M6 : Q3 EBITA slightly short of our forecasts and Girondins de Bordeaux disposal finalised
>Q3 EBITA a bit short due to increased programming costs - M6’s Q3 earnings, reported yesterday evening, fell slightly short of our expectations (excluding Girondins de Bordeaux). Reported EBITA came in at € 33m vs € 38 (excluding Girondins de Bordeaux). EBITA for Girondins de Bordeaux was much better than expected (not reported but probably over € 20m). Profitability at the TV business (not reported) was probably slightly shy of our forecast. This gap stems from an ...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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