New Street: Telenet (Buy, €42, +26%) Q4 21 results: Higher capex outlook, but maintained cash return
Telenet has reported Q4 results and given its first guidance for 2022. Q4 results were fine, as is revenue and EBITDA guidance for 2022. Capex guidance though is higher than expected which is a drag on OpFCF.Telenet Group Holding is a holding company. Through its subsdiairies and its broadband network, Co. is engaged in the provision of cable television, including television services, broadband internet and telephony services to residential subscribers in Flanders and certain communes in Brussels as well as broadband internet, data and voice services in the business market throughout Belgium and parts of Luxembourg. In addition, Co. is engaged in the provision of mobile telephony services through a mobile virtual network operator partnership with Mobistar NV.
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