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Key strengths

Market leading businesses with strong brand recognition with high quality networks

  • Stable market leading positions across 5 European markets
  • #1 to #2 positions in most retail markets by both revenue and customer share
  • Quality brand positioning in all markets
  • High quality mobile networks with full coverage
  • National fixed network infrastructure in Czechia

Stable markets with positive trends supporting growth

  • Very stable and supportive macroeconomic environment in Czechia and Slovakia
  • Positive macroeconomic trend in investment grade Hungary and Bulgaria with much faster consumer spending growth than in the rest of Europe
  • Predictable regulatory environment in all markets
  • Moderate intensity of the competition in all markets with relatively stable market shares and ARPUs
  • Growing demand for data and multi-play propositions in all regions
  • Track record of stable performance in all markets

Diversified, strong and stable cash flow generation

  • EBITDA generation well diversified across 6 independent streams
  • Group cash conversion rate historically around 50%
  • Very strong interest coverage ratios, both at consolidated group level and at PPF Telecom Group level

Structurally separated services to end users and wholesale network infrastructure services.

  • The Group pioneered structural separation in Europe since 2015
  • Operations organised in two divisions:
    • telecommunication services division providing services to end users and
    • infrastructure division owning and operating telecommunication networks on a wholesale basis