M6 : Feedback from investor breakfast with the CFO
>Confirmation of positive advertising trend in Q1 - We organised an investor breakfast with CFO Jérôme Lefébure. We are leaving our estimates unchanged following this event, with profitability set to continue to improve in 2020 and 2021 and the group looking to achieve an operating margin of 20% in the long term. The trend in France’s advertising market remains favourable in Q1, in our view (in line with fairly brisk economic momentum, at this stage). Programming cost...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.
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