Pescanovaの元社長のManuel Fernandez de Sousaの面談記事、独裁経営者の厚顔発話。
MANUEL FERNÁNDEZ DE SOUSA / Presidente de Pescanova
“Pescanova ha superado momentos mucho más difíciles que el actual”
Miguel Jiménez / Cristina Delgado Madrid 24 MAY 2013 - 00:00 CET
Manuel Fernández de Sousa, presidente de Pescanova / Uly Martín
MANUEL FERNANDEZ DE SOUSA / President of Pescanova
"Pescanova has overcome much more difficult time than the present"
Miguel Jimenez / Cristina Delgado Madrid 24 MAY 2013 - 00:00 CET
Manuel Fernández de Sousa (Merida, 1951), president of Pescanova, yesterday broke a silence that prevailed over the past three months, when the crisis of his company jumped into the open. He decided to face the day in which he was accused by the suspicion that falsified the company's accounts and used privileged information. Ensures that justice is not afraid because he has the moral quiet. Criticizes the work of BDO and even the National Commission on the Securities Market. And all this, despite not hide that withheld information to shareholders. Nor that their accounts sometimes used other than those established criteria. However, he believes that everything is justified for the same reason: "Everything I've done has been for the good of the company."
Question. Why would a company that seemed solvent preconcurso asked the overnight?
Answer. Our plan was to get Exchange active part of Chile before year end. Could not be. We decided that we could sell one of the salmon farming areas because outclassed the rest and our production goals. There were several interested companies. In February I was negotiating with Marine Harvest and practically closed the sale. Salmon prices had gone up. And we decided to order some more money. Was suspended. We had almost made this operation. But we could not fulfill the plan of disinvestment. We had serious problems of short-term financing. And that's what we communicate on February 28, that were selling fast or assets or had problems to continue running the business and to file preconcurso creditors to renegotiate the debt. With the sale would have solved all the problems. There could be and had to make a decision. A company like Pescanova to 1,700 million euros bill needs at least 1,700 million euros of capital in this sector to operate.
P. Only mentioned problems and credit cash. But you also ultimately conceded it had "accounting discrepancies". Do you have hidden debt or losses?
R. It's all in the accounting Pescanova.
P. Is not there a B accounts?
R. No, there is not.
P. Is there a debt greater than what was reported?
R. Debt depends on how you have reflected. It depends on if you have it with or without recourse, of if you have deposits ... there are things that change the debt profile. That's what I mean when I say to the CNMV that there is a significant discrepancy in the accounts. All had been assessed using the same criteria for years, and always BDO okayed. But at a time when issues of discrepancies was whether or not the appeal should be reflected. We hear a lot of debt. From what little is said is the value of the company. What matters is whether the assets supporting the debt value. And the business value is there. Fishing rights, the brand ... that are values.
The accounts are all set. There is no accounting B "
P. And those values are in your books?
R. Yes, but what is its real value? It is as if tomorrow a mining company is an oil field. In his books will put almost zero. But if you sell it to another company for several million, then the points in their books with a specific value. Accounting penalizes cases like ours, because we could activate the R & D and investment in aquaculture projects, but we have been spending. Our brand Pescanova books is zero. Fishing quotas are zero. And so many things. But its intrinsic value is there.
P. Have appeared about 100 financial institutions that are owed to more than 3,000 million euros. In the balance was less than 1,000 billion recorded
R. Were all recorded. The question is it depends on how they were reflected. Matrix Pescanova debt, which is what is insolvent, is 2,314 million euros, of which 369 million are convertible bonds. According to the central bank risks Spain (CIRBE), which can access the entities and the CNMV, the debt is more than 360 million 1,970 million of convertible bonds. Almost the same figure. And both have always been public figures. Consolidated debt is higher, because the affiliates also have additional debt. Those accounts now have the CNMV. But most of it is in the womb.
P. In the accounts of the CNMV September 2012 pointed a debt much lower than it has now ...
R. The September financial debt accounting guidance which were not correct. But if you hire someone like BDO, which hope is that if he is wrong will help you avoid mistakes. But both BDO and the CNMV had access to CIRBE.
P. Shareholders do not have access to that information.
R. Really in presentations to investors what is valued is the ability to create value, EBITDA. And our projects have.
P. But shareholders were told they had 1.522 million debt ...
If no falsehood in numbers should be charged to the CNMV and BDO "
R. In accounting is all about. Presenting a balance can be varied in many ways. If you have non-recourse factoring is no longer in debt. If you discount without recourse, either you have to get. If you talk of net financial debt and have deposits, then lower your financial debt ... That's what causes the certain layouts can do.
P. The CNMV and forensic auditor investigate if they have used false invoices. Is it used?
R. Still not forensic auditor's report, but it is not.
P. Judge Ruz has been cited as accused for possible accounting fraud. What do you think?
R. The judge does is admit the report of the Office, which was already known. If an accounting fraud should be imputed BDO, the auditor.
P. Do you not?
R. The lawsuit is also against me. But that will become clear in justice. Actually the car goes on the line to investigate whether the sale of shares was improper or criminal situation of a number of shareholders. For if we talk about accounting fraud, should be imputed to BDO or the CNMV, which had all the data.
P. Did you know that there BDO all those debts?
R. Their reports were not qualified for 10 years.
P. If you believe that there was no distortion, unless you admit the error occurred?
R. There was no distortion, therefore, if it is incorrect, would fail. But it was all in the accounting and all had access to everything.
P. Why not reported the sale of its shares to the CNMV as the law?
R. One when sold, may do so for two reasons: because they believe in the company or because they believe, need to, because he needs. My case is the second. If I had not believed in Pescanova or in your project, and I had sold all gone. I neither resigned nor left. I remain the majority shareholder. And destiné some of the money to provide liquidity to the company.
P. He managed 32 million and spent less than 10 to the company. What happened to the rest?
I have no fear of being dishonest with my morals "
R. Destiné the part I was. Because unfortunately I had liquidity problems and meet financial obligations
P. Why not report the sale to the CNMV?
R. Before that, I would like to explain what information is relevant is the one I had: they were raising prices of salmon, shrimp, turbot ...
P. That is public information.
R. That is information that I used in February. What I know is what prices were rising very significantly. And when you sell with price increases of 30%, not because he wants to sell. Sell because it takes. Pescanova not only feasible: it will succeed and will be much more profitable because the investments already made.
P. But you also knew that the company had serious liquidity problems ...
R. It was if we sold the salmon. And indeed, I was almost sold. And with these projects working in this way would also obviously EBITDA expectations much better than originally planned. I'm late in notifying the CNMV and I did in my prejudice, because in the end I reported myself, and with great detail ...
P. When the CNMV and he was investigating ...
R. I would have had to communicate well. It's something that hurts me, I could have have done in January or February, I would not have been better because the problems that I have now. But the company would have been worse. Sometimes you have to opt for the sacrifice. Who might benefit from that I delayed in communicating? For only Pescanova. I had no doubt that we went on. And if not, I would have been much easier to resign, sell my shares and avoid giving explanations
P. Maybe it was good for the company, but it was for the shareholders?
R. We suggest the February 28, when we speak of preconcurso, that trading remained suspended. Was suspended but 24 hours later he got up. Why CNMV lifted the suspension in 24 hours? What has changed in 24 hours? That was followed by a period of seven days of high volatility, with falls that forced the funds to sell to stop losses. We would not have had if the CNMV had not done so. Many funds probably would not have sold, but there was confusion. It was a big mistake by the CNMV.
P. The director Jesus Garcia, a very close and has worked a lifetime in the business, has resigned because he says he has lost confidence in you. What do you think?
R. In the defense strategy of each director and each one, sometimes you say things ... But I'm willing to accept criticism of anyone who believes that has reason to criticize.
I have dedicated my life, my family and my heritage to the company "
P. The CNMV also suspected of hiding losses.
R. How much is Pescanova? How much have we created? What we have created are obviously benefits. Pescanova? Worth more than 4,000 million euros? The worth. These years we have generated a very large value growth.
P. But earning money or not?
R. The assets supporting all liabilities. And if not, we all would like to buy all. There are lots of people interested. We created this benefit, that value.
P. Are you afraid to go to jail?
R. I started in 76. During the 37 years of my life dedicated to Pescanova I've made mistakes and failures. Pescanova has lived most difficult moments this, and overcomes: I lived races that had no projects, when the UN extended exclusive economic zone exploitation of marine resources within 200 miles and stayed out of places to go fishing in 1982, at the beginning of the 90 live brutal devaluation of the peseta that even Argentina has suffered ... There have been failures. But our successes have been higher. Because Pescanova project never had a better armed than it does now. I have dedicated my life, I sacrificed my family, my heritage ... And I tell you more: I have ventured perhaps without knowing I could have funding problems have come after. I have no fear of not being honest with my morale, because I've always done the best for a company that today has 11,000 employees. We generated wealth where none existed, and everyone has always claimed their payrolls.
P. Do you think the company will save in the hands of Deloitte?
R. What I think is that in Spain, in all competitions volunteers, there is an intervention system. And in a competition necessary, the board disappears. But in our situation was decreed something that is neither one thing nor the other. And that's atypical. Especially with something as complex as this. It is complex for Deloitte and for anyone. But that said, I am concerned that the first Pescanova succeed because I have sacrificed everything for her. So I'm working. Because do not forget that I'm still the largest shareholder of the company.
P. Did you press a company that provides services to Pescanova to dismiss the husband of a Expansion journalist who had published at your company?
R. No. It would have to be crazy, right? I'll tell you more: I came to offer her be Pescanova press officer. And they offered him to be reinstated. All he asked is that if she was writing Pescanova him Pescanova issues not intervene. But in the end, as is my word against the other, if I want to believe, what I'm gonna do.
0 件のコメント:
コメントを投稿