habe IR mal ganz dreist gefragt, was die Aussage von Miss Sonn soll wegen restore shareholder value und wie das geschehen soll:
Thank you for your email. Significant progress has been made over the past year as detailed in the recent 9 month Trading Update - extract copied below.
Our progress during the current financial year has made it a productive period for Steinhoff, its employees and other stakeholders, as significant headway has been made on the journey to address past deficiencies, to restore trust in the Group, and to build a recovery in value for our stakeholders.
While many more tough miles lie ahead of us, we have maintained our momentum, achieving a number of critical objectives on our restructuring journey. We continued our essential effort to stabilise the Group, progressing the complex and technical work necessary to complete our financial restructuring, while also helping to enhance the long-term stability and growth prospects of our operating companies.
The result is that on 13 August 2019, having met all the necessary conditions, the Group was finally able to announce that it had successfully implemented the financial restructuring. This was the objective of a very substantial collective endeavour from teams both internal and external to the Group over a twenty-month period. Its achievement is a major milestone. Critically, it secures a period of financial stability for the Group until the end of 2021, during which we can restructure our businesses, dispose of assets to reduce debt to more manageable levels and/or restructure the debt as part of our plan to recover value for all our stakeholders.
As an investment holding company with a broad range of retail business investments, the Group’s operating companies give it well-diversified exposure to a number of strong local brands. Some of our individual businesses, such as Pepkor Africa and Pepkor Europe, continue to perform robustly. Others remain in a turnaround phase but are continuing to report more encouraging recent trends, such as both Mattress Firm and Conforama.
Achievements in the year-to-date
The Group has achieved a number of important milestones since the previous year-end:
• The demanding and complex task of finalising and publishing the Audited 2017 and 2018 Annual Reports was successfully achieved in May and
June 2019 respectively.
• The publication of the Unaudited 2019 Half-year Report in July 2019 eliminated the Company’s reporting backlog and the Company can now begin to normalise communications with the markets.
• The Steinhoff Europe AG (SEAG) and Steinhoff Finance Holdings GmbH (SFHG) CVAs were implemented with effect from 13 August 2019, securing a period of financial stability for the Group until 31 December 2021.
• A number of non-core businesses were disposed of.
• Operational funding has been secured in the majority of the operating companies.
• The Company gave a comprehensive update presentation to investors and the media on 13 August 2019, its first such event since the onset of the crisis in December 2017. A webcast of this presentation is available on the Group’s website www.steinhoffinternational.com.
• The 2019 AGM has been scheduled for 30 August 2019.
Subsequently both the AGM and EGM have been held and all resolutions proposed were approved. New auditors have been appointed and the Group is continuing to make progress along its strategic path.
Steinhoff Investor Relations