RTL Group : H1 2020 results a shade below our expectations and limited rebound in advertising for the time being
>H1 2020 results a shade below expectations, German market still down - RTL Group yesterday reported its H1 2020 results that marginally undershot our estimates, with EBITA of € 258m vs € 310m forecast. Unsurprisingly, the advertising trend in Q2 was unfavourable throughout Europe and especially in Germany. The main difference with our expectations comes from Germany (costs) and Fremantle which was impacted a little more strongly than we expected in Q2. The group stat...RTL Group is a holding company. Co. through its subsidiaries is engaged in the operation of television and radio broadcasting services, television content production and distribution. Co. has interests in 40 television channels and 33 radio stations in 11 countries. Co. is involved in television content production, such as talent and game shows, drama and daily soap operas, through its subsidiary, FremantleMedia. Co. also provides services in the digital entertainment environment, including online games, community and dating services, as well as user-generated content exchange platforms.
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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