Euroland forum : flash recap of the meetings with the companies met
Showroomprivé.com, Focus Home Interactive, Infotel, Precia, Genoway, Streamwide, Bourse Direct
Here is a flash recap following the meetings I had with the companies.
Showroomprivée.com (online selling of clothes… in competition with Veepee)
Completely rebuilt the marketing team and management team.
Know they are behind Veepee.com (Vente privée.com) and are not yet best in class.
Consumers are hit by inflation. The company manages to get them to spend as much as before but it requires more efforts from them
Everything has been put in place to go forward
Carrefour is a passive shareholder
Focus Home Interative (video game producer)
Atlas Fallen game: we have dispatched a task force to relaunch the game in 6 months
Banishers Ghost of New Eden game: will be on the market in february 2024. The game is ready but there was too much competition in november 2023 from AAA games.
Strategy is to be the IP owner.
Infotel (IT Consulting and software)
Their 2nd and one of their oldest clients (representing 10% of their sales) initially announced that they would be cutting IT spending. Seems that things are not that straight forward and cuts are not that big. Time will tell.
Lots of banking clients.
Software BU is small (10 M€ in sales)but very profitable.
Lots of mathematicians who build algorhytms which are greatly appreciated by clients.
Their area of expertise if the development of solutions and not in the production
Precia (weighing equipement and services)
CEO is clearly focusing on productivity and profitability
Genoway (Mouse, rat and cell engineering)
New partnership in China which is based on JV seems the way to go to serve the Chinese market. Partner is putting a big chunk of his money in the JV and Genoway is bringing it’s expertise.
Streamwide (communication software technologies)
Their offering enables them to have a value proposition based on having a sovereign offer (data doesn’t go back to the USA) and it is what distinguishes them from the competition.
Bourse Direct (online broker)
Very humble management
Are benefitting from the raise of interest rates (they have lots of deposits from their individual clients)
Volatility is required so that their brokerage offering has lots of volumes
Developing a savings offering will help to have recurring revenues.
As always I as impressed by some management teams and disappointed by others.
Of course I will be doing a much more in depth feedback for my paid subscribers on the most interesting companies and opportunities.
In the meantime, thanks again for signing up and feel free to talk to your friends / fellow investors about the French Hidden Champions Substack. You can also reach out by email or by DM on Twitter @FoxCastlehold
Cheers!
Jeremy
The above article constitutes the authors’ personal views and is for entertainment purposes only. It is not to be construed as financial advice in any shape or form. Please do your own research and seek your own advice from a qualified financial advisor. The author may from time to time hold positions in the aforementioned stocks consistent with the views and opinions expressed in this article. Disclosure – I hold a position in Precia and Genoway at the time of publishing this article (this is a disclosure and NOT A RECOMMENDATION).