Advanced Television


Bank: “Optimism for Viaplay prospects in Netherlands”

Analysts at investment bank Berenberg have issued ‘BUY’ advice on Nordic Entertainment Group (NENT) on the back of its news that its Viaplay platform will launch early in 2022 in the Netherlands. “We are optimistic regarding the prospects for Viaplay in the Netherlands, particularly as NENT has already secured two key sports rights, most notably […]

May 25, 2021

Bank: “SES searching for a flatter curve”

Investment bank Berenberg has issued a report on the state of play at satellite operator SES. The bank says that with SES no longer separating its revenue splits between services and distribution (“which have notably different margin profiles”) they do not know what drove the operator’s Q1 results. The bank gives its forecasts on future […]

May 18, 2021

Bank: “NENT Q1 above expectations”

NENT’s Q1 results were above consensus expectations, apart from its Viaplay OTT service. According to investment bank Berenberg, the Nordic Entertainment Group’s operating margin of 7 per cent was also materially above expectations, leading to a significant outperformance at the EBIT level. The miss on Viaplay net sales was due to average revenue per user […]

April 27, 2021

Bank reviews Eutelsat vs SES

Analysts at Berenberg Bank have compared and contrasted Europe’s two satellite giants SES and Eutelsat in a detailed report. SES has a balance sheet that is in good shape says Berenberg but, despite its larger size, will generate much less cash flow than Eutelsat in 2021 and 2022, and, given uncertainty about the long-term future […]

March 18, 2021

Bank: “Buy fuboTV; Hold ProSiebenSat.1”

Sports broadcaster ‘fuboTV’, a now major multichannel video programming distributor (MVPD), and which streams its live content to a fast-growing portfolio of countries and devices, has prompted a major examination by investment bank Berenberg, and an upgrade to ‘Buy’. The bank admits that fuboTV is “easily the most controversial stock we cover, but we remain […]

March 16, 2021

Bank: “2021 a build-back year for F1”

Formula 1’s revenues of $485 million (€400m) for Q4 were 7 per cent lower year-on-year, and below market expectations. A report from investment bank Berenberg says that F1’s financial numbers were not a “miss” so much as a reflection of the opacity of Formula 1’s fundamentals during the pandemic. The bank says: “2021 looks set […]

March 3, 2021By Chris Forrester

Bank forecasts strong 2022 for NENT

NENT Group has received another strong endorsement from an investment bank. Analysts at Berenberg say that the OTT broadcaster’s Q4 results were solid despite its core numbers falling slightly below forecasts. On February 10th NENT confirmed its intention to raise equity. NENT said it would be aiming to raise SEK4 billion (€04,bn) through an accelerated […]

February 12, 2021By Chris Forrester

SES upgraded by bank, but with caveats

Satellite operator SES will unveil its half-year numbers on February 25th. Analysts at investment bank Berenberg have upgraded their advice on the company to clients to “Hold” but has more than a few cautions in a report. Currently SES shares are trading at sub-€7 levels (€6.84), a little better than its yearly low which was […]

February 12, 2021

Bank: “NENT ready to thrive”

NENT Group, the Nordic streaming company which includes the Scandinavian Viasat pay-TV brand, is well placed to thrive domestically and internationally according to a report from investment bank Berenberg. The bank recognises that along with many other pay-TV operations, NENT has benefited from the lockdown, saying: “2020 represented a significant year for the global streaming […]

February 5, 2021

Bank downbeat on SES, upbeat on Eutelsat

Investment bank Berenberg, in its previews of media stocks for 2021, is downbeat on satellite operator SES. It is maintaining its ‘SELL’ advice to clients and gives a guide price for SES shares of just €6.80 per share. The bank downgraded SES last year and says it remains of the view that consensus forecasts will […]

January 13, 2021