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First-Half 2023 results


Corporate & other activities, Finance

Paris, 25 July 2023, 5:35 p.m

Lagardère group recurring EBIT up 31.8%1 to €141 million
Revenue up 19.0%1 lifted by growth momentum at Lagardère Travel Retail,
with recurring EBIT 3.5 times higher at €92 million 

Lagardère Travel Retail
Excellent performance (up 32.4%1), driven by the confirmed recovery in air traffic, particularly international passengers, and by dynamic sales initiatives
Record recurring EBIT of €92 million, with an elevated 4.0% operating margin
Acquisition of multi-brand foodservice business Marché International
Launch of Extime Duty Free Paris in association with the ADP group

Lagardère Publishing
Revenue up slightly by 1.6%1 versus a high comparison basis and in a less dynamic market
Recurring EBIT of €65 million, with profitability maintained well above 2019 levels

Other Activities
Revenue growth of 2.5%1, lifted by the live performance business

Arnaud Lagardère, Chairman and Chief Executive Officer of Lagardère SA, commented: “Our activity in the first six months of 2023 confirms the Group’s robust upward trajectory, with revenue up 19% year on year – our ninth consecutive quarter of growth. Lagardère Travel Retail posted a very solid performance on the back of the strong rebound in air traffic, while Lagardère Publishing maintained elevated revenue levels, demonstrating its resilience amid a less buoyant publishing market. This positive dynamic demonstrates the relevance and strength of the Group’s strategic model.”

1 Versus the first half of 2022, on a like-for-like basis (see Glossary).

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Created in 1992, Lagardère is an international group with operations in more than 40 countries worldwide. It employs some 27,400 people and generated revenue of €6,929 million in 2022. The Group focuses on three divisions: Lagardère Publishing (Book and e-Publishing, Board Games and Mobile Games), Lagardère Travel Retail (Travel Essentials, Duty Free & Fashion and Foodservice) and Lagardère News (Paris Match, Le Journal du Dimanche, JDD Magazine, Europe 1, Europe 2, RFM, and the Elle brand licence).
The Group’s operating assets also include Lagardère Live Entertainment and Lagardère Paris Racing.
Lagardère shares are listed on Euronext Paris.

Important notice:
Some of the statements contained in this document are not historical facts but rather are statements of future expectations and other forward-looking statements that are based on management’s beliefs. These statements reflect such views and assumptions prevailing as of the date of the statements and involve known and unknown risks and uncertainties that could cause future results, performance or future events to differ materially from those expressed or implied in such statements.
Please refer to the most recent Universal Registration Document filed in French by Lagardère SA with the Autorité des marchés financiers for additional information in relation to such factors, risks and uncertainties.
Lagardère SA has no intention and is under no obligation to update or review the forward-looking statements referred to above. Consequently, Lagardère SA accepts no liability for any consequences arising from the use of any of the above statements.

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