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agree, it is going up very soon.
no worry guys, this one will go higher (: remember : also chiong during jan - feb period !!
laggard at its bullcrap best again
It may go down to $1.75 level. Technically doesn't looks gd.I think can wait to buy at a cheaper price..
WoW !! You really can see....
New123 ( Date: 13-Jan-2011 14:46) Posted:
Profit within expectation + new awarded contracts also cannot move the shares price higher.
I think is going to drop below $1.80 soon.
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Profit within expectation + new awarded contracts also cannot move the shares price higher.
I think is going to drop below $1.80 soon.
Ezra Holdings
1QFY11 above expectations
Ezra's 1QFY11 earnings came in 33% above consensus estimates. We believe
the company will see significant growth starting 3QFY11 with contributions from
the four PSVs and DP3 vessel. Maintain Buy, target S$2.20.
1QFY11 earnings were above consensus and in line with our numbers
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by about 30%, driven by the 25% yoy growth in revenue as its existing fleet continues to
operate at near-capacity, and sustained high profit margins.
Ezra’s 1QFY11 (Sep-Nov 2010) operating profit rose 40% yoy, beating Bloomberg consensus
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to the US$7m decrease in JV and equity method gains, as well as the US$3.5m increase in
interest expenses from increased debt.
Net profit came in 33% above consensus, reporting a 28% decline yoy. This was mainly due
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Ezra will be able to meet our full year forecast as earnings will start to improve significantly in
2HFY11 (see next paragraph).
Although the net profit run rate versus our full year forecast is only 14%, we are positive that
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believe this may be short-lived and is less of a concern than during the difficult financial
markets of 2009.
Ezra’s receivables days increased to 260 days in 1QFY11 vs 243 days in 1QFY10, but we
Ezra should see significant earnings growth starting 3QFY11 (Mar-May 2011)
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The CFO says 3QFY11 should see significant growth in earnings for two reasons:
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While two PSVs have been acquired, two are still under construction at a yard in Poland.
These have secured three-five year contracts at day rates of over US$20,000 and are being
bank financed (US$120m in total). Gross profit margins on these PSVs are very high at 60%
versus a blended 35% for Ezra’s offshore support division. Ezra expects the vessels to
contribute US$10m to net profits (13% yoy 2011F earnings contribution).
1) The 4 platform service vessels (PSV) that Ezra purchased this year will be fully deployed.
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Engineering’s subsidiary) Singapore yard and will be deployed in FY2Q11 (Dec-Feb 2011) on
two consecutive one-two month subsea installation projects in Asia. Implied day rate is over
US$150,000, as expected, and much higher than Ezra’s blended average day rate of around
2) The long-awaited DP3 heavylift construction vessel being finished off at ST Marine’s (ST
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Published January 13, 2011 
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Ezra posts 28% drop in Q1 net to US$13m
Increase in financial expenses was main cause for decline
By JOYCE HOOI
EZRA Holdings posted a 28 per cent decline in first quarter net profit for the period ended Nov 30, 2010, from US$18.5 million to US$13.3 million.
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As deepwater development and production activities expand, we believe demand for our medium to large offshore support vessels will remain high.
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- Lionel Lee,
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Ezra's managing director
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Revenue for the same period, however, rose 25 per cent from US$60.9 million to US$75.9 million.
The rise in revenue was driven by the group's marine services division and deepwater subsea services, which saw increases of US$2.4 million and US$15.1 million, respectively. Revenue from the offshore support services segment, however, declined by US$2.5 million.
The blow to the bottom line was dealt mostly by an increase in financial expenses, from US$1.9 million to US$5.5 million, driven by the group's expansion efforts of late.
'We are positive about prospects for the offshore oil and gas sector. As deepwater development and production activities expand, we believe demand for our medium to large offshore support vessels, which are able to operate in deep waters, will remain high,' said Lionel Lee, Ezra's managing director.
Earnings per share for the quarter stood at 1.79 US cents for the group, down from 2.43 US cents in the corresponding period from the year before.
EOC Ltd, Ezra's Oslo-listed subsidiary, posted a plunge in Q1 net profit at US$566,000 compared to US$9.9 million the same period a year ago.
While revenue fell 14 per cent to US$23.5 million, cost of sales and interest expenses shot up.
Nonetheless, management remains positive on the unit's prospects.
'There are clearer signs of an increase in exploration and development activities in the offshore oil and gas sector in the Asia-Pacific . . . This bodes well for the current opportunities that we are vying for in both the construction and FPSO segments,' said Lim Kwee Keong, EOC's chief executive officer.
Separately, Ezra announced yesterday that it had been awarded new charters worth up to US$73 million for three of its offshore support vessels.
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contract worth USD73million awarded...
Profit before Tax and Profit after Tax dropped 25% and 28% respectively.
RockyHero ( Date: 12-Jan-2011 20:31) Posted:
Ezra Holdings Limited reported a 25% year-on-year increase in revenue to US$75.9 million, for the first quarter ended 30 November 2010 (1Q FY11).
This strong growth in revenue was spurred by two of its divisions: deepwater subsea services and marine services. Turnover for deepwater subsea services surged by US$15.1 million, due to a full three-month contribution from a vessel which was delivered in the financial year ended 31 August 2010 and operated under the energy services unit, as well as an increase in well-servicing projects. Marine services saw revenue rise by US$2.4 million, from an increase in procurement and equipment supply as well as engineering activities in Vietnam. The offshore support services division kept steady with turnover dipping slightly by US$2.5 million.
The Group also saw gross profit increase by 33% to US$25.6 million, up from US$19.3 million in the previous corresponding quarter, driven largely by its deepwater subsea services arm.
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Ezra Holdings Limited, announced that it has won fresh charters worth up to US$73 million in total for three of its offshore support vessels, including two recently added multi-purpose platform supply vessels (PSVs).
The charter contracts and/or letters of award signed with EMAS Offshore Pte Ltd, the Group’s operating entity for offshore support services, will see an anchor handling, towing and supply (AHTS) vessel and the two PSVs deployed in Asia. In aggregate, the average period for the new charters will exceed three years (with extension options exercised), consistent with the Group’s strategy of securing long-term charters.
Ezra Holdings Limited reported a 25% year-on-year increase in revenue to US$75.9 million, for the first quarter ended 30 November 2010 (1Q FY11).
This strong growth in revenue was spurred by two of its divisions: deepwater subsea services and marine services. Turnover for deepwater subsea services surged by US$15.1 million, due to a full three-month contribution from a vessel which was delivered in the financial year ended 31 August 2010 and operated under the energy services unit, as well as an increase in well-servicing projects. Marine services saw revenue rise by US$2.4 million, from an increase in procurement and equipment supply as well as engineering activities in Vietnam. The offshore support services division kept steady with turnover dipping slightly by US$2.5 million.
The Group also saw gross profit increase by 33% to US$25.6 million, up from US$19.3 million in the previous corresponding quarter, driven largely by its deepwater subsea services arm.
Submitted with respect to: EZRA HOLDINGS LIMITED
Announcement Title: REQUEST FOR TRADING HALT Broadcast Date: 12-Jan-2011 Broadcast Time: 12:38:31 Stock Code: 5DN Reference No.: 00026 Announced by: EZRA HOLDINGS LIMITED Company Registration No.: 199901411N Submitted on behalf of: EZRA HOLDINGS LIMITED Submitted with respect to: EZRA HOLDINGS LIMITED Name of Announcer: David Tan Yew Beng Designation: Company Secretary Broadcast date: 12-Jan-2011 Broadcast time: 12:38:31
Price sensitivity : Yes Contact No.: 63498535 Submission date: 12/01/2011 Submission time: 12:38:07 PM
Date of Trading Halt: 12/01/2011 Time of Trading Halt: 1400 hours
Reasons for Trading Halt: Pending release of announcements on the unaudited results for the financialfirst quarter ended 30 November 2010 of EOC Limited and Ezra Holdings Limited
hope tomorrow no bad news leh
coming..coming will see more upside..
Isn't the 12th EOC's announcement ? Thought Ezra's was the 14th
analyst ( Date: 11-Jan-2011 12:55) Posted:
Correction: 1st quarter financial announcement date should be Wed 12 Jan 2011 and not Tue 11 Jan 2011. Sorry for the error.
analyst ( Date: 10-Jan-2011 21:15) Posted:
| Ezra announcing 1st quarter financial results on Tue 11 Jan 2011. Hope it's progressing well to hit above S$ 2 soon. |
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Correction: 1st quarter financial announcement date should be Wed 12 Jan 2011 and not Tue 11 Jan 2011. Sorry for the error.
analyst ( Date: 10-Jan-2011 21:15) Posted:
| Ezra announcing 1st quarter financial results on Tue 11 Jan 2011. Hope it's progressing well to hit above S$ 2 soon. |
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$1.81 broken !!
y keep dropping b4 announcement
