TF1 : Tendance publicitaire difficile sur le T1 et baisse de Newen
>Opinion Neutre réitérée - TF1 a publié hier soir ses résultats du T1, ressortis inférieur à nos attentes avec un EBITA de 38,8 M€ alors que nous tablions sur 58 M€ et le consensus sur 50 M€. La principale différence avec nos attentes ressort au niveau de Newen dont le CA ressort en baisse de 20% à cause d’un effet de base défavorable. La décroissance publicitaire de 4,5% (à périmètre constant) contre -3% attendus, est suérieure à celle enregistrée par M6 (-2,4%). Le...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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