EOH flirting with technical insolvency

[Jan]

EOH near technical insolvency

EOH is on the brink of technical insolvency, with its debt ratio at dangerously high levels and plummeting revenue.

This concerning situation was revealed in EOH’s financial results release for the year ended 31 July 2022.

 

[Sapphiron]

The executives and board members that got it in this state with corruption have long fled with the money.

Now the only thing left is the soon to be unemployed.

 

[_TrXtR_]

Aaaaaw, going to miss the days of big IT projects with lotsa sensitive data that forget to add a security layer.

 

[mpdjhb]

Chickens Home Roost

 

[DoringDraad]

One wonders what else they are willing to sell before they file for bankruptcy.
Firesale, everything must go..
sell sell sell...

 

[Kosmik]

Reminds me a lot of Dimension Data is the 2010+ years. Very similar outcomes.

 

[Jet-Fighter7700]

Reminds me a lot of Dimension Data is the 2010+ years. Very similar outcomes.

Dead cat didata, wonder if what happened to didata will happen to EOH and they get brought out by some big multinational.

 

[TofuMofu]

The executives and board members that got it in this state with corruption have long fled with the money.

Now the only thing left is the soon to be unemployed.

I went for an interview there a few years ago. So glad I did not get the job!

 

[animal531]

I'm an ex-employee and had an EOH LTIP vesting the other day, but the share price is worth nothing so after tax I received about 5 peanuts.

 

[d0b33]

People still trying to prop up this scam? let it die

 

[lotus123]

With all van Coller's virtue signalling and obsession with rooting out corruption, they seemed to forget to feed the revenue engine with compelling business solutions for customer growth. Without customers there is no business.

At this stage meaningful customer acquistion becomes almost impossible - no large company would risk their IT with a risky business that's bordering on insolvency.

I foresee a Gijima scenario here. Company hits rock bottom, entrepreneurs take over the running again (not sure if that describes Robert Gumede exactly) and then build a new business without flab or balance sheet engineering.

 

[Botha22]

Two years running there have been articles about Coller and his execs earning millions for "turning around EOH". Looks like all they did was gut the company to raise the cash flow to pay their inflated packages
e.g.

EOH employees furious about bonus trickery

Numerous EOH employees feel betrayed, saying the company did not stick to its bonus promises.

mybroadband.co.za

 

[TelkomUseless]

The executives and board members that got it in this state with corruption have long fled with the money.

Now the only thing left is the soon to be unemployed.

But corruption is a victimless crime

 

[r00igev@@r]

Whats the difference between a technical insolvency and a non-technical insolvency? Maybe the length of kakpapier required?

 

[WollieVerstege]

Whats the difference between a technical insolvency and a non-technical insolvency? Maybe the length of kakpapier required?

Same as the difference between a recession and a technical recession. Will wait to see the ANC's explanation on that one and apply it here.

 

[RonSwanson]

Chickens Home Roost

Those who foolishly sought power by riding the back of the tiger, ended up inside. -- John F Kennedy

 

[maumau]

Still haven't met anybody who knows what EOH stands for.

 

[DoringDraad]

Enterprise Outsourced Holdings.
Then someone went and said its EOH Holdings.
Then it became Enterprise Outsourced Holdings Holdings.
True story.

 

[DoringDraad]

p.s. I have heard other unofficial abbreviations..
End Of Happyness..
Entrance Of Hell..
The list goes on.

 

[R13...]

EOH near technical insolvency

EOH is on the brink of technical insolvency, with its debt ratio at dangerously high levels and plummeting revenue.

This concerning situation was revealed in EOH’s financial results release for the year ended 31 July 2022.

I thought they were saved by that Van Coller who got paid all the bonuses. Him and is execs.