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4iG (BSE: 4IG)

Currency in HUF

Last close As at 04/12/2023

HUF776.00

▲ −18.00 (−2.27%)

Market capitalisation

HUF239,260m

4iG is a regional ICT/telecoms group, based in Hungary and focused on two core areas: telecoms and infrastructure in Hungary and the West Balkans; and IT services, where it is the number one IT systems integrator in Hungary.

Post the Vodafone Hungary acquisition, 4iG now has the number two position in mobile and fixed line telephony and leading positions in fixed broadband and TV services in Hungary, along with market-leading positions in Albania and a robust presence in Montenegro.

Latest Insights

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TMT | Update

4iG — Record results; integration plan well under way

TMT | Flash note

4iG — Yettel stake swapped for 19.5% of Vodafone Hungary

TMT | Update

4iG — Regional ICT group positioned for growth

TMT | Flash note

4iG — Completion of Vodafone Hungary acquisition
4iG_resized
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Sector

TMT

Equity Analyst

Katherine Thompson

Key Management

  • Akos Horanyi

    IR

  • Gellért Jászai

    Chairman

  • Peter Fekete

    CEO

Balance Sheet

Forecast net debt (HUFm)

N/A

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
% 1M 3M 12M
Actual 0.1 (5.0) 9.3
Relative (1.7) (5.5) (12.8)
52 week high/low HUF869.0/HUF632.0

Financials

4iG’s H123 results reflect the inclusion of Vodafone Hungary since its acquisition on 31 January. Since then, 4iG has been working through its integration plan, which includes monetising the DIGI mobile network infrastructure and launching a strategic review to consider carve-out options and further asset optimisation (the scope is Hungarian fixed and Albanian/Montenegrin passive mobile infrastructure). The company recently announced it had signed an MoU with Telecom Egypt for the construction of a high-capacity submarine fibre-optic cable between Albania and Egypt. This alternative to existing Mediterranean routes should help 4iG gain a share of data traffic between Europe and Asia/East Africa.

Y/E Dec Revenue (HUFm) EBITDA (HUFm) PBT (HUFm) EPS (fd) (HUF) P/E (x) P/CF (x)
2021A 93653.0 11793.0 8102.0 67.60 11.7 6.5
2022A 277421.0 74054.0 (15247.0) (67.54) N/A 3.0
2023E N/A N/A N/A N/A N/A N/A
2024E N/A N/A N/A N/A N/A N/A

Research

4iG_resized

Flash note

TMT

4iG — Yettel stake swapped for 19.5% of Vodafone Hungary

Update

TMT

4iG — Regional ICT group positioned for growth

TMT

Update

4iG — Record results; integration plan well under way
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Thematics

thematic

Consumer

Deutsches Eigenkapitalforum (EKF) 2023 consumer and media

thematic

TMT

Deutsches Eigenkapitalforum (EKF) 2023 technology

thematic

TMT

MediaWatch – November 2023: Still waiting…

thematic

TMT

MediaWatch – July 2023
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