Freenet AG : Good Q3 2024 trends and waiting for 2028 FCF guidance
>EBITDA acceleration in Q3 thanks to new Telefonica contract - Q3 2024 revenues are down 8% y-o-y to € 619m in line with expectations (css € 619m, ODDO BHF € 630m), or 2.1% pro forma of the Gravis store sale. Growth remains driven by TV (+15% y-o-y), with waipu.tv making ~90% of group growth. Q3 2024 EBITDA is up 5% y-o-y at € 128m or 1% above the consensus € 126m (ODDO BHF € 122m); this is an acceleration compared to Q2 2024 (0.5%) thanks to lower marketing expense...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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