Q4 EBITDA was very solid and better than expected as it increased by 5% yoy and lfl, roaming losses being more than outweighed by a well-managed restructuring.
The stock is still 15% below its pre-COVID-19 prices, an undeserved performance as the group suffers indeed from its low dividend (the two main shareholders do not seem, indeed, too demanding). But net debt was down by 10% yoy at end 2020. We remain at Strong Buy with a 30% upside.
10 Feb 2021
A very solid 5% EBITDA growth in Q4
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A very solid 5% EBITDA growth in Q4
Telekom Austria AG (TKA:WBO) | 0 0 0.1% | Mkt Cap: 4,944m
- Published:
10 Feb 2021 -
Author:
Jean-Michel Salvador -
Pages:
3
Q4 EBITDA was very solid and better than expected as it increased by 5% yoy and lfl, roaming losses being more than outweighed by a well-managed restructuring.
The stock is still 15% below its pre-COVID-19 prices, an undeserved performance as the group suffers indeed from its low dividend (the two main shareholders do not seem, indeed, too demanding). But net debt was down by 10% yoy at end 2020. We remain at Strong Buy with a 30% upside.