(CercleFinance.com) – Oddo confirms its ‘neutral’ rating on the RTL Group share, with a price target reduced from 56 to 52 euros.
The analysis office reports that RTL Group published its H1 results on Friday morning which came out slightly above expectations with an EBITA of 501 ME vs 495 ME for the consensus.
However, the summer is expected to decline from an advertising point of view in Germany, with management expecting a stable market or a decline of around 4% (optimistic scenario).
The group has also revised its 2022 guidance downwards, the old guidance now represents the top of the range: in terms of EBITA, it is now counting on a range of 1,050 – 1,150 ME (vs 1,150 ME), and on a turnover in the range of 7,300 ME-7,500 ME (vs. 7,400 ME).
The group nevertheless reiterates its medium-term guidance.
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