SembMarine Will Revisit 11.3 cts Low After Releasing FY2020 Results on 23Feb2021
#51
24-2-2021 7:51 AM
5354 said:
That price still got hope to make profits from speculative price movements

One moron here bought piles from $1.80 to $1.20, still holding

Poor bastard!

I told you many times to stop your lies but you have no integrity.

My Sembcopr Marine qas obtained free as i bought into Sembcorp Industries before demerger....a move you were rabidly against and flooded my thread. It turned out to be profitable.

https://sgtalk.org/mybb/Thread-Morning-t...p-industry

I added more after demerger which i also posted here the actual buy trades.

https://sgtalk.org/mybb/Thread-Sembcorp-...cts?page=1

You claimed stock will drop to 11.3cts after results. Results are out already.
I, being poor, have only my dreams;
I will do my utmost to keep them alive.
Against tyrants and adversity, I will strive.
Together, a better future, we will realise......
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#52
24-2-2021 8:32 AM
sgbuffett said:
I told you many times to stop your lies but you have no integrity.

My Sembcopr Marine qas obtained free as i bought into Sembcorp Industries before demerger....a move you were rabidly against and flooded my thread. It turned out to be profitable.

https://sgtalk.org/mybb/Thread-Morning-t...p-industry

I added more after demerger which i also posted here the actual buy trades.

https://sgtalk.org/mybb/Thread-Sembcorp-...cts?page=1

You claimed stock will drop to 11.3cts after results. Results are out already.

Yes, that was before the FY2020 financial statements were released.

I just said your end state SembMarine may drift to 5 cts in the near future

And I explained why with valid reasons and financials from the just released FY2020 financial statement
He, being poor, has only his lies
He will do his utmost to cover his lies
Against PAP and PM Lee, he will spread lies
Alone, a bleak future, he will realise......

[Image: vbcwidx.png]
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#53
23-2-2021 11:31 PM
5354 said:
General and administrative expenses $93,287,000 for FY2020

Depreciation and amortisation $192,340,000 for FY2020

Before this CONTRACTOR can become profitable after 4 consecutive years of losses which will continue into 2021 it must win NEW orders for its annual TURNOVER to be above $4 billion a year (assuming average gross margins of 10% for projects/orders)

Why? Because every year it has to pay $90M in NET interest costs, $93M in General & Admin expenses (including staff salary) and about $190M in Depreciation & Amortisation, total about $373M a year, so annual TURNOVER must be more than $4B (assuming 10% gross margin) before this loss making CONTRACTOR (SembMarine) can be profitable again

Get it you fcuking idiots?

[Image: K5YP6FO.png?1]

Ladies and gentlemen

You think I anyhow hantam when I said CONTRATOR SembMarine will need $4B turnover a year to be profitable?

See below, even SembMarine Finance Director, William Goh confirmed what I said above is TRUE

Giving a "very broad estimate", Mr Goh said SembMarine would require anywhere from S$2.5 billion to S$4 billion in orders - both existing and new - to turn profitable.

24-2-2021 10:50 AM
forum456 said:
https://www.businesstimes.com.sg/compani...wns-likely

Sembmarine to stay focused on clean, green solutions worst of writedowns likely over

SEMBCORP Marine (Sembmarine) on Tuesday reiterated its focus on " cleaner and greener solutions" after lower oil prices caused it to post an even larger net loss for the second half of its financial year ended Dec 31, 2020. Management also sees an improved outlook for FY2021.

In a call to discuss the company' s latest earnings, Sembmarine' s chief executive Wong Weng Sun and finance director William Goh said the group had already been shifting the focus of its efforts and resources to green opportunities since 2015.

Although Keppel Corporation' s exit from the business of building oil rigs might mean less competition for Sembmarine, Mr Goh said this is not an area where the group sees potential " in the immediate future" .

Revenue from building rigs recorded an 81 per cent year-on-year (y-o-y) fall to S$158 million, to make up a mere 10 per cent of total revenue in FY2020.

" The question for us is whether demand in the rigbuilding segment will recover, and this is typically driven by new designs," said Mr Goh, adding that these include greener solutions or smaller carbon footprints.
Sembmarine intends to work on shaping its product mix such that it can improve its profit margin.

The company reported a net loss of S$390.4 million for H2 FY2020, versus a loss of S$130.3 million a year ago. The weaker performance was partially due to asset impairments and provisions. Excluding these, the net loss for the period would have been S$246 million.

The group' s turnover fell 54.9 per cent to S$604.1 million, from S$1.34 billion a year ago.

For the full year, SMM' s net loss widened to S$582.5 million from a loss of S$137.2 million a year ago. Turnover was down 47.6 per cent to S$1.51 billion.

Mr Goh said Sembmarine is likely to continue booking losses in the first half of FY 2021, although the group is unable to accurately estimate the extent of losses at this point as this is generally " driven by a combination of smooth execution of existing projects and securing new orders that contribute to topline" .

But as far as writedowns of Sembmarine' s assets or yard facilities go, Mr Goh was hopeful that the worst is over.

He said the company does evaluations on a periodic basis and will make provisions as necessary, but added that Sembmarine builds its assets " with the future in mind" .

The group' s assets were built to meet changing requirements in the markets and can cater to the renewable sector too, he said.

Like other companies in the industry, Sembmarine was a victim of project deferrals in 2020 as the Covid-19 pandemic hampered business activity. Several projects were deferred in the first three quarters of 2020, but Mr Goh said order visibility had improved significantly from Q4.

Sembmarine began 2020 with a net order book in excess of S$2 billion with completion and deliveries stretching into 2022, but some projects were rescheduled by as much as 12 months.

As at end-2020, the group' s order book stood at S$1.82 billion. This comprised S$1.5 billion of projects under execution and S$310 million of ongoing repairs and upgrades projects with firm deliveries this year.

Giving a " very broad estimate" , Mr Goh said Sembmarine would require anywhere from S$2.5 billion to S$4 billion in orders - both existing and new - to turn profitable.

Sembmarine has not booked any new orders this year, but Mr Goh expects orders this year to be " better than last year" barring any external factors such as a worsening of the Covid-19 situation globally.

More work is expected for repairs and upgrades in particular, amid a shift to greener solutions. Mr Goh is expecting contributions from this segment to improve this year.

In FY2020, revenue from repairs and upgrades declined 30 per cent to S$425 million. This segment contributed 28 per cent of total revenue.
He, being poor, has only his lies
He will do his utmost to cover his lies
Against PAP and PM Lee, he will spread lies
Alone, a bleak future, he will realise......

[Image: vbcwidx.png]
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