Report
Jerôme Bodin

Mediaset Espana : An unsurprising set of 2021 results, a good start to the year, higher costs and a share buyback on the agenda (but still no dividend)

>Stock still as undervalued as ever, all the more so given the upcoming € 150m share buyback - Mediaset España released its full-year 2021 results yesterday and they came out very slightly lower than we expected, with EBITDA at € 243m vs our € 253m forecast. The consensus was a little more conservative at € 246m. Advertising revenues fell by 4% in Q4, in line with our forecast. Management delivered an upbeat message about the market for 2022. However, it will have to ...
Underlying
Mediaset Espana Comunicacion SA

Gestevision Telecinco is a television network company based in Spain. Co. heads a group of dependent companies, which form the Telecinco Group. Through its subsidiaries, Co. is engaged in the management and commercial exploitation of a television network. Co.'s television network acquires, produces, and distributes audiovisual content. Co. also sells the network advertising airtime, carried out by its subsidiary. In addition, Co. is involved in the sale of other advertising products; production of news programs; the production and sale of audiovisual property rights; and teleshopping.

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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