ProSiebenSat.1 Media SE : A start of the year that remains difficult and ramp-up of investment
>Poor visibility and Neutral recommendation reiterated - Pro7Sat1 held its conference call yesterday following its 2018 results publication, which slightly exceeded expectations (EBITDA of € 1.013bn vs € 987m forecast) thanks to particularly tight control of costs. The group confirmed a challenging start to the year from an advertising standpoint with a decline in the month of March (we are forecasting -3% in Q1 vs -1% previously). Advertising visibility therefore rem...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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