Drillisch is a holding company. Co. through its subsidiaries, is a mobile virtual network operator in Germany. The services acquired from the network operators Telekom Deutschland GmbH, Vodafone D2 GmbH, E-Plus Mobilfunk GmbH and Telefonica O2 Germany GmbH & Co. OHG are sold further to the end consumers for Co.'s own account and at rates established by Co. Co. organizes its operations into three segments: telecommunications, which includes its activities in the sector of wireless services; freenet holding, which comprises the operations of its freenet AG subsidiary; and software services, which involves activities related to the development and marketing of a workflow management software.
Deutsche Telekom is engaged in the telecommunications services and information technology sectors. Co. operates as an integrated telecommunications provider. It is organized into four operating segments: Germany, Europe, and the United States; and Systems Solutions, as well as Group Headquarters and Shared Services. Co. provides fixed-network lines, broadband lines and mobile communications. Co. also provides customized Information and Communication Technology (ICT) solutions for corporate customers under the T-Systems brand. The Group Headquarters and Shared Services segment comprises cross-segment management functions, real estate services, and mobility solutions, among others.
Telefonica Deutschland Holding is a telecommunication company. Co. offers its consumer retail and business customers postpaid and prepaid wireless communications products, along with wireless data services using Global Packet Radio Service, Universal Mobile Telecommunications System and Long Term Evolution technology as well as Digital Subscriber Line wireline telephony and high-speed internet services. Co. markets its products and its wireless and wireline communications products as well as services via the core brand O2. Co.'s secondary brands include the brands Fonic and netzclub. Co. also markets high-speed DSL internet access and wireline telephony.
Telefonica is engaged in the provision of public or private telecommunications services, including ancillary or complementary telecommunications services or related services. Co.'s fixed business includes: traditional fixed telecommunication services, Internet and broadband multimedia services, data and business-aplications services, and wholesale services for telecommunication operators. Co. also provides a range of mobile and related services and products to consumer and business customers, including mobile voice services, value added services, mobile data and Internet services, wholesale services, corporate services, roaming, fixed wireless, and, trunking and paging.
Provided by our team of experienced analysts, our work is idea driven, based on independence of thought, sector expertise, and firmly focussed on fundamentals and valuation.
New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:
We provide debt research on:
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: IBERDROLA, SANTANDER, SECTOR BANCARIO ESPAÑA, TELEFÓNICA. EUROPA: ENI, PROSUS, SECTOR BANCARIO EUROPA. El Ibex continuó siendo el mejor de Europa En una jornada de escasas referencias macroeconómicas y de más a menos (a pesar de los estrechamientos de las rentabilidades soberanas), la mayoría de los índices de la Eurozona cerró con pérdidas moderadas a excepción del Ibex que terminó plano. En el STOXX 600 la mayoría de los sectores cerró con pérdidas, lideradas por Viajes&Ocio y Químicas frente al mejor comportamiento relativo de Inmobiliario y ...
NEWS SUMMARY: BANKING SECTOR, IBERDROLA, SANTANDER, TELEFÓNICA. The IBEX continues to be the best performer in Europe In a session of scant macro releases that ended worse than it began (despite the strong tightening in sovereign debt yields), most European indices closed with moderate losses, except for the IBEX, which ended flat. Thus, in the STOXX 600 most sectors closed with losses, led by Travel & Leisure and Chemicals, with the best performers being Real Estate and Utilities. From the ECB, Muller suggested there will be no more rate hikes, whereas Lagarde warned that in its upcoming me...
After the H1 results and the stock going ex-dividend last week, we publish our new model and in this note we review our thesis. Given the impact of both of these issues, we lower our fair value from 150p to 140p (4p from ex-dividend and 6p from forecast changes), but see no real change to our core thesis, ie an improving regulatory environment across Europe should help all telecoms names including Vodafone, and while there is a clear headwind ahead from German cable TV losses, there are also tailwinds from energy and the 1&1 contract.
Tower Bersama reported a better result today, as ARP/Tenant growth inflected, following last two quarters of decline. Despite being more exposed to the Towers business, which is impacted by the Indosat’s network reconfiguration, Towers revenue performed better than Protelindo (+3.4% YoY vs -3.3%). Given the near-term weakness in the Tower space, as well as concerns over its shares liquidity, we remain Neutral at IDR 2,200.
This note (very belatedly) focuses on changes to the model following 3Q23 results. On the day of results, we published a review of results and additional thoughts following the earnings call. Our net adds are nearly unchanged, but we have lowered revenue and EBITDA for 4Q23. Our long term thesis remains unchanged. Price target increased to $57.
Unfortunately, this report is not available for the investor type or country you selected.Browse all ResearchPool reports
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.