CEO Daniel Krook emphasised the increased growth focus for H1... ... and margin-focus (price hikes) in H2e 13x-10x '25e-'26e EV/EBITA, and 7-8% lease adj. FCF yields
Short-term pain for long-term gain
Today, we hosted Daniel Krook, the CEO of Bredband2, at ABGSC's Investor Days. A significant part of the discussion centred on the company's intensified commitment to growth, with the initiation of substantial marketing initiatives in Q1 to enhance customer adds. With an increase of 5,000 customers q-o-q in Q1 (compared to Bahnhof's increase of 2,100), solid results have already been achieved. Mr Krook emphasised that similar dynamics are expected in Q2, after which margins will take centre stage again in H2 and into 2026. While gross margins held up well in Q1, Mr Krook mentioned that they could come under some pressure in Q2, before potentially improving in subsequent quarters thanks to price increases and a better sales mix, given the good momentum recently seen in its B2B business.