Main changes in the scope of consolidation 2025
The main changes in the scope of consolidation in 2025 were as follows:
Lagardère Publishing
- Acquisition in November 2024 by Hachette Book Group of the entire share capital of Sterling Publishing Co Inc., which brings together a number of well-known imprints recognised for their high-quality publications, has a catalogue of 13,000 titles and publishes some 350 new titles each year. Sterling Publishing Co Inc. has been fully consolidated since 1 January 2025.
The Group provisional goodwill at 31 December 2025, in the amount of €6 million. - Acquisition in April 2025 by Hachette Boardgames of the entire share capital of 999 Games for €33 million, of which €25 million paid in 2025 and the balance to be paid in 2026.
999 Games is a specialist board game distributor in the Netherlands and Belgium, and sells some 2.5 million games through more than 1,000 physical stores each year.
At 31 December 2025, goodwill was recognised for €11 million following the measurement of intangible assets amounting to €16 million. - Acquisition in October 2025 by Hachette Livre of the Le Routard brand and its constituent elements for €9 million. The Group also bought out all of the outstanding shares that it did not already own in Cyberterre, publisher of the Routard.com website.
Lagardère Travel Retail
- Acquisition of 70% of the share capital of Schiphol Consumer Services Holding BV, which operates the Duty Free business at Amsterdam Airport Schiphol, for a purchase price of €72 million (prior to contingent consideration, currently being assessed), of which €15 million was paid at end-April 2025 and €57 million is to be paid in instalments from January 2026 to January 2029.
In 2025, the purchase price allocation of €70 million in concession agreements, amortised over ten years, gave rise to the recognition of €8 million in goodwill.