Lagardere : Good FCF and positive guidance, undermined by coronavirus pressure
>The group unveils its new profile, good FCF - Lagardère released its results yesterday and held its analyst meeting in the process. EBIT 2019 is broadly in line with our expectations and FCF is strong as we expected. In terms of outlook, the EBIT guidance (+4-6%) is higher than we expected, but this is excluding the impact of the coronavirus on the Lagardère TR activity (-€ 20m on Q1 EBIT before savings). Assuming the situation continues until May, we put the net imp...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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