Ymagis : Q4 revenue in line – Restructuring plan approved at the EGM – We resume coverage at Buy with a target price of € 2.2
>Q4 2019 revenue in line with our estimates at € 46.1m (-11% y-o-y) - Yesterday evening the company reported activity levels fully in line with our expectations. Q4 revenues amounted to € 46.1m, down 11% (ODDO BHF: € 46.9m; -10%). In detail, the fall in VPF activities accelerated sequentially (-74%; 18% of revenues), under the impact of the numerous recoupments in 2019, while the good growth in CinemaNext in the period (+22%; 48% of revenues), buoyed by the gradual de...YMAGIS develops a range of services for cinemas (financing, sales, installation, facilities management and maintenance of digital projection and sound equipment, and also advertising displays for entrance halls, projection booth and cinema management software, seats, etc.) and offers digital services to film distributors and producers (duplication and physical or electronic delivery of digital content, post production, mastering, restoration and preservation).
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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