April 29th, 2021 | 08:57 CEST
Deutsche Bank, Heidelberger Druck, Steinhoff International, Desert Gold - The turnaround is coming!
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Born in Munich, he first studied economics and graduated in business administration at the Ludwig-Maximilians-University in 1995. As he was involved with the stock market at a very early stage, he now has more than 30 years of experience in the capital markets.
Heidelberger Druck - Turnaround with good figures for fiscal year 2020
We have already mentioned Heidelberger Druck AG several times, now came the excellent figures! The resurgent demand, especially from China, has brought the Company from Wiesloch in the Corona fiscal year 2020/21 better results than expected. As the Company announced on Tuesday evening based on preliminary figures, its forecast exceeded sales and operating return.
Accordingly, sales between April 1, 2020 and March 31, 2021 were around EUR 1.91 billion, slightly more than initially expected in the best-case scenario. In the previous year, sales had amounted to a good EUR 2.3 billion. The operating result (EBITDA) reached around EUR 146 million, compared with EUR 102 million in the previous year. A significant upturn in the final quarter contributed to the excellent result, and the realignment now seems to be taking effect. Last spring, the printing press manufacturer announced that it would streamline its structures and eliminate loss-makers and non-core activities.
Following the key figures for the past financial year, analysts Warburg Research upgraded Heidelberger Druck from "Hold" to "Buy" and consistently raised the price target from EUR 1.50 to EUR 1.90. The Company's share price has now been raised to "Buy." We had already recommended the stock at around EUR 1.10 4 weeks ago.
Steinhoff International - Tiny hope for remaining shareholders
Things are not quite as sparkly at Steinhoff International Holdings NV. The scandal-ridden furniture giant is maneuvering through its insolvency, but creditor groups are still not in agreement on how to save what is left of the major group. Now a listing of European Pepco Groups on the Warsaw Stock Exchange is expected to help.
South Africa subsidiary Pepkor Holdings Ltd, which is also important, reported results for Q2 of its 2020/21 fiscal year ended March 31, 2021. After all, sales were up about 8% and that was in a Corona year. While group cash sales rose 10.7%, credit-financed sales fell a hefty 3.8% in the half-year period. Consumer credit is currently a problem in inflation-ridden South Africa, with credit ratings weakening.
However, the economic prosperity of Pepkor Holdings Ltd. is ultimately important to the approval of the settlement proposal. Because 50% of the present settlement of the approximately EUR 8 billion in disputed claims against Steinhoff is to be provided by the exchange of debt instruments for Pepkor shares. In addition, a further EUR 500 million or so in cash would be paid out at the end of the settlement. Of course, this will only work if the Pepkor shareholding is attractive enough for the victims of the accounting scandal.
Steinhoff has at least received the creditors' approval for the listing of the Pepco Group, which already brings another valuation to the table. The penny story remains exciting.
Desert Gold Ventures - Good news from Africa
With good news from Africa, the Canadian Desert Gold is now going up again. The Company was able to refinance extensively in 2020 and is able to continue its very promising SMSZ and Djimbala projects unhindered in 2021.
Five IP geophysical survey grids have now been completed in late 2020 and the first part of 2021. Data from four new grids were merged with data from four previous geophysical survey grids, covering 12 by 11 kilometers. The drill holes extended to a depth of 25 meters and two samples were collected in each hole. According to the test setup, samples from the drill program were then subjected to 24 hours of cyanide leaching in the bottle.
Jared Scharf, President and Chief Executive Officer of Desert Gold Ventures, commented, "The new auger results are extremely encouraging. Based on our previous work, we know that testing of laterite-covered gold-in-auger anomalies can lead to the discovery of new gold zones. Regionally, several major gold deposits, including Siou in Burkina Faso, Fekola in western Mali and Gounkoto, also in western Mali, were discoveries under shall laterite cover."
Desert is well on track with its program and surrounded by well-known mining operators such as B2 Gold, Barrick Gold and AngloAshanti in its 410-square-kilometer prospecting area. An asset deal could also be in the offing here in the future. Position yourself at CAD 0.20 - the entry point is very favorable.
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