NRJ Group : Tough Q1 2020 and sharp downward revision to our estimates
>Q1 2020 revenues undershot expectations - NRJ Group reported its Q1 2020 revenues yesterday evening, which undershot expectations at € 79.6m (vs € 83.9m estimated), down 13.2% in view of the massive cancellation of advertising campaigns since the start of the lockdown (16 March) and the closure of the group's local radio stations and advertising network. The group confirmed a very difficult Q2 (we expect -45% for the radio division). We are revising our earnings exp...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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