M6 : Very strong Q1 with impressive cost control
>Advertising revenues slightly up but EBITA well above estimates - M6 published this morning revenues that beat our estimates by far with EBITA of € 64m while we had been forecasting € 46m. Our estimate was already well above the consensus. The gap was in terms of costs, which the group perfectly controlled at the start of the year. This performance is very encouraging and shows the group’s intention to post record EBITA for 2021. TV advertising growth notably came ou...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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