Third-Quarter 2020 Revenue
Impacts of the pandemic in third-quarter 2020 mitigated by the Lagard re group s
diversified business base
Group revenue down 38.3%(1) in third-quarter 2020, to 1,188 million
Lagard re Publishing revenue up 6.0%(1) to 704 million, buoyed by the success of its publications
and a market rebound
Lagard re Travel Retail revenue down 66.1%(1) to 393 million,
owing to the slump in global air traffic
The Lagard re 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 Lagard re Publishing over the same period, driven by the success of its publications.
Lagard re 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.
Lagard re Travel Retail: following a slight upturn in trading observed as from the end of the second quarter through to mid-August, Lagard re 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. Lagard re Travel Retail is continuing its efforts to cut costs in these uncertain times.
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(1) On a like-for-like basis versus third-quarter 2019.
Press Contacts
Thierry FUNCK-BRENTANO - Tel. 33 1 40 69 16 34 - tfb@lagardere.fr
Ramzi KHIROUN - Tel. 33 1 40 69 16 33 - rk@lagardere.fr
Investor Relations Contacts
Emmanuel RAPIN - Tel. 33 1 40 69 17 45 - erapin@lagardere.fr
Alima LELARGE LEVY - Tel. 33 1 40 69 19 22 - alelargelevy@lagardere.fr
Created in 1992, Lagard re 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: Lagard re Publishing (Book and e-Publishing, Mobile and Board games) and Lagard re Travel Retail (Travel Essentials, Duty Free & Fashion, Foodservice).
The Group s operating assets also include Lagard re News and Lagard re Live Entertainment.
Lagard re shares are listed on Euronext Paris.
www.lagardere.com
Important notice:
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 Lagard re SCA with the Autorit des march s financiers for additional information in relation to such factors, risks and uncertainties.
Lagard re SCA has no intention and is under no obligation to update or review the forward-looking statements referred to above. Consequently Lagard re SCA accepts no liability for any consequences arising from the use of any of the above statements.
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