RTL Group S.A.

RTL Group is a holding company. Co. through its subsidiaries is engaged in the operation of television and radio broadcasting services, television content production and distribution. Co. has interests in 40 television channels and 33 radio stations in 11 countries. Co. is involved in television content production, such as talent and game shows, drama and daily soap operas, through its subsidiary, FremantleMedia. Co. also provides services in the digital entertainment environment, including online games, community and dating services, as well as user-generated content exchange platforms.
  • TickerRTLL
  • ISINLU0061462528
  • ExchangeLuxembourg Stock Exchange
  • SectorMedia
  • CountryLuxembourg
Alan Vandenberghe ...
  • Bart Cuypers
  • Cedric Duinslaeger
  • Guy Sips
  • Jason Kalamboussis
  • Joachim Vansanten
  • Marcel Achterberg
  • Michiel Declercq
  • Ruben Devos
  • Wido Jongman
  • Wim Hoste

Morning Note: ACKB BB, ASM NA, ASML NA, BESI NA, BRNL NA, CRBN NA, DIE BB, ELI BB, FUR NA, KPN NA, BOLS NA, PROX BB, RTL BB, SOLB BB, TNET BB, UMI BB, VAN BB, XFAB FP, XIOR BB

Ackermans: Quality Over Quantity ASM International: Lower Estimates and TP Due to COVID-19, BUY ASML: Lower Estimates and TP, Downgrade to Hold BESI: 1Q20 offers mixed picture Brunel International: Holding up in 1Q20, with a challenging 2Q20 ahead Corbion: Solid start of the year with 1Q EBITDA +27% D'Ieteren: Royalty in the portfolio Elia Group: Company note - Quality comes at a price Fugro: Acceptable Q1, low FY20 visibility KPN: Q1 a mixed bag, FY20 outlook maintained for now Lucas Bols: Preliminary FY figures and COVID-19 update Proximus: Q1 beat driven by cost cuts, Operational KPIs soft ...

Alan Vandenberghe ...
  • Marcel Achterberg
  • Michiel Declercq
  • Ruben Devos
  • Sandra Cauwenberghs
  • Wido Jongman

Morning Note: BFIT NA, BOTHE BB, COFB BB, GBLB BB, MELE BB, RTL BB

Basic-Fit: Fit to Buy Bone Therapeutics: Up to € 11m in bridge financing gives 1Q21 runway Cofinimmo: 1Q20 better than exp & more concrete EPS outlook GBL: Dividend & Double voting right confirmed Melexis: Sees significant COVID-19 impact on 2Q20 sales RTL Group: M6 1Q20 trading update – TV ad revs down 9% y/y

Cedric Duinslaeger ...
  • Guy Sips
  • Joachim Vansanten
  • Lenny Van Steenhuyse
  • Marcel Achterberg
  • Michiel Declercq
  • Ruben Devos
  • Sandra Cauwenberghs
  • Wido Jongman
  • Wim Hoste

Morning Note: BEFB BB, BEKB BB, COMB BB, EURN BB, LOTB BB, MELE BB, RTL BB, UCB BB, XFAB FP

Befimmo: Covid-19 update Bekaert: Decision to halve the dividend vs initial proposal Bois Sauvage: No Happy Easter for UBCM Euronav: When it rains it pours… oil Lotus Bakeries: Seen as part of a vital industry but will be impacted Melexis: Estimates and TP Cut After COVID-19 Warning RTL Group: Withdraws dividend and FY20 outlook UCB: Ra completed, 2020 and mid-term guidance update X-FAB: FY20 View Withdrawn, Lower Estimates and TP Xior: COVID-19 impact Financial Services: Insurers urged to cut SBB & dividends by regulators

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...

Alan Vandenberghe ...
  • Bart Cuypers
  • Cedric Duinslaeger
  • Guy Sips
  • Jason Kalamboussis
  • Joachim Vansanten
  • Marcel Achterberg
  • Michiel Declercq
  • Ruben Devos
  • Wido Jongman
  • Wim Hoste

Morning Note: ACKB BB, ASM NA, ASML NA, BESI NA, BRNL NA, CRBN NA, DIE BB, ELI BB, FUR NA, KPN NA, BOLS NA, PROX BB, RTL BB, SOLB BB, TNET BB, UMI BB, VAN BB, XFAB FP, XIOR BB

Ackermans: Quality Over Quantity ASM International: Lower Estimates and TP Due to COVID-19, BUY ASML: Lower Estimates and TP, Downgrade to Hold BESI: 1Q20 offers mixed picture Brunel International: Holding up in 1Q20, with a challenging 2Q20 ahead Corbion: Solid start of the year with 1Q EBITDA +27% D'Ieteren: Royalty in the portfolio Elia Group: Company note - Quality comes at a price Fugro: Acceptable Q1, low FY20 visibility KPN: Q1 a mixed bag, FY20 outlook maintained for now Lucas Bols: Preliminary FY figures and COVID-19 update Proximus: Q1 beat driven by cost cuts, Operational KPIs soft ...

Alan Vandenberghe ...
  • Marcel Achterberg
  • Michiel Declercq
  • Ruben Devos
  • Sandra Cauwenberghs
  • Wido Jongman

Morning Note: BFIT NA, BOTHE BB, COFB BB, GBLB BB, MELE BB, RTL BB

Basic-Fit: Fit to Buy Bone Therapeutics: Up to € 11m in bridge financing gives 1Q21 runway Cofinimmo: 1Q20 better than exp & more concrete EPS outlook GBL: Dividend & Double voting right confirmed Melexis: Sees significant COVID-19 impact on 2Q20 sales RTL Group: M6 1Q20 trading update – TV ad revs down 9% y/y

Cedric Duinslaeger ...
  • Guy Sips
  • Joachim Vansanten
  • Lenny Van Steenhuyse
  • Marcel Achterberg
  • Michiel Declercq
  • Ruben Devos
  • Sandra Cauwenberghs
  • Wido Jongman
  • Wim Hoste

Morning Note: BEFB BB, BEKB BB, COMB BB, EURN BB, LOTB BB, MELE BB, RTL BB, UCB BB, XFAB FP

Befimmo: Covid-19 update Bekaert: Decision to halve the dividend vs initial proposal Bois Sauvage: No Happy Easter for UBCM Euronav: When it rains it pours… oil Lotus Bakeries: Seen as part of a vital industry but will be impacted Melexis: Estimates and TP Cut After COVID-19 Warning RTL Group: Withdraws dividend and FY20 outlook UCB: Ra completed, 2020 and mid-term guidance update X-FAB: FY20 View Withdrawn, Lower Estimates and TP Xior: COVID-19 impact Financial Services: Insurers urged to cut SBB & dividends by regulators

Jerôme Bodin

ODDO : Television-a-palooza?

>Collapse in advertising revenues in Q2 - We have had discussions with all the European TV broadcasters. The message is broadly the same across the board: order cancellations have gained momentum since the middle of March. Although the decline had initially affected only certain sectors (tourism and leisure), nearly all sectors are now scaling back their adspend. We estimate a decline in advertising revenue in the region of 40% to 80% in the second half of March and i...

Jerôme Bodin

ODDO : Télévision Palooza?

>Effondrement des recettes publicitaires au T2 - Nous avons échangé avec l’ensemble des diffuseurs TV européens. Le message est identique partout : les annulations de commandes se sont multipliées depuis le milieu du mois de mars. Alors que la baisse des investissements ne concernait que certains secteurs (tourisme et loisirs), ce sont quasiment tous les secteurs qui réduisent actuellement leurs dépenses publicitaires. Nous estimons une baisse des CA publicitaires de ...

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 ...

Jerôme Bodin

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 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 ...

Benoit Valleaux ...
  • Bruno Cavalier
  • Charles Lepetitpas
  • Emira Sagaama
  • Fehmi Ben Naamane
  • Jerôme Bodin
  • Matthias Desmarais
  • Nicolas David
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 03/16/2020

We held our fourth ODDO BHF TMT Forum in Paris. Clearly, much of the discussion, but not all of it, centred on the impact of COVID-19 for the companies represented and their sector. In an unprecedented context, we have decided to write factual feedback documents. All our scenarios will be reviewed sector by sector in separate notes in the coming days. Cf. Report published today. - ...

An unfavourable environment weighs on RTL GROUP, which sees a downgrade to Slightly Negative

The independent financial analyst theScreener just requalified the general evaluation of RTL GROUP (BE), active in the Broadcasting & Entertainment industry. As regards its fundamental valuation, the title still shows 2 out of 4 stars and its market behaviour is seen as risky. theScreener believes that the unfavourable environment weighs on the sector and penalises the company, which sees a downgrade to its general evaluation to Slightly Negative. As of the analysis date January 31, 2020, the closing price was EUR 41.10 and its target price was estimated at EUR 37.56.

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...

RTL Group – Proxinvest Corporate Governance Rating ® : E

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...

Expert Corporate Governance Service (ECGS)

Proxy Report - 18/04/2018

It is proposed to elect a new member to the Board, Ms Lazaznick. She is considered independent and would therefore increase both the independence rate and gender diversity rates of the Board. Hence, we support this election (Item 5.1). It is also proposed to re-elect all board members. Only 3 board members (including Ms Zalaznick) are considered independent (i.e 23.1% of independence rate). Hence, we do not support most of the re-elections proposed. We note our renewed concern with the absence of a vote on remuneration. While not required in Luxembourg, it is now European best practice. We r...

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