WOOD Flash – 4iG: 2Q23 results review – solid results distorted by business transformation
Yesterday (31 August), after the market closed, 4iG reported its 2Q23 results. The company reported a solid yoy expansion in sales, to HUF 151.1bn (up 107% yoy, 7% above our estimate), EBITDA, to HUF 59.0bn (up 265% yoy, 26% above our estimate), and net profit, to HUF 3.2bn (vs. our HUF 5.0bn net loss forecast). We see the outcome of the results as neutral, as the beat vs. our EBITDA and net profit forecasts was driven mainly by operating and financial one-offs related, in particular, to the sale of the DIGI HU mobile infrastructure and a FX gain on the loan obtained for the Vodafone acquisition.4iG Nyrt. 4iG Nyrt, formerly Freesoft Szoftverfejleszto es Szamitatechnikai Szolgaltato Nyrt is a Hungary-based company engaged in providing software products and consultancy. The Company's activities include development and implementation of specific, custom-made software systems, document management, knowledge management, portal and collaboration applications, complex services for business needs in the areas of implementation, support and consultation, intranet- and Internet-based development, services, graphical and creative design, and consultation, design, development and implementation of mobile business applications, as well as operation, support, outsourcing, application service provision (ASP), application portfolio management (APM), hosting and other services. The Company has three subsidiaries: Axis Consuling 2000 Kft, BankSoft Kft and HUMANsoft Kft.
WOOD & Company is the leading investment bank in Emerging Europe. Founded in 1991 and head-quartered in Prague, our footprint spans the region and touches investors around the globe.
A pioneer in Emerging Europe, WOOD executed many of the first CEE equity trades and landmark investment banking transactions. Our electronic trading platform was the first in the region, and remains the best. We are continually expanding our relevance and reach in these ever-evolving markets.
Our equity market share reflects our stature: 7% in Warsaw, 20% in Bucharest, 16% in Hungary, 40% in Prague and 5% in Vienna. Our distribution is unparalleled, with the largest salesforce in the region, servicing a uniquely diverse investor base.
We couple local expertise with a truly international perspective. With offices on the ground in the region, and in key financial hubs such as London and Milano, we are never far from our clients and we remain at the forefront of what’s afoot in the CEE emerging and frontier landscape.
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