Major money problems at Denel

Jan

Who's the Boss?
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Meltdown at Denel

Denel is in a financial meltdown with debt of around R3.5 billion and cumulative losses of nearly R5 billion over the last few years.

The once-proud arms manufacturer, with great products like the Rooivalk attack helicopter and the G6 self-propelled howitzer, has been gutted.
 
Those Inventories vs Revenue numbers look a bit odd

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Say what now, another SOE circling the drain?

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Those Inventories vs Revenue numbers look a bit odd

View attachment 1111058
Those revenue numbers looked great when I read them per normal financial statements and assumed most recent year was on the left lol. Yeah, Denel been in trouble for a long long time. Too many new staff hired that weren't suitable, cancelled contracts, fraud etc.
 
BlooDBath, Somchem is part of Rheinmetall and Denel ghas a minority share in Somchem. No controlling interest.Most of Somchem products exported.Your are confusing Somchem with PMP which is part of Denel.
 
Between the old ballies retiring and the younger dudes emigrating there wont be a lot left of Denel soon
 
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