Johan Steene intervjuas i Börsens Finest.:)
https://www.borskollen.se/podcasts/avsnitt-13-snabbast-pa-borsen
Tragiskt att detta svenska bolag med majoritet svenska ägare tvingas läsa rapporten på engelska för att steene & co fjäskar för några fiiina amerikanska aktieägare…vill steene försöka bli vd för spotify…?
Lyssna på confcallet i efterhand så blir ni lugnade, överreaktion.
Rapportkommentaren går nu att lyssna på om man missade confcallet under flik analys och längst ner, lyssna på q2(Avanza).Bör se ner tvåsiffrigt på måndag, men eftersom det är just Teqnion så ser vi väl det omvända...
Skönt att se att aktien inte riktigt kan gå på vatten i alla fall. Motiverad nedgång, även om den är i underkant. Runt 140kr mer rimligt.
Det viktigaste är att de inte sopar någonting under mattan utan känns fullkomligt ärliga. Det är rätt ovanligt management som kommer att betala sig.
Lite läsning kan väl ingå i sommarskolan, OK? Steene är kung juh! Kutar som tamahumara-indian.
På vilken McDonaldsrestaurang i världen har han skrivit VD-ordet?
Rapportkommentar måndag morgon kl 0808.:)
Q&A
You are welcome to ask us questions about the report and anything else you would like to know about Teqnion on Monday, July 21st at 08:08 CEST when we open a Teams meeting. We will be present on the screen with Johan Steene and Daniel Zhang.
Warmly welcome!
To participate, please press here or by the Teams meeting ID below.
Meeting ID: 319 020 637 833 1
Passcode: rt38AP3s
Send in questions to the Q&A session, e-mail: QAteqnion.se
Kan nån fråga vad han springer milen på…? Vill se en duel mot Skogman…men John pöjken är väl för feg att ställa upp…
Men Q rapporten ville jag också ha på svenska…Steene måste ju sluta fjäska för alla amerikaner…samt sluta fjäska för Eken…
Ett första tecken på förbättring är inte fortsatt ner.
Brukar normalt inte fästa vikt vid insider men nu verkar såväl Spiltan som Ek sugna på öka.
Själv klev jag ur. Mest för jag inte följt bolaget tillräckligt länge så de är svårt att koka ihop en hypotes om hur det ska utvecklas framåt. Även att jag tror mer på förvärv som har synergier med något befintligt bolag. Köper man ett bolag med 10 anställda så kanske man kan spara in på en ekonom/adminstratör för att ta ett enkelt exempel. De verkar göra en poäng av att bolagen inte har några synergier.
Har totalt gått -96 kr på aktien, så de får bokföras på lärokontot, snubb på
öresutjämningen.
Andra gör som dom vill. Kanske de vet mer. Själv så har jag dom bara på följlistan framöver
Ok rapport, det går så sakta åt rätt håll. Äger sedan ett tag , break even inte mer men ser det som ett bra långsiktigt innehav.
är nervös att deras kinesiska chef cio eller vad hans titel heter…snart kommer ta över som VD…kommer bli massa kinesiska bolag som köps upp o vips blivit ett kinesiskt investmentbolag…
Jack Ma..är han tillgänglig som VD…?
CEO Letter - Johan's thoughts
Hi Teqniåns,
The feeling is that anything I type down will mostly be a repetition of what I've already written here over the past year. We're working persistently to increase the group's earnings and as the numbers show we've got things to do. The improvements we've already implemented are clearly visible to us within the businesses, but they haven't yet filtered through into the figures. I'd like to point out that the reported positive result is largely affected by reversed earn-outs which should be disregarded. And yes, because we're driving major operational changes, we've also incurred temporarily weaker results, but writing those off as "adjustments" doesn't feel right. We've put ourselves in this position and we're getting ourselves out of it. With that in mind, that's how we should be evaluated. The free cash flow is weak this quarter, partly due to poor operating performance and somewhat higher tax payments. However, a significant reason for the low cash flow is the increased working capital tied up in finished goods inventory, as order intake has been strong in certain focus companies and that accounts receivable has also grown notably, which also points to the fact that our actions have triggered healthier sales. We still have plenty of initiatives to execute on and a lot to prove but I feel positive going into the second half of the year. This ingress may not be as fun as sprinkling in Disney references, but everything has its time. Now is the time to keep pushing progress with optimism and high ambitions.
Next level
I've been around since we founded Teqnion, when the idea was first sketched out over a dinner table, to where we are today with 36 operating companies and nineteen years of experience under our belt. At several points along the way we've hit developmental plateaus where we've had to rethink how we're organized and what tools we use to move forward and secure profitable growth. We've just been through another one of those phases. A larger Teqnion needs a different kind of organization and that's what we've been carving out over the spring. We're tightening up how we work and introducing clearer performance metrics to avoid ending up in a similarly weak position again. We now have a country manager in the UK and one will soon be appointed in Sweden. They will be responsible for ensuring that the subsidiaries in their respective markets are run sustainably, meaning good returns and solid cash flow generation. We've also put in place a defined escalation process when a subsidiary shows a downward trend. In those cases, corrective actions are launched immediately to reverse course. I wish we had come further in our restructuring of the group by now but turning whiteboard sketches into activities that deliver lasting value takes time. That said, we're well on our way and will come out of this downturn with stronger working methods and a more robust organization.
Rule of evolution
In a market that's too easy to operate in, there's a real risk that critical business capabilities start to erode. Simply because they're not clearly needed and so they stop being practiced. As I've mentioned before we've tolerated businesses that have relied too much on stable markets and "automatic" order inflow to deliver profit. One day a few weeks ago, Daniel Zhang drew a parallel between companies like that and the endangered kkp. A parrot that millions of years ago flew over the ocean ending up in New Zealand. It landed on these paradise islands with plenty of food, no mammals to compete with or get eaten by. The kkp grew big and happy and stopped flying. It didn't need to anymore. It shuffled around on the ground enjoying the good life. When it occasionally felt threatened by a bird of prey in the sky, its defense was to stand completely still so it wouldn't be spotted from above. Millions of years passed, all was well, until humans arrived with their cats and dogs. The kkp's defense, to freeze in place at the approach of danger, suddenly stopped working. And it had lost its skill to fly to safety. The future instantly became too harsh. Through this exotic tale of evolution, Daniel has formulated the rule: Don't become a kkp.
A quick recap… Why are we where we are? The market has shifted from favoring most companies in the group to becoming significantly weaker for many of us. We haven't followed up fast enough or applied pressure when trends turned negative. Costs haven't been adjusted to declining demand in time. We haven't been sharp enough in purchasing. We haven't pushed sales efforts or pricing hard enough. We've failed to coordinate improvement efforts effectively, too much focus on what we gain on the swings, while forgetting what we're losing on the carousel as we say here in Sweden. Much is addressed and more is in progress. I want the numbers to start reflecting that during the fall.
So please don't think we're doing nothing or that we don't know what we're doing. Know instead that we've done a lot, we're continuing to work relentlessly, and the effects are happening and will start to show over the next six months.
Run far, be nice!
Johan Steene
CEO and founder
Jävla lång utläggning från Steene…so please…vad är detta…please hit o dit…
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