United Internet AG : Results in line and cautious guidance, uncertainty surrounding telecoms
>Q4 and FY results broadly in line, weakness of applications - Yesterday, United Internet reported Q4 2018 sales of € 1.315bn, up +9.8% but 2% lower than forecast (Oddo BHF: € 1.334bn; consensus: € 1.346bn). Full-year growth came to 22%, of which 10.1% like-for-like (Drillisch and Strato). Group EBITDA came to € 327m, i.e. € 1.201bn in 2018, fully in line with forecasts and the guidance.Revenues in the access segment rose 15.4% in Q4 to € 1.061bn, in line with fo...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.
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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