Member Info for stokey12

The Yacht like the Garden Bridge was a Boris Johnson vanity project. This got to me thinking if it was going to go ahead now he is gone. I can think of better ways to use £200m.

Bubble2021 ref 20.47 If you are referring to the new flagship the contract has not been awarded as far as I am aware.

Bubble2021 ref 12.09 post the £5m was specifically for the cost of the FSS bid. It was not for bids in general that would raise competition issues. All the bidders for the FSS contract got £5m.

Speedy_Gonzalez ref 16.02 post On checking I noted two things firstly the share price started going up before JW's comments so at best W's comments fed into a rise that was already underway but was not the cause of it. Secondly, The share price finished up at the price it ended so all the losses in the last week have been recouped. From this I think it is possible that yesterday was a correction as people looked again more carefully at the underlying fundamentals. This would include the recent contract awards. If I am right we will see upward movement in the share price.

Avyererdowt ref 15.34 post the other thing is what he said about large contracts he made reference to export credit finance and using that to meet the costs. I wonder if Lottie123 knows how payments are made under these schemes is HARL only paid at the end or are there stage payments.

I see we have ended the week 0.25p up on the week which is good considering how most of the week has been going.

A much better performance in the way of giving a clear sight of when HARL would be starting showing a profit. I note that he is looking at profits from 2024. A good round up of work in all the yards. Hopefully more of these eqnquiries will turn into contracts especially the new builds mentioned.

Bubble3021 ref 11.35 post I only iistened to the first half but got the impression that it was just leadership elections related.

The full interview can be found here https://www.youtube.com/watch?v=y17a0BGkgw4

ban4118 ref 13.20 post Not meaning any disrespect but I need a firmer basis to be optimistic about any statement from the company about a three year plan. I have written to the company today about posting the presentation on the website. Based on past performance not expecting a response.

LSE03 ref 08.20 interesting read thanks. If this is the facility that Ben Wallace mentioned when he was last before the Defence Select Committee BAe was originally asking the MoD to pay for all of it. As I understand it the MoD is making a contribution to the cost. If the MoD really want competition in defence shipbuilding it needs to ensure that BAe and BAB do not get an unfair competitive advantage due to payments from the MoD. This I understand from a comment made by JW why HARL lost on the QEC tender. HARL had additional costs to get Belfast upto standard.

It would e nice to know what they intend to do with the Athelstone once they have taken the parts to use on the M55.

RichardMcV ref 08.23 post interesting reading. If Cammell Laird loses out to HARL on the National Flagship contract which is possible then losses may continue. They do not have a good track record of completing contracts on time and in budget which might work against them in relation to the National Flagship.

Chrisatrdg ref 15.30 post I am not as positive in the short term as you so I am going to maintain my Hold recommendation. The Belfast Harbour website is showing the Seatruck Precision coming into SRQ on 30 July. This would be the first new vessel in at Belfast as far as I can see since the Alfred arrived on the 18 July. I cannot see how in the short term HARL can keep the cost base down at Belfast if we are back to having these gaps in ships coming in. I know we have the Cory Barges contract in at Belfast but traditionally ship repair is what has kept afloat.

LSE03 ref 23.32 post the unions need to be careful that they do not cause a successful challenge to the end result on the basis that the decision was affected by lobbying.

Nobby31 ref 14.55 post Thanks for this and taking the time to take soundings. Going on past performance there is a case for thinking that a placing is coming. I know JW was asked directly about this but his not rule anything out or anything in comment would not have inspired confidence. I therefore suspect that the downward pressure is likely to continue until we start seeing large fabrication contracts to give us a trajectory to profits.

The current booked contractual revenues for 2023 is not high enough in my view to give confidence of breakeven in 2023. The 2022 FY accounts need to show a narrowing of losses for confidence in the company to start to emerge.

Si_Derman ref 07.41 post I have gone back to the August 2020 RNS detailing the transaction and in the RNS it says:

Acquisition Assets:



'The Acquisition will include, amongst other things, the following key assets:



· 29 acres of freehold land situated on waterfront

· 322,975 square feet of undercover fabrication halls

· 118 metre length of undercover dry-dock

· 500 metre quayside at the Newquay yard for ship repairs '

It was the fact that the freehold land was listed separately that made me think it was something separate from the other shipbuilding assets. It also explains why JW got shirty when the developer started to build houses nearby. JW was clearly concerned that the owners of the houses would not like to be near a shipyard. If I recall at the time we could not understand JW's concerns. It makes sense now.

Si_Derman ref 07.12 post No offence taken I was going by my recollection which was that at the time they bought Appledore they also acquired 29 acres of Freehold land. I was using football pitches as a visual representations. Hope to attend the October event at Appledore to see what the site looks like.

My view on the main takeaways from the presentations.

1 Share Price - While right about what was said about share manipulations I did not hear anything that would support what Radders99 said HARL's legal team and Cenkos looking into this. While it is possible that they are there was nothing from yesterday's presentation that would support this.

2 FSS - The bid for this if not already in should be going in within the next week. JW seems confident that HARL will have some role in this contract. I was slightly concerned by the apparent request from the MoD to share plans. While this may be for benign reasons it does seem on the face of it a bit odd.

3 IslandMagee - Looks like the FID will not be done until Q1 2023 as a lot of the people who HARL are in discussion with over financing want the JR resolved first. From the presentation it looks like a significant portion of the funding may becoming in some form from the UK Government. I note especially in view of what Consuela said previously that HARL are in discussions with the National Infrastructure Bank. I note that the National Infrastructure bank is not yet on a statutory footing so the delay caused by the JR may not turn out to be of that much of an issue.

4. Appledore The low key answer to my question on the freehold land that HARL acquired when it bought Appledore was interesting. To help with M55 which is being refurbished at Appledore and the work on the ex HMS Athelstone the freehold land is going to be used for shipbuilding. This would amount to a major upgrading of Appledore. If my memory is correct this would be adding a space equivalent to about 14 football pitches to the shipbuilding capacity at Appledore. This would seem to bring Appledore close to being on a par with Belfast facilities wise. This begs the question what else will be built at Appledore.

5 Pipeline - I could not see the figures so will have to wait for the presentation to be published but the pipeline to December 2023 seems significant but it still needs executing. There is £40m banked for next year in relation to contracted revenue but there would seem to be more to be finalised so breakeven next year is a possibility.

Just received my reminder for tonight with the link to join the meeting so tonight is on.