Publicis : Visibility on growth still limited, FCF still as a support
>Little visibility on organic growth - Publicis yesterday held a conference call following its 2019 earnings. It indicated that the start of the year would remain difficult, with a Q1 and an H1 which should be negative. An improvement is nonetheless expected in H2. Organic growth guidance is unchanged at -2%/+1%. According to management, a good H2 will not be achieved without reducing attrition: it suggests that there are early signs of attrition but that it has not y...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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