Zegona (Buy, £8.15, +10%) Bonds: Overweight FY and Q1 results: Operating momentum improving
In a new reporting twist, Zegona has reported its FY25 and Q1 26 numbers simultaneously. Financial results are broadly in line with guidance and we still see good share price upside from decent operating momentum and closing the fibre JV process leading to a cleaned up shareholder structure.Zegona Communications is engaged in acquiring businesses in the European TMT sector with a 'Buy-Fix-Sell' strategy to deliver shareholder returns through fundamental business improvements. Co.'s first acquisition was the purchase of Telecable, the telecommunications operator in the Asturias region of Spain. Co.'s objectives include: executing a Buy-Fix-Sell strategy in the TMT sector; focusing on businesses that require active change and fundamental improvement to realize their full value; and targeting significant long term growth in shareholder value. Co. delivers value through a three step, Buy-Fix-Sell strategy.
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
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- Global Emerging Market Telecoms
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We provide debt research on:
- Pan European Telecom Services and Cable
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