JCDecaux : Sales and Q3 guidance show marked acceleration, short-term impact on margin
>Organic sales showing sharp acceleration in Q2, at 4.9%, EBITDA 10%< consensus. - JCDecaux this morning reported H1 results, with a sharp acceleration in sales and a disappointment on the operating margin. Organic growth accelerated to 4.9% after +2.8% in Q1, beating expectations (Oddo BHF: +4.2%, consensus +3.8%) and the guidance of 3.5%. The quarter was marked by a good performance in the Transport division, which posted organic growth of 8.8% (Oddo BHF: 8.8%, cons...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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