NFON AG : End of margin expansion phase, now the search for growth
>Q3 2024 results solid financially - Q3 2024 service revenues were up 6% y-o-y to € 20.5m (ODDO BHF € 20.7m) driven by growth in customers (+3%) and ARPU (+2%). Q3 2024 adjusted EBITDA was up by 38% y-o-y to € 3.6m (ODDO BHF € 3m), helped by the leverage from revenue growth over stabilized costs. For 9M 2024, pro forma FCF improved from € 0.8m to € 2.7m (excluding the acquisition of AI company Botario for € 10m). In terms of good news, we note that:While customer...Nfon AG is a Germany-based company that provides cloud-based telephone systems. Its product and service offering includes primarily NFON Cloud Telephone System, a public multi-tenant PBX delivering servicing from the cloud, as well as specialist solutions. The Company's services enable communication for customers and their employees on various devices, including smartphones, tablets, personal computers, and desk phones. Its customers range from local small businesses to international large enterprises. The Company is active in various European countries, including Germany, Austria, Switzerland, the Netherlands, Poland, Hungary, the United Kingdom, Slovenia, Slovakia, Spain, Croatia, Romania and Portugal.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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