NRJ Group : A good performance from radio in France in Q4, more challenging in TV
>Q4 2019 revenues a shade below expectations - NRJ Group released Q4 2019 revenues yesterday evening that were a shade below expectations at € 107.2m (vs € 112.8m estimated), down 2.2% given weak demand in the TV market and an unfavourable base effect for the broadcasting division.Following this publication, we maintain our estimates for 2019. We also reiterate our Neutral recommendation on the stock with a target price of € 8. The valuation appears reasonable (2...NRJ Group is engaged in the multimedia industry, particularly in France's private radio market. Co. also operates in 22 other countries, as of Dec. 31, 2012. Co. works as a publisher, producer, and brodcaster, while marketing its own media space. Co. also develops new media such as television, internet and mobile telephony. Co.'s core business consists of creating and developing media, whether it be radio stations, television or the Internet. Co.'s operations can be divided into six segments: Musical Media and Events; Television; International Activities; Shows and Other Productions; Broadcasting and Other Activities. Co.'s brands are NRJ, NOSTALGIE, CHERIE FM, RIRE and CHANSONS.
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