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UMG : Q1 in line with expectations, confirmation that the margin will rise in 2023
>Outperform rating maintained - UMG released its Q1 results yesterday evening and they came out in line with our expectations, with EBITDA reaching € 522m vs our forecast of € 523m and a consensus of € 515m. The momentum in paid streaming (+10%) proved more or less as we expected while the pleasant surprise came from physical sales which were much higher than forecast (+33% organic). This earnings release therefore generally met expectations, with the surprisingly st...
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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