Television Francaise 1 S.A.

Television Francaise 1 is a French general-interest television channel. Co. is an integrated communications group. Its activities cover the whole of the audiovisual industry: upstream in production, acquisition and sale of audiovisual rights and also in distribution of feature films to cinemas; downstream in sale of advertising space, and publishing and distribution of DVDs and music CDs. Co. is also engaged in home-shopping TV with Teleshopping, and pay-TV market. In addition, Co. produces multimedia content. Its activities can be divided into four sectors: Broadcasting France, Broadcasting International, Audiovisual Rights and Other Activities.
  • TickerTFI
  • ISINFR0000054900
  • ExchangeEuronext Paris
  • SectorMedia
  • CountryFrance

Analysts

Thomas Coudry

TF1: Q1 results demonstrate strong core business | BUY | EUR11.7 vs. EUR12.3 (+26%)

TF1 - BUY | EUR11.7 vs. EUR12.3 (+26%) Q1 results demonstrate strong core business A quarter above expectations Strong core business in TV Still expecting more from digital and production activities Technical adjustments in our fair value

Alfred Glaser ...
  • Anis Zgaya
  • Christophe Chaput
  • Delphine Brault
  • Jeremy Garnier
  • Jerôme Bodin
  • Khaled Ben Amor
  • Stephane Houri

ODDO BHF Small & MIDCAP MORNING NEWS - 04/30/2019

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Alfred Glaser ...
  • Anis Zgaya
  • Christophe Chaput
  • Delphine Brault
  • Jeremy Garnier
  • Jerôme Bodin
  • Khaled Ben Amor
  • Stephane Houri

ODDO BHF Small & MIDCAP MORNING NEWS - 30/04/2019

...

Jerôme Bodin

TF1 : A very good Q1, trend remains positive

>Q1 2019 topped expectations - TF1 yesterday published Q1 results that exceeded expectations (recurring EBIT of € 62.9m vs € 47m expected by the consensus and € 49.5m by Oddo BHF) and held its conference call immediately afterwards. The group no longer communicates the advertising revenue of its free-to-air channels, but it is described as positive (+2.0% on our estimates) and therefore reflecting a sequential acceleration compared to the end of 2018 (-2.0% in Q4). We...

Jerôme Bodin

TF1 : Très bon T1, tendance toujours positive

>T1 au-dessus des attentes - TF1 a publié hier ses résultats du T1 ressortis au-dessus des attentes (EBIT récurrent de 62.9 M€ vs 47 M€ attendus par le consensus et 49.5 M€ par ODDO BHF) et a tenu sa conférence téléphonique dans la foulée. Le groupe ne communique plus le CA publicitaire de ses chaînes gratuites, mais il ressort comme positif (+2.0% selon nous) et donc en accélération séquentielle par rapport à la fin d’année 2018 (-2.0% au T4). Nous réitérons notre op...

Thomas Coudry

TF1: Q1 results demonstrate strong core business | BUY | EUR11.7 vs. EUR12.3 (+26%)

TF1 - BUY | EUR11.7 vs. EUR12.3 (+26%) Q1 results demonstrate strong core business A quarter above expectations Strong core business in TV Still expecting more from digital and production activities Technical adjustments in our fair value

Jerôme Bodin

TF1 : A very good Q1, trend remains positive

>Q1 2019 topped expectations - TF1 yesterday published Q1 results that exceeded expectations (recurring EBIT of € 62.9m vs € 47m expected by the consensus and € 49.5m by Oddo BHF) and held its conference call immediately afterwards. The group no longer communicates the advertising revenue of its free-to-air channels, but it is described as positive (+2.0% on our estimates) and therefore reflecting a sequential acceleration compared to the end of 2018 (-2.0% in Q4). We...

Jerôme Bodin

TF1 : Très bon T1, tendance toujours positive

>T1 au-dessus des attentes - TF1 a publié hier ses résultats du T1 ressortis au-dessus des attentes (EBIT récurrent de 62.9 M€ vs 47 M€ attendus par le consensus et 49.5 M€ par ODDO BHF) et a tenu sa conférence téléphonique dans la foulée. Le groupe ne communique plus le CA publicitaire de ses chaînes gratuites, mais il ressort comme positif (+2.0% selon nous) et donc en accélération séquentielle par rapport à la fin d’année 2018 (-2.0% au T4). Nous réitérons notre op...

Jerôme Bodin

ODDO : Consolidation amongst European TV groups: a credible scenario?

>A resumption of consolidation between free-to-air TV groups? - Part of the consensus has recently again questioned the possibility of link-ups in the free-to-air TV domain. This follows several press articles mentioning certain movements and, in particular, in January, a possible merger between Pro7Sat1 and Mediaset. We have regularly discussed these consolidation movements, particularly since our Natixis note of 31 August 2017 (“Towards a return of alliances between...

Jerôme Bodin

ODDO : Consolidation entre TV européennes : faut-il y croire ?

>Un retour de la consolidation entre TV gratuite ? - Une partie du consensus s’est de nouveau récemment interrogé sur la possibilité de rapprochements dans le domaine de la TV gratuite. Ce qui fait suite à plusieurs articles de presse évoquant certains mouvements et notamment, en janvier, une possible fusion entre Pro7Sat1 et Mediaset. Nous avons régulièrement évoqué ces mouvements de consolidation, notamment depuis notre note Natixis du 07/01/2014 (« Vers un retour d...

Alfred Glaser ...
  • Anis Zgaya
  • Christophe Chaput
  • Delphine Brault
  • Jeremy Garnier
  • Jerôme Bodin
  • Khaled Ben Amor
  • Stephane Houri

ODDO BHF Small & MIDCAP MORNING NEWS - 04/30/2019

...

Alfred Glaser ...
  • Anis Zgaya
  • Christophe Chaput
  • Delphine Brault
  • Jeremy Garnier
  • Jerôme Bodin
  • Khaled Ben Amor
  • Stephane Houri

ODDO BHF Small & MIDCAP MORNING NEWS - 30/04/2019

...

Alexandre Iatrides ...
  • Aurelien Sivignon
  • Christophe Chaput
  • Emmanuel Matot
  • Fatma Agnès Hamdani
  • Florent Laroche-Joubert
  • Geoffroy Michalet
  • Hana Maalej
  • Jean-François Granjon
  • Jeremy Garnier
  • Jerôme Bodin
  • Johanna Jourdain
  • Matthias Desmarais
  • Nicolas Thorez
  • Stephane Houri

ODDO BHF Small & MIDCAP MORNING NEWS - 04/24/2019

...

Alexandre Iatrides ...
  • Aurelien Sivignon
  • Christophe Chaput
  • Emmanuel Matot
  • Fatma Agnès Hamdani
  • Florent Laroche-Joubert
  • Geoffroy Michalet
  • Hana Maalej
  • Jean-François Granjon
  • Jeremy Garnier
  • Jerôme Bodin
  • Johanna Jourdain
  • Matthias Desmarais
  • Nicolas Thorez
  • Stephane Houri

ODDO BHF Small & MIDCAP MORNING NEWS - 24/04/2019

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Alfred Glaser ...
  • Benoit Valleaux
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Emmanuel Matot
  • Jerôme Bodin
  • Laurence Hofmann
  • Martial Descoutures
  • Michael Foundoukidis
  • Pierre Tegner
  • Pierre Corby
  • Roland Pfaender
  • Stephane Houri
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 24/04/2019

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TF1 (TV.FSE.1) sees a downgrade to Slightly Negative on account of less fundamental stars

The independent financial analyst theScreener just lowered the general evaluation of TF1 (TV.FSE.1) (FR), active in the Broadcasting & Entertainment industry. As regards its fundamental valuation, the title now shows 3 out of 4 stars while market behaviour can be considered risky. theScreener believes that the title remains under pressure due to the loss of a star(s) and downgrades its general evaluation to Slightly Negative. As of the analysis date March 29, 2019, the closing price was EUR 8.21 and its target price was estimated at EUR 6.54.

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...

Thomas Coudry

MEDIA Top picks Q2: TF1 Group still has potential after Q1 rally

MEDIA Top picks Q2: TF1 Group still has potential after Q1 rally

GlobalData Department

Television Francaise 1 SA (TFI) - Financial and Strategic SWOT Analysis Review

Television Francaise 1 SA (TFI) - Financial and Strategic SWOT Analysis Review provides you an in-depth strategic SWOT analysis of the company’s businesses and operations. The profile has been compiled by GlobalData to bring to you a clear and an unbiased view of the company’s key strengths and weaknesses and the potential opportunities and threats. The profile helps you formulate strategies that augment your business by enabling you to understand your partners, customers and competitors better. The profile contains critical company information including: - Business description – A detailed ...

Thomas Coudry

MEDIA June TV audiences impacted by the World Cup; Q2 remains sluggish

TF1 Group posted good audiences in June, driven by the World Cup, but on a quarterly basis audiences are slightly down, with all channels except TF1 declining. As expected, M6 Group was hit by the World Cup in June, but Q2 audiences are down as well, with a contraction of the M6 channel over the quarter. Viewing time keeps on declining on commercial target and millennials.

Florian Béchaz

TF1, 18 Avril 2019

Proxinvest attire l’attention des actionnaires sur tout d’abord le renouvellement de Gilles Pélisson, Président Directeur Général de TF1. Proxinvest recommande de ne pas soutenir ce renouvellement au regard du fait que le cours de l’action est en baisse et de l’absence de contre-pouvoir au sein du conseil. Proxinvest regrette par ailleurs que la rémunération sous forme d'options de M. Gilles Pélisson soit en options de la société Bouygues. En effet, l'effet incitatif est ainsi déporté sur la holding et non sur la société dirigée, TF1. De plus l'un des critères de performance pour la rémunérat...

TF1 - Assemblée générale des actionnaires du 18 avril 2019

Proxinvest publiera une étude analysant les résolutions proposées lors de la tenue de l’assemblée générale des actionnaires. Vous pouvez l'acquérir dès à présent et elle vous sera adressée par ResearchPool une fois publiée.

Jehanne Leroy

Proxy Report - 19/04/2018

Proxinvest regrette que la rémunération sous forme d'options de M. Gilles Pélisson soit en options de la société Bouygues. En effet, l'effet incitatif est ainsi déporté sur la holding et non sur la société dirigée, TF1. De plus l'un des critères de performance pour la rémunération variable annuel est en lien avec les performances du groupe Bouygues et non avec les performances du groupe TF1. Cela n'incite pas le dirigeant à réaliser de meilleurs performances pour le groupe TF1. De plus les objectifs et les réalisations des objectifs n'étant pas communiqués l'actionnaire ne peut pas estimer les...

Valérie GASTALDY

Analyse court terme - TF1 : La tendance est baissière.

La tendance est baissière. Le rebond gagne en vigueur. Il est probable que cette reprise s'achève sur la résistance à 9,210 € et que les prix baissent à nouveau vers 7,700 €. La tendance de fond serait remise en cause en cas de franchissement de 9,800 €.

Valérie GASTALDY

Short term view - TF1 : The trend is bearish.

The trend is bearish. The bounce is gaining strength. The bounce might end at the resistance at €9.210 and prices would fall again toward €7.700. The background trend would be questioned should prices rise above €9.800.

Valérie GASTALDY

Analyse court terme - TF1 : Le mouvement se poursuit.

La tendance de fond est clairement orientée à la baisse. Le mouvement se poursuit. Le prochain objectif est à 7,700 €, puis 7,350 €. Le franchissement de 9,800 € remettrait en cause la suite de la baisse.

Valérie GASTALDY

Short term view - TF1 : The movement goes on.

The background trend is clearly bearish. The movement goes on. The next target is at €7.700, then €7.350. Passing €9.800 would question the continuation of the fall.

Valérie GASTALDY

Medium term view - TF1 : The background trend is clearly bearish.

The background trend is clearly bearish. The movement goes on. The next target is at €8.608, then €7.350. Passing €14.526 would question the continuation of the fall.

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