Publicis : Watch out for Metrobus in Q4, but limited impact and no change to our estimates
>Further sharp decline expected for Metrobus but limited impact on Q4 - We provide an update on Publicis' exposure to its outdoor advertising (Metrobus) and catering/sales (Drugstore) activities in France. Although these are small on a group scale (3% of revenues), they are very sensitive to lockdown periods. Publicis had indicated that they had made a negative contribution of 200bp to its Q2 organic growth. The impact is expected to be less in Q4 while traveller flow...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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