Third-Quarter 2020 Revenue
Corporate & other activities, Finance
Paris, 5 November 2020, 8:00 a.m.
Impacts of the pandemic in third-quarter 2020 mitigated by the Lagardère group’s
diversified business base
Group revenue down 38.3%(1) in third-quarter 2020, to €1,188 million
Lagardère Publishing revenue up 6.0%(1) to €704 million, buoyed by the success of its publications
and a market rebound
Lagardère Travel Retail revenue down 66.1%(1) to €393 million,
owing to the slump in global air traffic
The Lagardère group saw a year-on-year revenue decline of 38.3%(1) in the third quarter of 2020, hit hard by the impacts of the pandemic on its Travel Retail business. This decline was partly countered by a 6.0%(1) rise in revenue for Lagardère Publishing over the same period, driven by the success of its publications.
- Lagardère Publishing: the 6.0% revenue increase was driven by a good performance in France, which benefited from advances in General Literature and Illustrated Books, and by vigorous business growth in the United States and the United Kingdom spurred by the success of a large number of best-selling titles and by upbeat trends in digital formats.
- Lagardère Travel Retail: following a slight upturn in trading observed as from the end of the second quarter through to mid-August, Lagardère Travel Retail was impacted by the second wave of Covid-19, reporting a 66.1%(1) drop in revenue in the third quarter. Tighter travel restrictions introduced as from the end of August 2020 hit trading in all of the division’s regions with the exception of mainland China. Lagardère Travel Retail is continuing its efforts to cut costs in these uncertain times.
(1) On a like-for-like basis versus third-quarter 2019.
Thierry FUNCK-BRENTANO - Tel. +33 1 40 69 16 34 - firstname.lastname@example.org
Ramzi KHIROUN - Tel. +33 1 40 69 16 33 - email@example.com
Investor Relations Contacts
Emmanuel RAPIN - Tel. +33 1 40 69 17 45 - firstname.lastname@example.org
Alima LELARGE LEVY - Tel. +33 1 40 69 19 22 - email@example.com
Created in 1992, Lagardère is an international group with operations in more than 40 countries worldwide. It employs over 30,000 people and generated revenue of €7,211 million in 2019.
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.
To receive institutional press releases from the Lagardère group, please complete the following fields:Register