A solid Q1 for Elisa but we maintain, however, our opinion at Reduce: we still believe the group is now too expensive as it is going to see its EBITDA growth slowing in 2020/21. The group’s EV is trading at no less than 13.5x EBITDA, which is very expensive compared to other European telcos. The group has paid a dividend of €1.85 for 2019, corresponding to a 3.5% dividend yield which stands well below the average of its peers at c.5.5%.
22 Apr 2020
Still too expensive
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Still too expensive
Elisa Oyj Class A (ELISA:HEL) | 0 0 0.0%
- Published:
22 Apr 2020 -
Author:
Jean-Michel Salvador -
Pages:
2
A solid Q1 for Elisa but we maintain, however, our opinion at Reduce: we still believe the group is now too expensive as it is going to see its EBITDA growth slowing in 2020/21. The group’s EV is trading at no less than 13.5x EBITDA, which is very expensive compared to other European telcos. The group has paid a dividend of €1.85 for 2019, corresponding to a 3.5% dividend yield which stands well below the average of its peers at c.5.5%.