Lagardere : Feedback from road show with management in US and Q1 preview
>Continuing the disposal plan and a good start to the year - We organised a road show in the US with Lagardère's management. The group conveyed a confident message on the growth and margin trend for the two strategic assets, publishing and travel retail. We confirm our view that the ongoing strategic plan (disposals/acquisitions) will lead, out to 2020, to strong FCF growth (>+50%e vs 2018 post acquisitions) and thus, potentially, to an increase in the dividend going ...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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