JCDecaux : Q3 guidance looks conservative, our EBITDA expectations are shaded up
>Improving trend but reasonably valued - JCDecaux yesterday held a conference call following its H1 earnings which slightly beat expectations (EBITDA of € 31m vs -€ 15m expected). The group's organic growth guidance of 20% looks cautious. We think that the trend in Europe and in street furniture is likely to be solid. Our forecast of +30% is thus unchanged. Only a broad-based tightening of health measures would prompt us to revise our scenario. We have upgraded our 20...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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