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NFON (NFN)

Business description

Founded in 2007 NFON is the only pan-European Cloud PBX operator. It provides telephony services via the internet to 288k seats at more than 15,000 businesses in 13 European countries, including Germany, Austria, the UK and Spain. Listed in H118 NFON has 216 staff and 1,100 sales partners

Pan-European Cloud PBX

QuickView | Technology | 19/11/2018

NFON is leader of the German multi-tenant PBX market, with a more than 25% market share as well as being the only European Cloud PBX player with a pan-European presence. European demand for cloud-based hosted PBX/IPCentrix systems should grow strongly to 2025 as the telecom sector switches to All IP systems. NFON’s advantages of scale, in-house IP, high recurring revenues and €50m new IPO funding provide the group with the tools to pursue its ambition to dominate the European market. On a FY19e EV/sales of 1.8x, the stock trades at a 43% multiple discount to its peers.

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