NFON AG : H1 2018 results in line: recurring revenues up 29%, adj. EBITDA slightly positive, 2018 guidance reiterated and within reach
>Strong user expansion via wholesale partners Telefonica and Telekom - NFON AG reported H1 2018 results in line with expectations. Group sales were up 21.7% yoy to € 20.6m, in line with our estimate of € 20.8m and mainly driven by i/ a 30% increase in the number of active seats to 288.0k (Oddo BHFe: 289.2k, H1 2017: 221.5k), and ii/ the group’s increasing share of recurring revenues from 75.6 % to 79.9%. The H1 ARPU decreased only 2% yoy to € 10.05, slightly above our...Nfon AG is a Germany-based company that provides cloud-based telephone systems. Its product and service offering includes primarily NFON Cloud Telephone System, a public multi-tenant PBX delivering servicing from the cloud, as well as specialist solutions. The Company's services enable communication for customers and their employees on various devices, including smartphones, tablets, personal computers, and desk phones. Its customers range from local small businesses to international large enterprises. The Company is active in various European countries, including Germany, Austria, Switzerland, the Netherlands, Poland, Hungary, the United Kingdom, Slovenia, Slovakia, Spain, Croatia, Romania and Portugal.
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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