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My own preference for IM would be to part sell but retain a significant stake. Would ease pressure on debt but still give them skin in the game
https://www.linkedin.com/feed/update/urn:li:activity:6968483370678808576/
Arnish seems to be doing well. To give credit to H&W they have bought Arnish and Appledore, employed people in both locations and have work booked in for good period of time.
Yeah im an investor and I want a return on my investment but it is good to see yards getting back into manufacturing and employing and skilling up young people.
Onwards and upwards
Good news and very good that it is their largest contract to date.
And then on the very next slide financial close! Ah well 2 more months
On their gantt chart it says 9/22 for definitive agreements
Thanks for those Stokey. Hope the Hamburg show goes well
I would agree next 6 months will be important with new board member in Sept, JR later in year amd FSS announcememt likely to be in next 6 months also.
Arnish and Appledore look set for a while. Belfast has the barges as far as fabrication to come but I would like to see ship repair a lot busier amd also with regards to Methill or Belfast some large renewable contracts.
Group Business Update and Outlook
Harland & Wolff Group Holdings plc (AIM: HARL), the UK-quoted company focused on strategic infrastructure projects and physical asset lifecycle management, is pleased to provide a business and trading update for the year ended 31 December 2022 and an outline of management's aspirations for financial year 2023 ("FY23") and financial year 2024 ("FY24"). Given the many variables which need to be considered, these aspirations should not be construed as forecasts but as management's framework for the direction of the business.
Current trading and FY22
As announced previously, the Company has secured three material contracts in quick succession; Cory phase 1 at £8.5 million; Cory phase 2 at £9.6 million and the M55 Regeneration Programme at £55 million (with the potential to further increase the contract value at the client's option). In addition, a number of smaller contracts have been executed - and will continue to be executed - at the Belfast and Arnish sites which continue to provide a steady stream of work and cashflow for the Group. The first and fourth quarters are normally the busiest for the Belfast repair dock and we expect to welcome multiple cruise and ferry vessels into Belfast during these periods. Arnish is also set to become busier in the last two quarters with the facility fabricating across multiple projects simultaneously.
Therefore, management maintains that it remains comfortable with market guidance of revenues between £65 million - £75 million for FY22.
Outlook for FY23 and FY24
Background
The Company has announced previously that it has built a strong backlog* of £40 million for FY23 due to recent multi-year contract wins. More broadly, management has identified opportunities amounting to approximately £1.2 billion, across the Company's five key markets; cruise & ferry, commercial fabrication, energy, defence and renewables.
The Company recently secured its first contract from the Ministry of Defence as a 'Prime contractor' and has also submitted its bid in relation to the Fleet Solid Support (FSS) Programme, with the FSS contract award expected to reach 'preferred bidder' status in Q4 2022. The Company is also collaborating with other 'Prime contractors' to take on sub-contracting work in relation to their own respective programmes, with much of that work to be carried out in the UK in line with local content requirements and broader UK Government policy. The UK continues to suffer from insufficient fabrication capacity to take on all the fabrication work that is due to commence from 2023/24. Harland & Wolff retains one of the largest fabrication footprints in the country and has enormous flexibility and optionality across the yards to offer optimum fabrication solutions, particularly for its defence and renewables clients. In summary, the Board believes that the Company is well placed to play an important part in the FSS Programme.
Following the recent Sco
https://twitter.com/NavyLookout/status/1559164273523392512/photo/1
Interesting that JW states that if the JR is successful they may not need a marine license anyhow due to another technical way of doing the project. Also it does sound like they are considering selling the whole project at least as an option.
https://twitter.com/NavyLookout/status/1557693207793860611 Quorn being towed to Appledore
interesting article if written with an agenda.
It’s also a breathtaking 265 per cent increase in energy demand since 2015. However, it’s not unexpected. Such growth has been predicted for more than a decade. An Oireachtas committee was told last year that if all pending data centre planning applications were granted, data centres would be eating up 70 per cent of Ireland’s energy supply by 2030.
found the above paragraph of interest. that is a huge increase in power requirements
Decent write up, thanks for posting.
Saw that being built at the last investor day. Think it was contractors in building it using the H&W facilities
This is the first ship build contract win since our Belfast shipyard was acquired in 2019. We anticipate further such contract wins as we actively target major fabrication programmes such as Fleet Solid Support warships.
Reads like a good appointment to me
Couple of big buys there at the end of today
A welcome step forward if it happens.
Perhaps is they win FSS that may come through that as Wallace also referred to that as a possibility