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United Internet AG : Feedback from road show: many options in the regulatory fog

>Unjustified concern at the 2018 guidance despite net-adds - We went on a road show with United Internet’s CFO Frank Krause in Paris. We noted in particular the confident stance about the EBITDA guidance for United Internet and Drillisch even though the net-add target for telecoms was adjusted from 1.2m to 1m subscribers last May. Although the significant discounts for BLAU (Telefonica) have now been firmly established by their inclusion in the official price list, th...
Underlying
United Internet AG

United Internet AG is a Germany-based Internet service provider (ISP) and holding company of the United Internet Group. The Company's products and technical services are divided into two key segments. The Access segment comprises narrowband, broadband and mobile access subscriptions, including the corresponding applications. The Applications segment includes such applications as home pages, e-shops, Personal Information Management applications, group work, online storage and office software. The Application segment also includes the operations of the Company's brands Sedo and affilinet, which serve customers performance-based advertising and sales possibilities. The Company's brand portfolio also includes GMX, WEB.DE, 1&1, united-domains, Fasthosts and InterNetX. In addition, the Company develops Internet based applications, such as cloud applications. The Company acts primarily via its wholly owned subsidiary 1&1 Internet AG, and Sedo Holding AG, in which it holds a majority stake.

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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.

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