Report
Brian Han
EUR 101.80 For Business Accounts Only

The Game Getting Tougher but TPG Telecom Keen to Play a Different Game

TPG Telecom's ninth consecutive year of record underlying EPS, one that grew 12% in fiscal 2017 to AUD 0.48 and beat our estimate by 8%, is just a mirage in the rear-view mirror. We expect the margin-crunching impact of the National Broadband Network, or NBN, and the competitive intensity it has fostered to manifest in the group's earnings from fiscal 2018. Indeed, the change in industry dynamics is such that TPG rounds out the last of the three major domestic telecoms to rebase its dividends--a...
Underlying
TPG Telecom Limited

TPG Telecom is a telecommunications company based in Australia. Co. has three operating segments: Consumer, which provides retail telecommunications services to residential and small business customers; Corporate, which provides telecommunications services to corporate, government, and wholesale customers; and iiNet, which provides telecommunications and technology services to residential and business customers.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

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.

We have operations in 27 countries.

Analysts
Brian Han

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