4iG (BSE: 4IG)

Currency in HUF

Last close As at 21/09/2023

HUF863.00

−6.00 (−0.69%)

Market capitalisation

HUF258,102m

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.

4iG is building a leading regional information and communication technology group. Its strategy is focused on three pillars: telecoms and infrastructure, IT services and satellites and space. The group is targeting market leadership in Hungary, with M&A driving an increasingly diversified footprint across the Western Balkans.

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Sector

TMT

Equity Analyst

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 6.3 30.4 20.7
Relative 8.4 17.6 (14.8)
52 week high/low HUF869.0/HUF632.0

Financials

4iG’s H123 results reflect the inclusion of Vodafone Hungary (VH) 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). After a multi-year series of telco and IT acquisitions in Hungary and the Western Balkans, 4iG is focused on realising revenue and cost synergies from the combined businesses.

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 12.7 7.0
2022A 277421.0 74054.0 (15247.0) (67.54) N/A 3.2
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

Update

TMT

4iG — Strong Q320 results, estimates raised

Flash note

TMT

4iG — Launch of CarpathiaSat joint venture

Flash note

TMT

4iG — Acquisition of TRC

Update

TMT

4iG — CEO doubles down on 4iG

Flash note

TMT

4iG Nyrt — Continuing momentum despite lockdown