NFON AG : Client growth halted in Q2 (positive for 2023 profits but not beyond)
>H1 2023: weaker growth and 2023 EBITDA guidance raised - NFON reported Q2 2023 sales of € 20.4m, up 3% y-o-y (below ODDO BHF at € 21m), of which 5% growth for service revenues – a pace broadly in line with Q1 2023. However, NFON also reported the loss of 5,000 seats in Q2 2023, which the company claims is due to its refocus on profits (marketing expenses are down 62% y-o-y in H1 2023, staff expenses -11%). The positive surprise is that NFON is now guiding for 20...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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