Published on 08/11/2024 at 11:12 a.m.
(Boursier.com) — NRJ Group loses 0.8% to 7.20 euros this Friday. After a dynamic first half, the group’s media activities NRJ in France were impacted by the Paris Olympic and Paralympic Games for Television audiences and in terms of advertising activity. In addition, the benchmark for the previous financial year was particularly high for the Radio and Television divisions of NRJ Group, which had increased by +6.5% and +7.2% respectively in the 3rd quarter of 2023. The combination of the two elements has weighed on the evolution of the Group’s consolidated turnover excluding trade in the 3rd quarter of 2024, which amounted to €91.1 million, down 3.6%.
The Broadcasting division continued its good commercial momentum in the 3rd quarter of the 2024 financial year, recording growth of +6.3% in its turnover to €20.2 million.
The consolidated turnover excluding trade for the first 9 months of the 2024 financial year stands at €282.6 million, up +1.4% compared to the same period in 2023.
The group’s consolidated turnover over the first 9 months of 2024 benefits from the power of the group’s brands. Indeed, according to the Cross Médias study, more than 44 million French people are entertained each month with the group’s media.
Perspectives displayed
In October 2024, the turnover of the Radio and Television divisions should be stable compared to October 2023. However, the economic environment remains uncertain and visibility on the evolution of media turnover remains limited for the next important months of November and December 2024. Portzamparc sees an upside to its scenario in the event of a TV shutdown. The group’s net current cash covers 63% of the capitalization, while the valuation stands at only 4.2 EV/Ebit 2024. The analyst wants to be more cautious in his scenario (Radio/TV flat, Broadcasting +7%) even whether the impact will be limited on MOC (-4%) and EPS (-3%) expectations. Enough to aim for a price of 11.20 euros while remaining on the purchase file.
