Austal’s Post

Germany government acquires 80 per cent of the shares in MEYER WERFT investing EUR 400 million and providing guarantees of around EUR 1 billion. MEYER WERFT in Papenburg is receiving extensive support to secure its economic future. The federal government and the state of Lower Saxony are jointly acquiring around 80 per cent of the shares in MEYER WERFT and investing EUR 400 million. They are also planning to provide guarantees of around EUR 1 billion to finance existing firm orders in order to stabilise the company. The company has now reached all the necessary agreements with the state, federal government and banks. MEYER WERFT has been an integral part of the German shipbuilding industry for more than 225 years and is known worldwide for its high-quality cruise ships. It has found itself in this financial emergency due to the consequences of the coronavirus pandemic, the Russian war of aggression against Ukraine, and soaring commodity prices. In addition, 80 per cent of the construction price is usually only paid when the ship is delivered - the shipyard therefore has to finance the construction with loans. The promised guarantees are being used for this purpose. Despite the current financial challenges, the company has orders worth EUR 11 billion until 2031 and remains in demand internationally. This emphasises the importance of the shipyard for the regional and national economy, particularly in terms of jobs and technological innovation. Safeguarding jobs and continuing operations The successful refinancing will make it possible to secure jobs at MEYER WERFT and in its extensive supplier network. In addition to the more than 3,000 people directly employed by the shipyard, thousands of other jobs in the region are directly linked to the future of the shipyard through suppliers and service providers. According to independent experts, the existence of more than 20,000 jobs in Germany depends directly and indirectly on the continued existence of the shipyard. Joint guarantees for stabilisation In addition to the takeover of shares, the federal and state governments are also planning to provide guarantees totalling around one billion euros each. These are intended to help ensure the financial stability of the shipyard and guarantee ongoing operations and future projects. These guarantees are a decisive factor in putting the shipyard back on a stable course. Thanks to this solution, the financing banks can also participate in shaping the long-term future of MEYER WERFT. (FromShippax)

Luxembourg – August 1st 2024: DIS delivered very strong results in Q2 and H1 2024: Net Profit of US$ 66.5M in Q2 and US$ 122.9m in H1. Best quarterly spot rate in its history of US$ 44,949 in Q2. Solid financial structure, with net debt (excluding IFRS16) to fleet market value ratio of only 9.1% and cash and cash equivalents of US$ 181.9M as at 30 June ’24. Carlos di Mottola, CEO of d’Amico International Shipping S.A. ‘I am proud to report that DIS has achieved outstanding financial results for the first six months of 2024. We realized a net profit of US$122.9 million in H1 2024, compared with US$99.8 million in the same period last year. In Q2 2024, our net profit was of US$66.5 million, up from US$45.7 million in Q2 2023, an excellent result highlighting the strength of the product tanker market. Our daily spot rate in H1 2024 was of US$41,404, a 21% increase from US$34,216 in H1 2023. This rate climbed further to US$44,949 in Q2 2024, marking a 42% rise relative to the same quarter of the previous year and corresponding to the highest quarterly spot result in our history… In the first half of the year... We sold the MT Glenda Melanie, a 2010-built MR and the oldest vessel in our fleet, at an attractive price of US$27.4 million; we ordered four new LR1 vessels from a reputable Chinese shipyard, with expected delivery in the second half of 2027; we also exercised a purchase option on the M/T Crimson Jade, a 2017-built MR, for US$31.0 million, approximately 30% below the vessel’s current market value… Furthermore, we have leveraged the strong product tanker market to increase our fixed contract coverage, enhancing earnings visibility for the coming years. Thanks to our strategic decisions, our remarkable financial strength, and the dedication and professionalism of our team, we are in an excellent position to generate compelling returns for our shareholders for the next several years.’ Listen to the conference call of our CEO, Carlos di Mottola, and CFO, Federico Rosen, presenting DIS’ Q2 & H1 2024 financial results: https://lnkd.in/diD26SuC #DISIM #DMCOF #damicointernationalshipping #shipping #producttanker #secondquarter #firsthalf #results #market #strongresults

Austal has released its financial results for the financial year ended 30 June 2024 which show an improvement in Earnings Before Interest and Tax (EBIT) and a slight decline in revenue.  #Austal #FinancialResults #EBIT #RevenueAnalysis

🚢 Napier Port Reports Strong Earnings Recovery in Q3 2024 We're pleased to share that Napier Port (NZX.NPH) continues to deliver robust earnings growth, reflecting the resilience and recovery of our regional trade post-Cyclone Gabrielle. Nine Month Highlights: Revenue: Increased by 15.5% to $107.1 million, driven by strong growth in export log and cruise revenue. Operating Activities Result: Up 35.1% to $39.6 million, as higher revenue was supported by effective cost management. Underlying Net Profit After Tax: Rose 70% to $15.9 million. Reported Net Profit After Tax: Increased by 48.2% to $19.1 million. Earnings Guidance: Unchanged guidance for an underlying result from operating activities for the year to 30 September 2024 of between $50 million and $53 million, excluding insurance recoveries (of which $7.2 million has been recognised during the financial year to date) As cargo volumes return, our strategic emphasis on yield management, infrastructure investments, customer service, and cost control is yielding strong operating leverage and earnings growth. While the regional export-led recovery continues post-Cyclone Gabrielle, we recognise the ongoing challenges faced by many businesses in our region. In particular, we note the current challenges across NZ’s major manufacturing industries due to abnormally high energy costs. This has led to two of our largest cargo customers, WPI and Pan Pac, to undertake temporary shutdowns of either all or part of their timber and pulp processing facilities. During this period, we expect both companies will take the opportunity to undertake repairs and maintenance and that we will continue to receive and pack timber through our Port Pack operation, and to receive logs for export from Pan Pac. We extend our thanks to our customers, partners and community for their continued collaboration and support as we navigate these challenges and go forward together. For full financial and operating results, please visit our investor centre: https://lnkd.in/geeXcQN

If profitability the best measure of a company? I do not believe the answer is yes. I feel a better measure is something called Return on Capital Employed (ROCE). Why? There are several components that can show not only your status but the future of the company more reliable than a measure like earnings alone. Continuing in the conversation on the balance sheet, it is a large measure that uses your profit & loss statement with components from your balance sheet. One way you can calculate ROCE is Earnings Before Interest and Taxes divided by Total Assets minus Current Liabilities. Huh? Think of it as the % return on the money you have invested in your company after you’ve paid your bills. Do you agree? Are there better measures to use? #theaccountinghero #ROCE

Prime Minister demands proposal to resolve difficulties for Vietnam Airlines in February The above request was stated in the conclusion announcement on February 14th by the Prime Minister after a working session with the State Capital Management Committee in Enterprises and 19 Corporations and the State-Owned Enterprise Corporation. During the pandemic period (2020-2022), the aviation industry, including the national flag carrier Vietnam Airlines, was severely affected by market impacts. According to the consolidated financial report for 2022 published at the end of last year, as of December 31, 2022, Vietnam Airlines’ short-term debts exceeded short-term assets by VND 39,470 billion, negative equity was VND 11,056 billion, and overdue payments amounted to VND 15,396 billion. In the 2022 fiscal year, the company incurred a post-tax loss of VND 11,223 billion. In 2023, the business situation of Vietnam Airlines improved, but the consolidated post-tax profit was still negative at about VND 5,500 billion. This loss has decreased by half compared to 2022, equivalent to over VND 5,700 billion. By the end of 2023, Vietnam Airlines’ equity was negative nearly VND 17,000 billion. The accumulated loss of the company reached more than VND 40,000 billion. According to forecasts, the international market will gradually recover, and the business operations of Vietnam Airlines are expected to yield more positive results in 2024-2025. Currently, the company has completed the restructuring plan for the 2022-2025 period and is reporting to shareholders and competent authorities for approval. Vietnam Airlines stated that it will restructure its assets and financial investment portfolio to increase income, cash flow, and prepare the necessary conditions for issuing shares to increase equity capital after approval. The Ministry of Finance is amending the Decree on Investment and State Capital Management in Enterprises, proposing solutions for Vietnam Airlines to divest from Pacific Airlines. This is also one of the contents included in the comprehensive plan to overcome difficulties for the company. A Boeing Dreamliner B787-10 aircraft of Vietnam Airlines. Photo: Brandon Chen/Planespotters In the conclusion announcement, the Prime Minister assessed that 2024 still poses many difficulties and challenges. Therefore, he demanded that the 19 economic groups and state-owned corporations, which hold a significant amount of the country’s resources, must invest in development, expansion, and efficient production and business. Furthermore, the financial targets, especially the contribution of the state budget to economic growth in 2024, must be higher than in 2023. To achieve these goals, along with Vietnam Airlines, the Prime Minister requested the State Capital Management Committee to submit plans to the Government Standing Committee for finalizing the Viet Trung Steel Project and the Phase 2 expansion of Thai Nguyen Iron and Steel Plant in March. In the ...

Whether tackling today's expenses or planning for tomorrow's dreams, a CERTIFIED FINANCIAL PLANNER® professional is your trusted guide. Take control of your financial future with expert advice and strategic planning. Visit india.fpsb.org #cfp #financialplanning #trending #tejasspirit #FPSBIndia

𝐆𝐚𝐢𝐧 𝐕𝐚𝐥𝐮𝐚𝐛𝐥𝐞 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐨𝐧 𝐀𝐬𝐬𝐞𝐭 𝐀𝐬𝐬𝐞𝐬𝐬𝐦𝐞𝐧𝐭! 𝐃𝐞𝐥𝐯𝐞 𝐢𝐧𝐭𝐨 𝐨𝐮𝐫 𝐜𝐨𝐦𝐩𝐫𝐞𝐡𝐞𝐧𝐬𝐢𝐯𝐞 𝐠𝐮𝐢𝐝𝐞 𝐨𝐧 𝐩𝐞𝐫𝐟𝐨𝐫𝐦𝐢𝐧𝐠 𝐚 𝐭𝐡𝐨𝐫𝐨𝐮𝐠𝐡 𝐚𝐬𝐬𝐞𝐭 𝐚𝐬𝐬𝐞𝐬𝐬𝐦𝐞𝐧𝐭 𝐰𝐢𝐭𝐡𝐢𝐧 𝐚 𝐟𝐮𝐧𝐜𝐭𝐢𝐨𝐧𝐚𝐥 𝐚𝐧𝐚𝐥𝐲𝐬𝐢𝐬 𝐟𝐫𝐚𝐦𝐞𝐰𝐨𝐫𝐤. In assessing assets, you should determine if these are present or owned by each party in the transaction and, if yes, to what extent. You should look at actual assets. One of the checks is by looking at the financials of a company as “assets” often stated on the balance sheet of a company. Other assets are more intangible in nature (e.g., intellectual property owned or licensed, human capital, etc.) and often not reflected on the balance sheet. The value add of these assets will depend on the actual having of the asset (can be ownership, leasing, or rent) as well as the importance of the asset for the organization as well as the magnitude of the capital expenditure, depreciation, related (revaluation) costs, leasing, rental, license, or other payments. To learn more on how to perform an assets assessment within a functional analysis, continue reading here -> https://hubs.ly/Q02trzZn0 #TaxModel #tpd #transferpricing #internationaltax #corporatetaxes #taxation #taxadvisory #oecd #taxreporting

Bernstein’s latest blog analyzes the advantages of contractual #aviation leases, which offer strong cash flow and income potential. Get the details here:

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