Tripoli, March 5, 2024 (Al-Anbaa Al-Libya) – The General Electricity Company announced the lighting of the Tripoli International Stadium, and the company’s official page on “Facebook” broadcast a video clip showing the stadium after the lighting was completed and it looks wonderful.
In a related development, the company announced in a statement today, Tuesday, the replacement of old and worn-out insulators with new ones in the Tamimi Marwa circuit No. (2), voltage 220 KV. F, where new insulators were replaced for 3 suspension towers, indicating that work is still continuing on the circuit’s path by the Sustainable Energy Company under the supervision and follow-up of the General Administration of Energy Transmission.
The company said that this comes in implementation of the company’s Board of Directors’ plan to conduct extensive maintenance on power transmission lines in many regions, in order to increase the efficiency of the transmission network and ensure the continuity of electrical supply for all citizens.
In the same context, the General Electricity Company announced the disconnection of electricity from the areas fed by the 30 Bir al-Alam station, south of the capital, Tripoli, starting today, Tuesday, from 10 am to 4 pm for a period of three days.
The company said in a statement that the power was disconnected to carry out the modification work and replace the 11/30 K cells. With new cells in the station, and to complete the process of relocating and connecting cables to the new station, under the supervision of the Souq Al-Jumaa Distribution Projects Department – the Four Districts, the Tripoli Medium Voltage Department, and the Emergency and Support Department.
It is noteworthy that the General Electricity Company also announced the continuation of work on the gas line project feeding the Sirte Gulf Steam Electricity Station, by the implementing company (Sirte Gulf Gas Projects) and under the supervision of the General Administration of Production Projects, and in coordination with the Sirte Company for Oil and Gas Production and Manufacturing.
The implementation of the gas line was completed for a distance of 5 km from the connection to the main coastal gas line to the Gulf Steam Electricity Station. Also, the gas line test (hydrostatic test) was successfully completed after welding and backfilling the entire pipe.
The company indicated that work is underway to implement a reception, pressure reduction and measurement station, so that the line will be ready to feed the Gulf Steam Electricity Station (4 x 350 megawatts) with natural gas, because of its very positive impact on the efficiency of the station, as well as economic savings instead of using liquid fuel ( diesel). (Tripoli – Libyan News) H. A
You can also read the news in the source from the Libyan News Agency
Navigating Ford’s Electric Vehicle Impact on Q1 2024 Earnings: Pro Emerges as the Unexpected Contender
Following a strategic shift, Ford (F) announced its first-quarter earnings on Wednesday, surpassing analyst predictions. Nevertheless, Ford's electric vehicle (EV) revenue plummeted by 84% in Q1 2024 due to intense pricing competition.
Ford's Evolving EV Strategy Amid Sales Growth
Despite a remarkable 86% surge in EV sales to 20,233 units in the first quarter of 2024, Ford is reevaluating its approach. All Ford electric models experienced substantial sales growth in double or triple digits.
The F-150 Lightning retained its position as the leading electric pickup in the US, with 7,743 units sold, marking an 80% increase from the previous year. Ford's Mustang Mach-E emerged as the second best-selling electric SUV in the US, delivering 9,589 vehicles, a 77% rise from Q1 2023.
Simultaneously, Ford's commercial Pro division continues to be a surprise performer for the company, with a 40% uptick in EV adoption. Q1 saw a 148% increase in Ford E-Transit sales, totaling 2,891 units.
Ford's growth propelled it to the second spot in the US EV market, excluding combined Hyundai and Kia sales.
The surge in sales followed Ford's introduction of significant price reductions and discounts on the Mach-E and Lightning earlier this year.
Ford Mustang Mach-E (Source: Ford)
Despite the uptick in EV sales, Ford revealed a delay in EV production at its BlueOval City plant until 2026. The launch of its three-row electric SUV has also been postponed to prioritize smaller, more cost-effective EVs.
Meanwhile, Ford announced plans to introduce more hybrid models while developing its next-generation electric vehicles.
All-electric Ford Explorer (Source: Ford)
Ford's Model e EV
Ford's Financial Performance in Q1 2024
In the previous year, Ford’s EV unit experienced a significant net loss of approximately $4.7 billion, attributed to intense competition in the market and increased investments. On the other hand, the EBIT loss for the company decreased to $1.6 billion in the fourth quarter.
Revenue Expectations for Q1 2024
Industry analysts anticipate that Ford will announce revenue of $40.10 billion in its first-quarter 2024 earnings report. The Model e, Ford’s electric vehicle division, is projected to contribute around $24.5 billion in revenue, despite incurring an EBIT loss of $1.65 billion.
Key Highlights from Ford’s Q1 2024 Earnings Report
According to Ford’s official press release, the company’s revenue for the first quarter of 2024 increased by 3% to $42.8 billion, surpassing the estimated $40.10 billion. Additionally, Ford exceeded expectations for adjusted earnings per share (EPS) by reporting $0.49 per share compared to the anticipated $0.42.
Despite these positive results, Ford’s net income declined to $1.3 billion from $1.8 billion in the previous year. The adjusted EBIT also saw an 18% decrease to $2.8 billion due to lower pricing strategies and delays in the F-150 launch.
(Source: Ford)
While Ford Blue, the traditional internal combustion engine (ICE) business, experienced a 13% decline in revenue due to the recent F-150 launch, Ford Pro emerged as a growth catalyst. The commercial and software segment witnessed a 21% increase in volume and a 36% rise in revenue, achieving an impressive EBIT margin of nearly 17% and generating $18 billion in revenue for the first quarter.
(Source: Ford)
On the other hand, Ford Model e faced an 84% decline in revenue due to widespread pricing pressures across the industry. This led to an increased EBIT loss of $1.3 billion year-over-year, translating to approximately $64,000 loss per EV sold in the first quarter. Despite these challenges, the EBIT loss improved from $1.6 billion in the fourth quarter of 2023.
Looking ahead, Ford anticipates enhancements in EV costs, although these improvements may be counteracted by continued pressure on the top-line performance.
(Source: Ford)
Ford Maintains Full-Year EBIT Guidance
Ford, the automaker, is sticking to its full-year EBIT guidance and is optimistic about reaching the higher end of the $10 billion to $12 billion range. The company has adjusted its expectations for adjusted free cash flow, now anticipating to generate between $6.5 billion and $7.5 billion, an increase from the previous $6 billion to $7 billion.
Cost-Cutting Actions and Strategy Shift
Recent cost-cutting measures, including delayed EV investments, have influenced Ford’s updates. This move aligns with the company’s strategy shift towards a more efficient operation. The decision to maintain guidance reflects Ford’s confidence in its ability to navigate the current market challenges.
Rival GM’s Influence
Ford’s decision to update its guidance comes shortly after rival GM also raised its full-year guidance. This trend indicates a positive outlook for the automotive industry as a whole, with major players like Ford and GM demonstrating resilience and adaptability in the face of changing market dynamics.
New Brand Campaign: “Freedom of Choice”
As part of its strategic realignment, Ford is launching a new brand campaign titled “Freedom of Choice.” This campaign aims to showcase Ford’s diverse lineup of gas, hybrid, and EV vehicles, emphasizing the company’s commitment to providing consumers with a range of options to suit their preferences and needs.
Stone One (STX) Set to Shine in the Thai Stock Market: IPO Details and Growth Expectations
“Stone One (STX)” Mining business The first in the Thai stock market Ready to bring shares to trade on May for the first day, April 26, after raising funds to expand raw material sources and mineral production. The brokerage gives a maximum target of 3.40 baht per share, looking at business trends that are growing in line with the direction of economic recovery. and the domestic construction industry
*** may accept “STX”, a stone-mineral mining business, to trade on 26 April.
Mr Praphan Charoenprawat, MAI Stock Exchange Manager (may), disclosed that the Stock Exchange welcomes Stone One Public Company Limited (STX) to be listed and start trading on May under the Real Estate and Construction Industry Group on April 26, 2024 .
which STX and its subsidiaries operate the business of mining stones and minerals. Including providing complete transport services to customers on the job site. There are mining concessions for 2 locations, which include 1) Nong Kha Mine, Si Racha District, Chonburi Province. producing granite used in the construction of buildings, roads, and selling them to customers in Chonburi province. Including the Eastern Economic Corridor EEC area
and 2) Chom Bueng Mine, Chom Bueng District, Ratchaburi Province. Production and sale of limestone and dolomite minerals. Which is used in the construction industry, cement, glass production, soil balancing or water treatment, etc. By the end of 2023, the two mines have reserves of 1.17 and 13.82 million tons Production reserves will run out of within 2025 and 2030, respectively. In 2023, the Group has a revenue structure separated by product, including granite : limestone : dolomite ore, proportions 33 : 55 : 12, respectively.
*** IPO price 3 baht / share.
STX has paid up post-offer capital of 307.13 million baht with a par value of 1.00 baht per share, consisting of 242.13 million existing ordinary shares and 65 million additional ordinary shares, which will be offered to individuals at the discretion of the underwriter, numbering 64. One million shares offered for sale to the company’s benefactors, 0.50 million shares, and 0.50 million shares of directors, executives, and employees, at a price of 3 baht per share, which n represents the IPO value of 195 million baht the IPO price of 921.40 million baht.
When determining the IPO price, the price to earnings per share (Price to Earnings Ratio: P/E Ratio) is equal to 24.22 times, which is calculated from the net profit for the last 12 months ( period 2023) divided by the number of ordinary shares issued and paid for after this share offering (fully diluted) will have a net profit per share equal to 0.12 baht, with IV Global Securities Public Company Limited serving as the financial adviser and underwriter and guarantor
The major shareholders of STX after the IPO are Dr Jarerath Pingklasai’s family, which holds 34.86 percent of the shares, the Ano family. holds 33.56% of the shares and Mr Sayam Watcharapreecha holds 3.91% of the shares The company has a policy to pay dividends to shareholders at a rate of not less than 50% of the net profit of the separate financial statements after deduction taxes and legal reserves.
*** Raising funds to expand raw material sources and mineral production, setting a 2023 budget with profit growth of 76.5%.
Songwut Wechachanukroh Mr. CEO of Stone One Public Company Limited revealed that the company has set goals to expand the source of raw materials and production. Expanding the business to include all regions With sustainable development principles Being socially and environmentally responsible For the money received from fundraising The company will use it to invest or buy a quarry and mineral business. or used in factory construction Machinery and related equipment as well as being used as working capital in the business
In this regard, the operating results in 2023, the company had a net profit of 38.04 million baht, an increase from the previous year of 16.48 million baht or 76.5%, the main reason was the increase in income growth in 2023, with a total income of 371.29 million baht, which grows from last year by 32.8%.
The driving factor for this growth comes from the sale of 20 mm granite from the Nong Kha quarry for the construction industry. Return to normal production Including the company’s new product at the Chom Bueng Mine which is powdered dolomite. It is sold to customers in the glass and cement industries. This is a product with added value (Added value) and increases the customer base to more diverse industries. The ancillary gross profit margin is 31.26%, net profit margin is 10.24%.
*** The brokerage estimates the target price of STX in the range of 3.08 – 3.40 baht.
IV Global Securities Company has disclosed that it estimates the appropriate value of STX to be equal to 3.40 baht. It is expected that net profit in the next 3 years, 67 -69, will grow at an average CAGR of +27% of growing income. average CAGR + 10.6 % Support from 1. Following the growing trend of the construction industry for large government projects. and private sector projects with increasing demand for industrial stone 2. Increased operating cash flow from investment in new mines. after that Received an investment from an IPO and we expect to start realizing income from the new pool at the end of 2025.
Global Securities Company STX’s operating results in 2023-2025 are expected to grow by 20% per year. , because the government sector has invested 337 billion baht to build infrastructure and public utilities of the EEC in 2023-2027 In addition, there is a shortage of stone in the eastern region, causing the selling price to increase, supporting additional gross profit margin . Estimated fair price of 3.08 baht per share.
And ASL Securities revealed that they estimate STX’s target price at 3.12 baht, estimating the company’s sales and service revenue trends in 2023 – 2025 to be 353.28 million baht, 457.40 million baht, and 518.15 million baht, representing a growth of 13.61% CAGR the trend of increasing sales volume from the economic recovery and the construction industry in the country. and the gross profit is expected to be equal to 31.26%, 30.65% and 30. 76%, respectively Consequently, we estimate net profit for 2023 – 2025 to be equal to 38.04 million baht, 47.38 million baht, and 49.40 million baht. , respectively, representing a net profit margin of 10.24%, 10.17% and 9.48% respectively.