Not too sure about 'cash burn'.
Looking at annual balance sheets, yes, cash has been decreasing since 2020AR but matched by ongoing increases in inventory. Recent updates spoke of materials prepayments- locking in supply and prices.
Increases in long term debt since 2020AR have been more trhan matched by PPE.
More recently cash has been expended on land, a floating dock and material prepayments.
They have considerable retained earnings but, yes, they had a loss for the 23FY.
It will be a cash burn if they continue to have losses but we don't know that yet. We do know that multivessel contracts become more profitable with subsequent craft.
There is a question mark over the market. Happy to hold here.
IMHO DYORn
Not too sure about 'cash burn'.Looking at annual balance sheets,...
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