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Velan Inc T.VLN

Alternate Symbol(s):  VLNSF

Velan Inc. is a Canada-based manufacturer of industrial valves. The Company designs, manufactures and markets on a worldwide basis a broad range of industrial valves for use in critical applications. It provides solutions to many sectors including power generation, nuclear, oil and gas, chemicals, LNG and cryogenics, pulp and paper, geothermal processes, shipbuilding, defense, and carbon-neutral technologies. Its product categories include quarter-turn valves; gate, globe, and check valves; cryogenic valves; HF acid valves; steam traps; bellows seal valves, and Velan ABV valves. Its service includes research and development, maintenance manuals (IOMs), spare parts and service center locations. Its quarter-turn valves include Memoryseal ball valves and VTP-2000 high performance three-piece ball valves. The Company's cryogenic valves include cast steel cryogenic valves and API 602 small forged cryogenic valves. The Company has manufacturing plants in approximately nine countries.


TSX:VLN - Post by User

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Post by claritason May 18, 2024 9:39am
328 Views
Post# 36047123

Q4 results

Q4 resultsJust went over the 4th quarter and fiscal 2024 report and came away satisfied.

The admin costs included another $10mm asbestos provision, so if this marks a final adjustment, then the profit/loss picture will be much improved.  EBITDA was positive despite the challenging year.

Long term debt down to $4.3mm (current portion of $24mm should be paid down by year end) unless they make an acquisition.

They expect revenues to be up in fiscal 2025 (Feb year-end) , generated solid bookings and has a strong backlog.

With the (new) management time now back full-time to running the Company, instead of the distraction of a dis-allowed takeover, and with oi&gas and nuclear perspectives as strong as ever, I expect a positive news flow over the year with an accompanying gradual improvment in the share price.
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