Lagardère First Half 2021 Results

In the first half of 2021, Group revenue totalled €2,076 million, up 5% on a like-for-like basis.

Group recurring EBIT in the first half of the year totalled €3 million, up sharply by €221 million compared to a negative €218 million in first-half 2020.

Lagardère Publishing recorded decade-high recurring EBIT of €110 million (€27 million in first-half 2020), with Lagardère Travel Retail reporting recurring EBIT of -€96 million, versus -€209 million in first-half 2020.

The Group reported a loss before finance costs and tax of €117 million in first-half 2021 (loss of €397 million in first-half 2020), including non-recurring/non-operating items for a net negative amount of €61 million.

The loss – Group share was €171 million, versus a loss – Group share of €422 million in first-half 2020.

For the six months to 30 June 2021, the Group’s free cash flow excluding changes in working capital improved sharply, amounting to an outflow of €12 million compared to an outflow of €242 million for the six months to end-June 2020.

Revenue for the Lagardère group came in at €2,076 million for first-half 2021, edging down 0.6% on a consolidated basis and up 5.0% like for like. The difference between consolidated and like-for-like data is essentially attributable to a €59 million unfavourable currency impact, mainly in connection with the US dollar. The €55 million negative scope effect relates to the acquisitions of Laurence King Publishing and Le Livre Scolaire, which did not fully offset the impact of disposals at Lagardère Studios.
details at: https://www.lagardere.com/fichiers/fckeditor/File/Relations_investisseurs/Publications/2021/Semestriels_2021/210726_Semestriels_2021_EN.pdf

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