Member Info for zccax77

This provides some of the hurdles Saga would need to cross in order to buy new boats.

- ROI of at least 11-12%

- 20% equity

https://www.tuigroup.com/en/investors/financial-news/availability-of-building-slots-for-two-new-vessels

Not sure why they bothered to be honest for such a paltry amount.

2.5% 'adjusted' ebitda is a joke. Calamonte needs to go.

How can anyone say a 13% decline in revenue as being strong. Look at what next posted today and cry.

Just goes to show how difficult it is to get vessels that someone would pay $230mn for one which is 26 years old and then spend another $50mn refurbishing it. I bet for a bit more your can get a new one albeit in 2032.

I am not sure what is a worse deal, buying a 26 year old vessel for $230mn or leasing one. Bearing in mind they have a average useful life of 30 years.

Saga depreciate their vessels over 30 years and so does every single other cruise line. Beyond this it is not economic to maintain them.

Their net profit margin is tiny. Last year it was 1%. Their holiday business is more of a liability than a asset.

Https://cruiseindustrynews.com/cruise-news/2025/03/seven-seas-navigator-to-leave-regent-fleet-in-2026/

Carnival sold this 26 year old ship for $230m and it's also half the size of one of our ships. Our entire market cap is less than the value of this crusty old ship.

How are they going to unwind their positions when the free float is tiny? Top three investors hold circa 70%.

What did you expect for a CFA level 1?

Hard to believe they would let someone so junior to make such calls.

Let them take it. The LSE is a vipers nest of shorters.

Compared to Boohoo where their own youth brands are in decline.

That RNS put the cat amongst the pigeons.

300

Mike is a pauper compared to Polvsen, why would he want to work with him?

60% of ASOS sales are premium third party products which shein will never take away.

60% of their sales are premium brands.

Where does the £130m pa of capex go. It's not like they have stores to refurbish.

Here is the thing, zalando themselves are barely profitable, with a lower gross margin than ASOS. A combination between them will allow to take advantage of scale and increase profitability across platforms. Asos's mid term goal of 8% EBITDA margin is nothing to write home about and they would be better off combining even for a all share consideration.

I really don't understand why they just don't sell the entire business to either zalando or shein. The economy is in a bad place and unlikely to get better with labour at the helm.