Report
UMG : A very solid Q2, strong growth achieved by all the main divisions
>Outperform rating reiterated - UMG released its H1 2023 results yesterday evening and they came out better than expected; it followed up with a conference call. EBITDA came to € 590m in Q2 whereas we were looking for € 542m (consensus at € 541m). So the difference is quite wide and attributable to stronger-than-expected momentum in the group’s main recorded music markets (streaming and physical sales), resulting in a bigger leverage effect than anticipated. The group...
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
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