1&1 Drillisch : 2019 guidance below the consensus, uncertainty persists before the end of the auctions
>Q4 sales in line but EBITDA 4%< consensus and unexpected adjustment in fixed-line - Yesterday evening, 1&1 Drillisch reported Q4 revenues of € 943m, up +15% pro forma (IAS 18), i.e. broadly in line with expectations (Oddo BHF: € 933m, consensus € 935m). Over the full year, the € 3.662bn is broadly in line with guidance of around € 3.7bn. Whilst mobile net-adds were robust at +270k (consensus +281k) to reach 900k over the year, the group reported fixed subscriber num...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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