WOOD Flash – 4iG: 3Q23 results and takeaways from the call
Yesterday (30 November), after the close, 4iG reported its 3Q23 results. We see the outcome of the results and the conference call as neutral. We note that the qoq EBITDA drop was driven by a strong base, fuelled by a one-off gain on the sale of certain elements of DIGI HU’s mobile network: the net impact of one-off items on the 2Q23 EBITDA stood at HUF 14.0bn. The miss vs. our forecasts reflected primarily the differences in holding costs and other operating income results vs. our figures, as we had based our assumptions on metrics distorted by one-offs. The miss on the bottom line was also driven by higher-than-expected net finance costs, boosted by FX losses.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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