Suspension of market guidance and change in the dividend proposed to the General Meeting of 5 May 2020, in light of the Covid-19 pandemic Update on the impacts of Covid-19
At the time of the publication of the full-year 2019 results on 27 February 2020, the impacts of the Covid-19 epidemic were mainly being felt at Lagard re Travel Retail, and specifically in the Asia-Pacific zone and international travel hubs. At that time, the Group issued a 2020 recurring EBIT growth target of between 4% and 6% at constant exchange rates, excluding the acquisition of IDF and the effect of the Covid-19 epidemic, estimating the adverse impact on recurring EBIT in the first quarter of 2020 (before the impact of action plans) to be in the region of 20 million.
The effects of the epidemic have since extended to Lagard re Travel Retail's other operations and, to a lesser extent, to the rest of the Group's activities, given both the rapid spread of the virus and the government lockdowns and closures that have been ordered in many of the countries in which the Group has operations.
As stated in its initial response, the Group is working tirelessly to protect employees, customers and partners, and is also continuing to implement significant measures to mitigate the financial impacts in the following four areas: adapting sales and prices where possible, reducing overheads, reviewing investments, and reducing working capital.
Suspension of market guidance
In view of the uncertainty over the duration and scale of the epidemic and the government lockdowns and closures, the Group is unable to assess its impacts precisely and reliably. Accordingly, it is suspending the market guidance announced on 27 February 2020, and will provide an update as and when it is able to.
Change in the proposed dividend
In this context, the Managing Partners, after obtaining the favourable opinion of the Supervisory Board, have decided to modify the proposed ordinary dividend to be submitted to shareholders at the General Meeting to be held on 5 May 2020, in order to (i) reduce the amount of the dividend to from 1.30 to 1 per share, and (ii) withdraw the stock dividend option.
Subject to the approval of the shareholders at the General Meeting, the ex-dividend date for the proposed ordinary dividend for 2019 of 1.00 per share will be 7 May 2020, with the payment date set for 11 May 2020.
The Group's strategy of refocusing around Lagard re Publishing and Lagard re Travel Retail, two divisions that are highly complementary in terms of growth and profitability, produced positive results in 2019 with sharp increases in revenue, recurring EBIT and free cash flow within the Group's target scope.
While rigorously managing the current situation and its impacts, the Group remains fully engaged on executing its strategic plan, in the interest of all stakeholders, as ever.
In overcoming this crisis, the Group will draw on its historical strengths of boldness, independence and creativity to adapt to a world that is constantly changing, sometimes brutally.
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 Contact
Emmanuel Rapin Tel. +33 1 40 69 17 45 - erapin@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
To receive the latest Lagard re group press releases, sign up for the E-mail Alert.
Most recent headlines
11/12/2025
Dalet, a leading provider of cloud-native, end-to-end media workflow solutions, ...
03/12/2025
CINCINNATI GatesAir has introduced Maxiva XTK, an update to its Maxiva XTE software-defined TV exciter. XTK is a new cost-efficient model primarily developed fo...
03/12/2025
WUPPERTAL, Germany Riedel Communications is partnering with Haivision, a global provider of mission-critical, real-time video networking and visual collaboratio...
03/12/2025
WASHINGTON The Federal Communications Commission has opened a docket for comments on the proposed $6.2 billion Nexstar acquisition for Tegna and set deadlines f...
03/12/2025
MILAN, Italy Brightcove has released seven new features designed to expand global reach, improve audience engagement, enhance live-streaming quality and streaml...
03/12/2025
NEW YORK Great American Media said it plans to launch Pure Flix Familia, a dedicated Spanish-language platform, in 2026....
03/12/2025
SOUTHPORT, Conn. Main Street Sports Group has announced that the FanDuel Sports Network app is now available directly on Vizio and on smart TVs with Vizio OS. T...
03/12/2025
SAN JOSE, Calif. Harmonic has announced that Telia, the second-largest telecom operator in Norway, is modernizing its broadband network with the company's c...
03/12/2025
GREEN BAY, Wis. Sinclair said Jay Zollar, vice president and general manager of WLUK-WCWF here, will retire Dec. 31 after 26 years running the stations. Station...
03/12/2025
S an Nollaig
Celebrate 2025's top Irish sporting stars with RT Sport Awards live from RT Studios on RT One and RT Player
RT pays tribute to Ror...
02/12/2025
Case Study: How Mid-Atlantic Sports Network Moved to All-IP Distribution in 60 D...
02/12/2025
2025 Sports Broadcasting Hall of Fame: Lee Corso, Coach, Commentator, FirebrandBy Ken Kerschbaumer
Tuesday, December 2, 2025 - 7:00 am
Print This Story | S...
02/12/2025
SVG All-Stars: Dan Nabors, Senior Director, Remote Engineering, TNT SportsThe veteran tech leader is helping guide Warner Bros. Discovery's at-home' re...
02/12/2025
National Lacrosse League Opens Season With New Cloud-Based Official Replay-Revie...
02/12/2025
Platinum White Paper: The Cinematic Look in Live Production - Bridging Aesthetic...
02/12/2025
SVG India Announces Advisory Board; JioStar's Prashant Khanna Named ChairmanBy Ken Kerschbaumer
Tuesday, December 2, 2025 - 11:15 am
Print This Story |...
02/12/2025
SVG Summit 2025 Preview: New AI Production Tools Workshop' Features ESPN, F...
02/12/2025
Written and directed by Hailey Gates, Atropia won the U.S. Grand Jury Prize: Dramatic at the 2025 Sundance Film Festival....
02/12/2025
The lightweight and highly portable CORVUS-RAVEN, recently demonstrated at the V...
02/12/2025
The lightweight, rugged Panther 2 tri-band VSAT delivers high-speed data communications for Internet, VPN connectivity and video transmission over commercial an...
02/12/2025
eds3_5_jq(document).ready(function($) { $(#eds_sliderM519).chameleonSlider_2_1({...
02/12/2025
NGID volunteers in the United States
NGID volunteers in Mexico
NGID volunteers in India
NGID volunteers in Spain
NGID volunteers in Australia
NGID voluntee...
02/12/2025
WASHINGTON The Federal Communications Commission's Media Bureau has issued a reminder that stations in DMAs 111 through 120 must implement its audio descrip...
02/12/2025
SAN DIEGO Sony Electronics today introduced the Alpha 7 V (ILCE-7M5), the fifth generation of its Alpha 7 full-frame mirrorless lineup, powered by the newly dev...
02/12/2025
WASHINGTON The Federal Communications Commission has opened a docket for comments on Nexstar Media Group's proposed $6.2 billion acquisition of Tegna and se...
02/12/2025
WASHINGTON The National Association of Broadcasters has added a trio of media executives, Veronica Rodriguez, Matt Schnaars and Jeff Warshaw, to its board of di...
02/12/2025
MILAN, Italy Brightcove has released seven new features designed to expand global reach, improve audience engagement, enhance live-streaming quality and streaml...
02/12/2025
BCNEXXT, the developers of the advanced playout platform Vipe, today announced a new Service Provider Partner agreement with NPC Media, the Australian managed p...
02/12/2025
DPA Microphones today announces the immediate availability of its new N-Series Digital Wireless Microphone System for customers throughout the U.S. In addition ...
02/12/2025
Hiltron Communications reports a well attended and successful Space Tech Expo exhibition, held at the Messe Bremen from Tuesday November 18 through Thursday Nov...
02/12/2025
The beginning of September saw Riverfire by Australian Retirement Trust, in association with Channel 9 and Triple M, kick off the 2025 Brisbane Festival in spec...
02/12/2025
SGM Lighting is pleased to announce an exciting new partnership with ACT Entertainment, under which ACT will serve as the exclusive distributor for SGM's ne...
02/12/2025
Harmonic (NASDAQ: HLIT) today announced that Telia, the second largest telecom operator in Norway, is modernizing its broadband network with the company's i...
02/12/2025
European cloud data protection specialist Keepit is expanding its sales network in the DACH region and has gained TIM AG, one of the leading value-added distrib...
02/12/2025
Featured products at ISE 2026
This year s ISE 2026 theme "Push Beyond" reflects Calrec s direction of travel. The company is dedicated to supporting the AV an...
02/12/2025
Czech Television, the national public broadcaster, has deployed one of the largest LiveU live production projects in the region for live sports and news coverag...
02/12/2025
Test & measurement innovator, Leader Electronics, has announced the release of v8.2 software for its ZEN and ZEN-W Series, bringing advanced cinematic camera se...
02/12/2025
Global provider of video streaming software and services, Accedo, and OTT platform provider, Magine Pro, have signed a binding agreement to carve out and merge ...
02/12/2025
With proven success in broadcast, OTT, and content supply chains, K.S Avinash set to scale Skandha's service-first approach across APAC
Skandha Media Servi...
02/12/2025
AJA Video Systems has joined the RAVENNA community, a network of partners devoted to advancing the RAVENNA standard for distributing real-time audio over intern...
02/12/2025
HUNT VALLEY, Md. Sinclair and its wholly-owned subsidiary One Media Technologies have released a new report focused on how ATSC 3.0, the IP-based NextGen TV sta...
02/12/2025
WASHINGTON The Federal Communications Commission's Media Bureau has issued a reminder that stations in DMAs 111 through 120 must implement its audio descrip...
02/12/2025
WASHINGTON Members of the Advanced Television Systems Committee have elected four industry veterans to three-year terms on the organization's board of direc...
02/12/2025
A new survey from S&P Global Market Intelligence Kagan highlights how important social media is for younger consumers, with Gen Z spending 5.1 hours a day on so...
02/12/2025
Faculty Notes: Fall/Winter 2025 Recent accomplishments, releases, and events by Berklee faculty.
December 1, 2025
By
Editorial Staff
The cast of Kind of M...
02/12/2025
Today, Mistral AI announced the Mistral 3 family of open-source multilingual, multimodal models, optimized across NVIDIA supercomputing and edge platforms.
M...
02/12/2025
Ring In The Holidays With Our Biggest Sale Ever On Ivory II Pianos!From now until December 31st, you can save 50% or more on every Ivory II piano and collection...
02/12/2025
Back to All News
Made in America: How Stranger Things' Electrified the US Economy
Entertainment
02 December 2025
GlobalUnited States
Link copied to cl...
02/12/2025
Back to All News
Culinary Class Wars' Season 2 Trailer Teases New Rules, R...
Suspension of market guidance and change in the dividend proposed to the General Meeting of 5 May 2020, in light of the Covid-19 pandemic Update on the impacts of Covid-19 
