Q3 revenues were down by 3% yoy with still a low impact from the pandemic, while EBITDA was up by 2% despite the decline in revenues.
The group maintains the guidance it had reinstated three months ago, expecting a roughly flat EBITDA for the whole year. 2020 EBITDA should indeed grow by 2%.
The stock is down by 5% this morning but we believe it is undeserved and we maintain our opinion at Add with a c.20% upside.
20 Oct 2020
An undeserved profit taking after a correct Q3
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An undeserved profit taking after a correct Q3
Tele2 AB Class B (0QE6:LON), 0 | Tele2 AB Class B (TEL2.B:OME), 0 | Tele2 AB Class B (TLTZF:OTC), 0 | Tele2 AB Class B (NCYD:FRA), 0
- Published:
20 Oct 2020 -
Author:
Jean-Michel Salvador -
Pages:
3
Q3 revenues were down by 3% yoy with still a low impact from the pandemic, while EBITDA was up by 2% despite the decline in revenues.
The group maintains the guidance it had reinstated three months ago, expecting a roughly flat EBITDA for the whole year. 2020 EBITDA should indeed grow by 2%.
The stock is down by 5% this morning but we believe it is undeserved and we maintain our opinion at Add with a c.20% upside.