Infonie in F, bei SocGen auf buy - 500 Beiträge pro Seite

[dotter]

Infonie ist am neuen markt in Paris notiert und von SocGen auf buy gesetzt worden. Auszüge aus der Analyse: EPS 98 -4.1, 99 -1.48, 2000 0.91, damit pe 2000 mit 19.6, nicht schlecht für ein Internet Service Provider. Hat einer mehr Info über die Company ?

[minuswill]

WO GIBT ES DENN DIESE Anlaysw

[dotter]

der analyst heißt Cyril Vial, text der analyse wird heute abend ins board geschickt

[www.com]

Infonie
22/4/1999
Buy(maintd); Price: EUR17.8
High-Low 12 m.32.5-13.0 EUR/Share
1998 1999e 2000e
EPS -4.1 -1.48 0.91
-3.79 -0.50 1.04
P/E NA NA 19.6
Reuters: INFO.LN

Turnover 98 Rep. Earnings 98 Market capitalisation Float
EUR11.3m (+174%) EUR -11.6m (EUR -17.8m in 97) EUR50m EUR18m
Year ending 31 December

A successful move that is worth repeating
Q4 sales rose a massive 98% to EUR4.07m (FF26.73m) from the previous year. The group continues to gain momentum, with quarterly sales growth of 19% in Q4 98.

Quarterly turnover
Q1 98 Q2 98 Q3 98 Q4 98 Q1 99

Turnover13.5 16.8 19.9 23.7 26.7
%ch.(yoy)287.5 341.8 164.3 97.3 98.5
%ch.(by quarter)24.9 18.5 18.9 12.8

This performance can be attributed to several factors:
 The „PC Pack/Internet“ special offer via major retailers was a big success and over 15,000 contracts were signed with this formula. The advantage of this offer is that it ensures subscriber loyalty via a 2-year contractual subscription. The success of this operation is largely due to the attractive entry-level prices of the associated hardware, which made it possible to reach a much broader customer base. The offer will undoubtedly be repeated and expanded. The initial offer was launched with the Casino chain of stores, but will now be offered at Auchan and Continent as well. Related revenues (excluding subscription fees) are also on the increase. The group’s strategy is to create a subscriber base and then to enhance its value through two methods:
 The offer of complementary services to subscribers, such as „via le 2“ telephone services and the upcoming launch of a private smart card.
 The generation of additional revenues through the group’s divisions, including advertising space brokering and advertising revenues obtained via Lokace, a search engine that is destined to become a veritable gateway, in addition to its participation in Caramail.
Whilst subscription revenues rose 86%, advertising revenues on Infonie products were up 271% and income from electronic trading with external sites increased 99%.
In order to rapidly achieve this strategy of winning over subscribers, the „PC Pack/Internet“ package combined with complementary service offers seems to be the best means of creating a more attractive subscriber base built on profitability and customer loyalty. This is a more attractive alternative to the traditional strategy of massive advertising investments, which is the exclusive domain of sector giants like Wanadoo, AOL/Havas On-Line, and even Club-Internet. To pursue this strategy and to rebuild its initial capital, the group is currently launching its third new share issue for a total of EUR11.7m (FF77m). This issue is partially guaranteed by the chairman and also covered by the compensation of claims in favour of Interactive Partners (IP), a holding company with a controlling interest in Infogrames.
Infonie is gradually bringing together all of the components necessary to take advantage of the expected explosion of the Internet.
Despite the extreme volatility of Internet stocks, we are maintaining our Buy rating for investors who are aware of the risks.