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Steinhoff een mooie kans

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Vossejongk
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[verwijderd]
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quote:

Vossejongk schreef op 1 juli 2020 08:23:

Er zijn dus debielen geweest die 3,6 mln stukjes hebben verkocht voor 4 cent lol
Shorters?
Koindraak
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quote:

Kennethwijk schreef op 1 juli 2020 08:46:

[...]

Shorters?
Op 5 cent gaan shorten ! Lijkt me sterk
kaka'01
1
Mittwoch, 01. Juli 2020
DER BÖRSEN-TAG­
08:27 Uhr
Steinhoff wird optimistis­cher
Der südafrikan­ische Möbelhändl­er Steinhoff zeigt sich angesichts­ einer guten Nachfrage infolge der Lockerungs­maßnahmen in zahlreiche­n Ländern vorsichtig­ optimistis­ch. Der Umsatz habe mittlerwei­le wieder ein Niveau erreicht, das etwa dem vor Ausbruch des Coronaviru­s entspreche­, teilte das Unternehme­n mit. Der Barmittelb­estand sei Anfang Juni deutlich besser gewesen als zum Beginn der Pandemie befürchtet­. Per Ende Mai seien etwa 95 Prozent der Geschäfte wieder geöffnet. Allerdings­ gebe es keinen Grund zur Entwarnung­. Die Situation könne sich schnell verändern und es sei nicht sicher, wie nachhaltig­ letztlich die aktuell relativ gute Nachfrage sei.

Das Unternehme­n arbeitet eigenen Angaben weiter daran, offene Rechtsstre­itigkeiten­ beizulegen­. Der Konzern, der in Europa, den USA und in Afrika tätig ist, hatte im Dezember 2017 massive Unregelmäß­igkeiten bei der Rechnungsl­egung einräumen müssen.

Quelle: ntv vom 01.07.2020­

DeZwarteRidder
2
Steinhoff wordt optimistischer
De Zuid-Afrikaanse meubelverkoper Steinhoff is voorzichtig optimistisch over de goede vraag als gevolg van de versoepelingsmaatregelen in tal van landen. Ondertussen heeft de verkoop een niveau bereikt dat ongeveer overeenkomt met dat van vóór de uitbraak van het coronavirus, aldus het bedrijf. Contant geld was begin juni aanzienlijk beter dan gevreesd aan het begin van de pandemie. Eind mei was ongeveer 95 procent van de winkels weer open. Er is echter geen reden om alles duidelijk te maken. De situatie kon snel veranderen en het was niet zeker hoe duurzaam de momenteel relatief goede vraag uiteindelijk zou zijn.

Het bedrijf blijft werken aan het beslechten van open geschillen. De groep, die actief is in Europa, de Verenigde Staten en Afrika, heeft in december 2017 enorme boekhoudkundige onregelmatigheden moeten toegeven.
[verwijderd]
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quote:

Koindraak schreef op 1 juli 2020 08:50:

[...]

Op 5 cent gaan shorten ! Lijkt me sterk
was vanochtend toch een daling van 20% of je dat doet met 100euro of 5cent maakt dan niet zoveel uit.
DeZwarteRidder
1
quote:

toontje hoger schreef op 1 juli 2020 10:11:

Is het aandeel tijdelijk geschorst ?
De beurs staat op tilt wegens teveel schudden.
Jeewee
2
Zusammenfassung von Andi aus dem ZA Forum:

I had a look at the AFS 2019. At first it looks horrible, Equity at negative 2.4 Billion € and a loss of 1.84 billion €.
However looking into it one can see what an impressive job the management has done to keep this ship sailing into the right direction. Even though management has performed exceptionally well during the period their remuneration went down from 45 Million to 29 Million €.

Now to the key highlights after the reporting period:
-Sold Blue Group for 10 Million
-Sold part of Greenlit for 40 Million €
- Disposal of Unitrans of 300 Million €
- Sale of Sherwood of 50 Million €
- Properties disposed of 280 Million €
All these proceeds are not reflected in the cash balance yet. 680 Million Additional cash.

Now looking at the operational performance:
Revenue grew to 12 billion € from continued operations.
Loss however came in at 1.84 billion €. This looks terrible at the first look. BUT we have to take the following into consideration:
Once off Advisory Fees: 160 Million
Interest expense 1.1 billion (Which is capitalized at the moment and will hopefully be refinanced at way lower interest rates after 2021)
Loss from discontinued operations 450 Million (These units will be gone in the near future)
Impairments of: 400 Million (Additional once off impairments have occurred) hopefully the last ones as there is basically nothing left to write down)
Conforama restructure charges 217 Million once off.
Amortization/Depreciation charges of around 200 Million.
This actually gives you a profit of around 0.9 to 1 billion.

Other highlights:
Net stores increased by 550 stores
MF is valued at 9 Million € in the books, MF is worth way more after the restructure.

Net debt levels
Current: 9.6 billion
This includes a 180 Million take up of MF loans 180 Million MF.
The actual debt should have been at 9.1 billion opening balance plus the 1.1 billion interest. So we would be sitting at 10.2 billion plus the 180 Million take up of MF. This gives us around 10.4 billion.
But guys have you noticed that the Actual balance sits at 9.6 Billion € as at 30.9.2019.
Which means that Steinhoff has reduced the loans by around 0.8 Billion €.

We are on a good way guys. I think management is still following a very conservative approach and they use every opportunity to account for values at the lowest possible value. Again I think this is to act poor for the litigation's to come.

Also litigation seem to be ongoing. Luckily no provisions have been raised yet which means no claims are certain as of today. If a claim would have been probable they would need to immediately record a provision.

Also regarding the audit opinion:
We had the following number of points which formed the basis of disclaimer of opinion:
2017: 9 points
2018: 8 points
2019: Only 6 points left.
Material uncertainty related to going concern – This one will disappear once litigation are sorted or more long term loans are secured.
Material uncertainty with respect to litigation- Relates to point 1
Material uncertainty with respect to uncertain tax positions – Might be solved for 2020
Material uncertainty with respect to the share in the investment in Conforama - Might be solved for 2020
Material uncertainty with respect to the audit evidence of Conforama - Might be solved for 2020
Material uncertainty with respect to the foreign currency translation reserve - Might be solved for 2020

Again this is just my personal own opinion of the AFS 2019. Looking forward to the HJ 2020 results as we will then be up to date also with the reporting timelines.
Jeewee
0
Cijfers lijken volgens hem dus op eerste gezicht niet best, maar zijn dus eigenlijk voor een bedrijf met zoveel problemen niet zo slecht
ubu
0
Kun je de Wirecard situatie vergelijken met die Steinhoff? Wat zijn de verschillen en overeenkomsten? Is het toekomstperspectief van de een beter dan van de ander? Zo ja, waarom?
Caramba1
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We praten hier over cijfers 2019 waarvan het boekjaar in sep 2019 eindigde. Indrukwekkend is hoe het management bezig is Steinhoff te stroomlijnen en reorganiseren. Cijfers einde maand zullen veel meer zeggen.
Koindraak
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quote:

Caramba1 schreef op 1 juli 2020 17:35:

We praten hier over cijfers 2019 waarvan het boekjaar in sep 2019 eindigde. Indrukwekkend is hoe het management bezig is Steinhoff te stroomlijnen en reorganiseren. Cijfers einde maand zullen veel meer zeggen.
Helemaal mee eens. Ik vind deze daling vandaag ook niet rechtvaardig
DeZwarteRidder
1
quote:

Caramba1 schreef op 2 juli 2020 07:30:

irhosted.profiledata.co.za/steinhoff/...
Outlook

Looking back on 2019, we can be encouraged about the progress made but we must also remain
realistic about where we find ourselves at this point in our journey. We take encouragement from the
many achievements of the year, most significantly the implementation of the financial restructuring
in August and the period of stability that this has enabled. However, real uncertainties remain, and
we still face a number of tough challenges. Our view of our situation has not changed in the period
subsequent to the year-end.

Trading conditions reflect a tough global economy. Businesses such as Pepkor Africa and Pepco Group
grew strongly prior to the onset of the COVID-19 crisis. Conforama, Mattress Firm and Greenlit Brands
retained strong market positions but remained in recovery.

In common with businesses around the world, we saw a material impact from the COVID-19 pandemic
from mid-March 2020 when lockdowns were initiated in Europe and South Africa. Steinhoff’s retail
business investments remain geographically well diversified and their focus on providing everyday
products at affordable prices, through a stable of strong local brands, gives some resilience in this
environment, but the breadth of measures adopted worldwide to combat COVID-19 have inevitably
impacted on our trading performance.

In mid-March management acted swiftly to implement a definitive COVID-19 response strategy.
Initially, this focused on ensuring employee and customer safety, securing liquidity and preserving and
maximising the Group’s cash position. Cash positions were maximised through the immediate draw
down of committed facilities, working collaboratively with key suppliers to defer or cancel stock
commitments, appropriate use of government support and funding schemes in territories where
criteria were met and reducing discretionary expenditure. Thereafter, attention turned to the actions
necessary to return to a more normal trading position, particularly with regard to enhanced online
trading, securing seasonal inventory, and to positioning the businesses to take advantage of the longer
term opportunities resulting from the changed competitive environment. As we have faced the
COVID-19 challenge, the health and safety of our colleagues and customers has been our top priority
and we are continuing to adopt comprehensive public health protocols. Significant operational
changes have been made in our stores and offices including PPE provision where relevant for
colleagues and customers, the installation of Perspex screens at till points, introduction of sanitisation
stations, adoption of rigorous social distancing practices and encouraging payment by card. All of this
has been achieved while adhering strictly to country specific government regulations.

We are proud of the way the businesses have responded to the crisis and thank all colleagues for their
unwavering support.

More recently, we have begun to see a progressive relaxation of lock-down measures in most of the
countries in which we do business, although the pace of moderation varies significantly, depending
on local circumstances and government guidance.

Poundland stores in the United Kingdom and selected Pepkor offerings in southern Africa were
designated as ‘essential retail’ and were able to continue trading throughout the lockdown period.
Our apparel and general merchandise, and household goods, stores were mainly closed during April
but began to re-open on a selective basis thereafter. Across May 2020, as restrictions were lifted,
stores reopened progressively, to the point where over 95% of the estate was trading by the end of
the month. Encouragingly, since re-opening revenue has trended back towards pre-lockdown levels.
While initial trading has been better than expected, with clear evidence of stores benefiting from pent-
up demand, the sustainability of this demand is uncertain in the context of weak overall economic
conditions and the potential for further COVID-19 outbreaks. The Group’s main trading subsidiaries,
with their more resilient and defensive discount and value offering, are, however, confident that they
are well positioned to gain market share in the post-COVID-19 ‘new economy’.

It remains too early to determine the exact impact of the pandemic on the performance of the Group
for the 2020 financial year.

However, we expect COVID-19 to have a material negative impact on overall turnover and underlying
business performance during this period.

As certain countries have eased lockdown measures earlier than the Group’s forecasts anticipated,
and with post lockdown sales performance materially better than our forecast assumptions, the
Group’s cash position as of early June was significantly stronger than anticipated at the outbreak of
the pandemic. The Group’s cash forecast and requirements are being kept under active review, and
structures enabling quick decision making are in place to ensure that if any further initiatives are
required to protect the Group’s position they can be implemented swiftly.

While the Group is confident that the actions it is taking to address the impacts of COVID-19 are
appropriate and timely, the situation remains fast moving and uncertain and is being kept under
constant review.

We have previously summarised the Group’s future pathway as a three-phase process:
1. Creditors arrangement (CVAs implemented on 13 August 2019)
2. Manage litigation risk (investigate possible solutions and implement)
3. Restructure Group with a view to reduce debt and financing costs

With Step One complete, we are now fully engaged on a solution to the Group’s litigation issues (Step
Two). The asset realisations and restructures are in support of Step Three. As we look ahead, we are
clear that the best way for us to protect and enhance value for all stakeholders is to resolve the
litigation and reduce our debt and financing costs. This will be our clear focus in the period ahead.

hirshi
0
Een aandeel Steinhoff is bijna niets meer waard.

Voor speculanten die er geen probleem mee hebben als ze ook die laatste stuiver kwijt raken.
DeZwarteRidder
1
Het eigen vermogen toekomend aan de aandeelhouders van Steinhoff was eind vorig jaar ca 1 miljard negatief.
Zodra de verkoop van Poundland etc. een boekwinst oplevert van meer dan 1 miljard is het eigen vermogen dus weer positief.

Verder schat ik dat Steinhoff op dit moment ca 2,5 miljard in kas heeft, dankzij de diverse verkopen van onderdelen.
hirshi
0
Speeltje voor speculanten.

Nog slechts een stuiver per aandeel, maar beleggers branden er hun vingers niet aan.
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