Freenet AG : 5% ahead of expectations in Q1 2022 and reassuring after the fall in the share price
>Robust EBITDA growth of 8.5% - Freenet reported 8.5% growth in EBITDA to € 118m (above the € 112m consensus). However, revenue growth was weak at -0.4% year-on-year (vs +0.7% in Q4), including -0.8% in mobile (i.e. +1% excluding the drop in equipment sales) and +6% in media (26% growth in customers on the "waipu.tv" pay-TV offer and in radio broadcasting). EBITDA growth reflects scale effects in the media business and the decline in doubtful client receivables in mob...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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