First-quarter 2023 revenue
Corporate & other activities, Finance
Paris, April 18, 2023
Remarkable growth in Lagardère group revenue (up 24.4%1), driven by strong momentum at Lagardère Travel Retail
Lagardère Publishing: revenue up by a slight 1.0%1 versus a historically high comparison basis and despite a less dynamic market
Lagardère Travel Retail: excellent performance (up 44.2%1), boosted by the growth in international air traffic, the beginning of the recovery in North Asia and the success of numerous commercial initiatives.
Other Activities: revenue up 3.3%1, lifted by a strong performance from live performance venues
1 On a like-for-like basis (see Glossary).
Arnaud Lagardère, Chairman and Chief Executive Officer of Lagardère SA, commented:”We maintained our remarkable momentum in early year trading, with revenue surging by 24.4% year on year during the first quarter. Our two core businesses delivered solid performances, with Lagardère Travel Retail registering strong growth and Lagardère Publishing continuing to advance. In addition, the Group’s Other Activities also remained on the growth path. Our strategy has been validated by the Group’s dynamic since the beginning of the year, with Lagardère group increasingly taking advantage of the strengths of its model.”
Revenue for the Lagardère group climbed sharply over the first three months of 2023 to €1,675 million, up 28.4% as reported and up 24.4% like for like. The difference between reported and like-for-like revenue is attributable to a €33 million positive scope effect, mainly in connection with the acquisitions of Marché International (Germany), Creative Table Holdings Ltd (Dubai) and Costa Coffee in Poland by Lagardère Travel Retail, and of Welbeck Publishing Group and Paperblanks by Lagardère Publishing and to a €10 million positive currency effect, chiefly resulting from the appreciation of the US dollar (€18 million positive impact), offset by the depreciation of the British pound (€9 million negative impact).
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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.
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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