Third-quarter 2023 revenue
Corporate & other activities, Finance
Paris, October 13, 2023
Lagardère group revenue up by more than €900 million year on year (up 15.3%1) in the nine months ended 30 September 2023
Solid growth in the third quarter (up 9.6%2) led by the excellent performance from Lagardère Travel Retail
- Revenue up by a slight 0.3%1 since the start of the year versus a historically high comparison basis
- Third-quarter revenue at the high level of €767 million (down 1.6%2) amid disparate market conditions
Lagardère Travel Retail
- Strong growth over the first nine months (up 26.5%1), with record quarterly revenue of €1,390 million (up 17.7%2) driven by an exceptional summer in the United States and Europe
- Successful sales initiatives
1 On a like-for-like basis versus 2022.
2 On a like-for-like basis versus third-quarter 2022 (see Glossary).
Arnaud Lagardère, Chairman and Chief Executive Officer of Lagardère SA, commented:“The Lagardère group is continuing to actively develop its two core businesses, Lagardère Publishing and Lagardère Travel Retail. We recorded revenue growth of 9.6% in third-quarter 2023, thanks to very solid performances from our two divisions. After an exceptional summer, particularly in the United States and Europe, Lagardère Travel Retail’s revenue reached a record high. Lagardère Publishing also maintained a high level of revenue despite a market that was overall less dynamic overall than last year. In the first nine months of 2023, consolidated revenue was up by more than €900 million year on year.”
Revenue for the Lagardère group totalled €5,914 million for the first nine months of 2023, up 18.1% as reported and up 15.3% like-for-like. The difference between reported and like-for-like data is attributable to a €170 million positive scope effect, mainly due to the acquisitions of Marché International AG (Germany) and Costa Coffee (Poland) by Lagardère Travel Retail, and of Welbeck Publishing Group (United Kingdom) by Lagardère Publishing, as well as to a €48 million negative currency effect, mainly related to the depreciation of the US dollar (€22 million negative impact) and the pound sterling (€17 million negative impact).
Third-quarter 2023 revenue came in at €2,213 million, up 11.7% as reported and up 9.6% like for like. The difference between reported and like-for-like data reflects an €83 million positive scope effect and a €44 million negative currency effect.
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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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