M6 : A very good Q3 2020 on profitability but visibility very poor on Q4
>A good Q3 but slowdown likely in Q4 - M6 yesterday evening reported Q3 sales ahead of our expectations with organic advertising growth of 1% (vs +0.5% forecast). Note that the Gulli channel has been consolidated since September 2019. Unsurprisingly, the advertising trend is significantly better than in Q2 (-44%), which should be the case for all European broadcasters. The very positive point of the publication is the EBITA indication, which is significantly higher th...Co. is engaged in the media industry, primarily television edition & broadcasting. Co.'s operations can be divided into three segments. In the Free-to-Air segment, Co. operates a Free-to-Air terrestrial TV network, financed exclusively by advertising. In the Digital TV segment, Co. broadcasts many digital channels. In the Diversification & audiovisual rights segment, Co. purchases audiovisual rights. Co. is also engaged in distance-selling business, allows viewers to play an active role in the unfolding of programs proposed to them, develops mobile phone content; publishes a family of websites, organizes events & shows, & manages football Club des Girondins de Bordeaux.
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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.