RTL Group : Positive advertising trend confirmed in Q1 but significant capex
>Neutral rating maintained - RTL Group’s FY 2023 results, reported yesterday, fell short of our forecasts, with EBITA of € 927m vs € 950m expected, but beat the consensus (€ 894m), with the cost base slightly exceeding our forecasts. Unsurprisingly, the advertising trend in Germany was tougher than elsewhere in Europe but has improved markedly at the start of this year. This is consistent with the message from other European broadcasters. A particular feature of RTL ...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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