ProSiebenSat.1 Media SE : No surprises in definitive Q3 2022 results as they were already published and a difficult trend in Germany
>Difficult advertising trend in Germany - Pro7Sat1 this morning reported definitive results for Q3. The group already published its preliminary results on 28 October with a marked revision to its targets. Note that the Q3 performance came in below our forecasts with EBITDA of € 118m vs our estimate of € 124m. We had therefore revised down our forecasts for 2022 and 2023 and they are unchanged this morning. The advertising trend is particularly difficult in Germany due...ProSiebenSat.1 Media is a holding company engaged as a media corporations in Europe, with TV stations in Germany, Austria and Switzerland. Co.'s core business consists of free TV financed by advertising. Co. also owns an international production network along with digital and ventures portfolio. In addition, Co. is engaged as online seller of video content on the internet. Also, Co. is involved in the online games business and operates an e-commerce portfolio. Through its Red Arrow Entertainment Group, Co. produces international TV programs and sells them to TV stations worldwide. Co. has three segments: Broadcasting German-speaking, Digital & Adjacent and Content Production & Global Sales.
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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