Report
Thomas Coudry

ILIAD | BUY | EUR210 Deteriorated 2021 outlook

ILIAD | BUY | EUR210
Deteriorated 2021 outlook
Growth slowing down and France cash flow guidance downgrade
Modest KPIs across geographies
Underlying
Iliad

Iliad is an operator in the French internet access & telecommunications markets. Co. divides its operations into three business segments: Broadband, Traditional Telephony, and Retail Telecom. Broadband includes Internet service provider operations, hosting services, user assistance operations & operations related to the rollout of the FTTH (fiber-to-the-home) network. Traditional Telephony includes switched landline telephony (One.Tel and Iliad Telecom), directory services (mainly the ANNU reverse look-up directory accessible by Minitel, telephone, Internet and SMS text messaging) and e-commerce operations (Assunet.com). Retail Telecom offers various mobile phones & services to customers.

Provider
Bryan Garnier
Bryan Garnier

Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.

Analysts
Thomas Coudry

Other Reports on these Companies
Other Reports from Bryan Garnier

ResearchPool Subscriptions

Get the most out of your insights

Get in touch