Mediaset Espana : Q1 in line and start of Q2 more challenging for the moment
>Outperform recommendation reiterated, valuation above the MFE bid - Mediaset España published Q1 2022 results in line with our estimates with EBITDA of € 34m vs € 35m forecast. Advertising growth reached 2% in Q1 whereas we had been expecting +1%. The base effect was favourable after the 15.7% decline in Q1 2021. The trend in Spain showed a very slight increase, notably due to the negative effect of the transport strikes which probably halted some advertising investm...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.
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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