NFON AG : Still soft commercial momentum
>Slowdown in growth - In Q1 2024, sales were up 2.2% vs Q1 2023 at € 21m (consensus € 21m, ODDO BHF € 22m), of which services revenues of € 20m (2.8%) driven by 2% growth in the client base. The growth rate is still weak.For 2024, NFON has confirmed its targets with a single-digit growth rate for recurring sales corresponding to a 90% share in total sales (we forecast total sales in line with the consensus, i.e. +5% at € 87m), and forecasts growth of 20-40% of ad...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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