Freenet AG : Favourable EBITDA (3% higher than consensus) but growth still lacking
>Q1 revenues in line, underlying EBITDA 3% higher than forecast - Freenet reported its Q1 earnings yesterday evening. Revenues were stable and in line with forecasts at € 690m, while EBITDA (now reported without Sunrise) rose +11.5% to € 108m, i.e. 5% higher than the consensus (ODDO BHF and consensus: € 103m). When adjusted for the impact of IFRS 16, EBITDA dropped 0.3% to € 96.5m, i.e. 3% higher than forecast.For the first time since Q1 2012, the group posted a ...Freenet is a telecommunications provider in Germany. Co. provides its customers a portfolio of services and products, particularly in the field of mobile voice and data services. Co. does not operate its own network, but markets mobile communication services for the mobile network operators Telekom, Vodafone, E-Plus and O2 in Germany, under its own name and on its own account. Apart from its own network-independent postpaid, no-frills and prepaid services, Co. also provides the original network operators' tariffs. Co. operates within two segments: mobile communications and other/holding.
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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