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Downbutntout are you looking for lower entry? what is your game?
Kids easy.
Petrofac was worth more than double what it currently is valued at just 2 months ago!
Shorters will be trying to manage an exit. Still looks cheap and a buy on my Christmas list.
STIs - Short Term Investors who paid low 20’s and under are booking profits. DON’T LET THESE GO CHEAP NOW THE TIDE HAS TURNED!
AIMHO
Chances of a buyout at sub £1 seems likely as money talks and PFC have the contracts. If PFC go it alone it could also be the ultimate recovery story over next 5 years. With the next market cycle about to kick-off , I would not bet against them.
There will be plenty articles and news floating around PFC Turn around story.
Will get exposure to hedge funds managers etc
With interest rates to be reduced in coming months, the money will be flooding back to commodities and cheap stocks like PFC.
Just happy for the long term holders and sufferers. It is not toast at all but quite the contrary.
those recruitment campaigns and new contracts awards in millions are worth it.
In Oct article, PFC CEO said their back log stand at $6.6billiom.
Today he said they close the year out at $8billion.
So thats $2billion more they won.
Will attract eyes and funds now. thank goodness!!
With that backlog and more to come.
The finance will sort itself out.
PFC have strong roots in MENA (middle east) and in Europe.
With WG, Saipem, PFC. these are guys run EPC contracts and collaborate in number of projects. But I dont think WG or Saipem has the Emirati exposure as PFC which is why i think going forward PFC will be preferred partner for ADNOC projects,as we have already seen.
That was strong conference call.
Management team CEO CFO leading from the front after losing millions in marketcap.
Tough questions asked but like many summarised here, VERY positive and not a company to short LOL
sorting the finance is on going and will be updated before next trading update. So look out for those news.
Tough for the non believers and will likely remain in the future.
I'm glad I will see my 3 figures price again!
I think this is getting bought out in 12months.
9000 employees and $8billion contract won already this year and $400billion more to come next year.
This is getting bought out !!!
Absolutely , the shorts will not touch this for very long time now like i said before
This will settle in at 50-70p region in few days.
Chief Financial Officer, will host a conference call for analysts and investors at 8.30am today.
+44 (0) 330 551 0200. Password: Quote ‘Petrofac Trading Update’ when prompted by the operator.
Dont think shorters anticipated the second TenneT contracts ward of $1.4billion
Jesus 20mins in and cant get a quote or a buy. broker says impossible when i rang
Cant buy at all
The Group has continued to maintain liquidity above its financial covenant. Interesting day ahead
Thank goodness
Strong rns with proper clarity
Let’s just go
Strong hold this one.
Shorters will not touch PFC ever again.
Gone are the days pFc being shorted about 8%
These are not worth it for them
They got guarantees to the biggest contracts and are winning more contracts to 8billion
Just 🤩
Set. Match.
Share price usually follows bond price
They normally trade at same value
Could be similar to them with a US lender.
Fingers crossed. Check out SQZ RNS today.
apologises it has already been discussed here.
I suggest everyone sell up and be done with it
Be mindful that it’s only at 20p
This has been shorted to death since mid October from 80p.
Before the 4th Dec RNS PFC was trading around 15-20p range. So we have gained anything but lost a whole. There is nothing to be happy about.
If we reach 40p or above then we have some momentum.
Before the financial issue came to light which I presume around Oct/nov, it was trading 70p plus with same number of contracts won. So it would be relieve to get to that. Reliefs by adding 2p on a day when the whole market went up by 5-10% is silly
We are still at the bottom
Be realistic
So, if Petrofac generates cash from asset sales, its financial health improves along with its ability to secure these bonds.
Alternatively, suggested one source, clients could make concessions, although this “is not not something they’re talking about today”. A source with direct knowledge of Petrofac lamented its current situation, saying its cash flow issues mean banks will not issue letters of credit, so it cannot pay to subcontractors, contrasting this with the potential of it $5.5 billion backlog won this year. “The company is in good shape with a sound business backlog … the best ever seen in the last four years. However, the capital market is less convinced and has little confidence in the company.”
This lack of confidence is reflected in the stock price, which was languishing at £0.183 ($0.225) at publication time, down from £5.28 in early 2019 and an all-time peak of £16.72 in 2012. In parallel, its market capitalisation plunged to around £100 million this week from about £1.5 billion in 2019 after peaking at £5.6 billion in 2012. In August, Petrofac's future looked rosier when it said free cash flow was set to be “broadly neutral" for 2023 due to cash advances on new EPC contracts and capital being released from legacy contracts. However, this prediction did not materialise, which triggered Petrofac's early December statement on liquidity problems. As one financial source said: “You need liquidity to run your business. You need to pay people and supplies. You have certain obligations to your debt providers. You need to make sure you’re paying coupons on their bonds, paying interest on their debt.”