Report
Jerôme Bodin

TF1 : A very good Q1, trend remains positive

>Q1 2019 topped expectations - TF1 yesterday published Q1 results that exceeded expectations (recurring EBIT of € 62.9m vs € 47m expected by the consensus and € 49.5m by Oddo BHF) and held its conference call immediately afterwards. The group no longer communicates the advertising revenue of its free-to-air channels, but it is described as positive (+2.0% on our estimates) and therefore reflecting a sequential acceleration compared to the end of 2018 (-2.0% in Q4). We...
Underlying
Television Francaise 1 SA

Television Francaise 1 is a French general-interest television channel. Co. is an integrated communications group. Its activities cover the whole of the audiovisual industry: upstream in production, acquisition and sale of audiovisual rights and also in distribution of feature films to cinemas; downstream in sale of advertising space, and publishing and distribution of DVDs and music CDs. Co. is also engaged in home-shopping TV with Teleshopping, and pay-TV market. In addition, Co. produces multimedia content. Its activities can be divided into four sectors: Broadcasting France, Broadcasting International, Audiovisual Rights and Other Activities.

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Jerôme Bodin

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