New Street Research - ALTICE FRANCE SA/FRANCE (SFR) New Street: Altice France Q1 21: Fixed SR growth impressive; market repair actions/words from operators

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New Street Research

Russell Waller

New Street: Altice France Q1 21: Fixed SR growth impressive; market repair actions/words from operators

All the French operators have now reported, with Altice France and Bouygues reporting today. We look at the Altice France results in more detail in this report, and show a summary of market trends as well.

20/05/2021 10 EN

Underlying

ALTICE FRANCE SA/FRANCE

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New Street Research

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:

Pan European Telecom Services and Cable
US Telecoms, Cable, Satellite and Towers
Global Emerging Market Telecoms
Japan Telecoms
Asian Internet
Pan European Healthcare
Global healthcare thematic research

We provide debt research on:

Pan European Telecom Services and Cable

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Analysts

Russell Waller

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New Street: Altice France Q1 21: Fixed SR growth impressive; market repair actions/words from operators

Altice France (SFR) (Overweight) Altice International (Equal Weight) Altice update: M&A in France and possible Israel sale

Altice France (Most preferred) xpFibre ReCap and potential stake sale - our take on recent TMT article

Altice France (Most Preferred) Our take on the latest reported offers

TeleColumbus Q4 results and 2025 outlook – Bullish thesis intact

Odido (T-Mobile NL) (Equal Weight) Q4 24: Good cost control and operational gearing; IPO still possible in 2025

US Internet: What we know (and don’t know) about China/de minimis advertiser exposure

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