RTL Group S.A.

RTL Group is a holding company. Co. through its subsidiaries is engaged in the operation of television and radio broadcasting services, television content production and distribution. Co. has interests in 40 television channels and 33 radio stations in 11 countries. Co. is involved in television content production, such as talent and game shows, drama and daily soap operas, through its subsidiary, FremantleMedia. Co. also provides services in the digital entertainment environment, including online games, community and dating services, as well as user-generated content exchange platforms.
  • TickerRTLL
  • ISINLU0061462528
  • ExchangeLuxembourg Stock Exchange
  • SectorMedia
  • CountryLuxembourg

Analysts

Alexandre Iatrides ...
  • Antoine Boivin-Champeaux
  • Benoit Valleaux
  • Christophe Chaput
  • Fehmi Ben Naamane
  • Geoffroy Michalet
  • Jerôme Bodin
  • Laurence Hofmann
  • Louis Boujard
  • Philippe Ourpatian
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 03/15/2019

The group is in the midst of a challenging reorganisation phase which will likely continue to hurt profitability and visibility. The “fleet of ships” strategy is gradually evolving, but the failure of the MO + Alstom deal represents a sizeable setback. We also think that the underlying issues, such as ROCE levels, have not been addressed: we are still at Neutral, and are lowering our target price from € 110 to € 100. See report published last evening. - ...

Jerôme Bodin

RTL Group : Début d’année en légère baisse en Allemagne et P-B., accélération des investissements en 2019

>2019 sera une année d’’investissements - RTL Group a donc tenu hier sa conférence téléphonique suite à la publication de ses résultats 2018. Le groupe a réitéré ses deux priorités stratégiques : développement de son offre OTT en Europe et hausse de ses contenus de fictions via Fremantle. Nous avions déjà intégré ces investissements dans nos attentes mais qui sont toutefois un peu supérieurs à ce que nous attendions en 2019, tout particulièrement dans la grille de pro...

Alfred Glaser ...
  • Anis Zgaya
  • Antoine Boivin-Champeaux
  • Delphine Brault
  • Fatma Agnès Hamdani
  • Fehmi Ben Naamane
  • Jerôme Bodin
  • Khaled Ben Amor
  • Louis Boujard
  • Olivier Lebrun
  • Philippe Ourpatian
  • Sylvain Goyon
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 14/03/2019

La probabilité d’occurrence des risques majeurs identifiés par le marché (guerre commerciale, hard landing chinois, resserrement monétaire) a effectivement reculé. Le début d’année très dynamique des indices reconnait cet état de fait avec des niveaux qui flirtent avec nos objectifs de fin d’année (Stoxx 600 revu à 379 points). Dans ce contexte, favoriser les secteurs qui combinent : rerating des PE inférieurs à celui du marché, résilience des prévisions de BPA 2019e et 2020e non refl...

Alfred Glaser ...
  • Anis Zgaya
  • Antoine Boivin-Champeaux
  • Delphine Brault
  • Fatma Agnès Hamdani
  • Fehmi Ben Naamane
  • Jerôme Bodin
  • Khaled Ben Amor
  • Louis Boujard
  • Olivier Lebrun
  • Philippe Ourpatian
  • Sylvain Goyon
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 03/14/2019

The likelihood of the major risks identified by the market actually materialising (trade war, Chinese hard landing, monetary tightening) has receded. The dynamic gains by the indexes at the start of the year reflect this and they are flirting with our year-end targets (Stoxx 600 revised to 379 points). Against this backdrop, investors should favour sectors that combine: re1eratings in terms of PE lower than that for the market, and resilience in 2019e and 2020e EPS forecasts not reflec...

Jerôme Bodin

RTL Group : EBITA set to decline in 2019 as expected

>Acceleration in investment and therefore a decline in EBITA in 2019 - Yesterday, RTL Group reported 2018 results that came in broadly in line with our expectations. Guidance for 2019 was fairly positive on sales by the group anticipates a decline in EBITA. The group is due to hold a conference call this morning at 11.30 a.m. and this will be an opportunity to provide an update on advertising trends per country, particularly in Germany where Q4 was especially tough. N...

Jerôme Bodin

RTL Group : Début d’année en légère baisse en Allemagne et P-B., accélération des investissements en 2019

>2019 sera une année d’’investissements - RTL Group a donc tenu hier sa conférence téléphonique suite à la publication de ses résultats 2018. Le groupe a réitéré ses deux priorités stratégiques : développement de son offre OTT en Europe et hausse de ses contenus de fictions via Fremantle. Nous avions déjà intégré ces investissements dans nos attentes mais qui sont toutefois un peu supérieurs à ce que nous attendions en 2019, tout particulièrement dans la grille de pro...

Jerôme Bodin

RTL Group : EBITA set to decline in 2019 as expected

>Acceleration in investment and therefore a decline in EBITA in 2019 - Yesterday, RTL Group reported 2018 results that came in broadly in line with our expectations. Guidance for 2019 was fairly positive on sales by the group anticipates a decline in EBITA. The group is due to hold a conference call this morning at 11.30 a.m. and this will be an opportunity to provide an update on advertising trends per country, particularly in Germany where Q4 was especially tough. N...

Guy Sips ...
  • Lenny Van Steenhuyse
  • Ruben Devos
  • Sandra Cauwenberghs
  • Wim Hoste

Morning Note: ARGX BB, PIC BB, RTL BB, TESB BB

Argenx: ARGX-115: $ 30m clinical milestone from AbbVie Picanol: Slowdown in FY19 global weaving machine market RTL Group: Lower 2019 EBITA outlook on VOD investments Tessenderlo: FY18 guidance miss, vague FY19 guidance

Jerôme Bodin

RTL Group : Sans surprise, vers une baisse de l’EBITA en 2019

>Accélération des investissements et donc baisse de l’EBITA en 2019 - RTL Group a publié hier ses résultats 2018 globalement en ligne avec nos attentes. La guidance 2019 est plutôt positive sur le CA mais le groupe table sur une décroissance de l’EBITA. Le groupe tient aujourd’hui une conférence téléphonique à 11h30 qui sera l’occasion de faire le point sur les tendances publicitaires par pays et tout particulièrement en Allemagne dont le T4 a été particulièrement dif...

Alan Vandenberghe ...
  • Alexander Makar
  • Bart Cuypers
  • Guy Sips
  • Jan Opdecam
  • Ruben Devos

Morning Note: BANI BB, BFIT NA, BOKA NA, INTO BB, MTLS US, RTL BB, VGP BB

Banimmo: One-off pulls down results Basic-Fit: Conference call feedback : Buy the dip Boskalis: Mixed results with limited upside yet for 2019 IO&W: Finalisation BTS Borchwerf II in Roosendaal Materialise: From a loss of 2.1m to a net profit of € 3.0m in FY18 RTL Group: Pro7Sat: German TV adv. flat to slightly down in ‘19 VGP: Continued land bank expansion in Zaragoza

Alexandre Iatrides ...
  • Antoine Boivin-Champeaux
  • Benoit Valleaux
  • Christophe Chaput
  • Fehmi Ben Naamane
  • Geoffroy Michalet
  • Jerôme Bodin
  • Laurence Hofmann
  • Louis Boujard
  • Philippe Ourpatian
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 03/15/2019

The group is in the midst of a challenging reorganisation phase which will likely continue to hurt profitability and visibility. The “fleet of ships” strategy is gradually evolving, but the failure of the MO + Alstom deal represents a sizeable setback. We also think that the underlying issues, such as ROCE levels, have not been addressed: we are still at Neutral, and are lowering our target price from € 110 to € 100. See report published last evening. - ...

Alfred Glaser ...
  • Anis Zgaya
  • Antoine Boivin-Champeaux
  • Delphine Brault
  • Fatma Agnès Hamdani
  • Fehmi Ben Naamane
  • Jerôme Bodin
  • Khaled Ben Amor
  • Louis Boujard
  • Olivier Lebrun
  • Philippe Ourpatian
  • Sylvain Goyon
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 14/03/2019

La probabilité d’occurrence des risques majeurs identifiés par le marché (guerre commerciale, hard landing chinois, resserrement monétaire) a effectivement reculé. Le début d’année très dynamique des indices reconnait cet état de fait avec des niveaux qui flirtent avec nos objectifs de fin d’année (Stoxx 600 revu à 379 points). Dans ce contexte, favoriser les secteurs qui combinent : rerating des PE inférieurs à celui du marché, résilience des prévisions de BPA 2019e et 2020e non refl...

Alfred Glaser ...
  • Anis Zgaya
  • Antoine Boivin-Champeaux
  • Delphine Brault
  • Fatma Agnès Hamdani
  • Fehmi Ben Naamane
  • Jerôme Bodin
  • Khaled Ben Amor
  • Louis Boujard
  • Olivier Lebrun
  • Philippe Ourpatian
  • Sylvain Goyon
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 03/14/2019

The likelihood of the major risks identified by the market actually materialising (trade war, Chinese hard landing, monetary tightening) has receded. The dynamic gains by the indexes at the start of the year reflect this and they are flirting with our year-end targets (Stoxx 600 revised to 379 points). Against this backdrop, investors should favour sectors that combine: re1eratings in terms of PE lower than that for the market, and resilience in 2019e and 2020e EPS forecasts not reflec...

Ahmed Ben Salem ...
  • Alain William
  • Anis Zgaya
  • Antoine Boivin-Champeaux
  • Christophe Chaput
  • Emira Sagaama
  • Fatma Agnès Hamdani
  • Jerôme Bodin
  • Laurence Hofmann
  • Louis Boujard
  • Matthias Desmarais
  • Olfa Taamallah
  • Olivier Lebrun
  • Philippe Ourpatian
  • Pierre Tegner
  • Stephane Houri
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 03/01/2019

Unlike CEO pay, the average remuneration paid to the chairs of the boards of directors of the large cap companies covered by ODDO BHF increased by 4.9% between 2013 and 2017. The disparities between companies stem mainly from national contexts and widely differing perceptions of the role of the board chair depending on the countries, though for certain stocks the ownership structure and sector situation may have an influence. Cf. Report published last evening. - ...

Alain William ...
  • Baptiste Lebacq
  • Charles Lepetitpas
  • Christophe Chaput
  • Fatma Agnès Hamdani
  • Geoffroy Michalet
  • Hela Zarrouk
  • Jeremy Garnier
  • Jerôme Bodin
  • Martial Descoutures
  • Nicolas David
  • Nicolas Thorez
  • Olfa Taamallah
  • Olivier Lebrun
  • Oussema Denguir
  • Pierre Corby
  • Rémi Adam
  • Salma Bouraoui
  • Stephane Houri
  • Yan Derocles

ODDO BHF Small & MIDCAP MORNING NEWS - 03/01/2019

...

RTL GROUP sees an upgrade to Slightly Positive due to a better fundamental star rating

The general evaluation of RTL GROUP (BE), a company active in the Broadcasting & Entertainment industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 3 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date February 22, 2019, the closing price was EUR 49.04 and its potential was estimated at EUR 54.65.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

RTL Group – Proxinvest Corporate Governance Rating ® : E

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Expert Corporate Governance Service (ECGS)

Proxy Report - 18/04/2018

It is proposed to elect a new member to the Board, Ms Lazaznick. She is considered independent and would therefore increase both the independence rate and gender diversity rates of the Board. Hence, we support this election (Item 5.1). It is also proposed to re-elect all board members. Only 3 board members (including Ms Zalaznick) are considered independent (i.e 23.1% of independence rate). Hence, we do not support most of the re-elections proposed. We note our renewed concern with the absence of a vote on remuneration. While not required in Luxembourg, it is now European best practice. We r...

ResearchPool Subscriptions

Get the most out of your insights

Get in touch