Report
Michael Roeg

(Sponsored) Triodos Bank - FY24 broadly in line, yet outlook is cooling

* The H2-24 results were broadly in line from top to bottom* No quantified guidance for FY25, yet comments in the press release suggest profitability will face pressure* We trim our earnings estimates for FY25 and beyond by low teens, and set our TP at EUR 30, Hold rating maintained
Underlying
TRIKOMSEL OKE TBK

Trikomsel Oke Tbk PT. PT Trikomsel Oke Tbk is an Indonesia-based company engaged in the retail distribution of telecommunication products. Its business is divided into cellular phones, reload voucher, and content and others segments. It offers products include cellular phones, accessories, spare parts, prepaid and post-paid reload vouchers, gadgets, mobile contents, and services particularly related to the telecommunication and multimedia industry. The Company sells mobile devices, including the products of Nokia, Sony Ericsson and Blackberry brands. Headquartered in Jakarta. Its subsidiaries are including Trikomsel Pte. Ltd., which is engaged in the sales and distribution of cellular phones located in Singapore, and PT Okeshop, which is engaged in the trading of multimedia devices, computers, cellular phones, accessories and spare parts.

Provider
Degroof Petercam
Degroof Petercam

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Analysts
Michael Roeg

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