Note 6 - Revenue
Revenue increased by 5.0% in 2019 on a consolidated basis and by 4.1% based on comparable Group structure and exchange rates (like-for-like).
The like-for-like change in revenue is calculated by comparing:
- 2019 revenue to exclude companies consolidated for the first time during the year, and 2018 revenue to exclude companies divested in 2019;
- revenue for 2018 and revenue for 2019 adjusted based on the exchange rates applicable in 2018.
The difference between consolidated and like-for-like revenue is essentially attributable to a €92 million positive foreign exchange effect resulting mainly from the appreciation of the US dollar. The €18 million negative scope effect reflects the disposals of media assets, chiefly offset by the two acquisitions carried out at Lagardère Travel Retail (HBF and IDF).
Revenue breaks down as follows:
| 2019 | 2018 (*) | |
|---|---|---|
| Lagardère Publishing | 2 384 | 2 252 |
| Education | 347 | 318 |
| Illustrated Books | 312 | 289 |
| General Literature | 1 034 | 998 |
| Partworks | 294 | 275 |
| Other | 397 | 372 |
| Lagardère Travel Retail | 4 264 | 3 673 |
| Travel Essentials | 1 613 | 1 566 |
| Duty Free & Fashion | 1 692 | 1 483 |
| Foodservice | 960 | 624 |
| Other Activities | 288 | 301 |
| Press | 121 | 129 |
| French Radio | 110 | 125 |
| Other | 58 | 47 |
| Lagardère Active – non-retained assets | 275 | 642 |
| Magazine Publishing – non-retained assets | - | 248 |
| International Radio | - | 30 |
| TV Channels | 49 | 110 |
| Audiovisual Production | 218 | 215 |
| Other | 8 | 40 |
| Total | 7 211 | 6 868 |
(*) Lagardère Sports revenue has been reclassified within discontinued operations in accordance with IFRS 5 (see note 4.3).