Sony Pixel Power calrec Sony

Full-Year 2020 Results

25/02/2021

Full-Year 2020 Results Lagard re group restores profitability and cash generation

in second-half 2020, despite the health crisis

thanks to the adaption of its model focused on its two strategic activities

Lagard re Publishing: revenue stable (down 0.4% year on year)1

Strong increase in recurring EBIT, up 11.8% year on year to 246 million in 2020

Lagard re Travel Retail: revenue down 59.7%1 year on year, reflecting the fall in air traffic passengers2; best-in-class flow-through ratio of 19.9% (exceeding the 2020 target)3

Ongoing Group-wide cost-cutting plans,

thanks to the strong mobilisation of all of the teams

Positive Group recurring EBIT and free cash flow in second-half 2020

Net debt at 1.7 billion at end-2020 (down 315 million versus 30 June 2020)

Solid liquidity, at 1.6 billion

Key figures

The Lagard re group reported revenue of 4,439 million in 2020, down 38% like for like.

Group recurring EBIT was a negative 155 million versus a positive 378 million in 2019. In the second half, Group recurring EBIT was a positive 63 million, a steep 281 million improvement on the first-half figure. This reflects both the cost-cutting efforts undertaken since the outset of the health crisis along with profitability at Lagard re Publishing.

The Group reported a loss before finance costs and tax of 549 million in 2020 (profit of 411 million in 2019), including non-recurring/non-operating items for a net negative amount of 336 million.

Lagard re posted a loss - Group share of 660 million, versus a loss - Group share of 15 million in 2019. Adjusted loss - Group share came in at 330 million for the year.

The Group had negative free cash flow excluding changes in working capital, at 239 million in 2020. It broke even in the second half, up 245 million on the first half to a positive 3 million.

Changes in working capital represented an outflow of 17 million in the year, compared to an inflow of 34 million in 2019. The working capital position improved sharply in the second half, representing an inflow of 252 million versus an outflow of 269 million in the six months to 30 June 2020.

Net debt fell by 315 million in the second half, down to 1,733 million at 31 December 2020 from 2,048 million at 30 June 2020.

The Group s consolidated financial statements have been audited. The audit report will be signed off once the specific verifications have been completed.

The Supervisory Board met on 25 February 2021 to review the financial statements.

1 On a consolidated basis.

2 2020 Revenue Passenger Kilometres ("RPK") down 65.9% (source: IATA)

3 Publication of 5 November 2020: "Adverse impact on full-year 2020 recurring EBIT in the region of 20% to 25% of the decrease in its 2020 revenue".

To read more:

Download the press release

Access the audiocast

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

Image 7 Contact

Anne M aux - Tel: 33 6 89 87 61 76

Investor Relations Contact

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 some 28,000 people and generated revenue of 4,439 million in 2020.

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.

To receive the latest Lagard re group press releases, sign up for the E-mail Alert.
LINK: http://www.lagardere.com/index.php?coe_i_id=363&idpress=7945...
See more stories from lagard

Most recent headlines

05/01/2027

Worlds first 802.15.4ab-UWB chip verified by Calterah and Rohde & Schwarz to be demoed at CES 2026

Worlds first 802.15.4ab-UWB chip verified by Calterah and Rohde & Schwarz to be ...

09/10/2026

Dolby Expands Dolby OptiView Platform with New Capabilities at IBC 2026

September 10 2026, 06:00 (PDT) Dolby Expands Dolby OptiView Platform with New Capabilities at IBC 2026 New Sports Intelligence helps providers better unders...

07/10/2026

Dalet Flex LTS Delivers Smarter Media Operations from Ingest to Distribution

Dalet, a leading technology and service provider for media-rich organizations, today announced the latest Long-Term Supported (LTS) release of Dalet Flex. Build...

30/09/2026

SVG Students To Watch: Jacquelynn Dupree, Clark Atlanta University

Drawn to the many moving pieces of a live broadcast, this Los Angeles native is building a path in production management and technical operations...

30/09/2026

NHL on TNT Opens New Season in 1080p HDR With Stanley Cup Final on the Horizon

TNT Sports goes big for its season opener in Philadelphia, and REMI workflows at Techwood will again anchor much of regular-season production...

30/09/2026

Katlyn Alexander Named CEO of Qvest North America

Qvest has appointed Katlyn Alexander as CEO of Qvest in North America, effective August 16, 2026. Alexander, who previously served as COO of Qvest US, succeeds ...

30/09/2026

AAPB Wraps 2026 Season with Record Viewership and Expanded Broadcast Footprint

The American Association of Professional Baseball (AAPB) has wrapped its 2026 season, with leaguewide attendance surpassing 1.4 million for the fifth consecutiv...

30/09/2026

Veritone Partners with ATP Media to License Tennis Archive in North America

Veritone has announced a multi-year content licensing agreement with ATP Media, the broadcast production and distribution arm of the ATP Tour, making ATP's ...

30/09/2026

Netflix To Stream WWE Exclusively in Japan Beginning October 1

Netflix has announced it will become the exclusive home for WWE programming in Japan beginning October 1, 2026. The lineup includes Raw, SmackDown, NXT, Premium...

30/09/2026

SES and Sky Extend Satellite Capacity Agreement for UK and Ireland

SES and Sky have announced a new multi-year agreement for direct-to-home satellite services across the United Kingdom and Republic of Ireland, running into the ...

30/09/2026

Big Blue Marble Adds Live Multiview Channels to Cloud Video Kit via AWS Elemental Dynamic Multiview

Big Blue Marble has announced the addition of live multiview channels to its Clo...

30/09/2026

NHRA Announces Multi-Year Media Rights Deals With FOX Sports, The CW, and FloSports

The NHRA has announced multi-year media rights agreements with FOX Sports, The C...

30/09/2026

FOX 5 Atlanta to Broadcast Nashville Predators Games in 2026-27 Season

FOX 5 Atlanta (WAGA-TV) will carry Nashville Predators games during the 2026-27 season as part of Scripps Sports' regional broadcast network for the team. G...

30/09/2026

SVG Sit-Down: Brahma AIs Patrio Cummins on the Possibilities of AI (and the Misconceptions)

AI was a big buzz on the IBC show floor but there weren't a ton of companies...

30/09/2026

PGA TOUR Names Ryan Holcomb Senior Vice President and Head of Original Content

The PGA TOUR has announced the appointment ofRyan Holcomb as Senior Vice President and Head of Original Content, according to The Hollywood Reporter. Holcomb wi...

30/09/2026

ESPN Drops the Puck on Enhanced Audio for the New NHL Season

The sound will be more immersive, with improved design and more mikes on the ice and the players The National Hockey League's season opener on Tuesday nigh...

30/09/2026

TNT Sports' Chris Brown, Lee Mabry on Beginning 2026-27 NHL Season With an Onsite Effort in Philly

TNT Sports is dropping the puck on the 2026-27 NHL season in a big way in Philad...

30/09/2026

International Swimming League Names Gravity Media as Production Partner

The International Swimming League ( ISL ) today announced the appointment of Gravity Media, global leader in live production and content and media services and ...

30/09/2026

Give Me the Backstory: Get to Know Amir Bar-Lev, the Director of The Last First: Winter K2

By Ramona Flume One of the most exciting things about the Sundance Film Festiva...

30/09/2026

Sync Audio release MegaMorph

Add an envelope generator to any plug-in Sync Audio's latest creation is a handy utility plug-in that can be used to combine and modulate other effects ...

30/09/2026

Strymon launch the La Brea

All-analogue tape-style drive joins Series A Strymon's reputation was built on their digital knowhow, so many were surprised (and intrigued) when they a...

30/09/2026

Sonuscore The Pulse: Synth Wave & Epic Atmospheres

Two new expansion packs released Sonuscore have just introduced two new expansion packs for The Pulse, its production engine instrument for modern cinematic...

30/09/2026

Clear-Com's Arcadia Central Station Brings Professional Production Communications to...

eds3_5_jq(document).ready(function($) { $(#eds_sliderM519).chameleonSlider_2_1({...

30/09/2026

AWARN Alliance Urges FCC to Let Broadcasters Tap Full 3.0 Capabilities

Share Copy link Facebook X Linkedin Bluesky Email...

30/09/2026

Senator Asks If All-GOP FCC Would Violate Federal Law

Share Copy link Facebook X Linkedin Bluesky Email...

30/09/2026

Marshall PTZ Cameras Bring Legendary Progressive Rock Exp...

The An Evening with Emerson, Lake and Palmer tour brings one of rock's most iconic bands back to the stage. These performances seamlessly blend live foota...

30/09/2026

Schibsted Media Chooses DHD RX2 and TX2 Mixers for Remote...

Schibsted Media, one of Norways largest and most influential digital media publishers and content producers, has invested in mixers and digital signal processor...

30/09/2026

Big Blue Marble adds live multiview channels to its video...

Big Blue Marble announces the addition of live multiview channels to Cloud Video Kit, its broadcast-grade video processing platform. The feature is powered by A...

30/09/2026

Telekom Slovenije brings local advertising to internation...

Leading video software provider Synamedia today announced that Telekom Slovenije, Slovenia's largest provider of telecommunications and TV services, is open...

30/09/2026

PODCAST EXPO 2026 Recorded Using Blackmagic Design Workflow

PODCAST EXPO 2026 Recorded Using Blackmagic Design Workflow Brie Clayton September 29, 2026 0 Comments Conference featuring 24 sessions over two days ...

30/09/2026

IBC2026 Show Report

IBC2026 Show Report David Kirk September 29, 2026 0 Comments The International Broadcasting Convention has long been Europe's equivalent of the US...

30/09/2026

SGO Unveils Workflows Slate To Enable Automated Burn-ins, Slates

Share Copy link Facebook X Linkedin Bluesky Email...

30/09/2026

Public Advocacy Group Urges Broadcasters to Stop Airing Trump Taxpayer Funded Ad

Share Copy link Facebook X Linkedin Bluesky Email...

30/09/2026

Qvest Promotes Katlyn Alexander to CEO, North America

Share Copy link Facebook X Linkedin Bluesky Email...

30/09/2026

Mavis Camera 8-2 adds iPhone 18 Pro Support with Variable...

Mavis has launched Mavis Camera 8.2, the latest release of its professional camera app for the iPhone and iPad. This update brings support for iPhone 18 Pro and...

30/09/2026

Harmonic Launches Recon Product Family Developed in Partnership with Comcast

New Solution Expands Harmonic's Network Intelligence Portfolio and Brings Comcast-Developed Fiber Monitoring Technology to Broadband Operators, Providing Re...

30/09/2026

A Look Back at (My) 524 Months with Broadcast Cameras

Thank you to Film-TV Video for the original article - you can view it here It was early 1983. I had just turned 21 when I joined Hitachi Denshi's European...

30/09/2026

Claire Brock and Sophie Morris discover how consumers can shop smarter in new RT documentary series

How to Shop Well Now starts Monday at 9.35pm on RT One and RT Player On the...

30/09/2026

From Training to Production, NVIDIA and CoreWeave Close the Loop on Agentic AI

Building on nearly a decade of co-engineering, CoreWeave has built NVIDIA compute, networking and software into a cloud purpose-built for AI that's still re...

29/09/2026

Oak View Group Names Cisco as Official Technology Partner

Oak View Group (OVG) has announced Cisco as an Official Technology Partner, with plans to standardize infrastructure across its venue network on Cisco solutions...

29/09/2026

SportsNet Pittsburgh Wins Three Mid-Atlantic Emmy Awards

SportsNet Pittsburgh (SNP) won three honors at the 2026 Mid-Atlantic Emmy Awards. Program awards went to Bucs BP in the Sports Program Live category (produced ...

29/09/2026

CBC, PWHL Revive Hockey Night in Canada' on Saturdays

The Professional Women's Hockey League has announced home openers for all 12 teams for the 2026-27 season, along with a broadcast partnership with CBC under...

29/09/2026

Manifold Technologies Recognized as MXL Contributor Following IBC Innovation Award

Manifold technologies has been recognized as a contributor to the Media eXchange...

29/09/2026

Fubo Launches My Local Sports RSN Add-On Package

FuboTV has announced My Local Sports, allowing subscribers in select markets to add their local regional sports network (RSN) as an add-on to a Fubo Sports subs...

29/09/2026

ANI Deploys Grass Valley AMPP and Framelight X for News Operations

Asian News International (ANI), a wire agency and video news provider based in India, has deployed Grass Valley's AMPP Media Operating System and Framelight...

29/09/2026

SABC Deploys Ikegami UHK-X600 Cameras for IP-Based Production

South African Broadcasting Corporation (SABC) has deployed Ikegami UHK-X600 cameras as part of an upgrade to IP-based production infrastructure. The deployment ...

29/09/2026

Busy in Bristol: ESPN Headquarters Come Alive With New Studio W, Remote-Production Workflows

REMI, REMCO models will drive the bulk of the broadcaster's NHL productions ...

29/09/2026

NASCAR Productions' Keith D'Alessandro on the Continued Evolution of Its Centralized Production Hub

Three years in, the facility is supporting more centralized race production, com...

29/09/2026

NBC Sports Brings Robust Sunday Night Baseball Production Playbook to MLB Wild Card Round

NBC, Peacock, and NBSN are carrying all four Wild Card series with a production ...

29/09/2026

Sundance Institute Announces 2026 Doc Fund Grantees

19 Nonfiction Projects Across All Stages of Production to Receive More Than $1 million in Support as Documentary Film Program Approaches 25th Anniversary LOS ...