UMG: Q4 results beat expectations

(CercleFinance.com) - Universal Music Group (UMG) reported better-than-expected Q4 results last night, sending its share price up by almost 5% on the Amsterdam Stock Exchange on Friday.


In the last three months of 2024, the music label posted adjusted Ebitda of E799m, up 18%, with 19.1% growth at constant exchange rates.

This exceeds the consensus, which expected Ebitda of E723m.

Quarterly sales rose by 7.2% to E3.44bn, including a 7.9% increase at constant exchange rates.

UMG points out that the best-selling artists during the period were Taylor Swift, Sabrina Carpenter, Billie Eilish and Chappell Roan.

The group also mentions the good sales of the 'Wicked' film soundtrack.

In a reaction note, analysts at Oddo BHF reiterate their 'outperform' rating on the stock, citing the prospect of favourable 'momentum' in 2025 and 2026, with a possible return to an organic growth trajectory closer to 10%.

The broker also points to a buoyant context, where the positive effects of price increases have yet to materialize, notably in connection with the new contract with Spotify.

Following this publication, UMG shares climbed almost 5% late Friday morning on Euronext Amsterdam.


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