MÃSMÓVIL: NEW AGREEMENT WITH ORANGE AND GUIDANCE UPGRADE (ANÃLISIS BANCO SABADELL)
New agreement with Orange (mobile & FttH network) & guidance upgrade. BUY.The company has announced it has closed a new agreement with ORA for both the mobile (improvement of its NRA, including 5G and extending it through 2028/2033) and FttH network (including an additional 5.2 M BU) and that it will generate € 40 M of OPEX savings (3.2% total). The group has also raised its EBITDA guidance for both 2019 (+3.3% and +3% vs. BS(e) and consensus) and for 2020 (+8.3% and+6.1% vs. BS(e) and consensus), and new estimates for 2021 of € 670/700 M (+15% vs. BS(e) and+11.5% vs. consensus). The company upgraded its CAPEX estimate by € 180 M for 2019/21 (€ 97 M in 2019) and kept its deleveraging forecast at around 3x NFD/EBITDA in 2020 and
Masmovil Ibercom SA, formerly World Wide Web Ibercom SA, is a Spain-based company primarily engaged in the telecommunication sector. The Company focuses on the sale and distribution services for Internet, Data Center and Telecommunications. The Company's product and services portfolio comprises Internet access through Asymmetric Digital Subscriber Line (ADSL) and Symmetric Digital Subscriber Line (SDSL) technologies, Internet domains and Domains Management and Registration Service through IberDNS application, Web hosting, virtual servers, dedicated servers, telephony services and routers. The Company also offers collocation services through two Internet Data Centers located in Madrid and San Sebastian. It operates through subsidiaries, such as Embou Nuevas Tecnologias SL and Ebesis Sistemas SL, among others. The Company owns a number of brand names, such as Pepephone, Yoigo and Llamaya.
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