Lagardere : 2018 results in line, very good FCF and continuation of disposals
>Ongoing strategic refocus - Yesterday evening, Lagardère reported 2018 results in line with forecasts with EBIT of € 401m (our forecast was for € 406m) but with a very good performance in FCF with a clear improvement in WCR. DPS remained stable at € 1.3, as expected. The group is looking for growth in its “target†EBIT (excluding disposals under way) of between 4% and 6% for 2019, which is broadly in line with our forecasts. Our estimates are unchanged overall based ...Lagardere Groupe is a holding company. Through its subsidiaries, Co. is engaged in the media industry (news, education, culture and entertainment businesses). Co.'s main activities in the media industry can be divided into four separate divisions. Lagardere Publishing includes Co.'s Book Publishing and e-Publishing businesses. Lagardere Active encompasses Co.'s Magazine Publishing, Audiovisual (Radio, Television, Audiovisual Production), Digital and Advertising Sales Brokerage businesses. Lagardere Services encompasses the Travel Retail and Distribution businesses. Lagardere Unlimited specializes in sports and entertainment.
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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