Despite the US and Egyptian businesses driving operating profits up by cE40m this year and upping group EBITDA margins by 210bps; albeit from a low of 15.7%. Our target price is at E24.3 or at 9.5x 2016 EBITDA. Catalysts 1) pickup in Greek private …to access this report contact@researchgreece.com
We fine tune our model; our target price stays at E9. This year we model E71m of new investments; next year E81m. Hopefully the … to access this report contact@researchgreece.com
Management reiterated FY 2015 guidance and its strategy with both to be updated during the summer; It seems Q2 will shape the company’s future in many fronts (acquisitions, local economy); so far Q2 sales run rate is equally strong as the one in Q1 on the back of acquisitions made in 2014 and higher advertising….
Management reiterates its guidance over FCFE (adjusted for spectrum) >E500m in 2015E; This is the reason we keep our OI rating on the name; we cut our EBITDA estimates for 2015-2016 by 3.0%-4.5% to account for the weak mobile and fixed Romanian businesses. OTE should exit the latter in our view (instead of increasing its…
In this RG Food 4 Thought we summarize our (updated) thoughts on Greece.With time running out we conclude Greece will back down first as the alternative is a no go … long term gains will depend on Greece honoring the deal – squaring the circle … we believe the agreement struck will be from … to access…