New Risk • Apr 24
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Hungarian stocks, typically moving 11% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings have declined by 48% per year over the past 5 years. Announcement • Apr 09
4iG Nyrt., Annual General Meeting, Apr 30, 2026 4iG Nyrt., Annual General Meeting, Apr 30, 2026. Reported Earnings • Mar 04
Full year 2025 earnings released: Ft62.41 loss per share (vs Ft161 loss in FY 2024) Full year 2025 results: Ft62.41 loss per share (improved from Ft161 loss in FY 2024). Revenue: Ft764.3b (up 11% from FY 2024). Net loss: Ft18.1b (loss narrowed 61% from FY 2024). Revenue is expected to decline by 90% p.a. on average during the next 2 years, while revenues in the IT industry in Europe are expected to grow by 4.3%. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 71% per year, which means it is well ahead of earnings. New Risk • Feb 26
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Hungarian stocks, typically moving 7.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 56% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (7.8% average weekly change). Reported Earnings • Dec 01
Third quarter 2025 earnings released: EPS: Ft4.42 (vs Ft10.29 loss in 3Q 2024) Third quarter 2025 results: EPS: Ft4.42 (up from Ft10.29 loss in 3Q 2024). Revenue: Ft179.4b (up 7.0% from 3Q 2024). Net income: Ft1.30b (up Ft7.34b from 3Q 2024). Profit margin: 0.7% (up from net loss in 3Q 2024). The move to profitability was driven by higher revenue. Revenue is expected to decline by 61% p.a. on average during the next 3 years, while revenues in the IT industry in Europe are expected to grow by 3.2%. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has increased by 89% per year, which means it is well ahead of earnings. Announcement • Nov 24
4iG Nyrt. Announces Resignation of Pedro Vargas Santos David from Board of Directors, Effective 21 November 2025 4iG Nyrt. announced that Pedro Vargas Santos David, member of the Board of Directors, has resigned from his membership of the Board of Directors as of 21 November 2025. Reported Earnings • Sep 01
Second quarter 2025 earnings released Second quarter 2025 results: Revenue: Ft188.7b (up 5.3% from 2Q 2024). Net loss: Ft10.3b (loss narrowed 10% from 2Q 2024). Revenue is expected to decline by 62% p.a. on average during the next 3 years, while revenues in the IT industry in Europe are expected to grow by 4.6%. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has increased by 40% per year, which means it is well ahead of earnings. Reported Earnings • Jun 02
First quarter 2025 earnings released: Ft12.70 loss per share (vs Ft60.63 loss in 1Q 2024) First quarter 2025 results: Ft12.70 loss per share (improved from Ft60.63 loss in 1Q 2024). Revenue: Ft171.5b (up 11% from 1Q 2024). Net loss: Ft3.73b (loss narrowed 78% from 1Q 2024). Revenue is expected to decline by 62% p.a. on average during the next 3 years, while revenues in the IT industry in Europe are expected to grow by 4.2%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 97 percentage points per year, which is a significant difference in performance. New Risk • Jan 15
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Hungarian stocks, typically moving 4.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 75% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (4.4% average weekly change). Announcement • Dec 11
4iG Nyrt., Annual General Meeting, Apr 30, 2025 4iG Nyrt., Annual General Meeting, Apr 30, 2025. Reported Earnings • Dec 02
Third quarter 2024 earnings released: Ft10.33 loss per share (vs Ft31.75 loss in 3Q 2023) Third quarter 2024 results: Ft10.33 loss per share (improved from Ft31.75 loss in 3Q 2023). Revenue: Ft192.4b (up 29% from 3Q 2023). Net loss: Ft6.00b (loss narrowed 38% from 3Q 2023). Revenue is expected to decline by 101% p.a. on average during the next 2 years, while revenues in the IT industry in Europe are expected to grow by 5.0%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 99 percentage points per year, which is a significant difference in performance. Reported Earnings • Sep 02
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: Ft178.4b (up 17% from 2Q 2023). Net loss: Ft11.5b (down 459% from profit in 2Q 2023). Revenue is expected to decline by 98% p.a. on average during the next 2 years, while revenues in the IT industry in Europe are expected to grow by 5.8%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 105 percentage points per year, which is a significant difference in performance. Announcement • Jul 08
4iG Appoints Tamás Tábori as Group Deputy CEO for Telecommunications Strategy 4iG has announced the appointment of three new executive officers to support its ambitious growth plans. Tamás Tábori joins the company as group deputy CEO for telecommunications strategy. Tabori previously served asmanaging director of Digi and general deputy CEO of Vodafone Hungary. Reported Earnings • Jun 05
First quarter 2024 earnings released: Ft60.40 loss per share (vs Ft0.27 profit in 1Q 2023) First quarter 2024 results: Ft60.40 loss per share (down from Ft0.27 profit in 1Q 2023). Revenue: Ft157.7b (up 37% from 1Q 2023). Net loss: Ft16.7b (down Ft16.7b from profit in 1Q 2023). Revenue is expected to decline by 91% p.a. on average during the next 2 years, while revenues in the IT industry in Europe are expected to grow by 6.7%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 115 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 03
Full year 2023 earnings released: Ft107 loss per share (vs Ft67.54 loss in FY 2022) Full year 2023 results: Ft107 loss per share (further deteriorated from Ft67.54 loss in FY 2022). Revenue: Ft642.4b (up 126% from FY 2022). Net loss: Ft25.9b (loss widened 37% from FY 2022). Revenue is expected to decline by 85% p.a. on average during the next 2 years, while revenues in the IT industry in Europe are expected to grow by 7.1%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 110 percentage points per year, which is a significant difference in performance. Announcement • Feb 15
4iG PLC Announces Executive Changes 4iG PLC entered a new phase in its transformation program, with planned personnel changes in the company's top management effective from 1 of March. László Blénessy, General Deputy GCEO for Technology and Network, has successfully completed the integration of the areas assigned to him, therefore his future role and responsibilities will be transformed. He resigns from his position as CEO of "ANTENNA HUNGARIA" Zrt. and from his position as operational manager in 4iG, thus the position of General Deputy GCEO for Technology and Network will cease to exist in the top management of 4iG. As a member of the Board of Directors in 4iG and as an advisor to the CEO, he continues to support the transformation of the technological and digital areas. 4iG also announces personal changes at the top of its IT division, where Gábor Radó, former Commercial Director, will take over the management from Tamás Tápai. Tamás Tápai continues his career within the Group as an advisor to the CEO of 4iG. Reported Earnings • Dec 03
Third quarter 2023 earnings released: Ft31.75 loss per share (vs Ft27.24 loss in 3Q 2022) Third quarter 2023 results: Ft31.75 loss per share (further deteriorated from Ft27.24 loss in 3Q 2022). Revenue: Ft149.7b (up 108% from 3Q 2022). Net loss: Ft9.66b (loss widened 18% from 3Q 2022). Revenue is expected to decline by 49% p.a. on average during the next 3 years, while revenues in the IT industry in Europe are expected to grow by 6.3%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 97 percentage points per year, which is a significant difference in performance. Reported Earnings • Sep 03
Second quarter 2023 earnings released: EPS: Ft30.32 (vs Ft5.06 loss in 2Q 2022) Second quarter 2023 results: EPS: Ft30.32 (up from Ft5.06 loss in 2Q 2022). Revenue: Ft169.9b (up 206% from 2Q 2022). Net income: Ft8.99b (up Ft10.6b from 2Q 2022). Profit margin: 5.3% (up from net loss in 2Q 2022). Revenue is expected to decline by 44% p.a. on average during the next 3 years, while revenues in the IT industry in Europe are expected to grow by 7.1%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 87 percentage points per year, which is a significant difference in performance. Reported Earnings • Jun 02
First quarter 2023 earnings released: Ft3.94 loss per share (vs Ft10.20 profit in 1Q 2022) First quarter 2023 results: Ft3.94 loss per share (down from Ft10.20 profit in 1Q 2022). Revenue: Ft119.2b (up 73% from 1Q 2022). Net loss: Ft1.17b (down 159% from profit in 1Q 2022). Revenue is expected to decline by 59% p.a. on average during the next 2 years, while revenues in the IT industry in Europe are expected to grow by 7.3%. Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Reported Earnings • Mar 06
Full year 2022 earnings released: Ft70.40 loss per share (vs Ft74.62 profit in FY 2021) Full year 2022 results: Ft70.40 loss per share (down from Ft74.62 profit in FY 2021). Revenue: Ft299.2b (up 216% from FY 2021). Net loss: Ft21.0b (down 393% from profit in FY 2021). Revenue is expected to decline by 48% p.a. on average during the next 2 years, while revenues in the IT industry in Europe are expected to grow by 1.6%. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. Announcement • Feb 01
4iG Nyrt. (BUSE:4IG) and Corvinus Nemzetközi Befektetési Zrt. completed the acquisition of Vodafone Magyarország Mobil Távközlési Zartkoruen Mukodo Részvénytársaság from Vodafone Europe B.V. 4iG Nyrt. (BUSE:4IG) and Corvinus Nemzetközi Befektetési Zrt. entered into heads of terms to acquire Vodafone Magyarország Mobil Távközlési Zartkoruen Mukodo Részvénytársaság from Vodafone Europe B.V. for approximately HUF 720 billion on August 22, 2022. As of January 9, 2023, 4iG Nyrt. and Corvinus Nemzetközi Befektetési Zrt. entered into binding terms to acquire Vodafone Magyarország Mobil Távközlési Zartkoruen Mukodo Részvénytársaság from Vodafone Europe B.V. for HUF 660 billion.
As per the transaction, 4iG Nyrt. Will acquire 51% stake and Corvinus Nemzetközi Befektetési Zrt. will acquire 49% stake in Vodafone Magyarország Mobil Távközlési Zartkoruen Mukodo Részvénytársaság. The transaction represents a multiple of 7.7x EBITDA for the twelve-month period ending March 31, 2022. As of January 9, 2023, revised cash consideration represents a multiple of 8.4x EBITDA for the twelve-month period ending March 31, 2022. As on March 31, 2022, Vodafone Magyarország Mobil Távközlési Zartkoruen Mukodo Részvénytársaság generated, revenue of HUF 278 billion and its adjusted EBITDA exceeded HUF 93 billion. The transaction is subject to completion of confirmatory due diligence, the parties entering into binding transaction documentation and obtaining regulatory approval and is expected to close by the end of 2022. As of January 9, 2023, the transaction is expected to take place in January 2023. Proceeds from the sale are intended to be used for deleveraging.
JPMorgan Chase & Co. acted as financial advisor to 4iG Nyrt. and Corvinus Nemzetközi Befektetési Zrt. in the transaction. Bank of America acted as financial advisor to Vodafone Magyarország Mobil Távközlési Zartkoruen Mukodo Részvénytársaság. Victoria MacDuff, Richard Hilton, Duncan Blaikie, Charlie McGarel-Groves, Mike Lane, Claire Jeffs, Alexander Chadd and Padraig Cronin of Slaughter and May advised Vodafone on the transaction.
4iG Nyrt. (BUSE:4IG) and Corvinus Nemzetközi Befektetési Zrt. completed the acquisition of Vodafone Magyarország Mobil Távközlési Zartkoruen Mukodo Részvénytársaság from Vodafone Europe B.V. on January 31, 2023. Reported Earnings • Dec 04
Third quarter 2022 earnings released: Ft31.33 loss per share (vs Ft27.97 profit in 3Q 2021) Third quarter 2022 results: Ft31.33 loss per share (down from Ft27.97 profit in 3Q 2021). Revenue: Ft74.6b (up 262% from 3Q 2021). Net loss: Ft9.33b (down Ft11.6b from profit in 3Q 2021). Revenue is expected to decline by 24% p.a. on average during the next 3 years, while revenues in the IT industry in Europe are expected to grow by 11%. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Board Change • Nov 16
No independent directors There are 7 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 7 new directors. 3 experienced directors. No highly experienced directors. No independent directors (6 non-independent directors). Chairman of the Board of Directors & Member of the Executive Board Jaszai Zoltan is the most experienced director on the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors. Announcement • Oct 06
4iG Nyrt. (BUSE:4IG), VBPS Ingatlanforgalmazó és -Hasznosító Kft., MISTRAL TRUST FUND Vagyonkezelo Kft. and Pichovszky Domonkos signed an agreement to acquire 75% stake in CREALIVE Reklámügynökség Kft. 4iG Nyrt. (BUSE:4IG), VBPS Ingatlanforgalmazó és -Hasznosító Kft., MISTRAL TRUST FUND Vagyonkezelo Kft. and Pichovszky Domonkos signed an agreement to acquire 75% stake in CREALIVE Reklámügynökség Kft on October 5, 2022. 4iG Nyrt acquired 75% in CREALIVE Reklámügynökség and its subsidiaries Honeycomb Central Europe Kft. and Honeycomb Hungary Kft. The transaction may be completed by the end of the year, depending on the outcome of the required competition proceedings. Reported Earnings • Sep 03
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: Ft75.2b (up 343% from 2Q 2021). Net loss: Ft1.60b (loss widened Ft1.51b from 2Q 2021). Over the next year, revenue is expected to shrink by 47% compared to a 6.9% decline forecast for the IT industry in Hungary. Announcement • Aug 23
4iG Nyrt. (BUSE:4IG) and Corvinus Nemzetközi Befektetési Zrt. entered into heads of terms to acquire Vodafone Magyarország Mobil Távközlési Zartkoruen Mukodo Részvénytársaság from Vodafone Europe B.V. for approximately HUF 720 billion. 4iG Nyrt. (BUSE:4IG) and Corvinus Nemzetközi Befektetési Zrt. entered into heads of terms to acquire Vodafone Magyarország Mobil Távközlési Zartkoruen Mukodo Részvénytársaság from Vodafone Europe B.V. for approximately HUF 720 billion on August 22, 2022. As per the transaction, 4iG Nyrt. Will acquire 51% stake and Corvinus Nemzetközi Befektetési Zrt. will acquire 49% stake in Vodafone Magyarország Mobil Távközlési Zartkoruen Mukodo Részvénytársaság. As on March 31, 2022, Vodafone Magyarország Mobil Távközlési Zartkoruen Mukodo Részvénytársaság generated, revenue of HUF 278 billion and its adjusted EBITDA exceeded HUF 93 billion. The transaction represents a multiple of 7.7x EBITDA for the twelve-month period ending March 31, 2022. The transaction is subject to completion of confirmatory due diligence, the parties entering into binding transaction documentation and obtaining regulatory approval and is expected to close by the end of 2022. Upcoming Dividend • Jun 17
Upcoming dividend of Ft29.00 per share Eligible shareholders must have bought the stock before 24 June 2022. Payment date: 04 July 2022. Payout ratio is a comfortable 41% and this is well supported by cash flows. Trailing yield: 3.7%. Lower than top quartile of Hungarian dividend payers (5.7%). Higher than average of industry peers (2.1%). Reported Earnings • May 16
Full year 2021 earnings released: EPS: Ft74.62 (vs Ft37.17 in FY 2020) Full year 2021 results: EPS: Ft74.62 (up from Ft37.17 in FY 2020). Revenue: Ft94.6b (up 64% from FY 2020). Net income: Ft7.16b (up 111% from FY 2020). Profit margin: 7.6% (up from 5.9% in FY 2020). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 3.5% compared to a 1.6% decline forecast for the industry in Europe. Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Board Change • Apr 27
No independent directors There are 5 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 5 new directors. 5 experienced directors. No highly experienced directors. No independent directors (6 non-independent directors). Chairman of the Board of Directors, CEO & Member of the Executive Board Jaszai Zoltan is the most experienced director on the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors. Reported Earnings • Mar 04
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: Ft66.00 (up from Ft37.17 in FY 2020). Revenue: Ft95.4b (up 66% from FY 2020). Net income: Ft5.94b (up 75% from FY 2020). Profit margin: 6.2% (up from 5.9% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.0%. Over the next year, revenue is forecast to grow 2.6% while the industry in Europe is not expected to grow. Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Announcement • Jan 06
4iG Nyrt. (BUSE:4IG) completed the acquisition of DIGI Távközlési és Szolgáltató Kft. 4iG Nyrt. (BUSE:4IG) entered into a preliminary and non-binding agreement to acquire DIGI Távközlési és Szolgáltató Kft. from S.C. RCS & RDS S.A. on March 29, 2021. As of November 30, 2021 4iG Nyrt. (BUSE:4IG) signed an agreement to acquire DIGI Távközlési és Szolgáltató Kft. from S.C. RCS & RDS S.A. for HUF 232 billion.Pursuant to the terms, 4iG would acquire a 100% shareholding of S.C. RCS & RDS S.A. in Digi and its subsidiaries Invitel and I TV. In 2020, DIGI’s operations recorded consolidated revenues of HUF 70 billion and adjusted EBITDA of HUF 19 billion. The transaction is subject to due diligence, execution of definitive agreement and necessary competition authority approvals. The transaction is expected to complete by September 2021. The transaction is expected to close in January 2022, subject to regulatory clearance. Filip & Company acted as legal advisor to Digi Communications N.V. DIGI intends to use the HUF 232 billion in proceeds to pay off debt as well as further investments in other markets where it operates and potentially new markets in Western Europe.
4iG Nyrt. (BUSE:4IG) completed the acquisition of DIGI Távközlési és Szolgáltató Kft. on January 4, 2022. Announcement • Dec 10
4iG Nyrt. (BUSE:4IG) signed a final agreement to acquire 80.27% stake in ALBtelecom Sh.a. 4iG Nyrt. (BUSE:4IG) signed a final agreement to acquire 80.27% stake in ALBtelecom Sh.a on December 8, 2021. Çalik Holding will become an institutional investor in 4iG. The Albanian state will continue to exercise its minority ownership rights in the company through the Albanian Ministry of Finance and Economy (13.78%) and the Albanian Post (2.47%). The transaction is subject to the approval of the Albanian authorities and is expected to be closed in January 2022. Announcement • Sep 15
4iG Nyrt. (BUSE:4IG) agreed to acquire Invitech ICT Services Korlatolt Felelossegu Tarsasag from Rotamona Limited. 4iG Nyrt. (BUSE:4IG) agreed to acquire Invitech ICT Services Korlatolt Felelossegu Tarsasag from Rotamona Limited on September 13, 2021. For December 31, 2020, Invitech reported revenue of HUF 24.8 billion and its EBITDA of HUF 9.0 billion. The transaction completion remains subject to the consent of the Hungarian Competition Authority. Reported Earnings • Sep 06
Second quarter 2021 earnings released: Ft0.93 loss per share (vs Ft5.45 profit in 2Q 2020) The company reported a mediocre second quarter result with weaker earnings and weaker control over costs, although revenues improved. Second quarter 2021 results: Revenue: Ft17.1b (up 48% from 2Q 2020). Net loss: Ft87.2m (down 121% from profit in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 72% per year but the company’s share price has increased by 143% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Aug 31
Investor sentiment improved over the past week After last week's 25% share price gain to Ft806, the stock trades at a trailing P/E ratio of 19.8x. Average forward P/E is 24x in the IT industry in Europe. Total returns to shareholders of 1,137% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Ft1,070 per share. Announcement • Aug 05
Albtelecom Reportedly Up for Sale ALBtelecom Sh.a contracted consulting company EY for this process, which is still at an early stage and has no deadline for completion. Two companies have so far expressed interest in acquiring ALBtelecom, one of which is the 4iG Nyrt. (BUSE:4IG). Upcoming Dividend • Jul 09
Upcoming dividend of Ft22.49 per share Eligible shareholders must have bought the stock before 16 July 2021. Payment date: 26 July 2021. Trailing yield: 3.5%. Lower than top quartile of Hungarian dividend payers (5.0%). Higher than average of industry peers (1.6%). Announcement • Jun 16
4iG in Talks to Buy 51% Stake in Spacecom 4iG Nyrt. (BUSE:4IG) is negotiating to buy 51% of Space-Communication Ltd. (TASE:SCC) through a private placement of shares. The two companies have signed a non-binding memorandum of understanding. Spacecom operates the Amos fleet of satellites. If the deal is completed, the price will be ILS 215 million, or ILS 8.5 per share. This represents a premium of 68% over Spacecom's average share price on the Tel Aviv Stock Exchange in the past six months, and of 46% over its closing price yesterday. Completion of the deal depends on finalization of the negotiations, due diligence, regulatory approvals, including by Israel's Ministry of Communications, approval by Spacecom's shareholders, consent of third parties as required, and the signing of binding agreements including a deal for provision of services by Spacecom to iG4. Under the MOU, the deadline for signing the deal is mid-August 2021. Reported Earnings • May 29
First quarter 2021 earnings released: EPS Ft6.10 (vs Ft3.40 in 1Q 2020) The company reported a solid first quarter result with improved earnings and revenues, although profit margins were weaker. First quarter 2021 results: Revenue: Ft15.3b (up 77% from 1Q 2020). Net income: Ft595.7m (up 65% from 1Q 2020). Profit margin: 3.9% (down from 4.2% in 1Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 87% per year but the company’s share price has increased by 101% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 27
4iG Plc. Approves Dividend for 2020 The Board of Directors of 4iG Plc., on the annual ordinary general meeting, made decision on the payment of 2.212 billion Hungarian Forint dividend for the business year of 2020. The Board of Directors makes the decision on the exact time of dividend payment later, with that, the dividend payment should be performed until 31 December 2021, the latest. Reported Earnings • Mar 04
Full year 2020 earnings released: EPS Ft36.73 (vs Ft31.54 in FY 2019) The company reported a solid full year result with improved earnings and revenues, although profit margins were weaker. Full year 2020 results: Revenue: Ft57.7b (up 40% from FY 2019). Net income: Ft3.34b (up 16% from FY 2019). Profit margin: 5.8% (down from 7.0% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 99% per year but the company’s share price has increased by 145% per year, which means it is tracking significantly ahead of earnings growth. Analyst Estimate Surprise Post Earnings • Mar 04
Revenue beats expectations Revenue exceeded analyst estimates by 6.1%. Over the next year, revenue is forecast to grow 7.5% compared to a 3.2% decline forecast for the IT industry in Europe. Announcement • Feb 25
4iG Nyrt. (BUSE:4IG) signed a preliminary agreement to acquire 75% stake in Hungaro DigiTel Kft. from Antenna Hungária Zrt. and Portuguese Telecommunication Investments Kft. 4iG Nyrt. (BUSE:4IG) signed a preliminary agreement to acquire 75% stake in Hungaro DigiTel Kft. from Antenna Hungária Zrt. and Portuguese Telecommunication Investments Kft. on February 23, 2021. As per the transaction, Antenna Hungária Zrt. will transfer its 25% stake and Portuguese Telecommunication Investments Kft. will transfer its 50% stake in Hungaro DigiTel Kft. to 4iG Nyrt. As on December 31, 2020, Hungaro DigiTel Kft. generated revenue of HUF 5.2 billion and EBITDA of HUF 3.1 billion. The transaction is subject to conclusion of the final share sale and purchase agreement and approval by Hungarian Competition Authority. Is New 90 Day High Low • Feb 15
New 90-day high: Ft654 The company is up 20% from its price of Ft543 on 17 November 2020. The Hungarian market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the IT industry, which is up 14% over the same period. Announcement • Jan 28
4iG Nyrt. (BUSE:4IG) acquired 24% stake in Rotors & Cams Ltd. 4iG Nyrt. (BUSE:4IG) signed the share sale and purchase agreement to acquire 24% stake in Rotors & Cams Ltd. on January 26, 2021. In 2020, the revenue of Rotors & Cams amounted to HUF 4 billion.
4iG Nyrt. (BUSE:4IG) completed the acquisition of 24% stake in Rotors & Cams Ltd. on January 26, 2021. Announcement • Jan 09
Extraordinary Notice of 4iG PLC on the Conclusion of A High-Value Contract 4iG PLC and Ministry of Foreign Affairs and Trade were signed a contract for the manufacturer support and version control of the Ministry's unite firewall and cyber defense system. The services of this contract covered both the Budapest based central equipments and the firewall and cyber defense system of the foreign representations. The contract is a fix-termed contract, lasts until December 31, 2023. The procedure was an exempt procedure based on the resolution 30/2020 (VII.3.) of the National ecurity Committee of the Parliament. The value of the contract is: HUF 772,778,000 + VAT. Reported Earnings • Nov 30
Third quarter 2020 earnings released: EPS Ft12.84 The company reported a soft third quarter result with weaker earnings and profit margins, although revenues were improved. Third quarter 2020 results: Revenue: Ft13.4b (up 28% from 3Q 2019). Net income: Ft1.10b (down 1.2% from 3Q 2019). Profit margin: 8.2% (down from 11% in 3Q 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 110% per year but the company’s share price has increased by 149% per year, which means it is tracking significantly ahead of earnings growth. Is New 90 Day High Low • Nov 29
New 90-day high: Ft642 The company is up 1.0% from its price of Ft633 on 31 August 2020. The Hungarian market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the IT industry, which is up 6.0% over the same period. Valuation Update With 7 Day Price Move • Nov 24
Market bids up stock over the past week After last week's 18% share price gain to Ft634, the stock is trading at a trailing P/E ratio of 18.8x, up from the previous P/E ratio of 15.9x. This compares to an average P/E of 22x in the IT industry in Europe. Total returns to shareholders over the past three years are 1,546%. Is New 90 Day High Low • Oct 16
New 90-day low: Ft574 The company is down 5.0% from its price of Ft607 on 17 July 2020. The Hungarian market is down 7.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the IT industry, which is up 5.0% over the same period. Announcement • Sep 26
4iG Nyrt. (BUSE:4IG) entered into a binding offer to acquire 70% stake in Innobyte Informatikai Zartkoruen Mukodo Reszvenytarsasag. 4iG Nyrt. (BUSE:4IG) entered into a binding offer to acquire 70% stake in Innobyte Informatikai Zartkoruen Mukodo Reszvenytarsasag on September 24, 2020. As a part of the transaction, 4iG will acquire 70% stake in Innobyte and its subsidiary collectively known as group. For the year ended December 31, 2019, the group reported turnover of more than HUF 3.3 billion and EBITDA of HUF 447 million. The offer was accepted by the shareholders of INNObyte. The due diligence phase of the transaction has been completed, during which 4iG and its advisors performed due diligence of INNObyte Group. The sale and purchase agreement will be concluded by the parties until mid-October, after which 4iG will acquire a 70% ownership and control in INNObyte. Announcement • Sep 21
4iG Nyrt.(BUSE:4IG) dropped from S&P Global BMI Index 4iG Nyrt.(BUSE:4IG) dropped from S&P Global BMI Index