Vivendi : What to expect from Q3? The stock still shows a discount of 50%
>The discount is still close to 50% - This note provides an update on our Q3 expectations and on our SOTP. The group is due to report its Q3 sales on 20 October. We expect a good quarter with still-robust commercial momentum at Canal+ in France (but sales down sharply at Studiocanal for Q3) and for Havas. The trend is likely to remain negative at Editis, particularly with the absence of school reform in France. Our EBITA expectations are slightly lowered for Canal+ to...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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