Mediaset Espana : Q3 results in line and another drop in Q4 according to our estimates
>Outperform recommendation reiterated, CEO leaving - Yesterday Mediaset España reported Q3 results pretty much in line with our estimates, with EBITDA of € 31.9m vs ODDO BHF estimate: € 32.4m. The gap stemmed primarily from the cost base, which was slightly higher than we expected. Ad revenue fell 9.6% in Q3 whereas we had expected a drop of 8%. This was due to tough ad trends in Spain, mostly because of inflation which exceeded 10% in the past few months, but also d...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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