reports
- James Ratzer
- Felix Fischer
- Haidje Rustau
- Ian Wong
- Jayanth Kandalam
- Peter Low
- Si Yong Ng
- Tanvi Arora
Lucror Analytics - Morning Views Europe
In today's Morning Views publication we comment on developments of the following high yield issuers: Engineering Group, PeopleCert, The Very Group, McLaren, Versuni (formerly Philips Domestic Appliances), Eircom, Tele Columbus, Arrow Global, Forgital, Grunenthal, Standard Profil, Ithaca Energy, Cerba, Clarios, NewDay, Alain Afflelou, Intrum, Flos B&B Italia (formerly International Design Group)
- Ben Rickett
- James Ratzer
TeleColumbus: Deep-dive review Increased conviction in credit upside
We have recently spent a fair amount of time with the TeleColumbus CEO/ CFO to review our longer-term thinking on the business model and we materially increase our value of the business from prior estimates. We come away with the conclusion that the market price on the debt is wrong and believe this is one of the most attractive credit opportunities in Europe at the moment.
- James Ratzer
TeleColumbus Q2 24: Growth drivers on track, but at a slightly higher...
2024 is very much a transition year for TeleColumbus in their TV base, but importantly the core Internet franchise growth remains very strong – and well ahead of Vodafone’s growth rates. This, alongside developments on NetCo/ OpCo we think can be further upside for the bonds, but in the near-term, the cost of managing this transition in 2024 will be slightly more expensive than initially assumed.
- James Ratzer
- James Ratzer
German spectrum auction Evidence of pragmatic telecoms regulation
BNetzA’s latest proposal for the German spectrum auction might well now be close to the final outcome, and delays the uncertainty of an auction and potential large cash outflows until 2030 for all German operators. This seems a further example of pragmatic regulation in the European telecoms sector.
- Russell Waller
European Telecoms High Yield review Setting out our key preferences
We published our Global High Yield Quarterly this week – HERE. For a European perspective, we provide a summary of our thoughts and ideas on the European HY issuers in this piece, which takes excerpts from the Global HYQ and adds to it, including asset cover and a summary of our most preferred and least preferred names.
- Pierre François Merveille
Tele Columbus : Fibre push
Tele Columbus (TC) has started to implement its Fiber Champion strategy in the course of 2021 following the successful takeover of the company by Kublai (MSIP / United Internet) and a subsequent capital raise of € 475m in May 2021. The latter had a positive initial impact on the net leverage (4.9x excluding leases at end-2021 vs 6.3x in 2020), which is set to reverse as a result of investment in opex (personnel and marketing costs) and in capex (upgrade of the HFC network to FTTB...
- Pierre François Merveille
Tele Columbus : Fibre push
Tele Columbus (TC) has started to implement its Fiber Champion strategy in the course of 2021 following the successful takeover of the company by Kublai (MSIP / United Internet) and a subsequent capital raise of € 475m in May 2021. The latter had a positive initial impact on the net leverage (4.9x excluding leases at end-2021 vs 6.3x in 2020), which is set to reverse as a result of investment in opex (personnel and marketing costs) and in capex (upgrade of the HFC network to FTTB...
An unfavourable environment weighs on TELE COLUMBUS, which sees a down...
The independent financial analyst theScreener just requalified the general evaluation of TELE COLUMBUS (DE), active in the Integrated Telecommunications industry. As regards its fundamental valuation, the title still shows 1 out of 4 stars and its market behaviour is seen as defensive. theScreener believes that the unfavourable environment weighs on the sector and penalises the company, which sees a downgrade to its general evaluation to Neutral. As of the analysis date January 18, 2022, the clo...
DGAP-News: Tele Columbus AG: New optical fibre rings connect key netwo...
DGAP-News: Tele Columbus AG / Key word(s): Market Report/Miscellaneous Tele Columbus AG: New optical fibre rings connect key network locations in four German states 22.12.2021 / 10:47 The issuer is solely responsible for the content of this announcement. Press Release Tele Columbus expands internet backbone New optical fibre rings connect key network locations in four German states - Approx. 1,400 kilometres of optical fibre connects additional network locations - Rapid response for capacity adjustments - Technological groundwork for further FTTH expansion Berlin, ...
DGAP-News: Tele Columbus AG: Neue Glasfaserringe verbinden wichtige Ne...
DGAP-News: Tele Columbus AG / Schlagwort(e): Marktbericht/Sonstiges Tele Columbus AG: Neue Glasfaserringe verbinden wichtige Netzstandorte in vier Bundesländern 22.12.2021 / 10:47 Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich. Pressemitteilung Tele Columbus erweitert Internet-Backbone Neue Glasfaserringe verbinden wichtige Netzstandorte in vier Bundesländern - Ca. 1.400 Kilometer Glasfaser erschließen weitere Netzstandorte - Kurze Vorlaufzeiten für Kapazitätsanpassungen - Technologische Grundlage für weiteren FTTH-Ausbau Berlin, 22 Dez...
DGAP-News: Tele Columbus AG: Tele Columbus rüstet Netze für Gigabit au...
DGAP-News: Tele Columbus AG / Schlagwort(e): Markteinführung/Produkteinführung Tele Columbus AG: Tele Columbus rüstet Netze für Gigabit auf 07.12.2021 / 10:00 Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich. Pressemitteilung DOCSIS 3.1 Rollout gestartet Tele Columbus rüstet Netze für Gigabit auf Berlin, 07.12.2021. Die Tele Columbus AG, einer der führenden Glasfaserkabelnetzbetreiber, hat damit begonnen, seine internetfähigen Netze für Übertragungsgeschwindigkeiten bis ein Gigabit pro Sekunde zu optimieren. Mit der Aufrüstung soll der weit ...
DGAP-News: Tele Columbus AG: Tele Columbus equips networks with gigabi...
DGAP-News: Tele Columbus AG / Key word(s): Market launch/Product Launch Tele Columbus AG: Tele Columbus equips networks with gigabit capacity 07.12.2021 / 10:00 The issuer is solely responsible for the content of this announcement. Press Release DOCSIS 3.1 roll-out started Tele Columbus equips networks with gigabit capacity Berlin, December 7th, 2021. Tele Columbus AG, one of the leading fibre network operators, has begun optimising its internet-capable networks for transmission speeds of up to one gigabit per second. The upgrade will ensure that the majority of the r...
DGAP-News: Tele Columbus AG: New product portfolio and offers for autu...
DGAP-News: Tele Columbus AG / Key word(s): Market launch/Miscellaneous Tele Columbus AG: New product portfolio and offers for autumn: PYUR confirms current best value for money 21.09.2021 / 12:15 The issuer is solely responsible for the content of this announcement. PRESS RELEASE Cable connection included, ancillary cost discount for pay-as-you-go customers New product portfolio and offers for autumn: PŸUR confirms current best value for money - Cable connection included automatically with bundle tariffs - Discount on ancillary leasing costs of € 10 for customers en...
DGAP-News: Tele Columbus AG: Neues Produktportfolio und Herbstangebote...
DGAP-News: Tele Columbus AG / Schlagwort(e): Markteinführung/Sonstiges Tele Columbus AG: Neues Produktportfolio und Herbstangebote: PYUR bestätigt aktuell bestes Preis-Leistungs-Verhältnis 21.09.2021 / 12:15 Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich. PRESSEMITTEILUNG Kabelanschluss inklusive, Nebenkostenrabatt für Sammelinkasso-Kunden Neues Produktportfolio und Herbstangebote: PŸUR bestätigt aktuell bestes Preis-Leistungs-Verhältnis - Kabelanschluss in Kombi-Tarifen automatisch enthalten - Mietnebenkostenrabatt von 10 Euro für Kunden...
DGAP-News: Tele Columbus AG: M7 und PYUR verlängern Partnerschaft
DGAP-News: Tele Columbus AG / Schlagwort(e): Kooperation/Vereinbarung Tele Columbus AG: M7 und PYUR verlängern Partnerschaft 20.09.2021 / 14:01 Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich. PRESSEMITTEILUNG Leistungsstarkes und vielfältiges Programmangebot M7 und PŸUR verlängern Partnerschaft - Pay-TV- und Fremdsprachenprogramme für Kabelkunden - Signalzuführung über M7-Satellitenplattform - Ausbau der Zusammenarbeit Köln/Berlin, 20. September 2021. M7, Deutschlands führender Anbieter von TV-Entertainment für Kabel- und IP-Netze, und ...
DGAP-News: Tele Columbus AG: M7 and PYUR extend partnership
DGAP-News: Tele Columbus AG / Key word(s): Alliance/Agreement Tele Columbus AG: M7 and PYUR extend partnership 20.09.2021 / 14:01 The issuer is solely responsible for the content of this announcement. PRESS RELEASE Wide range of appealing programming M7 and PŸUR extend partnership - Pay TV and foreign-language programming for cable customers - M7 satellite platform provides signals - Alliance to be expanded Cologne/Berlin, 20 September 2021. M7, Germany's leading provider of TV entertainment for cable and IP networks, and PŸUR, a brand of Tele Columbus AG, have ext...
DGAP-News: Tele Columbus AG: Eisenbahner-Wohnungsbaugenossenschaft (EW...
DGAP-News: Tele Columbus AG / Schlagwort(e): Auftragseingänge/Vertriebsergebnis Tele Columbus AG: Eisenbahner-Wohnungsbaugenossenschaft (EWG) und Te-le Columbus bauen flächendeckendes Glasfasernetz für rund 8.000 Haushalte 15.09.2021 / 12:30 Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich. PRESSEMITTEILUNG Schnelles Internet für eine ganze Genossenschaft Eisenbahner-Wohnungsbaugenossenschaft (EWG) und Tele Columbus bauen flächendeckendes Glasfasernetz für rund 8.000 Haushalte - Neuer Gestattungsvertrag zwischen EWG und Tele Columbus - Voll...
DGAP-News: Tele Columbus AG: Eisenbahner-Wohnungsbaugenossenschaft (EW...
DGAP-News: Tele Columbus AG / Key word(s): Incoming Orders/Sales Result Tele Columbus AG: Eisenbahner-Wohnungsbaugenossenschaft (EWG) and Tele Columbus to build comprehensive fibre-optic network for around 8,000 households 15.09.2021 / 12:30 The issuer is solely responsible for the content of this announcement. PRESS RELEASE High-speed internet for an entire housing cooperative Eisenbahner-Wohnungsbaugenossenschaft (EWG) and Tele Columbus to build comprehensive fibre-optic network for around 8,000 households - New concession agreement between EWG and Tele Columbus - ...
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