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#1 | |||
Regular Member
Join Date: Mar 2008
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Holden Australia slumps to $210m loss
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#2 | ||
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Expect more this year....
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#3 | ||
FF.Com.Au Hardcore
Join Date: Jan 2005
Posts: 14,654
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How come Wally or Brazen missed posting this news??? Lift your game boys!
Being market leader in sales is clearly working for Holden....
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#4 | |||
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Perhaps Burnz or Outback will post some more details of the progress Holden is making.... |
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#5 | |||
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#6 | |||
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Yes I must remember that.. the Hatchback is selling sooo well I'm told... |
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#7 | |||
FORMERLY TX3DUDE
Join Date: Jan 2005
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#8 | |||
FF.Com.Au Hardcore
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#9 | |||
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Imagine if they had down balanced as they should have by giving their people "packages" instead of "screwing" them over... Add $100 to $200 mill to that number... |
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#10 | ||
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Join Date: Feb 2005
Location: Auckland, NZ
Posts: 2,886
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What happens if Holden continue to bleed money? - It's not like they can ask GM for more money.
Also, when can we expect Ford to report on the 2009 financial year? |
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#11 | ||
XP Coupe
Join Date: Jan 2005
Posts: 2,098
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I've been patchy on the net today 4Vman, but I can rely on your keen sense of prepubescent razor wit to fill in the gaps. [starwars] The estrogen is strong in you and your special friend 4V. [/starwars]
Insofar as the Holden result, regardless of special items, a $211m loss is a $211m loss. Don't know why finacial officers feel it is necessary to make excuses for poor performance in non listed companies. |
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#12 | |||
FF.Com.Au Hardcore
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#13 | |||
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I suspect Ford will announce a loss of about $40 mil. I'm guessing.. |
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#14 | ||
XP Coupe
Join Date: Jan 2005
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Don't forget I can't see your posts 4V, but I'm sure your loyal shadow will quote them, for you.
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#15 | |||
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Join Date: Mar 2005
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I'd like some clarification on those figures though. I can see how the $210.6 million loss after charges $223.4 million one-off charges $12.8 million after-tax profit But, how do you turn a positive operating cash flow of $289.8 million into just $12.8 million after tax profit? Which suggests about $19 million before-tax profit. Does their $289.8 positive cashflow include the $200 million the Australian government granted GMHolden? Is it absorbed by interest payments to their US owner? Did they absolutely balls-up their currency hedging on their imported line-up? Very interesting.
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#16 | |||
XP Coupe
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#17 | |||
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#18 | |||
You dig, we stick!
Join Date: Mar 2006
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(No offense to the thread-starter by any means) I don't see the point to this topic. If they make a loss they get bailed out. And if they make money, they squander it on concept cars that never see the light of day, or on kickbacks to the press.
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Last edited by Falc'man; 31-03-2010 at 09:27 PM. |
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#19 | |||
FF.Com.Au Hardcore
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BA2 XR8 Rapid M6 Ute - Lid - Tint -18s 226.8rwkW@178kmh/537Nm@140kmh 1/9/2013 14.2@163kmh 23/10/2013 Boss349 built. Not yet run. Waiting on a shell. Retrotech thread http://www.fordforums.com.au/showthr...1363569&page=6 |
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#20 | ||
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Join Date: Feb 2010
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Philly C, there are many ways to report a positive cash flow, in years when you make a loss. Holdnens pay its large suppliers 4 months after they receive the goods. A commodore can be sold (and sales and cash flow recorded), 3 months and 3 weeks before even holden pay the suppliers (and the suppliers workers, and suppliers suppliers). And these can costs will be rolled into next reporting session. Holdens largest supplier at the moment is Daewoo, we dont know if Holden has paid Daewoo for all the cruzes and Captiva's they have received and sold. Unless Holden releases a detailed financial report, then one must simply see a $200 million plus lost as a very very very big loss, with no excuses. A $200 million dollar loss, for a company, which their own auditor last september, said may not be a going concern, would seem to be a very very big concern.
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#21 | |||
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GMH must certainly be flying pretty close to the wind. After all not paying redundancies last year was proof of that. But the media lapped it up with them being nice and keeping employees on despite the half pay every 2 weeks & loss of loadings plus additional non-paid shutdown days.
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BA2 XR8 Rapid M6 Ute - Lid - Tint -18s 226.8rwkW@178kmh/537Nm@140kmh 1/9/2013 14.2@163kmh 23/10/2013 Boss349 built. Not yet run. Waiting on a shell. Retrotech thread http://www.fordforums.com.au/showthr...1363569&page=6 |
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#22 | |||
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#23 | |||
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I think they were about breakeven towards the end of the year but had substantial losses in the first half. The posted results will be interesting.. FoA are still in trouble, however having said that Holden are in deep "stuff". As mentioned above, they are considered to be a risk as far as a on going concern is considered... |
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#24 | |||
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(probably not really)
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#25 | |||
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Join Date: Mar 2005
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I actually wonder if the operating profit and huge loss kind of tie in with GMH's accounting method. Ie the factory can make cars for say $30,000 but then sell them to GMH via stock transfer for $32,000 (thereby booking an manufacturing operating profit) who then onsells to dealers at $30,000. So, the production side of things made a profit but the entity made a loss of equal size. Those dealers could easily be here in Aus or the US or Middle East. Bobthebilda, can you locate a link to the GMH auditor stating they probably aren't a going concern? Scary stuff. PS I think that delay in production to payment is how New GM posted a profit late last year. They basically have a mammoth excess of stock. So they stopped making vehicles and ate into the inventory. Costs were down, revenue neutral / increased. Instant but unsustainable profit.
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BA2 XR8 Rapid M6 Ute - Lid - Tint -18s 226.8rwkW@178kmh/537Nm@140kmh 1/9/2013 14.2@163kmh 23/10/2013 Boss349 built. Not yet run. Waiting on a shell. Retrotech thread http://www.fordforums.com.au/showthr...1363569&page=6 |
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#26 | |||
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#27 | |||
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Since the comeback king Burela came on board, it will make for interesting results.
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#28 | |||
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Join Date: Apr 2007
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i think toyo will be the only profit provider that year.
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#29 | ||
FF.Com.Au Hardcore
Join Date: Feb 2010
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Philly, the link below was to an age article, when Holden reported their last loss
http://www.theage.com.au/business/ho...0702-d6ky.html I have seen other articles referring to the same issue. The poignant part being Deloitte partner Clive Mottershead said Holden's "interdependence" with the now bankrupt GM, combined with the car maker's $US70 million ($A86.8 million) annual loss and the fact that current liabilities exceeded current assets by about $US250 million, cast uncertainty over the Australian operations.. And there has been other articles about how the Commonwealth bank (traditionally their bank), wont support them anymore, so the fed government has basically agreed to "underwrite" them Thus if you have $250 million in negative assets, and you make another $200 million dollar loss, Then you avoid paying redundancies at all cost, because you simply cant afford them. |
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#30 | |||
FF.Com.Au Hardcore
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Discounted low spec fleet sales must be killing them.
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