Wednesday 4 May 2016

Eniro report Q1 2016

Eniro, Q1, 2016, front page

My second serious investment(?) mistake, Eniro, arrived with their report for this first quarter of 2016. I think that the share price dropped a little based on this report but, to be honest, I could not care less. If it drops in real values -3€ or -5€ I really do not care compared to the -95% loss that have already taken place on this very poor speculation. 

For the report in full please click here and for my previous summary please visit Eniro annual report 2015 or why not take a look at analysis of Eniro 2016.

Looking at the financial statement below then we can see that some effects have started to kick in a little. Yes, the revenue have kept dropping and that is seriously bad but the costs have also started to be under control and this I like to see. The operating income increased a lot compared to Q1 2015 and the debts have also been brought down since then. So at least they are trying to keep the boat afloat.

Eniro, Q1, 2016, financial statement

Conclusion: Eniro is still in trouble. In my eyes they are one impairment cost away from going belly up and if it does not... then the people profiting will be the current managers and board members and not the poor shareholders that actually had to endure it all. The biggest reason for why I keep it is to remind myself each quarter. Asian Bamboo is already slipping away from my memory, yes the rules established due to Asian Bamboo still remains but that is not enough for me. I need to see and feel the pain to not forget, to never forget, to always keep it fresh in my mind. Eniro gives me this... it gives it to me each quarter. So, yeah, I remain as a shareholder and I will keep carrying the loss not with pride but with a similar feeling to muscle ache... it hurts, but you know it does you well for the future so you keep doing it!

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