RE:Investors meeting this morning downtown Toronto Buggered123 wrote: Did anyone make it down? Care to share anything’s that were said.
Thanks
Nav explained how difficult the business is with the changing regulations, managing growth, too much supply, scandals etc... but that Supreme is well positioned.
There were a lot of questions from shareholders who were much more concerned about industry dynamics and company profile versus financial performance. These shareholders were also concerned about the amount and timeliness of disclosure. I found the discussion didn't yield any useful information.
There was one question talking about revenue guidance. Then a series of questions about returns, the super high YTM of the FIRE.DB at over 30% suggests that the company is in trouble which doesn't jive with the company also just getting a brand new bank facility with Bank of Montreal. Management did not think it was prudent to buy back converts given the current environment (regulatory and capital markets) but that management themselves might buy some.
That was about it. It's all about execution and getting to free cash flow now. Management expects to be able to pay for the converts out of cash flow so that means free cash flow has to turn positive soon.