Report
Fiona Orford-Williams

- Media performance

The key elements of the H117 figures are the strong growth and margin improvement in the core media branding business and the return to profit at Tradedoubler. The latter’s consolidation has lifted Reworld’s half year revenues by 23% over H116. With the consolidation of Sporever, our current year figures are underpinned and our FY18 forecasts are slightly raised. The strong media brand portfolio, combined with the data and monetisation capabilities of Tradedoubler (30% owned) make the group an attractive partner to advertisers. On a lower cost base, this is translating into impressive earnings growth, not yet reflected in the rating.
Underlying
ReWorld Media SA

Reworld Media SA is a France-based company engaged in the online information services sector. It specializes in publishing Internet sites for the general public dedicated to sustainable development. In addition, it develops and sells content and animations for Web portals and implements sensitization means and tools for companies and local administrations. The Company operates two Websites: Developpementdurable.com, which is engaged in the publishing of economic, social, environmental and political news, and GchangeTout.com, dedicated to products and services exchange between individuals. It has also developed a platform reworld.com, dedicated to sustainable development.

Provider
Edison Investment Research
Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts
Fiona Orford-Williams

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