reports
- Ben Rickett
- James Ratzer
FIBERCOP (U/W): Higher capex and worse line losses
Having reported preliminary headline 2024 numbers back in February (discussed here), FiberCop has today published more details – and in this note, we increase our leverage estimates to reflect higher than expected capex, and also better FTTH take-up at their competitor, OpenFiber.
- Ben Rickett
- James Ratzer
FIBERCOP (Underweight): 2024 preliminary results - higher capex outlay
FiberCop has released preliminary 2024 results – and this follows our initiation of coverage earlier this week. In this brief note, we run through the (very) few data points disclosed, with higher capex than expected, and thoughts on feedback from the initiation.
- Ben Rickett
- James Ratzer
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