Morning everyone!!
Nice announcement earlier today (which will drive significant revenues going forward) - but it looks like the market had either already expected it / priced it in.
Or they are waiting for some "show me the money" reports from HTG (eg upcoming 4C quarterly).
On the upcoming 4C, is everyone expecting a drop in the cash receipts number due to VOS Shine effectively being out of action since late March 2020 due to maintenance / COVID - and with VOS Shine contributing a massive $10m of HTG's revenue last year?
The HTG annual report stated:
In September 2019, the VOS Shine (“Shine”was successfully delivered to Darwin, Australia from her home port in the Netherlands. Upon her arrival she commenced her inaugural project and remained fully utilised until the end of Q3 FY2020 and the advent of the COVID-19 pandemic restrictions.
The Shine’s participation in the offshore projects below during FY2020 contributed significantly to more than $10m in group revenue.
In broad terms, the last 2 x HTG 4C's have shown:
31 March 2020 30 June 2020
Receipts $5,902k $4,352k
less
Cash Outgoings $5,150k $4,224k
Nett Cash Incoming $752k $128k
I have a feeling that this 4C might surprise to the downside (but hope I am wrong)
Be great to get some other thoughts on this
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