Vivendi : H1 2023 in line with forecasts, no share buyback programme
>Outperform rating reiterated - Yesterday evening, Vivendi published H1 2023 results in line with expectations with EBITA of € 379m vs our forecast of € 376m (excluding the contribution from Lagardère and UMG). However, the contribution from these shareholdings fell short of our expectations although they are still difficult to estimate due to accounting impacts. The group held a conference call following the publication during which it indicated that a share buy...Vivendi is an audiovisual group active in the entertainment industry with activities in music, TV, cinema, mobile, fixed and internet, and games. Co.'s operations are divided into five businesses: Canal+ Group which produces and distributes pay-TV in France, analog or digital, and is involved in film making; Universal Music Group which sells recorded music (physical and digital media); GVT which serves as a telecommunication operator for fixed ultra high-speed broadband, fixed-line telecommunications and Pay-TV in Brazil; SFR which is engaged in mobile phone services in France, as well as fixed and ADSL services; and Other Activities which involves ticketing, Wengo and Watchever.
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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