Quiet day and nearly exercise time.I was in manufacturing for...

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benson1610

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07/04/24

11:44

Post #: 73225771
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Originally posted by benson1610: ↑

Have you compared historic financials say back to 2020 compared to FY23,HY24.?
Inventory levels?Delayed export contracts.
Revenue including 23 CJV paying tax paid div of 5 cents FY23 compared to 2020 even bis total eps going back 5 years?.?
Using debt to pay special div reasonable to reduce FC's on books with a result of $12 m debt then look at delayed export contracts/inventory levels combined with bis old debt comfort debt level of below $10 b taking into account the businss has grow since that policy.of 70% payout ratio when debt below $10m
Paying that special div my understanding would effect yr CF in that year?..
Historic financials imo give more clarity than one year especially with stupid FCF/CF rules.

More important imo is guidance ,I expect 2H 24 to be excellent.
We still have that potential massive snowy 2 contract tender my understanding still open due to mandate and bis has done the testing? .
All govts even the greens understand the importance of the wollongong steel sector as in bsl,bis,the university of wollongong etc.example bsl approved to refurbish its last coal furnace at a cost of approx $1.1b really in Australia and no objections?. etc etc
But again imo the market under estimates the potential of the sub hull business with some clear potential left field events ( CJV style UKJV producing armor/pressure plate) or to scare Sabbath some interest from bsl. .
Bisalloy as posted said the will commence deliveries FY25 for sub hull steel?
OK most would guess for the AUKUS Australian sub build.
Imo the Australian mother country better not buy our hull steel just for the UK AUKUS sub they better by some steel for their astute class which they still have 2 or 3 to build before their commence the AUKUS UK sub build.
Then as posted the virginia class potential.
The sub business has massive yearly on going potential for bis over decades if bis is included in AUKUS supply chain which is being suggested/talked about bisalloy as posted has an excellent reputation globally unlike tacoma with the added benefit of restrictions on who can become a member of the AUKUS supply chain.
There Sabbath kept it short.?.

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Quiet day and nearly exercise time.
I was in manufacturing for approx 20 years a couple of decades ago.
Maybe about 10 years into that period I got a call from a new NAB DH manager requesting a CF projection.First and only time ever.
I was not going to pay my accountant to do a CF 'projection' for this DH so the secretary had to go learn how to do above.
Any non DH only had to look at my customer list ,payment records etc to understand sales ,receipts,stock turnover etc etc were never an issue.
So again imo only when looking at CF 'historic' must be taken into account plus held,repeat and 'potential' contracts to understand the co's CF.

Not that I hold a grudge as this was maybe 30 years ago ,i'll just mention I never wear suites to work,jeans fine.
I can't remember if it was the same DH manager but it was the same NAB branch that had a meeting with a well dressed guy ,brief case and all the required impressive CF projections etc etc etc.
The NAB branch was so impressed with his submission,clothes ,CF's etc he got his $12 m walked out and eventually disappeared which led to NAB recording an extra $12 m bad debt.
I believe there is some relevance in above relating to a quality co like bis especially historic,current/repeat business and new potential contracts and CF.

BIS Price at posting: $2.84 Sentiment: None Disclosure: Held
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