M6 : Stellar advertising trend in Q2 driven by the Euro but EBITA is down
>Good momentum in advertising revenue in Q2 driven by the Euro 2024 - M6 yesterday reported Q2 2024 results that missed our expectations in terms of EBITA, which amounted to € 62 whereas we looked for € 67m. The gap with our expectations stemmed mainly from slightly higher costs than we expected under the impact of increased programming costs (Euro) and investments in streaming, notably M6+ launch costs. There was a nice surprise in terms of the advertising revenue tr...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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