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Guggenheim S&P Global Water ETF Message Board

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  • pat_cret pat_cret Oct 16, 2004 8:18 AM Flag

    anybody getting excited about SCRa/b?

    Sea Containers sold Isle of Man Steam Packet Company, part of his ferries operations, in 2003:

    Selling price - 240 mios

    IOMSTPC revenue - ~ 84 mios
    IOMSTPC ebit - ~ 19.7 mios
    IOMSTPC ebt - ~ 8.5 mios

    Following this sale, Sea Containers indicated that they used the proceeds to repay debt and thus annual interest savings would amount to
    21 mios.
    Not a bad sale indeed: 19.7 mios of ebit becoming 21 mios earnings.

    And then the following:

    The same year, Silja, a ferries operator, became wholly owned by Sea Containers:

    Purchase price : 592,8 mios

    Cash paid : 211.1 mios
    Liabilities assumed: 381.7 mios

    Revenue 2003 : 619,0 mios
    Revenue 2002 : 493.0 mios
    Revenue 2001 : 457.0 mios
    Ebit 2003 : 43,0 mios
    Ebit 2002 : 54,0 mios
    Ebit 2001 : 41.0 mios

    Then the following:

    Liabilities restructured: 498,0 mios
    Interest paid at Euribor + 1.625 %

    Shrewd!

 
CGW
26.09+0.31(+1.20%)9:30 AMEST