Brief: Sýn: Lowers EBITDA Guidance For 2018 And 2019

Syn hf

04/12/2018 08:18

Dec 4 (Reuters) - Syn hf  SYN.IC :
    * REG-SÝN HF. : SÝN -LOWERING OF EBITDA GUIDANCE FOR 2018
AND 2019
    * GUIDANCE FOR 2018 IS LOWERED BY 150 M KR. BOTH DUE TO
PROSPECTS
OF HIGHER COSTS AND LOWER REVENUES THAN EXPECTED
    * GUIDANCE IS THEREBY 3.450M KR. OF REGULAR OPERATIONS
INSTEAD OF
3.600M KR., THAT WAS ANNOUNCED ON NOVEMBER 1ST
    * HIGHER COSTS THAN ANTICIPATED ARE AFFECTING THE RESULT
    * GIVEN THE CHANGE IN GUIDANCE FOR 2018 THE FORECAST FOR
2019 HAS
BEEN UPDATED AND LOWERED TO 3,9-4.4BN FROM 4.6 TO 5.0BN
    * COSTS IN RELATION TO TELECOMMUNICATION SYSTEM AND CONTENT
COSTS
THAT WAS ABOVE BUDGET
    * ASSUMPTION IS ALSO THAT REVENUES WILL BE LOWER THAN
ANTICIPATED.
    * MERGER PROJECT HAS HAD MORE EFFECT ON THE COMPANY THAN
PLANNED
    * REASON FOR LOWER REVENUES IS LINKED TO A MIX OF
UNCERTAINTY IN
THE ECONOMY AND TOUGH COMPETITION
    * SAYS MERGER PROJECT HAS HAD MORE EFFECT ON THE COMPANY
THAN
PLANNED.
    * REASONS FOR  LOWER FORECAST IS ANTICIPATION THAT TOUGH
COMPETITION WILL CONTINUE INTO 2019 WITH PRESSURE ON PRICES AND
INCREASED SALES COSTS
    * EBITDA 2019: ISK 3,900M – 4,400M
    * EBITDA 2020: ABOVE ISK 4.400M

Source text for Eikon:  ID:nGNE3czbXl 
Further company coverage:  SYN.IC 

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