15225 replies to this topic

[LarryK]

I think today’s movement was a classic pump and dump.

Hoping for anything under R1 then I’ll buy again and hold until the next rally.

[andi222]

MF has released their balance sheet for HJ 2020. As at 30 September 2019 Equity was at 1.12 Billion dollar and now Equity as at 31 March 2020 has gone up to 1.35 billion dollar indicating they have generated a nice profit of 230 Million for the period HJ 2020. Also their cash levels as at 31 March increased to 262 million. 

 

Guys, this is extremely well done by management. 

[Lionelza1]

Crazy

Not really.... Previous high was around R1. 62..... If it goes higher than that I would call it crazy....

What I see now is market sucking us in to spit us out.... Just my thoughts... IF it goes higher than R1. 62 I would think somethings up

[Shi]

Crazy

 

True, up 10% currently, but volumes are big (already over 2 million shares traded)

[LarryK]

Crazy

[Lionelza1]

And Mr Market is pumping this morning... Up 17% haha

[Lionelza1]

These ouks r doomed, the reality is they are not making money, their debt is increasing, all those fancy agreements with creditors will probably have to be re-negotiated as they might have difficulty in honoring those agreements with HUGE loss of sales. Even when they open doors again the sales would be bare minimal.

I think Mr Market will find new lows in the comming future

We seen a low of 80c, then R1 and started to look promising... But this is BEFORE impact of covid-19, steinhoff business are not spared from this devastation we see happening, so now if we thru this impact into the equation... I see the kak gonna hit the fan... No more Tata MA chance for me lol

[Lionelza1]

These ouks r doomed, the reality is they are not making money, their debt is increasing, all those fancy agreements with creditors will probably have to be re-negotiated as they might have difficulty in honoring those agreements with HUGE loss of sales. Even when they open doors again the sales would be bare minimal.

I think Mr Market will find new lows in the comming future

[Investment novice]

We will see some nice short term pump and fortunately there is a good online sales as well. Poundland will take pnishement Q3 2020......but 2019 amazing.

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[andi222]

I think HJ 2020 will still be really good. And we might be in for a positive surprise. Remember most shops where basically still open until end of March.
Also I think we might be in for a surprise regarding cash levels.

Hopefully we will also get some info on litigation. But let's see.

It formed a really strong bottom at around 5 euro cents or 1 rand. It will take some really bad news to break this. So around those levels I might top up again.

It will definitely lead to a run up in June, like it always does haha

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[Lionelza1]

Yeah I was actually expecting this.

We will receive the HJ 2020 results now before we receive the annual report haha. The new timetable is set out on the website.

Yea HJ2020 due 26June, I don't expect that to look any good due to loss of sales with covid...so I'm expecting a hammering of share price... What will share price be by the time 2019 annual report is published? 50c?

[andi222]

This lockdown needs to end asap, its no good for Steinhoff. At least in some European countries they are re-opening stores again with strict safety measures. But atleast they are trading again. I do hope that there wont be a additional Lockdown period in SA. 

 

Steinhoff was already struggling and now this came by makes the situation really complicated.

[Lionelza1]

It messes up routine for the traders lol.. Pumpers and dumpers... I sold out taking no chance, 2mnths a long time... Will look forward for 1st week in June again

[LarryK]

Luckily for their management team there’s already no shareholders’ confidence in them.

Question is what level should we look for entry and what level to exit?

If the next event is end June then this thing will probably drop to below R1? Any opinions will be great

[andi222]

Yeah I was actually expecting this. 

 

We will receive the HJ 2020 results now before we receive the annual report haha. The new timetable is set out on the website.

 

[Lionelza1]

oh dear....last minute postponments......typical of this management

[Shi]

Market doesn't seem to like the news of a delay in the financials (see SENS)

 

 

On this basis, the Group currently estimates that it will be able to publish its 2019 Annual Report, including the audited Consolidated Financial Statements, on 30 June 2020.

[andi222]

Yeah these will be the figures for Sep 2019. Most numbers we do know but a lot has happened which will be of interest. Like where is the cash balance sitting, how did the EBITDA do, how much did they receive on their disposals, where are the litigation standing etc. I think we can expect a very detailed report which will probably be over 300 pages again lol.

 

Good point, they will have to release a trading statement as these results will be way better then previous years. So I think we can expect something next week regarding a trading statement.

 

Yes COVID will have a bad impact on Steinhoff. However this is also limited as some shops are still open or are selling online. I'm expecting that COVID will have a once off hit on EBITDA of around 12 to 18%. We will however only see when we get the quarter updates.

 

So one good thing about COVID is that company's with huge debt levels will defiantly benefit from the reduced interest rates worldwide. This gives me hope that Steinhoff will find new loans to refinance their existing loans at much better rates. All units should be profitable by the end of 2021. So we do have a good foundation.

 

 

[Dell]

Hi Andi, I agree...

 

i'm no expert, but a couple of thoughts to get some opinions/conversation going...

 

1.  AFS report on past events, so COVID shouldn't impact the figures...post balance sheet disclosure though

2.  If the AFS were much better than previous, shouldn't there have been a profit warning sens?

3.  COVID will hurt SNH, just like the most other companies around...Steinhoff is no exception, in fact, high overheads that aren't covered will hurt...

4.  Banks have stuck with SNH up to now, hopefully they will keep supporting...most of their clients, including the banks themselves, will be bleeding...

 

Good luck

[andi222]

AFS 2019 will be very interesting to read. Hope they are not deferred due to Corona.