M6 : A difficult advertising trend in Q3 and a decline in EBITA
>A difficult advertising trend in Q3 - Yesterday evening, M6 reported its Q3 2024 earnings which were below our forecasts with a -3.8% decline in advertising (vs our estimate of -1.5%). EBITA was € 37m, while we were expecting € 46m. The advertising trend was therefore somewhat difficult in Q3. The group was partly impacted by France Télévisions broadcasting the Olympic Games in France but also a demanding comparison base after +6.3% in Q3 2023. As a reminder, the gro...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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