NRJ Group: a blatant discount

Buildings. Among the discounted files, NRJ Group figures prominently. The sum of assets is in fact much greater than the market capitalization… The company owns two modern buildings located in the 16th arrondissement of Paris which house its offices. The whole represents almost 10,000 square meters, or a value of around 150 ME. At the end of June, the net cash surplus represented 280 ME. In digital radio and television broadcasting, NRJ owns the second French operator behind TDF with Towercast. If it were to change ownership, this entity would be worth at least 10 times its operating profit, or more than €220 million.