OUR ACTION ADVICE ON UMG – Music giant UMG is ending a mixed stock market year. But after doubts about its growth linked in particular to AI, the group has reassured, and its prospects seem attractive to us.
For the Amsterdam Stock Exchange, 2024 ends well. If since the start of the year, the French CAC 40 has fallen by around 3% while the German DAX 40 has gained 19%, the Amsterdam AEX 25 index shows a respectable in-between: + 11%. But after hitting a record close to €30 and then experiencing a summer slump, the Universal Music Group (UMG) stock, which is part of it, is down 4% at this time.
What is the latest news from the music publishing giant, driven by the growth of streaming ? The group, of which Vincent Bolloré and Vivendi are the main shareholders with nearly 30% of the capital, recorded, in the third quarter, a turnover of 2.87 billion euros, up 7% at constant exchange rates and on a comparable basis.
The key subdivision Subscriptions picked up speed, increasing by 8.2%, to 1.14 billion euros thanks to subscriptions of streaming and price increases. At constant exchange rates, EBITDA rose 8.2% to 621 million euros…
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