Settlement of claim with French Football Federation
Archives Lagardère Sports and Entertainment, Corporate & other activities, Finance
Paris, September 17, 2012
The arbitral award rendered in the claim with the French Football Federation (FFF) will have no impact on the Lagardère group’s Recurring EBIT from Media Activities (Recurring Media EBIT*) in full year 2012.
The Court of Arbitration, ruling on the claim filed by Sportfive, a subsidiary of Lagardère Unlimited, against the French Football Federation, found that the FFF did not owe any further amounts in respect of the contract between Nike and the FFF. For the record, Sportfive’s agreements for the sale of FFF marketing rights were terminated in 2010.
Consequently, and barring the outcome of any potential appeals, the settlement of this claim will have no financial impact. As a result, the Recurring Media EBIT* guidance for full year 2012, announced on 30 August, remains unchanged.
* FOR THE RECORD: RECURRING MEDIA EBIT DEFINITION
Recurring Media EBIT of consolidated companies is defined as the difference between result before financial charges and tax and the following items of the profit and loss statement:
• contribution of associates;
• gains or losses on disposals of assets;
• impairment losses on goodwill, property, plant and equipment and intangible assets;
• restructuring costs;
• items related to business combinations:
– expenses on acquisitions;
– gains and losses resulting from acquisition price adjustments;
– amortization of acquisition-related intangible assets.
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Lagardère is a world-class pure-play media group (Book and e-Publishing; Press, Audiovisual, Digital and Advertising Sales Brokerage; Travel Retail and Distribution; Sport Industry and Entertainment).
With a holding of around 7.5%, Lagardère jointly controls EADS.
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