OCBC Investment Research in a Jan 13 research report says: “Ezra reported a 25% y-o-y rise in revenue to US$75.9 million but saw a 28% fall in net profit to US$13.3 million in 1QFY11, as its results were impacted by lower contribution from EOC and JV companies as well as higher financial expenses arising from the group’s expansion programme.
Posts Tagged ‘Ezra’
Jan 13: Ezra, Swiber, Qian Hu, Yangzijiang
January 13th, 2011 |
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The following companies may have unusual price changes in Singapore trading. Stock symbols are in parentheses, and share prices are from the previous close. Singapore’s Straits Times Index gained 0.1% to 3,244.94.
Ezra Holdings (EZRA SP): The provider of logistics services to the oil and gas industry said first-quarter profit declined 28% to $13.3 million from a year ago. Ezra gained 0.6% to $1.81.
Singapore’s Ezra wins three charters worth $94.1m
January 12th, 2011 |
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Singapore oil services company Ezra Holdings (EZRA.SI) said on Wednesday it had won new charters worth up to US$73 million ($94.1 million) for three of its offshore support vessels.
The firm also reported a 28% fall in its first-quarter net profit to US$13.3 million from a year ago, mainly due to a lower share of profits from joint venture and associated companies, as well as higher financial expenses.
However, Ezra’s revenue for the three months ended Nov 30 last year grew 25 percent year-on-year to US$75.9 million, spurred by increased contributions from its deepwater subsea and marine services divisions.
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Ezra posts 25% rise in 1Q revenue to $98m
January 12th, 2011 |
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Ezra Holdings, the integrated support and marine services provider in the offshore oil and gas (O&G) sector, reported a 25% year-on-year increase in revenue to US$75.9 million ($98 million), for the first quarter ended 30 November 2010 (1Q FY11).
Ezra says the strong growth in revenue was spurred by two of its divisions: deepwater subsea services and marine services.
Ezra launches $10m training, simulator centre
January 11th, 2011 |
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Ezra Holdings, the provider of integrated offshore support and marine services to energy companies, has launched the EMAS Academy, a $10 million maritime training institute dedicated to advancing safety and operational standards in the industry and equipping crews with all the specialised skills they need to handle intricate offshore operations.
Ezra +2.4%; DMG tips positive contract newsflow
December 15th, 2010 |
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Ezra (5DN.SG) is +2.4% at $1.71, a three-week high, as it continues to recover from a nearly seven-month low of $1.63 touched earlier in December.
The offshore oil and gas support company has underperformed peers, down 8.2% since 2H10’s start, compared with the FTSE ST Oil & Gas Index’s +23.8%, partly on disappointment with its quarterly results and the company’s persistent delays in taking delivery of new vessels.
Ezra Holdings rated ‘buy’ by DMG
November 26th, 2010 |
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DMG & Partners Securities in a Nov 23 research report says: “Ezra will add four high-end multi-purpose platform supply vessels (PSVs) to its fleet in the light of the positive outlook for the sector worth ~US$130 million.
Ezra cut to Hold by Deutsche Bank, lowers target
November 23rd, 2010 |
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Deutsche Bank downgrades Ezra (5DN.SG) to Hold from Buy, cuts target price to $1.90 from $2.80 after lowering FY11-12 earnings estimates by 35%-24% to account for vessel delays, integration of Aker Marine Contractors, which it recently proposed to buy for US$250 million ($326 million).
Says delay in delivery of several vessels will affect profitability of offshore oil & gas support company.
Adds, while Aker Marine will enhance Ezra’s sub-sea capability, company “may have its hands full trying to turn AMC profitable”.
Says 2H11 may be better time to revisit stock to get better clarity.
Shares off 2.9% at $1.69.
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Ezra kept at Buy by CLSA; Long-term growth prospects
November 23rd, 2010 |
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CLSA confident in long term growth prospects of Ezra’s (5DN.SG) subsea acquisition. Upgrades earnings marginally in view of larger PSV fleet, but leaves subsea forecasts unchanged until more details released January.
Keeps at Buy with $2.35 target, offering 35% upside. Says, while only eight of ten assets held by EMAS-AMC are enabling assets (construction/installation/pipelay), “EMAS-AMC has sufficient scale (by assets) to be a credible alternative for customers seeking diversified service providers.”
House analysis suggests downside risk of 10% to current Ezra FY10 EBIT estimates (which based on very preliminary management guidance), up to minus 25% for FY12-FY13, depending on execution, size of contract wins.
But says downside risk minimised, estimates will not have to be revised down if EMAS-AMC able to speed up integration process, execute efficiently (achieve higher margins) or secure larger-than-expected number of contracts. Shares off 3.5% at $1.68.
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Ezra buys 4 PSVs for $168m; wins $66m in new charter contracts
November 22nd, 2010 |
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Ezra Holdings, the integrated support and marine services provider in the offshore oil & gas (O&G) sector, will add four high-end multi-purpose platform supply vessels (PSVs) to its fleet in the light of the positive outlook for the sector. The investment of approximately US$130 million ($168 million) underlines its commitment to strengthening the capabilities of its core businesses and driving its next growth phase.
Meanwhile, Ezra has also announced that EMAS Offshore, the group’s operating entity for offshore support services, has secured letters of intent and/or letters of award for US$51 million worth of new contracts which will charter five anchor, handling, towing and supply (AHTS) vessels and a PSV to oil majors, national as well as independent oil companies, for operations in Asia and Australia. In aggregate, the average period for the new charters will exceed two years.
Nov 22: Ezra, SGX, Keppel Land, Z-Obee
November 22nd, 2010 |
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Singapore shares may open higher on Monday after S&P 500 stock index futures rose after the EU and IMF agreed on Sunday to help bail out Ireland with loans to tackle its banking and budget crisis. Singapore’s benchmark Straits Times Index <.FTSTI> fell 0.56% on Friday to 3,197.37 points, say Thomson Reuters and Bloomberg.
Ezra Holdings (EZRA.SI), a Singapore offshore support and marine services provider, said on Monday it will buy four multi-purpose platform supply vessels for US$130 million ($168.4 million). It also said it has secured US$51 million worth of new charters of six vessels to various oil companies for operations in Asia and Australia. The average period for the new charters will exceed two years.
Ezra buys crane fabrication facility in Houston
November 16th, 2010 |
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Ezra Holdings, the integrated support and marine services provider in the offshore oil & gas (O&G) sector, says it has acquired a 650,000 square feet fabrication facility in Houston, Texas at “distressed prices”.
Ezra says the facility will allow Ezra to fabricate customised cranes for modern offshore O&G vessels and complements its recent US$250 million ($325 million) acquisition of Aker Marine Contractors for which has a strong presence in the Gulf of Mexico, the North Sea, Latin America and Africa.
The acquisition is made through Ezra’s newly-formed subsidiaries Ezram Properties LLC and Ezram Enterprise LLC.
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Ezra Holdings rated ‘outperform’ by CIMB
October 27th, 2010 |
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CIMB in an Oct 25 research report says: “FY2010 core net profit of US$69 million (-14% y-o-y) met our expectations and consensus. 4Q10 core net profit of US$17 million (-42% y-o-y), forms about 25% of our full-year estimate.
Bank of America-Merrill Lynch downgrades Ezra to Underperform vs Buy
October 25th, 2010 |
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Bank of America-Merrill Lynch downgrades Ezra Holdings (5DN.SG) to Underperform from Buy, due to higher business risk after company Friday announced US$250 million ($323,6 million) investment in money-losing Aker Marine Contractors (AMC), is expected to spend at least US$450 million for two newbuild high specification subsea construction vessels in next three years.
Oct 25: Ezra, SGX, Total Access
October 25th, 2010 |
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The following companies may have unusual price changes in Singapore trading today. Share prices are from the previous close. Singapore’s Straits Times Index rose 0.3% to 3,173.57.
Bulk-shipping companies: The Baltic Dry Index, which measures the cost of shipping commodities, rose 0.3% in London on Oct. 22, its first advance in six days.
Ezra posts 9% higher full-year net profit of $99m
October 22nd, 2010 |
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Ezra Holdings, the integrated support and marine services provider in the offshore oil & gas (O&G) sector, has posted 9% higher net attributable profit of US$76.1 million ($98.8 million) for the full year ended 31 August 2010 (FY10).
The group achieved a 24% increase in its profit from operations at US$78.1 million amidst a challenging operating environment during the year, a testament to Ezra’s business model of long term charters.
Singapore’s Ezra says to buy Aker Marine for $42m
October 22nd, 2010 |
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Singapore oil services company Ezra Holdings said on Friday it will buy Aker Marine Contractors, a Norwegian oil service company, for US$325 million ($422 million).
The company said in a statement DBS Bank <DBSM.SI> and JPMorgan <JPM.N> are the joint financial advisors for the acquisition.
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Oct 15: CapitaLand, DBS, NOL, Ezra, TT International
October 15th, 2010 |
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The following companies may have unusual price changes in Singapore trading, say Bloomberg and Thomson Reuters. Share prices are from the previous close. Singapore’s Straits Times Index slipped 0.2% to 3,195.02.
Bulk-shipping companies: The Baltic Dry Index, which measures the cost of shipping commodities, gained 0.8% in London yesterday, taking its three-day advance to 2.8%. Cosco Corp. Singapore (COS SP), a China-based shipbuilder that also operates bulk carriers, slid 1.1% to $1.88. Mercator Lines (Singapore) (MRLN SP), an Indian bulk carrier, declined 3.4% to 28.5 cents. STX Pan Ocean Co. (STX SP), South Korea’s biggest bulk carrier, rose 1.1% to $14.54.
Ezra target cut to $2.20 by DMG, But keeps Buy
September 8th, 2010 |
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DMG cuts Ezra Holdings (5DN.SG) target price to $2.20 from $2.54 after lowering FY11 earnings estimate by 13% to reflect delay in delivery of company’s multi-function support vessel, or MFSV, expected lower utilisation rate for vessel in first year of operation, says Dow Jones.
DMG says supplier of offshore support vessel’s first MFSV won’t be ready next month vs management’s previous guidance for August delivery: “There is little clarity on when the vessel will be delivered.”
Still, research house is keeping its Buy call: “The company is one of the leading integrated oil and gas services providers in the region and the deepwater subsea market will be the next area of growth for the company.” Shares flat at $1.74.
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