Company updates
Emeco has announced its creditors voted to reject the Creditors’ Scheme
Company updates
Emeco has announced it will hold a creditors’ scheme meeting on 13 December 2016 to vote on the proposed recapitalisation and three way merger with Orionstone and Andy’s Earthmovers
Company updates
Emeco’s proposed three way merger with other equipment hire companies provides a sustainable way forward for the company as a going concern
Company updates
On 4 August 2016, Emeco provided a fourth quarter operational update
Company updates
Following Emeco’s 1H16 result, we assess the liquidity position of the company and options for bondholders
Company updates
These three companies have recently reported on their quarterly results. The International Development sector of Coffey’s business remains a positive for revenue, concerns around Emeco’s liquidity continue and positive free cashflow generation for Fortescue results in a strong quarter
Company updates
Emeco has reported a modest result for the first quarter of FY16 but this result remains some way from alleviating concerns about its credit profile. The company’s cash balance has fallen to $20.9m at 30 September 2015 following the September bond coupon payment and concerns over the company’s liquidity remain
Company updates
Emeco’s FY15 result reflects the challenging conditions faced in mining equipment hire sector. While revenues were broadly in line with FY14, EBITDA fell by 36% reflecting increasing margin pressure but also a very weak 1H15 result. Resultant financial leverage (net debt / EBITDA) is up to 9.5 times which is considered very high
Company updates
In case you missed the company news we have published this week, here is a summary
Company updates
The company have released its operational update for 4Q. Here we include some key points from the report