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...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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