Vivendi : Très bon T2, tout particulièrement chez UMG
>Opinion Surperformance reitérée - Vivendi a publié hier soir ses résultats S1 ressortis supérieurs aux attentes avec un EBITA de 1 066 M€ alors que nous tablions sur 932 M€ (soit un écart de 14%). UMG, Havas, Editis et Groupe Canal+ affichent une rentabilité supérieure aux attentes. Le point marquant est la marge d’UMG qui progresse de 330 pb faisant ressortir un effet de levier particulièrement important. Cette progression s’explique notamment par une très bonne pe...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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