Atresmedia

Atresmedia Corporacion De Medios De Comunicacion is a television and radio broadcasting company based in Spain. Co. is engaged in the indirect management of television and radio services, which include the broadcasting, creation, production and distribution of television and radio programming, and the sale of advertising time. Group companies mainly carry on business activities relating to the production, copying and broadcasting of sounds and images, and TV and Internet home shopping. Co. provides National and World Digital Television Services. Co. is the parent company of Grupo Antena 3.
  • TickerA3TV
  • ISINES0109427734
  • ExchangeMadrid Stock Exchange
  • SectorMedia
  • CountrySpain
Ahmed Ben Salem ...
  • Alain William
  • Alfred Glaser
  • Antoine Boivin-Champeaux
  • Baptiste Lebacq
  • Benoit Valleaux
  • Bruno Cavalier
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Emmanuel Matot
  • Geoffroy Michalet
  • Jean Sassus
  • Jerôme Bodin
  • Louis Boujard, CFA
  • Olfa Taamallah
  • Philippe Ourpatian
  • Pierre Tegner
  • Roland Pfaender,MBA,CFA,CCRA
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/04/2020

...

Ahmed Ben Salem ...
  • Alain William
  • Alfred Glaser
  • Antoine Boivin-Champeaux
  • Baptiste Lebacq
  • Benoit Valleaux
  • Bruno Cavalier
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Emmanuel Matot
  • Geoffroy Michalet
  • Jean Sassus
  • Jerôme Bodin
  • Louis Boujard, CFA
  • Olfa Taamallah
  • Philippe Ourpatian
  • Pierre Tegner
  • Roland Pfaender,MBA,CFA,CCRA
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 04/05/2020

...

Jerôme Bodin

ODDO : Spanish advertising market currently down 50%

>Mediaset España: advertising revenues down 9% in Q1 - On Thursday, Mediaset España reported Q1 2020 results that were broadly higher than forecast, with revenues up 1.7% to € 229.8m. Our takeaways: 1/ advertising revenues dropped 9.1% to € 194.4m (ODDO BHF: -8%). The group’s share of the TV advertising market came to 43.7% (+92bp); 2/ other revenues showed a sharp increase to € 35.4m (vs € 12.1m in Q1 2019) due to brisk rights sales, growth in the subscriber base at ...

Jerôme Bodin

ODDO : Un marché publicitaire espagnol en baisse de 50% actuellement

>Mediaset España : baisse de 9% du CA publicitaire au T1 - Mediaset España a publié jeudi des résultats du T1 2020 globalement supérieurs aux attentes, avec un CA en progression de 1,7% à 229,8 M€. Nous retenons : 1/ le CA publicitaire baisse de 9,1% à 194,4 M€ (ODDO BHF : -8%). Sa PdM publicitaire TV est de 43,7% (+92 pb) ; 2/ les autres revenus progressent fortement à 35,4 M€ (vs 12,1 M€ au T1 2019) en raison de ventes de droits soutenues, de la croissance de la bas...

Andres Bolumburu

ATRESMEDIA: MENSAJES DE LA CONFERENCE CALL RDOS. 1T’20 (ANÁLISIS BANCO SABADELL)

Adjuntamos los principales mensajes del conference call de Rdos.:  Mercado publicitario: El mensaje sobre lo visto desde finales de marzo y abril (caídas de c.-50%) así como el hecho de esperar que la situación vaya mejorando desde mediados de mayo’20 coincide con lo dicho por Mediaset España. Afirman que la recuperación del mercado dependerá de como de rápido se retome la actividad económica, por lo que la situación sigue siendo incierta. Se muestran algo más optimistas en cuanto al mercado de radio por tener más componente local que se vería beneficiado por la “desescalada” gradual por prov...

Jerôme Bodin

ODDO : Spanish advertising market currently down 50%

>Mediaset España: advertising revenues down 9% in Q1 - On Thursday, Mediaset España reported Q1 2020 results that were broadly higher than forecast, with revenues up 1.7% to € 229.8m. Our takeaways: 1/ advertising revenues dropped 9.1% to € 194.4m (ODDO BHF: -8%). The group’s share of the TV advertising market came to 43.7% (+92bp); 2/ other revenues showed a sharp increase to € 35.4m (vs € 12.1m in Q1 2019) due to brisk rights sales, growth in the subscriber base at ...

Jerôme Bodin

ODDO : Un marché publicitaire espagnol en baisse de 50% actuellement

>Mediaset España : baisse de 9% du CA publicitaire au T1 - Mediaset España a publié jeudi des résultats du T1 2020 globalement supérieurs aux attentes, avec un CA en progression de 1,7% à 229,8 M€. Nous retenons : 1/ le CA publicitaire baisse de 9,1% à 194,4 M€ (ODDO BHF : -8%). Sa PdM publicitaire TV est de 43,7% (+92 pb) ; 2/ les autres revenus progressent fortement à 35,4 M€ (vs 12,1 M€ au T1 2019) en raison de ventes de droits soutenues, de la croissance de la bas...

Andres Bolumburu

ATRESMEDIA: MENSAJES DE LA CONFERENCE CALL RDOS. 1T’20 (ANÁLISIS BANCO SABADELL)

Adjuntamos los principales mensajes del conference call de Rdos.:  Mercado publicitario: El mensaje sobre lo visto desde finales de marzo y abril (caídas de c.-50%) así como el hecho de esperar que la situación vaya mejorando desde mediados de mayo’20 coincide con lo dicho por Mediaset España. Afirman que la recuperación del mercado dependerá de como de rápido se retome la actividad económica, por lo que la situación sigue siendo incierta. Se muestran algo más optimistas en cuanto al mercado de radio por tener más componente local que se vería beneficiado por la “desescalada” gradual por prov...

Andres Bolumburu

ATRESMEDIA: 1Q’20 RESULTS AND CHANGE OF T.P. TO UNDER REVISION (ANÁLISIS BANCO SABADELL)

1Q'20 vs. 1Q'19 Results: Sales: € 223.4 M (-13.2% vs. -12.2% BS(e)); EBITDA: € 35.9 M (-20.4% vs. -35.9% BS(e)); Net Profit: € 21.7 M (-24.4% vs. -35.2% BS(e)); The results came in above our estimates, mainly in EBITDA, thanks to the better cost control. 1Q’20 Sales came in at € 223.4 M (-13.2% vs. -12.2% BS(e)), with Audiovisual falling -12.5% (vs. -11.6% BS(e)) and a -20.3% drop in Radio (vs. -18.9% BS(e)). 1Q’20 OPEX fell -11.7% (vs. -9.3% BS(e)) to € 187.5 M, leaving 1Q’20 EBITDA at € 35.9 M (-20.4% vs. -35.9% BS(e)) and a margin of 16% (vs. 12.8% BS(e) and 15.6% in 1Q’19). The market cou...

Andres Bolumburu

ATRESMEDIA: RDOS. 1T’20 Y CAMBIO DE P.O. A BAJO REVISIÓN (ANÁLISIS BANCO SABADELL)

Rdos. 1T'20 vs 1T'19: Ventas: 223,4 M euros (-13,2% vs -12,2% BS(e)); EBITDA: 35,9 M euros (-20,4% vs -35,9% BS(e)); BDI: 21,7 M euros (-24,4% vs -35,2% BS(e)). Rdos. por encima de nuestras estimaciones principalmente en EBITDA por mayor control de costes. Las ventas 1T'20 se sitúan en 223,4 M euros (-13,2% vs -12,2% BS(e)) con una caída del -12,5% en Audiovisual (vs -11,6% BS(e)) y un deterioro del -20,3% en Radio (vs -18,9% BS(e)). El OPEX 1T'20 se reduce un -11,7% (vs -9,3% BS(e)) hasta los 187,5 M euros dejando un EBITDA 1T'20 de 35,9 M euros (-20,4% vs -35,9% BS(e)) y un margen del 16% (...

Ahmed Ben Salem ...
  • Alain William
  • Alfred Glaser
  • Antoine Boivin-Champeaux
  • Baptiste Lebacq
  • Benoit Valleaux
  • Bruno Cavalier
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Emmanuel Matot
  • Geoffroy Michalet
  • Jean Sassus
  • Jerôme Bodin
  • Louis Boujard, CFA
  • Olfa Taamallah
  • Philippe Ourpatian
  • Pierre Tegner
  • Roland Pfaender,MBA,CFA,CCRA
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/04/2020

...

Ahmed Ben Salem ...
  • Alain William
  • Alfred Glaser
  • Antoine Boivin-Champeaux
  • Baptiste Lebacq
  • Benoit Valleaux
  • Bruno Cavalier
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Emmanuel Matot
  • Geoffroy Michalet
  • Jean Sassus
  • Jerôme Bodin
  • Louis Boujard, CFA
  • Olfa Taamallah
  • Philippe Ourpatian
  • Pierre Tegner
  • Roland Pfaender,MBA,CFA,CCRA
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 04/05/2020

...

Aurelien Sivignon ...
  • Charles Lepetitpas
  • Fatma Agnès Hamdani
  • Jean-François Granjon
  • Jerôme Bodin
  • Martial Descoutures
  • Oussema Denguir
  • Stephane Houri

ODDO BHF Small & MIDCAP MORNING NEWS - 03/31/2020

The pharma sector is once again playing its defensive role in times of crisis with an outperformance of 20% versus the market. Although it is not entirely immune to COVID-19, we believe that the impact will be limited. Some players such as Roche (Buy vs Neutral) or Sanofi (Buy) could even take advantage of new market opportunities. Conversely, Ipsen (Neutral) and Recordati (Neutral vs Buy) are companies to steer clear of on the COVID-19 theme. Cf. report published this morning. - - ...

Jerôme Bodin

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 03/31/2020

The pharma sector is once again playing its defensive role in times of crisis with an outperformance of 20% versus the market. Although it is not entirely immune to COVID-19, we believe that the impact will be limited. Some players such as Roche (Buy vs Neutral) or Sanofi (Buy) could even take advantage of new market opportunities. Conversely, Ipsen (Neutral) and Recordati (Neutral vs Buy) are companies to steer clear of on the COVID-19 theme. Cf. sector report published this morning...

Aurelien Sivignon ...
  • Charles Lepetitpas
  • Fatma Agnès Hamdani
  • Jean-François Granjon
  • Jerôme Bodin
  • Martial Descoutures
  • Oussema Denguir
  • Stephane Houri

ODDO BHF Small & MIDCAP MORNING NEWS - 31/03/2020

Le secteur Pharma montre à nouveau son visage défensif en temps de crise avec 20% de surperformance sur le marché YTD selon les indices STOXX 600 Europe. Bien qu’il ne soit pas totalement immun au COVID-19 nous jugeons que l’impact sera limité. Certains acteurs comme Roche (Achat vs Neutre) ou Sanofi (Achat) pourraient même profiter de nouvelles opportunités de marché. A contrario, Ipsen (Neutre) et Recordati (Neutre vs Achat) sont à éviter dans cette thématique. - Cf. étude publiée ce ...

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