RE:RE:RE:RE:What to think about the 2020 Financial Report Care to be more specific about the problem you forsee?
What exactly is the issue with the hedging and tolling agreement? You are making very broad statements.
bossu wrote: Tank you both Johnwith 30 years and Capharnaum for your view.
The problem I have with ALA is the hedging of their main product that they procede...and their tolling agreement !
The best example is the EBITDA at Ripet for the last 6 quarters to Sept 30
..................................Shippement Ebitda
Numbers Q3 2019.....268 690............37 M
................Q4 2019.....274 913.............36 M
................Q1 2020.....257 793.............27 M
................Q2 2020......304 248............30 M
...............Q3 2020........290 758...........23 M
................Q4.2020.......306 314 Difficult to put a number but I would ''guess'' about the same as Q2 2020 EBITDA at 30 M because of the same number of tons shipped.
If so, Ebitda to be less In the Q4 2020 than the Q4 2019 where 274 913 tons were shipped resulting in an Ebitda of 36 M or a reduction of 6 M
Hedging and ''tolling ''to the Japaneese market looks to me a bit problematic and with the natural gas price ''exploding''they are OK for some time but what about 9 months from now ?