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What is the dividend payout rate?
ethanetoh ( Date: 14-May-2013 22:19) Posted:
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Result not too bad, investors may start to load up in anticipation of dividend payout in aug |
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Result not too bad, investors may start to load up in anticipation of dividend payout in aug
Vard Q1 net profit tumbles 30%
Norwegian shipbuilder Vard Holdings Limited's first-quarter net profit fell 30.1 per cent year on year to NOK188 million (S$40.1 million).
The company, previously called STX OSV Holdings, said on Tuesday that its revenue for the three months ended March 31, 2013 fell 2.3 per cent from a year ago to NOK2.75 billion.
Earnings per share fell to NOK0.16 from NOK0.23.
However, net asset value per share rose to NOK2.86 as at end-March from end-December 2012's NOK 2.68.
Vard's 2013 short term pain...and Future 2014 onwards looks bright...
Analysts will lower 2013 expectation of margins (avg still abt 12%?).
I doubt if the 11% margin can be maintained this whole year... with the Brazil problem still hanging till end of the year.
But they will now probably upgrade 2014 numbers as the management appears very bullish with their prospects from next year on.
So...For those investing for long term, 1.06 looks cheap. I am riding on it....
Good Luck....
SFGuyRuleZ ( Date: 14-May-2013 20:52) Posted:
| PS: Please note that when i say $1.45, i am basing it on the current results and not taking into account future growth or earnings. HUAT AR!!
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PS: Please note that when i say $1.45, i am basing it on the current results and not taking into account future growth or earnings. HUAT AR!!
Those vested would have known that since the previous quarter, problems such as high staff turnover and delayed delivery of orders at the current Brazil shipyard are eating into the profit margin of Vard, which caused the plunge of 80% in profits for the last quarter ending 2012 (compared to last quarter ending 2011). From the 2013 1st quarter results which were just released, we can see that the current problems are still affecting it's profit gains as anticipated, albeit less cause for concern as the dip in profits when compared to 1st quarter 2012 is only 24% < 80%.
The fair value I calculated for Vard based on the latest results is $1.45, which i believe is already the worst
valuation and is at most temporary. With today's closing
price of 1.055, the safety of margin as compared to 1.45 is still there.Furthermore, with a still relatively strong EBITDA margin of 11.1% (304/2747 X 100%), strong orders and contract wins, coupled with the fact that the Brazil Shipyard problem is not unknown of, I will still remain vested. HUAT AR!!
Net asset value per ordinary share as at the end of period reported on (31.03.2013) S$0.61 up from (31.12.2012) S$0.59
...Last Done: $1.060...
NTA at S$0.61 is almost 1.8 times P/NTA seems expensive. NTA is even lower than yjz.
TinyPotato ( Date: 14-May-2013 18:19) Posted:
I think it will. I'm expecting something worse off. *Fingers & toes cross*
New123 ( Date: 14-May-2013 18:15) Posted:
| so tmr is it going to go up |
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Lets hope so, my French fries !
TinyPotato ( Date: 14-May-2013 18:19) Posted:
I think it will. I'm expecting something worse off. *Fingers & toes cross*
New123 ( Date: 14-May-2013 18:15) Posted:
| so tmr is it going to go up |
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I think it will. I'm expecting something worse off. *Fingers & toes cross*
New123 ( Date: 14-May-2013 18:15) Posted:
so tmr is it going to go up?
WanSiTong ( Date: 14-May-2013 17:45) Posted:
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so tmr is it going to go up?
WanSiTong ( Date: 14-May-2013 17:45) Posted:
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VARD STARTS OFF THE YEAR WITH STRONG ORDER INTAKE
AND INVESTS IN FUTURE GROWTH
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quarter
Contracts with key clients for three large and complex projects secured during first
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quarter
Order intake for 1Q 2013 at NOK 2.8 billion, more than double from the preceding
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EBITDA margin of 11.1% despite challenging operating environment
� �
Major investments in Romania and Vietnam
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virtually all functions vital for commencing operations by end June in place
New shipyard project in Brazil, Vard Promar, is more than 85% complete, with
� �
new order intake
Optimistic outlook for subsea support and construction vessel market, and for overall
Singapore, 14 May 2013 – Vard Holdings Limited (“VARD”)WanSiTong ( Date: 14-May-2013 18:00) Posted:
Press release
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_91818C0EA8C5F6C248257B6B0033EF2A/$file/Vard_Holdings_1Q_2013_Results_Press_Release_14May13_final.pdf?openelement
WanSiTong ( Date: 14-May-2013 17:45) Posted:
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Press release
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_91818C0EA8C5F6C248257B6B0033EF2A/$file/Vard_Holdings_1Q_2013_Results_Press_Release_14May13_final.pdf?openelement
WanSiTong ( Date: 14-May-2013 17:45) Posted:
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normally dividend only declare in mid-year or year end.
NoRiskNoGain ( Date: 14-May-2013 17:46) Posted:
No dividend declared 
yokoosi ( Date: 14-May-2013 17:03) Posted:
should have dividend? Huat ! |
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No dividend declared
yokoosi ( Date: 14-May-2013 17:03) Posted:
should have dividend? Huat ! |
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Got people selling down at $1.055 also got people queuing to buy at $1.055
Anyone dialing in for the teleconference ?
Blastoff ( Date: 14-May-2013 16:56) Posted:
| Lots of selling & buying at $1.055.... what will the Q1 results be? |
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After so many months since last year 4th Qtr, what can be worst?? If results sucks big time, tomorrow will be a very dark day for those whom have keep faith in Vard. Close position & move on to other counters. If results meet expectation, just hold and let it drift higher like Ezion )
should have dividend? Huat !
