Paris, 27 April 2021, 8:00 a.m.
The Lagardère group confirms its resilience in the face of the health crisis
thanks to the complementarity of its two divisional drivers and other activities
Lagardère Publishing: revenue up sharply by 14% year on year
Successful editorial decisions amid extended lockdowns
Lagardère Travel Retail: trading remains affected by the health crisis (down 56% year on year)
Its business and geographical diversity is enabling the Group to capture nascent tailwinds
Continued solid revenue performance in first-quarter 2021, driven by successful frontlist and backlist releases in General Literature and Illustrated Books in France, the United Kingdom and the United States. Sales were driven by successful editorial decisions in the various regions as well as by the increased appeal of reading among consumers during extended lockdowns, notably in France and the United Kingdom.
Pending the beneficial effects of the vaccination campaigns, first-quarter 2021 revenue closely mirrored trends in air passenger traffic, with different dynamics depending on the region. While Europe suffered a third wave of the virus and was locked down, China saw continued growth and the United States showed signs of a nascent recovery in domestic air traffic towards the end of the quarter.
The Group’s liquidity was strengthened at 31 March 2021 (versus 31 December 2020) thanks to new financing arrangements – especially the state-backed loan – and the Group’s tightly controlled cash generation.
Created in 1992, Lagardère is an international group with operations in more than 40 countries worldwide. It employs some 28,000 people and generated revenue of €4,439 million in 2020.
In 2018, the Group launched its strategic refocusing around two priority divisions: Lagardère Publishing (Book and e-Publishing, Mobile and Board games) and Lagardère Travel Retail (Travel Essentials, Duty Free & Fashion, Foodservice).
The Group's operating assets also include Lagardère News and Lagardère Live Entertainment.
Lagardère shares are listed on Euronext Paris.
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 SCA with the Autorité des marchés financiers for additional information in relation to such factors, risks and uncertainties.
Lagardère SCA has no intention and is under no obligation to update or review the forward-looking statements referred to above. Consequently Lagardère SCA accepts no liability for any consequences arising from the use of any of the above statements.
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