Report
UMG : A solid Q1 on margins but our forecasts for 2024 are unchanged - momentum still favourable
>A good Q1 in terms of the EBITDA margin, buoyed by the mix - Yesterday evening, UMG published Q1 results that came in a shade above our expectations with adjusted EBITDA of € 591m vs our forecast of € 573m, i.e. a 150bp improvement in the margin, buoyed by a favourable mix and robust growth in publishing. Growth at constant forex in the paid streaming activity (+12.3%) came in slightly below our forecast of 13.5% confirming a relatively dynamic quarter that remains u...
Underlying
UNIVERSAL MUSIC GROUP NV
Provider
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.
Jerôme Bodin
Other Reports on these Companies
Other Reports from Oddo BHF
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.