JCDecaux : Q3 organic growth in line, Q4 guidance slightly above our initial estimates
>Neutral rating reiterated - JCDecaux released its Q3 revenue figures yesterday evening, and they came out slightly higher than expected, including organic growth at 9% and in line with our forecast whereas the guidance issued was for +7%. The group did not hold a conference call but did say in a press release that business momentum remained solid in Q4 and that it expects organic growth to reach 3%. We have raised our 2022 EBITDA forecast very slightly post-release. ...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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