NFON AG : A year of transition in a German market that is still not taking off
>Downward adjustment to our revenue estimates - We update our estimates for NFON, lowering our expectations for revenues (by 9-20% for revenues) but raising those for margins, which partly offsets the EBITDA impact. We now look for growth of 4-5% per year in revenues, at the low end of the target range for 2024 (5-10%) and in line with current commercial momentum (growth of 3-4% in the customer base, i.e. 20,000-30,000 new users per year, and slight growth in ARPU). N...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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