reports
- Myriam CHAABOUNI
Heavily impacted by Q2 achievements
Heavily impacted by Q2 achievements EARNINGS/SALES RELEASES Paltel recorded a decrease across all the board for the H1 2019 period, due to the slowdown witnessed during the Q2 2019. H1 2019 revenues decreased by 6.3%, yoy, to JOD149.2m due to the increasing competition in the mobile sector in addition to the unpleasant political and economic conditions in the country. H1 2019 net profit witnessed a drop by 3.2%, yoy, to JOD35.5m, on lower revenues, higher finance costs and lower investment por...
- Myriam CHAABOUNI
Downgraded perspectives on lower FY 2018 results (PALTEL)
Downgraded perspectives on lower FY 2018 results EPS CHANGE CHANGE IN EPS2019 : JOD 0.51 vs 0.54 -5.06% 2020 : JOD 0.52 vs 0.56 -6.17% Paltel closed the year 2018 on lower-than-expected results on the back of the increasing competition in the mobile sector, in addition to the negative FX impact. We have updated our model based on FY 2018 figures. Therefore, we have revised our FY 2019 and FY 2020 EPS downwards (-5.6% to JOD0.51, and -7.1% to JOD0.52, respectively). Thus, the EPS decrease stems...
- Myriam CHAABOUNI
Lower FY 2018 results on negative FX impact and previous year one-time...
Lower FY 2018 results on negative FX impact and previous year one-time tax settlement EARNINGS/SALES RELEASES Paltel recorded lower than expected results in Q3 and Q4, which affected the group’s FY 2018 overall performance. Q4 2018 revenues decreased by 15.4%, at JOD 69.3m mainly due to the increasing competition in the mobile sector in addition to the negative FX impact, taking FY 2018 revenues to JOD 305.5m, down 8.7%, yoy. FY 2018 net profit stood at JOD 67.1m, slightly down by 4.9%, yoy,...
- Myriam CHAABOUNI
Q3 2018 results affected by previous year one-time tax settlement
Q3 2018 results affected by previous year one-time tax settlement EARNINGS/SALES RELEASES Paltel recorded lower than expected Q3 2018 results affecting the group’s 9M 2018 overall performance. Q3 2018 revenues decreased by 12.1%, at JOD76.8m due to the increasing competition in the mobile sector in addition to the negative FX impact experienced in Q3 2018. Q3 2018 net profit dropped by 27.1% at JOD15.5m due to the non-recurring tax settlement recorded in Q3 2017 (JOD+13.6m). Consequently, 9M...
- Myriam CHAABOUNI
Downgrading outlook (PALTEL)
Downgrading outlook EPS CHANGE CHANGE IN EPS2018 : JOD 0.52 vs 0.58 -10.0% 2019 : JOD 0.54 vs 0.60 -9.76% Paltel’s 9M 2018 bottom line comes far below our projections on lower revenues and increased finance and tax costs. We have updated our model based on Q3 2018 figures. Therefore, we have revised our FY 2018 and FY 2019 EPS downwards (-10.3% to JOD0.52, and -10% to JOD0.54, respectively). The decrease in our 2018-2020 net profits is mainly attributable to the downward revision of our rev...
- Myriam CHAABOUNI
H1 2018, A solid bottom line
H1 2018, A solid bottom line EARNINGS/SALES RELEASES Paltel recorded mixed H1 2018 results with lower revenues and healthy bottom line growth. H1 2018 revenues decreased by 3.7%, yoy, to JOD159.3m, due to the increasing competition in the mobile sector in addition to the persistent unpleasant economic conditions in the country. H1 2018 net profit witnessed a healthy increase by 10.8%, yoy, to JOD36.6m, thanks to the decrease in the operating expenses and income tax in addition to the improveme...
- Myriam CHAABOUNI
Upgrading outlook (PALTEL)
Upgrading outlook EPS CHANGE CHANGE IN EPS2018 : JOD 0.58 vs 0.51 +13.4% 2019 : JOD 0.60 vs 0.53 +13.1% Paltel’s ongoing efforts to strengthen its revenues and improve its operational efficiency are clearly visible. We have updated our model based on FY 2017 and Q1 2018 figures. Therefore, we have revised our FY 2018 and FY 2019 EPS upwards (+13.7% to JOD0.58, and +13.2% to JOD0.60, respectively). The increase of our 2018-2020 net profits is mainly attributable to the upward revision of our ...
- Myriam CHAABOUNI
A rather satisfactory year
A rather satisfactory year EARNINGS/SALES RELEASES Despite the modest revenue growth (+0.7% at JOD335m), Paltel’s FY2017 EBITDA recorded a significant increase by 6.4% to JOD152m, with an improved EBITDA margin of 45.3%, up by 240 bps indicating the group’s strong operational performance. On a like-for-like basis, Paltel’s FY2017 net profit would remain stable (+0.2%, yoy, at JOD81m). The group maintained a dividend of JOD0.4/share for 2017, which equals 2016 dividend. On a like-for-like...
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