Session 1: Medef, Ahlstrom and Lisi
InterAxS in partnership with Actio are pleased to invite you to our virtual conference series:
EUROPEAN SMIDs BEYOND LOCKDOWN
A series of afternoon sessions with some of the most interesting small cap equity stories in Europe. Management will introduce their business, and outline plans for the aftermath of lockdown
Session One: 2 June at 13:50pm UK
Companies will present for around 10 mins each, leaving around 20mins for Q&A.
13.50 - Introduction Max Casini, Actio
14.00 - Geoffroy Roux de Bezieux, Head of French employers' union
Geoffroy is the current Head of Medef, the French employers’ union, a post which positions him at the heart of discussions between business and Government. We are starting our series with a Q&A session with him, hoping to gain insights into the benefits and challenges of this unprecedented (in most of our lifetimes) state intervention across Europe. As is the norm for someone in his position, Geoffroy has been and still is a serial entrepreneur; his previous venture include JVs with Carphone Warehouse and Virgin Mobile for the French telecomms market; his main business interests now are in foodstuffs, mobility and leisure.
14.30 - Ahlstrom Munksjö, Hans Sohlström CEO, Juho Erkheikki Head of IR
Ahlstrom Munksjö has come a long way since its 19th century roots as a timber company. It now defines itself as “one of the world’s leading players in sustainable and innovative fiber solutions” and, as the world tries to wean itself off its dependency on plastic, one can’t help feeling that demand for these solutions can only grow. From biodegradable drinking straws, to fibre-based packaging tapes for all those Amazon boxes and compostable coffee capsules, Ahlstrom’s product line-up is increasingly in tune with the modern consumer’s demand for a more sustainable way of life. The company is still in the process of integrating major recent acquisitions, and higher interest charges have weighed on the bottom line, but free cash-flow for 2019 came in at close to 10% of the current market cap, an impressive result by anybody’s measure.
15.00 - Lisi, Emmanuel Viellard CEO
Lisi is one of the oldest industrial companies in Europe. Founded in the 18th century to manufacture metal wire and wood screws, it now supplies vast array of parts to the aerospace, healthcare and automotive industries. The latter has been a difficult industry in the last few years, but Lisi has proved highly resilient through the period, almost doubling free op cash-flow in 2019 to over €100m. That number is 12% of the current market cap and, while it may be a challenge for Emmanuel and his team to return the company to a run-rate of the sort in the near future, the firm has survived for a quarter of a millennium in a region (Alsace) which has seen more than its fair share of conflict over the years, so it is no stranger to plucking the flower of safety from the nettle of danger.
In view of current circumstances, we will not be charging for this event. However, if you have to pay under MiFID II, please let us know and we will invoice accordingly.
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