Digi - Strong growth continues
DIGI’s net profit arrived to EUR 34 million (+132 y-o-y) and its EBITDA to EUR 129 million (+16% y-o-y) in line
with expectation. Our forecast for FY profit and EBITDA stand at EUR 97 m and EUR 511 m, while H1 profit and
EBITDA reached EUR 49m and EUR 251 m respectively.
Key positives:
1. RGU growth maintained (+13% y-o-y; +5% q-o-q) reached the highest quarterly
additions (+772k) – see our charts below.
Key negatives:
1. RGU declined in Hungary (-2% q-o-q) implying that HU mgmt’s focus has shifted to
the due diligence because of the potential sale.
2. Spain’s growth came at the expense of EBITDA margin 14% vs 15% a quarter ago.
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.
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