TF1 : H1 2023 EBITA ahead of our expectations thanks to costs, improving advertising situation
>Neutral rating maintained - TF1’s Q2 results, reported yesterday, beat our expectations, with Q2 EBITA of € 112.5m while we forecast € 101m. The main difference relative to our expectations stemmed from costs which were lower than we anticipated. Negative advertising growth in Q2 came in at -6%, in line with our expectations, compared to -9% reported by M6. The group held a conference call in which it indicated that in H2, the market is expected to stabilise and tha...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.
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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