Q3 2024 Television Francaise 1 SA Earnings Call Transcript
Key Points
- Television Francaise 1 SA maintained its leadership in commercial targets, with stable audience shares year-on-year despite competition from major events like the Paris Olympics.
- The group's advertising revenue increased by 4.5% year-on-year, with a notable 39.5% growth in digital streaming platform T Plus.
- The company reported a strong financial position with a net cash of EUR364 million at the end of September 2024.
- The group's streaming platform, T Plus, continues to grow, with a 40% increase in advertising revenue compared to last year.
- Television Francaise 1 SA confirmed its 2024 objectives, aiming for a stable current operating margin and continued cash flow generation to support a growing dividend policy.
- The advertising market is showing signs of tension, particularly due to political and tax situations in France, which could impact future revenue.
- Current operating margin from activities decreased slightly to 12.4% from 13.2% last year.
- The production segment's revenue decreased by 3% year-on-year, with significant activity skewed towards the fourth quarter.
- Net cash decreased by EUR141 million over the first nine months, partly due to acquisitions and dividend payments.
- The company faces potential challenges from increased taxes in France, which could affect the effective tax rate and financial performance.
Hello and welcome to TF1 9-month 2024 results. My name is Melissa and I will be your coordinator for today's event. Please note this conference is being recorded. (Operator Instructions)
I'll now turn the call over to Pierre Alain Girard, Vice President, Finance Strategy and Procurement. Please go ahead.
Thank you. Good evening everyone and thank you for joining us for our nine months 2024 result presentation during today's call. I will present the business highlights of our two operating segments, provide a detailed breakdown of our financial results and lastly discuss our outlook.
We will then open the floor for questions for those of you who are joining us via the phone note that we are broadcasting the presentation through the webcast. You can also find it on our corporate website Now let's turn to slide 4 to go over the key highlights of the first nine months.
Let's
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