Atresmedia : Solid advertising momentum in Q2, FY 2024 forecasts unchanged
>Neutral rating reiterated - Atresmedia released its H1 2024 results yesterday in line with our expectations (Q2 EBITDA at € 52m vs € 51m expected) and followed them up with a conference call. The margin contracted only very slightly despite a big jump in costs over the quarter of around +10% (mostly programming costs). Advertising revenue growth came out in line with our forecast at 5.4%, having logically slowed down sequentially following a very healthy Q1 (+14.5%)....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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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