Publicis : Q2 2023 once again better than expected, but possible slowdown in H2
>Neutral recommendation maintained - This morning, Publicis published H1 results that came in slightly above estimates (EBITA of € 1,093m vs € 1,064m est.). Organic growth was 7.1% in Q2 vs our forecast of +4.7% in line with the consensus. The difference is therefore significant, revealing a profitability gap. The group has raised its guidance for 2023 with growth of close to 5% in 2023, which implies H2 growth of around 3%. All told, this was a reassuring publicatio...Publicis is holding company. Through its subsidiaries, Co. is engaged in marketing, communication and digital transformation. Co. designs a customized package of services to meet each client's particular needs through a holistic and global approach. In addition, Co. provides financial markets with information concerning the relative size of each of the different business sectors for the sole purpose of allowing sector comparisons. Co.'s principal activities comprise four main categories: Digital, Advertising, Specialized Agencies and Marketing Services (SAMS) and Media.
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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