New Street Research - LG Uplus (32640 KS) LG Uplus (Buy, TP: KRW 21,000, +110%) Q1 24 Quick Take: Better top line, but some pressure below EBITDA

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New Street Research

Chris Hoare

EUR 9190.00 For Business Accounts Only

LG Uplus (Buy, TP: KRW 21,000, +110%) Q1 24 Quick Take: Better top line, but some pressure below EBITDA

LG Uplus’ numbers improved from last quarter. Faster service revenue trend was led by improvements across the board, with continued strength in Enterprise. Bottom line was however weak off higher wage, D&A and interest costs. Our brief takeaway below.

09/05/2024 1 EN

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LG Uplus

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Chris Hoare

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LG Uplus (Buy, TP: KRW 21,000, +110%) Q1 24 Quick Take: Better top line, but some pressure below EBITDA

South Korean Telcos What could the telcos do to address the “Value-up” programme?

South Korean Telcos Takeaways from Meetings with the Korean Telcos in Seoul

Bible 1Q24 – Foundries: leading-edge strong; Trailing-edge correction playing out.

VEON (Buy, TP: $40, +55%) Thoughts after the call

Reddit (RDDT, Neutral, $54 target) Data licensing tracking our base case after OpenAI deal

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