M6 : H1 2020 earnings topped expectations thanks to tight control of costs and improvement in the advertising trend in July
>A good H1 thanks to tight control of costs - M6 yesterday reported interim results ahead of expectations, with Q2 2020 EBITA of € 38.7m whereas we had been forecasting € 22m. We were already ahead of the consensus (€ 15m) and the group therefore exceeds our expectations. Unsurprisingly, the contraction in advertising in Q2 was particularly marked (-41.7%). The group held its conference call after the publication. It indicated that the advertising trend reflected a ma...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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