Tele2 Reports Flat 1Q Revenue Growth, Though Better EBITDA Margins; Shares Still Overvalued
Tele2 reported first-quarter results, with stronger EBITDA margin improvement than we expected as the benefits of last year’s acquisition of Swedish cable operator Com Hem appear to be accruing faster than we anticipated. Tele2 reported revenue was flat on a pro forma basis, as if the Com Hem acquisition occurred at the beginning of 2018. We model actual results, which puts our revenue growth estimate at 24.5%, generating 2019 revenue in line with 2018’s pro forma result. While we expect to incr...Tele2 is engaged as a telecom operator. Co. provides mobile communication services, fixed broadband and telephony, data network services and content services. The mobile service comprises various types of subscriptions for residential and business customers as well as prepaid cards. Fixed broadband includes direct access, which is its own services based on access via copper cable and other forms of access, such as fibre networks, wireless broadband and metropolitan area networks. Fixed telephony includes resold products within fixed telephony. The product portfolio within resold fixed telephony consists of prefix telephony, pre-selection (dial the number without a prefix) and subscriptions.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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