MESSAGE FROM Arnaud Lagardère
The Lagardère group saw a return to profitability in 2012, with attributable profit reaching 89 million, and net sales holding steady despite a very tough market.
The Group's media businesses posted recurring ebit slightly higher than our guidance. These good figures reveal a group that has the strength to resist the current economic uncertainty and lack of short-term market visibility.
| We have continued to follow our policy of developing growth businesses and managing our business portfolio, especially at Lagardère Active, which acquired LeGuide.com and BilletReduc.com, expanding its Digital operations and reducing its exposure to the advertising market. Lagardère Services acquired the Duty Free activities of Rome's airports, in line with its growth strategy for Travel Retail, which now accounts for 56% of this division's activity. |
As we are continuing to focus on our media business, we have sold our entire stake in EADS.
This divestment will help to reduce the holding company valuation discount; the proceeds from the transaction will be partly redistributed to shareholders and employee s, and partly used to reduce the Group's debt.
Lagardère Unlimited has also begun its recovery, and I am confident that the division will see a return to profi tability in the medium term, driven by the reduction of risk linked to its activity as a premium media rights intermediary in Europe and the rise of commission-based business.
Lagardère is financially robust, with excellent liquidity and an appropriate level of debt for its business and the market climate: sufficient to ensure our independence and offer a stable dividend.
In 2013, the talented men and women who work for our Group and who represent our most valuable asset will continue to drive the success of Lagardère, and I would like to commend them here for their commitment and their professionalism.
And I would like to thank you, our shareholders, for your loyalty and your support.
|These good figures demonstrate the Group's resilience |
The group's valuesThe Group has clear values that determine its personality. Lagardère's creativity, boldness and independence have helped to create a modern, innovative media group that's in touch with its times.
The group's activities
Lagardère, a world-class diversified media group led by Arnaud Lagardère, operates in around 30 countries and is structured around four distinct, complementary divisions.
Sustainable DevelopmentSustainable development is a shared responsibility within the Lagardère group.