NFON AG : Progress in Q3 2023, but there is still a long way to go
>The positive points in Q3 2023: margins, return to customer growth - The group’s sales and EBITDA beat our forecasts by 1-2%. Sales came to € 20.4m (vs ODDO BHF € 20.3m) and adjusted EBITDA to € 2.6m (vs ODDO BHF € 2.5m).NFON remains in line with its target of 5-10% growth in sales in 2023, although it is at the lower end of the range as expected, and is ahead of its previous EBITDA guidance of € 6-7m (vs € 6m in 9M 2023). We nonetheless expect slightly higher c...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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