So the margins (the calculated margin of the bid) are so thin that even a small realized risk will run the whole thing aground. The projects are therefore fixed-price. There are plenty of risks in those large projects. This means the party that dares to push the risk margin as low as possible wins.
Enersense’s balance sheet and equity (opo) have been at a fairly reasonable level, but according to reports, equity has been coming down steadily and significantly. If the risks of a larger project materialize, the seawater will be stinging their backsides immediately.
I still have a small amount of Enersense in my portfolio, but I’ll sell at the latest after the 2024 earnings release. Enersense seems to be pushing from one disappointment to the next.
It’s not worth getting into this. I wonder what the Ehrnrooths actually see in this?