Ströer SE & Co. KGaA : Q1 a little better than expected but still reasonably valued in our view
>Neutral rating reiterated - Stroër's Q1 results slightly beat our expectations. The group held a conference call following the release. It indicated it has not seen a sharp slowdown for now. Its 2022 and medium-term guidance was confirmed. Our EBITDA forecasts for 2022 and 2023 are thus broadly unchanged. Our EPS estimates are adjusted to reflect a complete overhaul of our model and adjustments below the EBITDA level and the inclusion of changes in scope. We reitera...Stroeer SE & Co KGaA. Stroeer SE & Co KGaA is a Germany-based digital multi-channel media company and provider of out-of-home (OOH) and online advertising. The Company operates through three segments: Content Media, Direct Media and OOH Media. The Content Media segment includes display and video advertising, as well as digital marketing services. The Direct Media segment comprises dialog marketing and transactional product groups. The services include direct sales and non-voice channels, such as social media and chat, among others. The OOH Media segment covers activities related to large-format advertising, street furniture and advertising on public transport, and includes the giant poster business BlowUP and the online platform for booking of regional out-of-home campaigns, stroeer-direkt.de, among others.
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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