DIGI - Robust delivery but no extra shareholder remuneration
DIGI reported its FY preliminary results with adj. EBITDA arrived to EUR 525m (+9.3% y-o-y) and
above our FY estimates of EUR 511m. FY profit was EUR 73m implying a 11x P/E’21.
Key positives:
1. RGU was growth maintained (+13% y-o-y; +2% q-o-q) (Spain +39% y-o-y;
Romania +10% y-o-y)
2. Roughly 60 investor participated in the call meaning large interest for the
extra shareholder remuneration
3. DIGI is valued at 3.2x EV/EBITDA’21 based on the latest fin. Figures.
Extremely cheap.
Key negatives:
1. DIGI did not communicated whether they would like to share from the
proceeds. Firstly they would like to draw up the Portugal capex plan, then
comes the decision on dividend.
Concorde Securities Ltd. is Hungary’s leading independent company engaged in investment banking activities. It provides its clients with integrated financial services, including securities trading, research, corporate financing advisory, capital market transactions, wealth management and investment advisory. The operational management of the company is the responsibility of the CEO, while the owners/managers (who control one-third of the company through their shares and options) are in charge of its strategic governance. Concorde Securities Ltd. is a member of the Budapest, Frankfurt, Warsaw and Bucharest stock exchanges, as well as of the Hungarian Association of Investment Service Providers.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.