Iliad S.A.

Iliad is an operator in the French internet access & telecommunications markets. Co. divides its operations into three business segments: Broadband, Traditional Telephony, and Retail Telecom. Broadband includes Internet service provider operations, hosting services, user assistance operations & operations related to the rollout of the FTTH (fiber-to-the-home) network. Traditional Telephony includes switched landline telephony (One.Tel and Iliad Telecom), directory services (mainly the ANNU reverse look-up directory accessible by Minitel, telephone, Internet and SMS text messaging) and e-commerce operations (Assunet.com). Retail Telecom offers various mobile phones & services to customers.
  • TickerILD
  • ISINFR0004035913
  • ExchangeEuronext Paris
  • SectorSoftware & Computer Services
  • CountryFrance

Analysts

Jérôme VINERIER

Short term view - ILIAD SA : Rising consolidation.

The background trend is clearly bearish. The negative MACD confirms the trend. The rise is a consolidation that will soon bump against the level at €114.90. The next target is at €88.71, then €78.81. Passing €130.50 would question the continuation of the fall.

Jérôme VINERIER

Analyse court terme - ILIAD SA : La reprise est une consolidation.

La tendance de fond est clairement orientée à la baisse. Le MACD est négatif, il confirme cette tendance. La reprise est une consolidation qui va buter sur 114,90 € prochainement. Le prochain objectif est à 88,71 €, puis 78,81 €. Le franchissement de 130,50 € remettrait en cause la suite de la baisse.

Jérôme VINERIER

Short term view - ILIAD SA : The background trend is clearly bearish.

The background trend is clearly bearish. The movement goes on. The next target is at €88.71, then €78.81. Passing €130.50 would question the continuation of the fall.

Jérôme VINERIER

Analyse court terme - ILIAD SA : La tendance de fond est clairement orientée à la baisse.

La tendance de fond est clairement orientée à la baisse. Le mouvement se poursuit. Le prochain objectif est à 88,71 €, puis 78,81 €. Le franchissement de 130,50 € remettrait en cause la suite de la baisse.

Alexandre Iatrides ...
  • Rémi Adam

ODDO : Everything you always wanted to know about 5G but were afraid to ask

For the moment, 5G has generated more anxiety than real enthusiasm among investors. Our analysis suggests a smooth transition for capex, but that the incident with the spectrum auctions might weigh on sentiment. We favour the German market if the absence of a fourth player is confirmed on 26 November. Deutsche Telekom (Buy, target price € 17.7) is our Top Pick. - >What is at stake with 5G? - While operators are starting to suggest the launch of 5G packages as of 2019, ...

Pierre François Merveille

Iliad : A new bond to finance growth in Italy

>Iliad plans to issue a new bond with a seven-year maturity - Iliad (Oddo Shadow rating: BBB+/Stable) intends to issue a new benchmark bond with a seven-year maturity. Crédit Agricole CIB and Société Générale are the leads on this bond issue, whose proceeds will be used for general purposes, according to the group. We think they will mainly serve to finance the group's growth in Italy.Stable credit opinion maintained - Iliad enjoys strong earnings momentum in France and, despite a slowdown in top-line growth and net subscriber adds, profitability should improve thanks to economies of scale in...

Pierre François Merveille

Iliad : Une nouvelle obligation pour financer le développement en Italie

>Iliad souhaite émettre une nouvelle obligation à échéance 7 ans - Iliad (Shadow rating Oddo : BBB+/Stable) compte émettre une nouvelle souche obligataire benchmark d’une maturité de 7 ans. Crédit Agricole CIB et Société Générale sont les leads sur cette émission, dont le produit servira à des fins générales selon le groupe. Nous pensons qu’il sera essentiellement destiné à financer le développement du groupe en Italie.Nous conservons notre avis crédit Stable - Iliad profite d’une bonne dynamique de ses résultats en France, et même si les gains nets d’abonnés ont ralenti, le groupe devrait bé...

Alexandre Iatrides ...
  • Rémi Adam

ODDO : Everything you always wanted to know about 5G but were afraid to ask

For the moment, 5G has generated more anxiety than real enthusiasm among investors. Our analysis suggests a smooth transition for capex, but that the incident with the spectrum auctions might weigh on sentiment. We favour the German market if the absence of a fourth player is confirmed on 26 November. Deutsche Telekom (Buy, target price € 17.7) is our Top Pick. - >What is at stake with 5G? - While operators are starting to suggest the launch of 5G packages as of 2019, ...

Alexandre Iatrides ...
  • Rémi Adam

ODDO : Tout ce que vous avez toujours voulu savoir sur la 5G (sans jamais oser le demander)

La 5G génère pour l’heure plus d’anxiété qu’un réel engouement auprès des investisseurs. Notre analyse nous conduit à penser que la transition se fera en douceur sur les Capex mais que l’épisode des enchères de spectre risque de peser sur le sentiment. Nous privilégions l’Allemagne si le 26/11 confirme l'absence de 4e acteur. Deutsche Telekom (Achat, OC 17.7 €) est notre top pick. - >Les enjeux de la 5G - Alors que les opérateurs commencent à suggérer des lancements d’...

Allan C. Nichols

Morningstar | Italy’s Spectrum Auction Ended With High Bids; We’re Lowering Our FVE for Telecom Italia and Iliad

The latest Italian spectrum auction ended on Oct. 2 with total bids of EUR 6.55 billion, much higher than we anticipated. After reviewing the impact on our models, we are reducing our fair value estimate for Telecom Italia to EUR 0.89 per share from EUR 0.98, and for Iliad to EUR 143 per share from EUR 163. We are maintaining our fair value estimates of GBX 250 per share for Vodafone, CHF 470 per share for Swisscom, and HKD 118 for CK Hutchison. We are maintaining our no-moat rating on Hutchison and our narrow moat ratings on the others. There were three tranches of spectrum in the auction: 7...

Allan C. Nichols

Morningstar | Italy’s Spectrum Auction Ended With High Bids; We’re Lowering Our FVE for Telecom Italia and Iliad. See Updated Analyst Note from 03 Oct 2018

The latest Italian spectrum auction ended on Oct. 2 with total bids of EUR 6.55 billion, much higher than we anticipated. After reviewing the impact on our models, we are reducing our fair value estimate for Telecom Italia to EUR 0.89 per share from EUR 0.98, and for Iliad to EUR 143 per share from EUR 163. We are maintaining our fair value estimates of GBX 250 per share for Vodafone, CHF 470 per share for Swisscom, and HKD 118 for CK Hutchison. We are maintaining our no-moat rating on Hutchison and our narrow moat ratings on the others. There were three tranches of spectrum in the auction: 7...

Allan C. Nichols

Italy’s Spectrum Auction Ended With High Bids; We’re Lowering Our FVE for Telecom Italia and Iliad

The latest Italian spectrum auction ended on Oct. 2 with total bids of EUR 6.55 billion, much higher than we anticipated. After reviewing the impact on our models, we are reducing our fair value estimate for Telecom Italia to EUR 0.89 per share from EUR 0.98, and for Iliad to EUR 143 per share from EUR 163. We are maintaining our fair value estimates of GBX 250 per share for Vodafone, CHF 470 per share for Swisscom, and HKD 118 for CK Hutchison. We are maintaining our no-moat rating on Hutchison...

1 director bought

A director at Iliad Sa bought 3,000 shares at 113.050EUR and the significance rating of the trade was 62/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board mem...

James Ratzer

Global TMT: TSLA, AVGO, Italy, S, CHTR, LBTY, ATC, BT

Global TMT: TSLA, AVGO, Italy, S, CHTR, LBTY, ATC, BT James Ratzer 5

James Ratzer

Global TMT: NTT, TSLA, CMCSA, Italy, ILD

Global TMT: NTT, TSLA, CMCSA, Italy, ILD James Ratzer 5

Alexandre Iatrides ...
  • Bruno Cavalier
  • Olfa Taamallah
  • Rémi Adam
  • Stephane Houri
  • Vincent Maulay
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 09/17/2018

We believe the insurance sector will continue to generate positive earnings momentum based on improving technical profits, gradual interest rate hikes and ongoing share buybacks. In light of these considerations the sector valuation seems undemanding and we expect a decrease in the cost of capital applied to the sector. Our Top Picks are AXA, Generali, Munich Re and Talanx. - ...

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Pierre François Merveille

Iliad : Spending spree at Italy’s 5G spectrum auction

>Bids were much above expectations - Italy's 5G spectrum auction closed on Tuesday at the end of the 14th auction day, and is expected to raise € 6.55bn for the Italian government:. Telecom Italia and Vodafone will pay around € 2.4bn each for 2x10 MHz in the 700 MHz band, 80 MHz in the 3.7 GHz band and 200 MHz in the 26 GHz band; . Iliad will spend € 1.19bn for 2x10 MHz in the 700 MHz band, 20 MHz in the 3.7 GHz band and 200 MHz in the 26 GHz band; . ...

Pierre François Merveille

Iliad : Spending spree at Italy’s 5G spectrum auction

>Bids were much above expectations - Italy's 5G spectrum auction closed on Tuesday at the end of the 14th auction day, and is expected to raise € 6.55bn for the Italian government:. Telecom Italia and Vodafone will pay around € 2.4bn each for 2x10 MHz in the 700 MHz band, 80 MHz in the 3.7 GHz band and 200 MHz in the 26 GHz band; . Iliad will spend € 1.19bn for 2x10 MHz in the 700 MHz band, 20 MHz in the 3.7 GHz band and 200 MHz in the 26 GHz band; . ...

Thomas Coudry

Telecom services: Market data indicates very poor Bouygues + Iliad net adds in Q2

Telecom services Market data indicates very poor Bouygues + Iliad net adds in Q2 ARCEP’s latest mobile observatory published yesterday shows a sharp slowdown of postpaid market growth in Q2. Given the good numbers published by Orange and SFR, we forecast very poor mobile nets adds for Iliad and Bouygues Telecom cumulated in Q2. Nothing good to expect from the publications, but definitely another catalyst for consolidation.

Anaïs Dudout

Proxy Report - 16/05/2018

Proxinvest notes that remuneration for the Chairman, as well as for all the executives, has risen significantly due to the introduction of a long-term component (performance shares) in 2017. Having introduced a long-term component is a positive point for executives; however, this is contrary to Proxinvest voting policy regarding a Chairman’s remuneration (Resolution 10 to 17). Moreover, the performance period over which the performance conditions are assessed should be extended: Proxinvest considers that a minimum period of three-years should apply. Performance shares will vest in three unequ...

Anaïs Dudout

Proxy Report - 16/05/2018

Proxinvest note l'augmentation sans précédent de la rémunération des dirigeants de la Société au titre de l'exercice 2017 (Résolutions 10 à 17) : si le versement d'une rémunération actionnariale (sous forme d'attribution d'actions de performance) est appréciable s'agissant des dirigeants exécutifs de la société, elle ne l'est absolument pas pour le Président du Conseil d'administration. D'une manière générale, le montant de l'attribution apparaît excessif et déséquilibre la structure de la rémunération des dirigeants. Si l'instauration d'une rémunération actionnariale est un point positif, le ...

Etude de l'AG du 17/05/2017

We approve the proposed dividend of €0.44. Although not covered by free cash flow, the payout ratio is relatively low.Under the 2017 remuneration policy, the Company has the possibility to implement a variable compensation scheme for its executive directors. The current fixed-only structure is contrary to best practice as it does not compensate executives for longterm performance.

Etude de l'AG du 17/05/2017

Proxinvest approuve la proposition de dividende de 0,44 €. En effet, la distribution n'étant pas couverte par les flux de trésorerie libre, cela justifie un dividende peu élevé (0,86% des fonds propres). Dans la politique de rémunération de 2017, la société émet la possibilité de mettre en place une rémunération variable de long terme pour ses dirigeants, ce qui serait souhaitable selon Proxinvest. En effet, la structure actuelle de la rémunérations des dirigeants n'est pas satisfaisante car elle n'est composée que d'une rémunération fixe, ce qui exclu tout lien avec la performance du groupe.

Jérôme VINERIER

Short term view - ILIAD SA : Rising consolidation.

The background trend is clearly bearish. The negative MACD confirms the trend. The rise is a consolidation that will soon bump against the level at €114.90. The next target is at €88.71, then €78.81. Passing €130.50 would question the continuation of the fall.

Jérôme VINERIER

Analyse court terme - ILIAD SA : La reprise est une consolidation.

La tendance de fond est clairement orientée à la baisse. Le MACD est négatif, il confirme cette tendance. La reprise est une consolidation qui va buter sur 114,90 € prochainement. Le prochain objectif est à 88,71 €, puis 78,81 €. Le franchissement de 130,50 € remettrait en cause la suite de la baisse.

Jérôme VINERIER

Short term view - ILIAD SA : The background trend is clearly bearish.

The background trend is clearly bearish. The movement goes on. The next target is at €88.71, then €78.81. Passing €130.50 would question the continuation of the fall.

Jérôme VINERIER

Analyse court terme - ILIAD SA : La tendance de fond est clairement orientée à la baisse.

La tendance de fond est clairement orientée à la baisse. Le mouvement se poursuit. Le prochain objectif est à 88,71 €, puis 78,81 €. Le franchissement de 130,50 € remettrait en cause la suite de la baisse.

Valérie GASTALDY

Medium term view - ILIAD SA : The background trend is clearly bearish.

The background trend is clearly bearish. The movement goes on. The next target is at €89.54, then €73.31. Passing €151.26 would question the continuation of the fall.

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