Lagardère : Sales for the first half 2001
Paris, August 9, 2001
LAGARDÈRE MEDIA REPORTS ACCELERATION IN SALES GROWTH: +4.7% (on a like-for-like basis)
Lagardère Media sales for the first half of 2001 increased 4.7% on a like-for-like basis. This sales growth has increased compared to that experienced as of March 31, 2001 (+4%).
In Euros millions
|Variation 01/00 gross|| Variation 01/00
with comparable data
Lagardère without High Technology
– pro forma
– pro forma
n/a : not available
- Sales of the” Lagardère Media “, segment increased by 6.3% in the first half of 2001, excluding changes in the group structure. Excluding the effects of exchange rates (primarily the increased growth of the dollar), this growth amounted to 4.7%. The gross variation is 3.7% since sales of the first half of 2001 do not benefit from the Grolier, Inc. contribution, which have been deconsolidated since May 31, 2000.
This growth is due to the noticeable increase, on a like-for-like basis, of the Book and the Distribution Services divisions. Lagardere Active keeps on increasing at a fast rate thanks to the development of its television business and the continuation of its market share gain in the radio business.
Despite a very difficult advertising market, especially in the United States, Hachette Filipacchi Medias booked only a slight sales decrease, on a like-for-like basis, thanks to the strength of its brands and the quality of its international network.
- Sales of the “Automobile” segment increased by 1.1% overall in the first half of 2001, which is outstanding compared with the 4.5% decrease in the first quarter. The Avantime, the launch of which is under way, will contribute to sales only from second half of 2001 .
- Sales of the “High Technology” segment in the first half of 2001 are represented by 15.14% of the sales of EADS while the corresponding period of 2000 was represented by 33% of the sales of Aerospatiale Matra.
For the first half of 2000, presented on a pro forma basis, sales of Aerospatiale Matra have been replaced by 15.14% of EADS sales.
In accordance with the French accounting standards used by Lagardere SCA, when hedging against exchange rate fluctuation, sales generated in foreign currencies are converted at a rate determined by the hedging mechanism (rather than at the current exchange rate). EADS sales were restated to conform to these standards.
Under these conditions, and taking into account the extent of the changes mentioned above, the gross variation between the first semester of 2000 and 2001 is not meaningful for the published sales.
The strong increase in EADS sales (pro forma first half of 2001 vs. first half of 2000: + 34%) is due to the changes in Airbus consolidation policy (fully consolidated in 2001 vs. consolidated by the proportionate method – 80% – in 2000).
It should be noted that EADS stated that at a constant exchange rate level, the growth of sales should increase 20% in 2001.
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