JCDecaux : 2021 results and 2022 outlook in line with our expectations
>Neutral rating reiterated - JCDecaux released its annual results yesterday morning followed by a conference call. The results were in line with expectations and the Q1 guidance is in line with our model. Our full-year estimates are broadly unchanged with organic growth of 18% over the year. We were slightly more cautious than the consensus (+23%), which we believe is appropriate given the current climate and lack of visibility in Europe. EBITDA should increase stro...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.
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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