NFON AG : Q1 19 in line incl. first consolidation of DTS; Italian market entry underway, France to follow in June; FY guidance achievable; expansion in full swing
>Active seats expansion of +45% or +27%organic - NFON reported Q1 2019 results largely in line with our estimates and street expectations. Group revenue increased 21.2% yoy to € 12.1m, close to our estimate of € 12.2m. The main drivers were i/ a strong +45.1% yoy increase in the number of active seats to 391k including the first-time consolidation of DTS, which added c.50k active seats (organically the increase was +26.5% yoy or +6.3% qoq to 341k, in line our estimat...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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