Edison Investment Research - 4iG Nyrt (4IG) 4iG - Record results; integration plan well under way

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Edison Investment Research

Richard Williamson

4iG - Record results; integration plan well under way

4iG’s H123 results reflect the inclusion of Vodafone Hungary (VH) since its acquisition on 31 January. Since then, 4iG has been working through its integration plan, which includes monetising the DIGI mobile network infrastructure and launching a strategic review to consider carve-out options and further asset optimisation (the scope is Hungarian fixed and Albanian/Montenegrin passive mobile infrastructure). After a multi-year series of telco and IT acquisitions in Hungary and the Western Balkans, 4iG is focused on realising revenue and cost synergies from the combined businesses.

05/09/2023 1 EN

Underlying

4iG Nyrt

4iG Nyrt. 4iG Nyrt, formerly Freesoft Szoftverfejleszto es Szamitatechnikai Szolgaltato Nyrt is a Hungary-based company engaged in providing software products and consultancy. The Company's activities include development and implementation of specific, custom-made software systems, document management, knowledge management, portal and collaboration applications, complex services for business needs in the areas of implementation, support and consultation, intranet- and Internet-based development, services, graphical and creative design, and consultation, design, development and implementation of mobile business applications, as well as operation, support, outsourcing, application service provision (ASP), application portfolio management (APM), hosting and other services. The Company has three subsidiaries: Axis Consuling 2000 Kft, BankSoft Kft and HUMANsoft Kft.

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HU0000167788 Budapest Stock Exchange Hungary

Provider

Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts

Richard Williamson

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4iG - Record results; integration plan well under way

WOOD Daily: G2M SS; CZG CP; MBR PW; CPS PW; TPE PW; ESLT IT; EXAE GA; MOH GA; 4IG HB

WOOD Daily: BDX PW (upgraded to BUY); HSBK LI; TEN PW; GEV CP; TITC GA; ALARABIA AB; EME Macro/Strategy; MBR PW

WOOD Daily: LPP PW; EEMEA Macro; TRESTATE GA; MOH GA; EUR PW; TXT PW; PL Macro; 11B PW; CDR PW; DIA PW; KRKG SV; MCOVB SS; HU Telecoms

Manx Financial Group - Termination of coverage

musicMagpie - Termination of coverage

Topps Tiles - Accelerating growth through Q125

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