon. Well under half the price we were not that long ago . Adidas spooked the market today
There has been no awards of any real significance in a long time. This is the fundamental issue and highlighted by the Fitch downgrade. But Peel Hunt and JP Morgan are positive and see the back log growing . Sami is going to have a very awkward results day on Dec 20 th if a whopper does not land before then . Fingers crossed we get one at least one before year end.
Saipem Wins $4.5 Billion Installation Contract From Qatargas. Could this be one of the orders Petrofac were hoping for. This a whopper and we are badly needing one. Fingers crossed
We are needing a whopper contract win to get this moving North . I really do think one big win especially from ADNOC and this will fly . All oil shares in reverse not just Petrofac specific .
More than anything I think the uncertainty around the Dutch tft proposed price cap is causing mayhem .
Directors can now consider paying a divi ....'the credit of €50,000,000 to the share premium account of the Company was approved yesterday by the High Court ' What is everyone’s thoughts on this and what time line do we think it might take place ??
The Mcap versus the cash inflow is bonkers and a re rate and sustained move north must be on the cards.
Peel Hunt summer note sums it up perfectly. “ In its note Peel Hunt said: “The shares are on a single digit PE, which for such a good business, is a gift, especially as our forecasts could be conservative. We assume that buyer inertia comes from the uncertainties surrounding the new board structure, and that is fair enough, but for us it would be a case of shutting your eyes and buying it, so cheap have the shares become.”
Follow the broker targets and recommendations everyone either at buy or overweight . Solid company and to be at Covid lows is a joke .
Agree but lots of negatives on the release around softening of price . I hope the market appreciates everything you have stated . Not sure where this is going today
Based on the last update everything points to a positive Q3 but the outlook might not be so rosy. Any idea how the prices are holding up ??? I am struggling to get an accurate view of the ilmenite price and trend ??
There is obviously not 80% less liquidity but if you count the number of share holders that own shares regardless of the volume they hold then there is 80 % less .
Lots to keep an eye this week but confirmation we will be debt free by year end will be a major mile stone . The presentation is a good watch and let’s hope the numbers are as good as alluded to . Also good to see the new CFO putting his hand pretty deep into his pockets recently .
Great to see Berenberg keeping the buy rating and 790 p target price so close to results especially in this micro environment. That is really positive to see and hopefully next week will deliver
What is everyone’s thoughts on next weeks results ?? I personally think they will be good , based on the numerous positive comments from the board at half year results.
Can only be potential legacy horrors and the court case where wood are open to a settlement . Completely mid priced otherwise
Poker chips Sami is clear in his message there are multiply whoppers where Petrofac are down to the the last two, due for award before year end. We can only hope
I agree and Hopefully a whopper drops soon I think more than anything the market will take confidence that it is one thing getting taken off the naughty list but a totally different thing getting an award. Lift off time
6 weeks since Sami could hardly contain his excitement about the up coming awards and so far centre of donut delivered . I have listened to the Q&A again and you can feel his enthusiasm, come on petrofac land a whopper .