Upgrading outlook (PALTEL)
Upgrading outlookEPS CHANGE
CHANGE IN EPS2018 : JOD 0.58 vs 0.51 +13.4%
2019 : JOD 0.60 vs 0.53 +13.1%
Paltel’s ongoing efforts to strengthen its revenues and improve its operational efficiency are clearly visible. We have updated our model based on FY 2017 and Q1 2018 figures. Therefore, we have revised our FY 2018 and FY 2019 EPS upwards (+13.7% to JOD0.58, and +13.2% to JOD0.60, respectively). The increase of our 2018-2020 net profits is mainly attributable to the upward revision of our EBITDA margin forecasts (an EBITDA margin of 42.3% on average over the 2018-2020 period vs. 39.1% initially estimated).
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