TF1 : Slowdown in Q4 due to economic reasons but earnings in line
>Slight slowdown in Q4 at -2% - This morning TF1 published 2018 results that were in line with forecasts (recurring EBIT of € 196m vs € 190m forecast by the consensus and € 198m for Oddo BHF). Advertising revenues came to -2% in Q4 (vs consensus -1% and Oddo BHF 0%), showing a slowdown relative to the trend in the first nine months of the year, probably due to the social climate in France and a particularly difficult base effect (+2.9% in Q4 2017). The group is holdin...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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