Member Info for stokey12

Xenor ref 09.55 post While some information is coming out from social media the lack of news via an RNS does raise concern and the failure to provide information when it has previously been stated that it will be given does not help. So while I am generally positive there are a few things that give rise to frustration and I will raise them.

On the question of exhibitions if you look at which exhibitions that HARL attends and where given the contracts awarded it is not clear that any of the exhibitions have led to any appreciable new work. To answer your question it may actually be possible if work has come from an exhibition. For example if HARL was to start building a number of fishing vessels then you can assume that it came from one of the fishing vessel exhibition.

LSE03 ref 09.29 post It is not just the stand space it is the stand as well and it has to be staffed. Also can you name any exhibition that HARL has attended that has led to any orders.

Just seen this on twitter https://twitter.com/HarlandWolffplc/status/1758416054370324554 I am not seeing any work coming from any of these exhibitions. There must be cheaper ways to raise brand awareness. The text of the post is:

We’re just 1 week away from @SkipperEditor

Expo 2024 opening its doors.

Harland & Wolff is exhibiting on Stand 123 where our expert Commercial shipping team of David Burke, Andrew Hay and Stewart Crabb will be on hand to discuss your new build, repair, refit and in-service support requirements.

Drop the team a line now or drop by our stand next Friday or Saturday.

See you in Limerick!🍀

The picture looks like a mock up of these green tugs that were mentioned last year.

Hebridean9 ref 01.56 post while the concerns you raise are valid the question is how much of a concern they should be. The answer to that depends on how long a person intends to hold onto their shares. The longer that a person is planning to hold onto their shares the less of a concern in my opinion the issues you raise are. The issues you mention are likely to be resolved in the short term so if you intend to hold for the medium to long term the share price may correct itself once confidence in HARL management improves.

Consuela your 08.07 post reminded me that I had not replied to your 18.47 post. The risk profile of IM changes depending on how risk adverse you are. I appreciate that in this respect you are risk adverse and would want to wait for every last enabler is in place before going ahead. However, it does not follow that everyone else is as risk adverse.

Another person might take the view that the return on the investment in IM may justify the risk ofinvesting at this stage before all the enablers are in place. They would take into account that the value of the project will go up once all the enablers are in place. It follows that they might want to secure a lower price for their investment with the attendant risk than wait for all the enablers to be in place.

PD101 ref 07.36 post if you really must ramp can you at least be accurate. Your post is written in the past tense is that what you meant to say.

Came across this on LinkedIn https://www.linkedin.com/feed/update/urn:li:activity:7163614595960553473/ the text of the post says

'Had a great time last week capturing the arrival of the SeaRose FPSO into Harland and Wolff docks for Cenovus Energy and Upstream Media both based in Canada as part of a new project they’ve commissioned with us to document refurbishments to the ship over the coming months. Exciting times for the shipping industry!'

Nice of the client to commission the advertising for us. Should be good exposure for HARL and hopefully will bring in more work from North America.

Saffman ref 18.02 post On your breakeven point not exactly JW has said previously that at £200m HARL would be in a position to start paying dividends. So I would presume that it would be below that. On the dividend point due to the relatively low number of shares in issue you do not need a large amount of money to pay dividends.

Scaffman ref 17.14 post as they did not say salt caverns I naturally assumed that they were not going to use them as they would have said store in salt caverns raher than underground reservoirs. Do you know what these reservoirs are made of or contain?

I think that JW will try and get the debt facility done in Q1 to avoid having to pay Riverfort another extension fee.

LSE03 ref 16.29 post interesting I note that they are not going the salt cavern route which is brave as they might have stiffer opposition than HARL has with IM.

Consuela ref 16.05 post you say that IM is not worth £100m. I would argue that it is worth whatever a person is willing to pay for it. It has an existing planning permission and notwithstanding the current legal proceedings a valid marine license. These both have a value in themself and increases the value of the land. Also due to the lengrh of the marine license the return on investment is such that any investment would be recouped during the life of the marine license.

Bubble2021 ref 12.59 post As I understand it this is something that has been discussed for a few years. The question is how long the pre tender process is. Unless you are the MoD a compliant procurement tender can take a year.

Hebridean9 ref 12.22 post I would partially agree with you. I agree that the 2022 accounts are the latest accounts that give us a picture of the financial position of HARL at that time. However taking everythng that occurred in 2023 into account I would argue that they do not paint an accurate picture of the financial health of HARL today.

Xenor ref 11.52 post we are discussing it only so as to explain why it is wrong. If something like this goes unchallnged, with facts as opposed to just attacks on the poster, they risk being taken as being true.

Bubble2021 ref 11.22 post The accounts are due on or before 30 June. What I will be looking for is how close to the 30 June they are published. While there is no actual evidence for this I always take the view that where there is bad news in the accounts they wil published as late as possible.

Bubble2021 ref 10.38 post This reminds me of a post I made recently which may have gone unnoticed as it was posted early in the day. The argument that HARL is technically insolvent which has been raised by Hebridan9 is based on the accounts for the year ending 31 December 2022. As you say HARL is not in the same position. My argument is that depending on how the FSS contract is treated in the accounts HARL may not be technically insolvent.

Just seen this via the forces net twittr feed https://www.forces.net/technology/sea-vessels/next-generation-british-frigates-could-be-crewed-few-50-sailors I am not a military but if you have to man a ship twenty four hours a day then at best that would mean a maximum of 25 sailors doing 12 hour shifts. Sommeone correctme if I am wrong and you need less than 25 people at a time to run a frigate.

I have just seen this in the UK Defence Journal https://ukdefencejournal.org.uk/troubled-ferry-finally-sets-sail-from-port-glasgow/ If you scroll down you will see talk about defence work. I know from things said in the past that JW was looking for sub contract work on these programmes. I also know that some work has been done in Appledore. However unlike Ferguson Marine we have radio silence from HARL. This gives the impressin that HARL is being overlooked for sub contract work. As there has been no RNS or anything said on social media that I can recall I presume that there has been no formal agreement between BAe or BAB and HARL in relation to sub contract work.

So far today almost every time I have gone on LinkedIn HARL appears to have another job posted. This latest one can be done remotely. I had to Google what the job is and it is IT related and is to streamline the supply chain as far as I can understand. Seems to imply that HARL will be increasing its supply chain.

https://jobs.smartrecruiters.com/HarlandWolff/743999967342374-ifs-functional-analyst