JCDecaux S.A.

JC Decaux specializes in outdoor advertising. Co.'s business mainly consists of the sale of advertising space for these activities: Street Furniture, Transport Advertising and Billboard. The Street Furniture segment covers the advertising agreements relating to public property entered into with cities and local authorities. It also includes advertising in shopping centers, renting of street furniture, sale and rental of equipment, cleaning and maintenance. The Transport Advertising segment covers advertising in airports, subways, buses, tramways and trains. The Billboard segment covers advertising on private property and neon-type activity.
  • TickerDEC
  • ISINFR0000077919
  • ExchangeEuronext Paris
  • SectorMedia
  • CountryFrance

Moody's announces completion of a periodic review of ratings of JCDecaux S.A.

Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of JCDecaux S.A. Global Credit Research- 07 Aug 2020. Madrid, August 07, 2020-- Moody's Investors Service has completed a periodic review of the ratings of JCDecaux S.A. and other ratings that are associated with the same analytical unit.

Jerôme Bodin

JCDecaux : A better set of H1 figures but negotiations on fees remain a challenge

>More cautious estimates but we are still more optimistic than the consensus - JCDecaux yesterday held a conference call following its Q2 2020 results. Despite the operating margin beating our estimates for H1, we have revised our full-year expectations downwards given the prospect of potentially tougher-than-expected trends in H2 and particularly for Q4. We have also cut our scenario for the decline in fixed fees in street furniture (-€ 100m vs -€ 150m previously). T...

Jerôme Bodin

JCDecaux : S1 meilleur mais les négociations sur les redevances restent un enjeu

>Estimations plus prudentes mais plus optimistes que consensus - JCDecaux a tenu hier sa conférence téléphonique suite à ses résultats T2. Malgré une marge opérationnelle supérieure à nos attentes au S1, nos prévisions annuelles sont revues en baisse sous l’effet d’une tendance possiblement plus difficile que nous ne l’attendions sur le S2 et en particulier au T4. Nous avons par ailleurs abaissé notre hypothèse des redevances fixes dans le MU (-100 M€ vs -150 M€ précé...

Valérie GASTALDY

Short term view - JC DECAUX : The background trend is clearly bullish.

The background trend is clearly bullish. The correction is gaining traction. It is too early to qualify this action as a bearish reversal. The trend would be invalidated below the support at €25.60.

Valérie GASTALDY

Analyse court terme - JC DECAUX : La tendance de fond est clairement orientée à la hausse.

La tendance de fond est clairement orientée à la hausse. La correction en cours gagne en vigueur. Il est trop tôt pour parler de retournement baissier. La tendance serait invalidée sous le support à 25,60 €.

Valérie GASTALDY

Short term view - JC DECAUX : The trend is bearish.

The trend is bearish. The movement goes on. The next target is at €27.68, then €25.60. Passing €30.74 would question the continuation of the fall.

Valérie GASTALDY

Analyse court terme - JC DECAUX : La tendance est baissière.

La tendance est baissière. Le mouvement se poursuit. Le prochain objectif est à 27,68 €, puis 25,60 €. Le franchissement de 30,74 € remettrait en cause la suite de la baisse.

Valérie GASTALDY

Medium term view - JC DECAUX : The movement goes on.

The background trend is clearly bearish. The movement goes on. The next target is at €25.58, then €23.02. Passing €38.79 would question the continuation of the fall.

Jerôme Bodin

JCDecaux : A better set of H1 figures but negotiations on fees remain a challenge

>More cautious estimates but we are still more optimistic than the consensus - JCDecaux yesterday held a conference call following its Q2 2020 results. Despite the operating margin beating our estimates for H1, we have revised our full-year expectations downwards given the prospect of potentially tougher-than-expected trends in H2 and particularly for Q4. We have also cut our scenario for the decline in fixed fees in street furniture (-€ 100m vs -€ 150m previously). T...

Jerôme Bodin

JCDecaux : S1 meilleur mais les négociations sur les redevances restent un enjeu

>Estimations plus prudentes mais plus optimistes que consensus - JCDecaux a tenu hier sa conférence téléphonique suite à ses résultats T2. Malgré une marge opérationnelle supérieure à nos attentes au S1, nos prévisions annuelles sont revues en baisse sous l’effet d’une tendance possiblement plus difficile que nous ne l’attendions sur le S2 et en particulier au T4. Nous avons par ailleurs abaissé notre hypothèse des redevances fixes dans le MU (-100 M€ vs -150 M€ précé...

Jerôme Bodin

JCDecaux : A tough Q2 but better-than-expected margins and excellent FCF

>A difficult-to-forecast quarter in terms of profitability - JCDecaux's H1 2020 results, reported this morning, beat our expectations, with an organic decline in Q2 of 63.4% (vs -61% expected) and EBITDA of -€ 62m (vs -€ 185m est.). The group had not issued guidance for this quarter. The group seems to have been faster in its contract renegotiation than we expected. Unsurprisingly, business trends were very challenging in Q2 due to the lockdown measures implemented i...

Jerôme Bodin

JCDecaux : T2 difficile mais marge meilleure qu’attendu et très bon FCF

>Un trimestre qui était difficile à anticiper en rentabilité - JCDecaux a publié ce matin ses résultats S1 ressortis supérieurs à notre attente avec une baisse organique T2 de 63.4% (contre -61% attendus) et un EBITDA de -62 M€ (vs -185 M€e). Le groupe n’avait communiqué aucune guidance pour ce trimestre. Il semble que le groupe ait été plus rapide que nous ne l’attendions dans ses renégociations de contrats. Sans surprise, l’activité a été très difficile au T2 au re...

Stephane Houri

Accor : Digitisation post-COVID: what consequences for our sectors and stocks?

This cross-sector report from ODDO BHF equity research aims to identify the sectors and stocks positively affected by or at risk from an acceleration in the digitisation of society and the economy post COVID-19. We arrive at a list of 16 attractive stocks and 12 stocks that we see as being at risk. - >Accelerated digitisation, no turning back - The COVID-19 crisis will without a doubt accelerate use of digital in society in general. The effectiveness of teleworking has...

Moody's announces completion of a periodic review of ratings of JCDecaux S.A.

Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of JCDecaux S.A. Global Credit Research- 07 Aug 2020. Madrid, August 07, 2020-- Moody's Investors Service has completed a periodic review of the ratings of JCDecaux S.A. and other ratings that are associated with the same analytical unit.

JCDecaux S.A.: Update following confirmation of Baa2 rating with a negative outlook

Our credit view of JCDecaux S.A., reflecting the impact of the coronavirus outbreak and the macroeconomic downturn on the company's credit profile.

Moody's confirms JCDecaux's Baa2 ratings; outlook negative

Rating Action: Moody's confirms JCDecaux's Baa2 ratings; outlook negative. Global Credit Research- 24 Jun 2020. Madrid, June 24, 2020-- Moody's Investors Service, has today confirmed the Baa2 long term issuer rating and the Baa2 senior unsecured notes rating of JCDecaux S.A., the world's largest outdoor advertising company.

Moody's assigns Baa2 ratings to JCDecaux's new notes; ratings remain on review for downgrade

Rating Action: Moody's assigns Baa2 ratings to JCDecaux's new notes; ratings remain on review for downgrade. Global Credit Research- 21 Apr 2020. Madrid, April 21, 2020-- Moody's Investors Service, has today assigned a Baa2 rating to the proposed E1 billion notes, split in two tranches of E500 million each, due 2024 and 2028, to be issued by JCDecaux SA,, the world's largest outdoor advertising company.

JCDecaux S.A.: Update following review for downgrade

Our credit view of JCDecaux S.A., reflecting the impact from the coronavirus outbreak and macroeconomic downturn on the company's credit profile.

Anthony Dick ...
  • Emmanuel Matot
  • Jerôme Bodin
  • Michael Foundoukidis
  • Stephane Houri
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/27/2020

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With a more favourable environment, JCDECAUX improves to Slightly Positive

JCDECAUX (FR), a company active in the Media Agencies industry, is favoured by a more supportive environment. The independent financial analyst theScreener has confirmed the fundamental rating of the title, which shows 3 out of 4 stars, as well as its unchanged, moderately risky market behaviour. The title leverages a more favourable environment and raises its general evaluation to Slightly Positive. As of the analysis date May 8, 2020, the closing price was EUR 19.10 and its potential was estimated at EUR 21.47.

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...

Expert Corporate Governance Service (ECGS)

JC Decaux – AGM 14 May 2020

Press release of 25/3/20 (): - Cancellation of dividend - withdrawal of 2020 targets ITEM 14: Once again this year, the company has shown a blatant lack of transparency on the 2020 remuneration of the members of the Management Board. Indeed, it is one of the very few SBF 120 companies that do not disclose the amounts that will be allocated for 2020. This prevents the shareholder from having a clear vision of the remuneration policy proposed to the vote. It is imperative that the board proposes a clear executive compensation policy and the only way for shareholders to force the board to prop...

Jehanne Leroy

JC Decaux - Assemblée Générale des actionnaires du 14 mai 2020

Communiqué du 25/3/20 (/fr/communiques-de-presse/jcdecaux-annule-son-dividende-2019?refer=37) : - Annulation du dividende - retrait des objectifs 2020 Rémunérations : Cette année encore, la société fait preuve d’une opacité criante sur les rémunérations 2020 des membres du Directoire. Elle est en effet l’une des très rares sociétés du SBF 120 à ne pas communiquer les montants qui seront attribuables au titre de 2020. Cela empêche l’actionnaire d’avoir une vision claire sur la politique de rémunération proposée au vote. Il est impératif que le conseil propose une politique de rémunération des ...

Expert Corporate Governance Service (ECGS)

JC Decaux - AGM 16 May 2019

ITEM 11: Last year, the 2018 executives remuneration policy was not described in the Annual Report, but shareholders were able to acknowledge a press release published in the Governance section of the company’s website (/sites/default/files/assets/document/2018/04/jcdsa-remunerationautitredelexercice2018_0.pdf) which presented amounts and structure at stake. For 2019, neither the Annual report, nor such a press release comprise this information. This lack of information is not acceptable for a SBF120 company which belongs to the major European indexes. ITEMS 13 and 14: This lack of disclosure...

Jehanne Leroy

JC Decaux - Assemblée générale des actionnaires du 16 mai 2019

Rémunérations : Contrairement à l'année dernière, la société n'a pas publié de communiqué séparé sur son site présentant les éléments de rémunérations pour 2019. Ainsi, aucune information sur les montants et structures en jeu n'est disponible, ce qui ne permet pas à l'actionnaire de voter en toute connaissance sur la politique de rémunération 2019. Cette pratique est très surprenante de la part d'une société du SBF 120 et appartenant aux plus grands indices européens. En raison de cette absence de communication, nous ne soutenons pas la résolution 11. Ce manque de communication se retrouve...

JC Decaux – Proxinvest Corporate Governance Rating ® : C

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

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