Polarcus

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bertje
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Re: Polarcus

Bericht door bertje » 29 jul 2019 14:55

Sterk signaal van bestuur

Polarcus Limited ("Polarcus" or the "Company") (OSE: PLCS) announces that certain Primary Insiders of Polarcus have acquired shares in the Company on 29 July, 2019 at an average price of NOK 1.2083 per share as follows:

Duncan Eley, Chief Executive Officer of Polarcus: 375,000 shares. Following the transaction, he owns 1,014,616 shares in Polarcus.

Hans-Peter Burlid, Chief Financial Officer of Polarcus: 270,000 shares. Following the transaction, he owns 502,596 shares in Polarcus.



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thomas
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Re: Polarcus

Bericht door thomas » 29 jul 2019 16:28

Ik wou net hetzelfde plaatsen :-)
Dus volgende kwarta(a)l(en) zal/zullen zeker ook ok zijn.

EBITDA op jaarbasis zou ruim boven 50M$ (neem 60M$) moeten uitkomen voor 2019.
Hierdoor is schuld/EBITDA toch aan het zakken naar redelijke proporties (van meer dan 10 naar ratio rond 5 voor 2019), en kan men starten aan schuldafbouw / herfinanciering.

Als we dan kijken naar EBITDA / aandeel zien we mits wat afronding 1 NOK / aandeel EBITDA voor een koers van ... 1.2 NOK.
Dan is "vermenigvuldigen" van de koers op middenlange termijn best mogelijk..
5-10 NOK lijkt me binnen 2-3 jaar niet onmogelijk..

Dus, ik blijf rustig zitten...

bertje
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Re: Polarcus

Bericht door bertje » 30 jul 2019 10:10

Na 3 kwartier ook al zeer groot volume
POLARCUS LTD
1,34 30/07/2019 2.152.733 +8,77%

Thomas jij hebt geluk met je aankopen, ik moet nog x3 voor ik winst maak.
Mijn eerste aankopen waren jaren geleden aan 211 en 195 NOK, tot mijn goedkoopste aan 1.03 en 1.10 NOK.

Ben er vooral gerust in omdat de eerste grote terugbetaling maar voor binnen 3 jaar is.
+ het feit dat ze ook van 5 grote spelers naar 3 gezakt zijn, hoe minder concurrentie hoe meer werk en betere prijzen.
Tot eind september zit al alles vol en van oktober tot december ook al 60%, dus in de volgende maanden nog wat contracten en we gaan voor een volledige bezitting.

bertje
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Re: Polarcus

Bericht door bertje » 05 nov 2019 09:19

Jawade dade

HEADLINES Q3 2019

Segment revenues of USD 103.4 million, up from USD 55.2 million in Q3 2018
Segment EBITDA of USD 29.6 million, up from USD 7.3 million in Q3 2018
Improved cashflow from operations before changes in working capital of USD 29.7 million, up from USD 9.6 million in Q3 2018
Total cash balance of USD 35.4 million, up from USD 23.8 million at the end of the previous quarter
Successful completion of the industry’s largest 4D project in 2019 and strong production on the multi-vessel wide azimuth project
Solid operational performance with very high technical uptime
Backlog of USD 145 million, compared to USD 170 million at the same time last year

As anticipated Polarcus recorded a very strong third quarter, with segment revenues of USD 103.4 million. The 87% increase compared to same period last year highlights the Company’s ability to generate premium rates where the value of several differentiating features of the Polarcus fleet and operational capabilities are recognized by clients. Higher than modelled levels of productivity driven by operational excellence of Polarcus field crews enabled revenues from a number of complex projects to be optimized. This resulted in acceleration of some revenue into Q3 2019.

Segment EBITDA in the quarter increased to USD 29.6 million compared to USD 7.3 million in Q3 2018 driven by strong revenue. The significant growth in revenue, driven by a 155% improvement of realised contract day rates, more than compensated for the absence of multi-client revenue and third-party vessel management fees. This reflects the Company’s strategy of focusing on the contract acquisition market. Fleet utilization was 74% compared to 79% in Q3 2018.

The significantly increased revenue had associated project specific costs resulting in a 40% increase in gross cost of sales to USD 63.0 million compared to USD 44.8 million in Q3 2018, driven by a large fleet of source and support vessels deployed on the wide-azimuth and 4D projects and other costs specific to these complex projects. In addition, the cost was inflated by USD 7.7 million in previously deferred mobilization and transit costs. General and administrative cost for the quarter was USD 3.1 million, maintained at the same level as Q3 2018.

Cash generated from operations before changes in working capital during the quarter increased to USD 29.7 million, compared to USD 9.6 million in Q3 2018. The net segment working capital movement in the quarter was negative USD 1.4 million, compared to negative USD 9.2 million in Q3 2018. Capex investment for the quarter was USD 8.6 million of which USD 4 million was invested in new streamers on attractive terms. This investment along with increased output of the Polarcus streamer repair facility has maintained the streamer pool at a healthy level with excess capacity, which provides flexibility and a more gradual investment profile beyond 2021.

The strong cash generation during the quarter led to total cash at the quarter end of USD 35.4 million compared to USD 23.8 million at the end of the previous quarter. The Company’s USD 40 million working capital facility remained undrawn.

OUTLOOK

Despite the recent oil price volatility, levels of tender activity from E&P companies continue to improve gradually. The reshaping of the seismic industry and ongoing consolidation of seismic vessel operators should lead to Polarcus having an expanded client base of more multi-client companies without vessels. In addition, seismic data acquisition capacity has been reduced in recent years which is expected to remain in place going into 2020.

The Company’s backlog at 30 September 2019 and value of awards announced after the quarter end is estimated at USD 145 million. While this represents a slight reduction in total backlog compared to Q3 2018, the proprietary contract backlog remained flat year on year at USD 105 million.

Three of the Company’s core vessels are fully booked to Q2 2020, while one vessel has available capacity in Q4 2019. This may lead to some idle time during Q4 2019 reflecting the focus on prioritizing projects with superior margins and appropriate contract terms. The level of backlog is expected to build through the fourth quarter, and the Company will continue to prioritise projects with suitable rates reflecting its operational capabilities.

Following an exceptional third quarter, earnings in Q4 2019 will be reduced sequentially but are expected to be stronger than in the same quarter last year.

With oil prices around current levels, margins in the seismic market are expected to continue improving driven by the steady increase in underlying demand combined with the supply-side discipline observed to date With a young and high-performing fleet, Polarcus is well positioned to continue benefiting from the improving market.

Duncan Eley (CEO) and Hans-Peter Burlid (CFO) will host a presentation at Felix Konferansesenter, Bryggetorget 3, Oslo on 5 November 2019 at 10:00 CET (13:00 UAE). The presentation will also be available by webcast and conference call.

bertje
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Re: Polarcus

Bericht door bertje » 05 nov 2019 09:36

Opening +12%, dacht vanaf nu recht omhoog, maar markt denkt er anders over.
Waarschijnlijk het feit dat 1 van de boten niet volledig benut zal worden in 4Q en de omzet hierdoor lager zal liggen heeft voor de onzekerheid gezorgd.

https://ml-eu.globenewswire.com/Resourc ... 54e2beb38e

https://ml-eu.globenewswire.com/Resourc ... 3c589377a2

thomas
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Re: Polarcus

Bericht door thomas » 05 nov 2019 09:36

Dit gaat mooi de goede kant op..

Stephan
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Re: Polarcus

Bericht door Stephan » 05 nov 2019 09:38

Toekomt lijkt mooi, stijgende trend laatste half jaar, hopelijk zijn we nu vertrokken naar hogere regionen !?

bertje
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Re: Polarcus

Bericht door bertje » 05 nov 2019 12:32

Zeer teleurstellende koersvorming.
Had nu niet verwacht dat we naar de 2 zouden schieten, maar dit??

Ze zouden eens 1 schip moeten kunnen verkopen en die schulden wat naar beneden krijgen.

bertje
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Re: Polarcus

Bericht door bertje » 05 nov 2019 17:12

Zeer zwak slot
Laatste (05/11/19 - 16:25)
1,288
Wijziging (0,024)
1,90%

Laag
1,286
Hoog
1,428
Open
1,426

Volume
4.379.064

Stephan
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Re: Polarcus

Bericht door Stephan » 07 nov 2019 12:29

Geraken niet door de 1,33 nok, blijkbaar een moeilijke horde, al een heel jaar aan een stuk !!!
Hopen op een doorbraak na de mooi cijfers !!?

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