Member Info for Lottie123

Rod Stewart fan...thank-you for the info on the survey company. I will be sure to raise the point at the AGM

Dawski...I too despair of the behaviour of charging so much money (fees, salaries, packages) in a time of desperate cash need. I will reserve my judgement on JWs additional income from HW until I can speak at the AGM. On this page, it is just commentary from HW, JW and Arun haters.
Yes, we are right to be concerned as we have had to carry the can whilst they have financially flourished. Sept 6th is the time to stop being keyboard warriors and man up. I doubt we will be seeing the bile spouting crazies we get on here. Can't see them wanting to show their face when they can sit punching keys, drinking rose, smoking roll ups and flicking thorough climate change weekly...oohh and waiting for their next social security handout

The AGM is on the 6th September. At the last opportunity to meet and quiz the board, only Stokey and myself turned up. If you have lost a fortune in this company whilst significant remuneration has been had, take the opportunity to meet, listen and question. Wasting time on here will get you nowhere. Make the effort and meet like minded investors. Maybe we can all get a better understanding of the company we are all bound to. I say bound because selling out at such a huge loss, whilst the horizon looks positive (as it has for two long awful years) seems pointless.

Stokey. The Saipem business...is a French state controlled energy company using an Italian, semi state owned, contractor, who sub contracts to a local Scottish yard owned by an historically northern Irish company...employing a couple of hundred Portuguese subbies. That's a lot of snouts in the trough. Worst case scenario is the French protest to EU (again) that they want future contracts awarded to a French company.

Stokey...re Saipem 2, I believe the relationship between Saipem (lead contractor) and the wind farm owner, EDF, are strained. This could be the reason for the delay. I cannot see the next phase being fabricated elsewhere but Saipem may not be company awarding the contract.

Rod Stewart fan. The Saipem monies due has been registered as an asset but not taken as profit, due to deferral. This is my reading. If so, totally correct procedure. It does not show up in the revenue figure

Blairpeach. It was just a figure of speech. I do not need to justify myself to you. The majority of people, excluding total nut jobs, knew exactly what the implications of my statement were. Enjoy your day. Must be fun in Blairpeach world.

Top slicing ones holding, all be it at a significant loss, gives a whole new perspective on your investment. It clears the panic and helps focus on the reason you took the position in the first place. I am now far more relaxed about the survival and future prospects. The productive potential of the four sites will eventually pay dividends. The UK is the world leader in offshore renewable technology. The planned investment over the next 20 or so years is tens of billions. I feel sure HW will land a share of the spoils. Its just getting to the start line that's taking time.

Very upbeat article in Daily Telegraph, aimed at Bab and Bae. Whilst highlighting significant uplift in demand, it failed to mention HW. Hey ho.
One thing is for sure, these two firms have insufficient capacity if expectations of demand materialise.

I thought the presentation was about right. Cautious optimism laced with the reality of several new contracts. The value of this business, in view of the government's intention to reduce planning consent for offshore wind, from four years to one (bill in house of Lords at mo)...the defence requirements and IM, all point to guaranteed survival. If survival is not a concern, if break even is at hand from a standing start 3 years ago (despite covid) then we should not be dragged down by those who no interest in a company giving new life blood into communities bereft of opportunity for a generation. The job prospects of young people in these far flung corners of the UK are far greater now than 3 years ago thanks to the BoD. I for one, as a large shareholder, will be not only staying the distance but taking advantage of the apathy and shortsightedness of the investing community

Can I ask how many signed up to go? I, and my son in law investor, is two for a start.

Consuela. Stipped it commercially? How can you sat that with a straight face? Emoyee numbers have gone up dramatically. Each yard has been totally refurbished with huge investment. Sometimes I think you just make things up.

Consuela. I agree, but free cash flow is hampered when a company is growing fast and new investment in plant and machinery are required to satisfy the large, incoming orders. Once all 4 plants are up and running with good order books, the demands on new, tax efficient investment should level off, thus accelerate free cash flow.

Stokey...I have emailed the analyst requesting five mins of his time should he attend. If nor, I will ask the board to clarify the £40m

Stokey...I have assumed the analyst is aware of some future maintenance bookings and poss MoUs so rounded the Barges up but should have said barges and miscellaneous. It is possible they will have 2023 revenues of £100m booked long before the end of this year with 2024 starting to build. Let's not forget the significant backlog of losses which become a major asset when profits materialise.

The Twlegraph article, in my opinion, is written by jurnos paid to write an appaling, negative article. This type of activity was common place in the 70s and 80s. Many brokers had the financial print in their pocket. It coined a phase "Where there is a tip there is a tap" relating to ramp articles.
The Daily Mail article, on the other hand, is very informative and well written.
As for the contract, it only takes 2022 revenues to £70m (spread over 3 years) which will still result in an EBITDA loss of around £5m. Revenues need to breach the £100m mark to start profitability. That said, the revenues for 2023 have already reached £40m (as previously stated on this chat) so any further contracts this year will have some limited impact on 22 but help 23 get nearer break even. The Cenkos report was written without mention of the 50/50 chance of winning the Royal Yacht replacement, the result of which, is due very, very soon and would, if won, transform the company into a major player deserving of a £100m market cap. All in all, Appledore is now in great shape and confirms the long term aspirations of management. Nothing in the Cenkos report mentioned the purchase of the other, older minesweeper for spare parts and or, a super yacht platform.
I wish they could be a bit more thorough in their research.

https://ukdefencejournal.org.uk/britain-seeking-36-new-port-vessels-in-595m-deal/

I was not intending to do the Belfast gig having been to Appledore but the most recent contracts have persuaded me to try and rearrange my diary. I know Stokey is going, anyone else? I can only say that my visit to Appledore convinced me of the professionalism and dedication of the HW team to make this a successful business. I urge others to make the effort.

Now that the company is starting to fire, all be it slowly, on all cylinders, it would be appropriate for a broker to re-visit the prospects of the company. With the recent contracts and prospective MoD/Scotwind investment schedule, earnings for 2023 on wards, should be very good. If the MoD refit comes off, turnover for fiscal 2022 could (with a fair wind ??) reach £100m. Should they win the Brittania new build, who knows, 2022 could see a profit of some sort...EBITDA ish

Appledore has two sides to the dry Dock. As you look out to sea, the left hand side is for laying down with all the steel delivery, cutting, welding etc...then the Hull is usually floated to the right hand side for internal pipe work, engine etc before going out to the finishing Quay. The new Hull could be laid down (left) whilst the refurbishment of Quorn (plastic hulled) was being refitted (right) at same time.