Report
Markus Schmitt

Techem : Techem remains a great, yet pricey asset

Revenues increased by 0.2% to € 768m in FY 19 (March 2019; FY 18: € 766m) on the back of solid energy services revenue growth in Germany (+1.6%), partly offset by a decline, albeit phasing out now, in energy service revenues abroad (–6.5%), due to lower equipment sales in Italy. The churn rate is said to be well below 5%, according to management, and radio-metering is gradually increasing, reducing labour intensity. - Adjusted EBITDA grew by 1.3% to € 384.0m in FY 19 (FY 18: € 379....
Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Markus Schmitt

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