Strong results are ahead of January’s year-end trading update and our forecasts. Despite a marginal reduction in revenue, an improved gross margin and reduced normalised operating costs have resulted in 12% EBITDA growth y/y and a 7% outperforming of our forecasts. In FY16, we expect Universe (HTEC) to maintain this improved EBITDA margin and also to benefit from strong revenue visibility in relation to scheduled rollouts. As a result, we upgrade our FY16 EBITDA expectation by 8% and ra
12 Apr 2016
Prelims – margins drive outperformance
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Prelims – margins drive outperformance
- Published:
12 Apr 2016 -
Author:
Cavendish Research -
Pages:
12
Strong results are ahead of January’s year-end trading update and our forecasts. Despite a marginal reduction in revenue, an improved gross margin and reduced normalised operating costs have resulted in 12% EBITDA growth y/y and a 7% outperforming of our forecasts. In FY16, we expect Universe (HTEC) to maintain this improved EBITDA margin and also to benefit from strong revenue visibility in relation to scheduled rollouts. As a result, we upgrade our FY16 EBITDA expectation by 8% and ra