Downgraded perspectives on lower FY 2018 results (PALTEL)
Downgraded perspectives on lower FY 2018 resultsEPS CHANGE
CHANGE IN EPS2019 : JOD 0.51 vs 0.54 -5.06%
2020 : JOD 0.52 vs 0.56 -6.17%
Paltel closed the year 2018 on lower-than-expected results on the back of the increasing competition in the mobile sector, in addition to the negative FX impact. We have updated our model based on FY 2018 figures. Therefore, we have revised our FY 2019 and FY 2020 EPS downwards (-5.6% to JOD0.51, and -7.1% to JOD0.52, respectively). Thus, the EPS decrease stems from the downward adjustment of our revenues and EBITDA growth projections over the 2019-2021 period.
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