Wind Tre 4Q17 - Significant headwinds, further topline pressure is inevitable
Wind Tre posted weak 4Q17 results. Revenue declined by 12% to €1,556m (SRe: €1,642m) while EBITDA gave up 3.1% to €592m (SRe €588m), which is nevertheless a relative improvement vs. the previous quarter (-4.9% yoy).
Performance was particularly poor in mobile (80% of total revenue) and marked a continued deterioration vs. previous quarters (-15% yoy vs. -8% in 3q17, -4% in 2q17 and +0.6% in 1Q17).
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Spread Research is France's first Rating Agency, registered by ESMA (European Securities and Markets Authority) and a leading European Independent Credit Research firm, founded in 2004 and based in Lyon, France. Our experienced team offer key research services using a wide range of investment strategies and research methodologies for the High Yield, Emerging Markets, Convertibles and Loan Markets.
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