Back

Latest Forum Topics / Ezra    Last:0.011 --

Post Reply

Ezra Post Reply Rate topic
dealer0168 Elite	16-Jul-2011 19:18        dealer0168 About Contact  Quote this Post! Style: Combined   Mood:
x 0   x 0  Alert Admin	Down so much due o market sentiment on friday also. Read into the news, Erza profit down is due to its integration of AMC (that can ripe good profit in upcoming mths/ years). The prospect of this company is good one. No worry.
Useful To Me  Not Useful To Me
cheekong22 Member	16-Jul-2011 13:36        cheekong22 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Hope it can rebound on Monday. if not it will be lowest in 2 years. In fact many potential in it isnt? why did it go down so much?
Useful To Me  Not Useful To Me
bryansng Senior	16-Jul-2011 12:13        bryansng About Contact  Quote this Post! Style: Flexible
x 0   x 0  Alert Admin	Falling knives.... Monday will shed more blood... krisluke      ( Date: 16-Jul-2011 08:01) Posted: Ezra: Announced 3Q11 results, which saw top line rev above consensus estimates, with rev at US$164.8m, +51% yoy and +66.8% qoq, however net profit was below consensus estimates at US$6.6m, -74.9% yoy and -41% qoq and gross margins declined to 16.9% from 30.5% yoy and 28.7% qoq Better then expected top-line performance due mainly to maiden rev contribution from newly acquired Aker Marine Contractors (AMC), the added rev from grp’s Offshore Support Div which saw addition of 5 PSVs and 4 AHTS to fleet, and increase in procurement and engineering work for the Marine Services Div. Poor bottom line largely attributed to costs from integration of AMC, higher overheads and fin. expenses in respect of Grp’s expansion program. Going forward, grp remains optimistically confident on prospects as AMC becomes fully integrated, which extend grp’s reach in the deepwater development and production sector. Grp aims to achieve orderbook and reach its US$1b in future. We note that result brings 9M11 Rev to US$339.6m, +39% yoy, while net profit at US$27.9m, -49% yoy. At current price, valuations appear steep, with grp trading at a simple annualized 26.3x FY11E P/E vs peers and historical average of 11x P/E, and 1.25x P/B, while orderbook at US$300m will underpin earnings visibility till 2012. Any future catalyst would rest largely upon the successful integration on AMC and its impact on grp’s overall bottomline. Deutsche maintains Hold with $1.65 TP, while RBS maintains Buy with $2.20 TP.
Useful To Me  Not Useful To Me
krisluke Supreme	16-Jul-2011 08:01        krisluke About Contact  Quote this Post!
x 0   x 0  Alert Admin	Ezra: Announced 3Q11 results, which saw top line rev above consensus estimates, with rev at US$164.8m, +51% yoy and +66.8% qoq, however net profit was below consensus estimates at US$6.6m, -74.9% yoy and -41% qoq and gross margins declined to 16.9% from 30.5% yoy and 28.7% qoq Better then expected top-line performance due mainly to maiden rev contribution from newly acquired Aker Marine Contractors (AMC), the added rev from grp’s Offshore Support Div which saw addition of 5 PSVs and 4 AHTS to fleet, and increase in procurement and engineering work for the Marine Services Div. Poor bottom line largely attributed to costs from integration of AMC, higher overheads and fin. expenses in respect of Grp’s expansion program. Going forward, grp remains optimistically confident on prospects as AMC becomes fully integrated, which extend grp’s reach in the deepwater development and production sector. Grp aims to achieve orderbook and reach its US$1b in future. We note that result brings 9M11 Rev to US$339.6m, +39% yoy, while net profit at US$27.9m, -49% yoy. At current price, valuations appear steep, with grp trading at a simple annualized 26.3x FY11E P/E vs peers and historical average of 11x P/E, and 1.25x P/B, while orderbook at US$300m will underpin earnings visibility till 2012. Any future catalyst would rest largely upon the successful integration on AMC and its impact on grp’s overall bottomline. Deutsche maintains Hold with $1.65 TP, while RBS maintains Buy with $2.20 TP.
Useful To Me  Not Useful To Me
bryansng Senior	16-Jul-2011 01:18        bryansng About Contact  Quote this Post! Style: Flexible
x 0   x 0  Alert Admin	i believe it still has not reached the bottom. give it a few more days
Useful To Me  Not Useful To Me
cheekong22 Member	15-Jul-2011 23:25        cheekong22 About Contact  Quote this Post!
x 0   x 1  Alert Admin	it is atits 52 week low. Guess another low next week.or will it rebound?
Useful To Me  Not Useful To Me
zhixuen Veteran	15-Jul-2011 17:30        zhixuen About Contact  Quote this Post!
x 0   x 0  Alert Admin	I don't have chart right now but I think it may test lower. Becareful the falling knife freeme      ( Date: 15-Jul-2011 16:02) Posted: time to buy ard this price range 1.32.. but wait a few day until stable 1st
Useful To Me  Not Useful To Me
bryansng Senior	15-Jul-2011 16:52        bryansng About Contact  Quote this Post! Style: Flexible
x 0   x 0  Alert Admin	Thats for a current price of $1.485.... Now gotta review the stand and opinion and watch for stability before vesting.   cheekong22      ( Date: 15-Jul-2011 14:55) Posted: Ezra Holdings Ltd SINGAPORE Company Update Results MITA No. 010/06/2009 OCBC Investment Research 15 July 2011 Maintain BUY Previous Rating: BUY Current Price: S$1.485 Fair Value: S$1.87 Ezra Holdings (Ezra) reported a 51% YoY increase in revenue to US$164.8m but saw a 75% fall in net profit to US$6.6m in 3QFY11, mainly due to a fall in gross profit margin (17% vs. 31% in 3QFY10), with the consolidation of newly acquired AMC. Administrative expenses also rose 42% to US$16.7m in 3QFY11 with the inclusion of AMC and higher overheads due to the set up of overseas offices. Net profit was lower than expected, but if we were to exclude AMC's net loss in the last quarter, Ezra's 3Q11 net profit would have accounted for about 21% of our full year estimate. Finally a little more clarity on AMC. We estimate that AMC suffered a loss of around US$7.5m to US$10m in 3QFY11, but management expects the entity to perform better in 4QFY11 (we are expecting just breakeven in 4Q). Much depends on the integration progress and the speed in which third party costs can be eliminated. In particular, management has " realigned a lot of services" that AMC used to outsource, and Ezra aims to bring more of such activities in-house to lower costs. Management also revealed that there was a lack of optimization in vessel utilization in AMC previously, and the group has since reorganized the fleet. EOC looking at potential listing. EOC, which is listed on the Oslo Bors, is eyeing a second public listing in Asia. We understand that it will be a second primary listing, and not a secondary listing. On the other hand, we do not expect Ezra to issue new shares to raise funds in the next 12 months. Management mentioned that any new significant capex plans will only be in 2013/2014, while capex guidance for 2012 should be around US$150m. Contract wins may be a catalyst for the stock . With slightly more clarity on the AMC front, we have lowered our earnings estimates for FY11 and FY12, and deem FY12 to be more reflective of the group's earnings after further integration. As such, we roll forward our valuation to 14x FY12F earnings (from blended FY11/12F previously) for the offshore marine and energy business, and our fair value estimate slips to S$1.87 (prev. S$2.05). A potential catalyst would be higher-thanexpected contract wins with healthy margins for the subsea business, which has amassed a decent order book of more than US$300m YTD. Maintain BUY.
Useful To Me  Not Useful To Me
freeme Elite	15-Jul-2011 16:02        freeme About Contact  Quote this Post!
x 0   x 0  Alert Admin	time to buy ard this price range 1.32.. but wait a few day until stable 1st
Useful To Me  Not Useful To Me
cheekong22 Member	15-Jul-2011 14:55        cheekong22 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Ezra Holdings Ltd SINGAPORE Company Update Results MITA No. 010/06/2009 OCBC Investment Research 15 July 2011 Maintain BUY Previous Rating: BUY Current Price: S$1.485 Fair Value: S$1.87 Ezra Holdings (Ezra) reported a 51% YoY increase in revenue to US$164.8m but saw a 75% fall in net profit to US$6.6m in 3QFY11, mainly due to a fall in gross profit margin (17% vs. 31% in 3QFY10), with the consolidation of newly acquired AMC. Administrative expenses also rose 42% to US$16.7m in 3QFY11 with the inclusion of AMC and higher overheads due to the set up of overseas offices. Net profit was lower than expected, but if we were to exclude AMC's net loss in the last quarter, Ezra's 3Q11 net profit would have accounted for about 21% of our full year estimate. Finally a little more clarity on AMC. We estimate that AMC suffered a loss of around US$7.5m to US$10m in 3QFY11, but management expects the entity to perform better in 4QFY11 (we are expecting just breakeven in 4Q). Much depends on the integration progress and the speed in which third party costs can be eliminated. In particular, management has " realigned a lot of services" that AMC used to outsource, and Ezra aims to bring more of such activities in-house to lower costs. Management also revealed that there was a lack of optimization in vessel utilization in AMC previously, and the group has since reorganized the fleet. EOC looking at potential listing. EOC, which is listed on the Oslo Bors, is eyeing a second public listing in Asia. We understand that it will be a second primary listing, and not a secondary listing. On the other hand, we do not expect Ezra to issue new shares to raise funds in the next 12 months. Management mentioned that any new significant capex plans will only be in 2013/2014, while capex guidance for 2012 should be around US$150m. Contract wins may be a catalyst for the stock . With slightly more clarity on the AMC front, we have lowered our earnings estimates for FY11 and FY12, and deem FY12 to be more reflective of the group's earnings after further integration. As such, we roll forward our valuation to 14x FY12F earnings (from blended FY11/12F previously) for the offshore marine and energy business, and our fair value estimate slips to S$1.87 (prev. S$2.05). A potential catalyst would be higher-thanexpected contract wins with healthy margins for the subsea business, which has amassed a decent order book of more than US$300m YTD. Maintain BUY.
Useful To Me  Not Useful To Me
zhixuen Veteran	15-Jul-2011 14:51        zhixuen About Contact  Quote this Post!
x 0   x 0  Alert Admin	I have posted to suggest to take profit on $1.58 earlier. cheekong22      ( Date: 15-Jul-2011 14:31) Posted: it is1.34 now. guess going to 1.25 soon.. i make a hug eloss...
Useful To Me  Not Useful To Me
cheekong22 Member	15-Jul-2011 14:31        cheekong22 About Contact  Quote this Post!
x 0   x 0  Alert Admin	it is1.34 now. guess going to 1.25 soon.. i make a hug eloss...
Useful To Me  Not Useful To Me
analyst Member	15-Jul-2011 14:10        analyst About Contact  Quote this Post!
x 0   x 0  Alert Admin	Looking at Ezra in a positive perspective. 1) Revenue for the same period increased 51 per cent to US$164.8 million from US$108.8 million in 3QFY10. 2) Clinched three new projects worth in aggregate US$85.0 million to carry out subsea services across Asia-Pacific. 3) Improved integration with AMC will results in substantial cost savings. 4) Expecting sizeable contract wins in the near term. 5)  A profit of US 6.6 million net proft in 3QFY11 is still a profit though small as compared to other quarters. Hope the management will work harder to report better profits in future.
Useful To Me  Not Useful To Me
pharoah88 Supreme	15-Jul-2011 11:39        pharoah88 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Ezra's 9M11 core net profit of US$27.7m (-50% yoy) formed only 37% and 41% of our FY11 forecast and consensus. The shortfall stems from 1) US$10m losses from AMC, 2) lower-than-expected gross margins in offshore support, 3) higher-than-expected interest expenses and 4) lower-than-expected earnings from EOCL.    We cut our earnings by 5-38% for FY11-13% factoring the weak quarter and reduced TP to S$1.80 (from S$2.44). Despite the earnings disappointment, we keep our OUTPERFORM recommendation as we believe the worst could be over for AMC on the back of improved integration, stronger projects execution and sizeable contract wins in the near-term. Catalysts should come from stronger order wins and earnings recovery.
Useful To Me  Not Useful To Me
dcang84 Veteran	15-Jul-2011 10:01        dcang84 About Contact  Quote this Post! Style: Combined   Mood:
x 0   x 0  Alert Admin	Capital raising exercise for the upteenth time round the corner? Investors beware!
Useful To Me  Not Useful To Me
Kensonic77 Veteran	15-Jul-2011 09:47        Kensonic77 About Contact  Quote this Post!
x 0   x 0  Alert Admin	I am getting ready to buy...   KEY HIGHLIGHTS Key Indices Results CapitaCommercial Trust (BUY/S$1.45/Target: S$1.70) 2Q11: In line with expectations Ezra Holdings (BUY/S$1.49/Target: S$2.00) 3QFY11: Higher-than-expected losses from AMC consolidation, but subsea service contract wins are rolling in. M1 (BUY/S$2.57/Target: S$2.88) 2Q11: Steady progress in fibre broadband.
Useful To Me  Not Useful To Me
bishan22 Elite	15-Jul-2011 09:41        bishan22 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Kenna bash by BB left right centre today.
Useful To Me  Not Useful To Me
chinton86 Veteran	15-Jul-2011 08:59        chinton86 About Contact  Quote this Post!
x 0   x 0  Alert Admin	later jialat liao
Useful To Me  Not Useful To Me
krisluke Supreme	15-Jul-2011 04:40        krisluke About Contact  Quote this Post!
x 0   x 0  Alert Admin	Ezra’s 3QFY2011 Net Profit Down 75 Per cent to US$6.6 million Ezra Holdings Limited Thursday recorded a US$6.6-million net profit for the third quarter ending May 31 (3QFY2011), down 75 per cent from US$26.3 million in the same period last year. The group attributed the decline to higher overheads from the integration with newly acquired Aker Marine Contractors group (AMC) as well as additional expenses in respect of the group’s expansion programme. Revenue for the same period increased 51 per cent to US$164.8 million from US$108.8 million in 3QFY10. “Our latest performance reflects our ongoing efforts to build up the group’s core growth engines. We are eagerly looking forward to the future as AMC moves towards becoming fully integrated. With AMC, we will be in a strong position to further extend our reach in the deepwater development and production sector, which is growing sharply, especially in the Asia-Pacific region,” said Lionel Lee, Ezra’s managing director. Separately, the group also announced that it has clinched three new projects worth in aggregate US$85.0 million to carry out subsea services across Asia-Pacific. One of the projects is expected to commence as early as August 2011. Ezra Holdings Limited closed on Thursday at S$1.485.
Useful To Me  Not Useful To Me
bryansng Senior	15-Jul-2011 00:42        bryansng About Contact  Quote this Post! Style: Flexible
x 0   x 0  Alert Admin	why not too good with the order books???? edwinteo      ( Date: 15-Jul-2011 00:17) Posted: not doing gd...
Useful To Me  Not Useful To Me

                                                         First   < Newer   901-920 of 1293   Older>   Last