Netgem : Encouraging H1 for new consolidation but visibility still hazy for 2020
>H1 sales broadly in line, at € 15.4m (+18% y/y, -43% ex Vitis) - Netgem released half-yearlies before the opening bell today, which were broadly in line with our estimates. H1 sales rose 18% on a headline basis to € 15.4bn while net revenues (ex hardware) doubled y/y to € 13.1m, following consolidation of Vitis (net revenue -22% ex Vitis, which added € 7.9m). With the ongoing investing phase (-€ 2.4m), consolidation of Vitis resulted in adjusted EBIT of -€ 2.3m (vs. ...Netgem is a provider of Internet services through television. Co.'s solution enables businesses and communities to build one-to-one Web-based relationships with their customers and members by providing access to online services. Co.'s technology operates on a Linux-based open software platform and a thin-client access device. Co.'s Netgem Solution is available for standard telephone connection at 56kbs, ISDN lines, Ethernet connection (ADSL modems) and broadband cable (DOCSIS standard) Co. offers the Netbox, which transforms every television set into an Internet-enriched television using only a standard telephone connection.
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