15225 replies to this topic

[Investment novice]

DayTraderDad, on 26 Feb 2019 - 6:08 PM, said:

STEINHOFF INTL HLDGS NV ORDINARY SHARES (OTCMKTS:STHHF) Shorted Shares Increased 0.3% After Market Selling: (USA Market)

https://whatsonthoro...market-selling/

My thoughts are that on 4.4 billion shares in the market this is insignificant volume for a. Short.. However the opposite may hold that this could be a good thing...

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[DayTraderDad]

STEINHOFF INTL HLDGS NV ORDINARY SHARES (OTCMKTS:STHHF) Shorted Shares Increased 0.3% After Market Selling: (USA Market)

 

https://whatsonthoro...market-selling/

[Investment novice]

Captainfrom82, on 26 Feb 2019 - 4:04 PM, said:

Hi DTD,

The problem with the various CGUs is that Conforama has a large weighting. For 1Q18 Conforama accounted for 21% of the Steinhoff revenue. If they miss targets, it will affect the revenue.

However, from the previous trading updates, for the first 3 quarters of the FY18, there was almost no change in Conforama revenues.
Q3:18 Q3:17 Q2:18 Q2:17 Q1:18 Q1:17 Total H1 Total H1 Total 9M Total 9M restated restated 30-Jun-17 31-Mar-18 31-Mar-17 31-Dec-17 31-Dec-16 31-Dec-15 31-Mar-18 31-Mar-17 30-Jun-18 30-Jun-17 719 720 828 810 1 003 1 011 1 831 1 821 2 550 2 541

I hope this comes out okay. As I type this, the display looks fine, but I am aware people have complained that when you hit the "post" button the format is lost!

In case you do not get the proper picture, the variance measured between 1Q17 and 1Q18 (and repeating this for 2Q and 3Q is 0.35%. I have omitted 4Q for obvious reasons.

The Conforama revenue is quite seasonal. But, it would take a particularly poor performance from Conforama to result in a materially poor trading update.

Best Regards
Captainfrom82

Have you factored in new Conforama sites as well as online business sales revenues.


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[DayTraderDad]

Captainfrom82, on 26 Feb 2019 - 4:04 PM, said:

Hi DTD,

 

The problem with the various CGUs is that Conforama has a large weighting.  For 1Q18 Conforama accounted for 21% of the Steinhoff revenue.  If they miss targets, it will affect the revenue.

 

However, from the previous trading updates, for the first 3 quarters of the FY18, there was almost no change in Conforama revenues. 

 

 Q3:18   Q3:17   Q2:18   Q2:17   Q1:18   Q1:17     Total H1   Total H1   Total 9M   Total 9M           restated   restated              30-Jun-17 31-Mar-18 31-Mar-17 31-Dec-17 31-Dec-16 31-Dec-15 31-Mar-18 31-Mar-17 30-Jun-18 30-Jun-17                 719                 720                 828                 810                   1 003                     1 011                      1 831                   1 821                   2 550                   2 541

 

I hope this comes out okay.  As I type this, the display looks fine, but I am aware people have complained that when you hit the "post" button the format is lost!

 

In case you do not get the proper picture, the variance measured between 1Q17 and 1Q18 (and repeating this for 2Q and 3Q is 0.35%.  I have omitted 4Q for obvious reasons.

 

The Conforama revenue is quite seasonal.  But, it would take a particularly poor performance from Conforama to result in a materially poor trading update.

 

Best Regards

Captainfrom82

Thanks Captain well explained.

[Captainfrom82]

leo, on 26 Feb 2019 - 3:56 PM, said:

Captain,

 

Go do your homework and don't believe everything on this thread... as most are invested.

 

Go through my historical posts, use it or don't.

 

Hi Leo,

 

I am fully aware of the various posts, thank you. - I have lurked on this and other platforms for a very long time.  Please rest assured that  I have done my homework, thank you. I am not bragging, this is just a fact.  You can test me if you want.  Ask me ANY question regarding the Steinhoff reported financials/trading updates, and my interpretation and the reasons for my interpretation. .  You can go back all the way to 2014 if you like. 

 

My problem is that many on this platform repeats an assertion almost as if by repeating it, it becomes a fact. 

 

In Tom's case he has repeated the position that Steinhoff is insolvent. I have demonstrated that Steinhoff is not insolvent -  I am asking for his evidence!

 

 

Best Regards

Captainfrom82

[leo]

The share is flying on tradegate boys/girls

[Captainfrom82]

DayTraderDad, on 25 Feb 2019 - 08:48 AM, said:

I don't expect more negative news its just a trading update so will only have sales not full financials. Only Conforama that can bring negative news because before management already said they had top give more cash but did not say for what.

 

Hi DTD,

 

The problem with the various CGUs is that Conforama has a large weighting.  For 1Q18 Conforama accounted for 21% of the Steinhoff revenue.  If they miss targets, it will affect the revenue.

 

However, from the previous trading updates, for the first 3 quarters of the FY18, there was almost no change in Conforama revenues. 

 

 Q3:18   Q3:17   Q2:18   Q2:17   Q1:18   Q1:17     Total H1   Total H1   Total 9M   Total 9M           restated   restated              30-Jun-17 31-Mar-18 31-Mar-17 31-Dec-17 31-Dec-16 31-Dec-15 31-Mar-18 31-Mar-17 30-Jun-18 30-Jun-17                 719                 720                 828                 810                   1 003                     1 011                      1 831                   1 821                   2 550                   2 541

 

I hope this comes out okay.  As I type this, the display looks fine, but I am aware people have complained that when you hit the "post" button the format is lost!

 

In case you do not get the proper picture, the variance measured between 1Q17 and 1Q18 (and repeating this for 2Q and 3Q is 0.35%.  I have omitted 4Q for obvious reasons.

 

The Conforama revenue is quite seasonal.  But, it would take a particularly poor performance from Conforama to result in a materially poor trading update.

 

Best Regards

Captainfrom82

[leo]

Captainfrom82, on 26 Feb 2019 - 3:47 PM, said:

Hi Tom,

 

My apologies for responding a week later.  I have written to you previously (5 Feb 2019 12h12) asking for the basis of your decision/judgement that Steinhoff is insolvent.  See below"

 

==========snip=========

Hi Tom,

 

I am uncertain if you appreciate the actual meaning of "bankrupt" or "insolvent".

 

For the record Steinhoff is neither bankrupt nor insolvent.

 

1. There has been no Court order compelling Steinhoff to settle a debt (which it has renegaded on).  So no bankruptcy!!

2. Insolvent refers to the position when a company's liabilities exceed its assets.  Have you looked through the Steinhoff financials in this regard?  Let me assist you. As at the most recent Statement of Financial position (issued 29 June 2018 for 1H18) Total Assets is € 19838m with Total Liabilities € 16045m.  So there is no insolvency by this definition.

 

The wider definition includes a position where a company is unable to pay it's debts.   I am not aware of any non-financial creditor or lender making a demand for payment that was rebuffed or led to a Court Action.  Therefore, this wider definition also does not apply. 

==========snip=============

 

Can you also please advise the source for your claim that "Steinhoff defaulted on paying 5% interest rate on their loans"? 

 

I am not aware of any default. 

 

I apologise if you have already provided the evidence and if I may have missed your post. 

 

Best Regards

Captainfrom82

 

Captain,

 

Go do your homework and don't believe everything on this thread... as most are invested.

 

Go through my historical posts, use it or don't.

[leo]

Good day if you long SNH today. 

 

Depending on what the share does on tradegate tonight, I'll repeat.

 

I do not want to keep an open position with CFDs , my view, the trading update will make the share price spike (slow poison thereafter), regardless of the real substance of the update. But IMPO, the PWC report will hurt it it's schedule to also come out sometime in the near future.

 

So I just take it day by day.

[Captainfrom82]

Tom, on 19 Feb 2019 - 2:27 PM, said:

Steinhoff management keep raving about the LAU and CVA (means insolvency), and they used to say it's taking their concentration away from the core business (and asked for a bonus for their so called efforts), but later changed this statement to (concentrating on both).

 

So if Steinhoff defaulted on paying 5% interest rate on their loans, when it had more business units, how will it now pay 10% on bigger loans while having smaller business after selling many business units.

 

Hi Tom,

 

My apologies for responding a week later.  I have written to you previously (5 Feb 2019 12h12) asking for the basis of your decision/judgement that Steinhoff is insolvent.  See below"

 

==========snip=========

Hi Tom,

 

I am uncertain if you appreciate the actual meaning of "bankrupt" or "insolvent".

 

For the record Steinhoff is neither bankrupt nor insolvent.

 

1. There has been no Court order compelling Steinhoff to settle a debt (which it has renegaded on).  So no bankruptcy!!

2. Insolvent refers to the position when a company's liabilities exceed its assets.  Have you looked through the Steinhoff financials in this regard?  Let me assist you. As at the most recent Statement of Financial position (issued 29 June 2018 for 1H18) Total Assets is € 19838m with Total Liabilities € 16045m.  So there is no insolvency by this definition.

 

The wider definition includes a position where a company is unable to pay it's debts.   I am not aware of any non-financial creditor or lender making a demand for payment that was rebuffed or led to a Court Action.  Therefore, this wider definition also does not apply. 

==========snip=============

 

Can you also please advise the source for your claim that "Steinhoff defaulted on paying 5% interest rate on their loans"? 

 

I am not aware of any default. 

 

I apologise if you have already provided the evidence and if I may have missed your post. 

 

Best Regards

Captainfrom82

[Captainfrom82]

seeking knowledge, on 25 Feb 2019 - 4:50 PM, said:

The stronger rand is affecting the lift. Should even out with time as the rand weakens. Christo Wiese knows more about this company than most and would not gamble with his money

Sent from my SM-J111F using Sharenet Sharechat mobile app

 

Hi SK,

 

1. Can you clarify why you believe that the stronger ZAR is affecting the lift?    Is it exaggerating the share price escalation, or is the share price moving up inspite of the ZAR strengthening?

 

Please note: Excluding POCO which stopped being consolidated and was accounted for as an equity investment (in keeping with the Court decision), last year Q1 ZAR revenue accounted for around 31%.   I doubt that thIs 31% enough to swing the share price materially?  From 31 Jan the ZAR has strengthened by ZAR 0.57 (or less than 5%).  

 

Regarding the Christo Wiese example  have no further comment other than to point out that the jury is still out on whether or not he is acquiring shares.  There are conflicting positions between the official Amsterdam share registers and the South African numbers. 

 

Best Regards

Captainfrom82

[DayTraderDad]

Interesting article:

 

There was no need for new news yesterday to boost the Steinhoff share significantly. Over the course of the day, the SDAX level exceeded technical benchmarks and peaked at € 0.1271 - the daily high was also the XETRA closing price, gaining 6.72 percent. Revenues in the paper were significantly buoyant, although the upward movement during the course of the day certainly also had a knock-on effect on high-risk short-term traders. Current indications for the Steinhoff share are quoted at € 0.130 / € 0.13 on Tuesday morning, indicating a continuation of yesterday's upward movement.

 

News is not to be seen this morning, but on the stock exchange a date on Thursday in the focus: On 28 February Steinhoff International wants to present quarterly figures. How extensive the data will be in the absence of previous balance sheets remains open. On the stock exchange one seems to rely on positively interpretable data and positions itself in advance.

 

 

Stock market turnover with Steinhoff stock starts

 

In addition, there are the above-mentioned technical buying signals for the Steinhoff share. Yesterday at the first attempt, the jump over the core resistance range at 0.124 / 0.125 euros not yet, the outbreak of this is now clear. Meanwhile, Steinhoff's share price is already on the way to the next trend-setting short-term signal mark, which extends in the chart of the paper at 0.134 / 0.136 euros. Here are two striking local highs from November and January, supplemented by earlier brands.

 

While the range around 0.124 / 0.125 euros for the Steinhoff share would now be the first technical support in the event of a setback, a stable break above 0.134 / 0.136 euros would equate to a strong bullish trading signal. In such a scenario, further hurdles would be found around 0.140 / 0.143 euros, but they are rather subordinate. It also remains to be seen which "force" can develop the quarterly figures of the group.

[Milo]

LarryK, on 26 Feb 2019 - 08:39 AM, said:

In what range is the resistance?

 

R 2.06 to R2.10

[DayTraderDad]

new john, on 26 Feb 2019 - 08:47 AM, said:

Released interim for December this morning

 

Avg daily value is 5.3M, 

 

Currently sitting at 175.4M

Thanks!

[new john]

DayTraderDad, on 26 Feb 2019 - 08:37 AM, said:

Why???

 

Released interim for December this morning

 

Avg daily value is 5.3M, 

 

Currently sitting at 175.4M

[LarryK]

In what range is the resistance?

[DayTraderDad]

Milo, on 26 Feb 2019 - 08:35 AM, said:

 

If Steinhoff can break through the resistance of the inverted head and shoulder neckline it is visitng at the moment it is going to be easy-peasy upwards.

 

Looking good!!

[DayTraderDad]

new john, on 26 Feb 2019 - 08:19 AM, said:

Keep an eye on SHP today guys. 

 

Why???

[Milo]

leo, on 26 Feb 2019 - 07:43 AM, said:

Up she goes!

 

If Steinhoff can break through the resistance of the inverted head and shoulder neckline it is visitng at the moment it is going to be easy-peasy upwards.

[new john]

Keep an eye on SHP today guys.