ird-quarter 04 net sales
13/11/2014
2014 Recurring Media EBIT(1) target confirmed
Listen to the conference call
Download in mp3 format
Download press release in pdf
Third-quarter 2014
Net sales totalled 1,903 million, up 1.4% on a reported basis (vs. -1.2% at end June 2014) and down 1.2% on a like-for-like basis(2) (vs. -2.6% at end June 2014). The difference between reported and like-for-like sales is mainly due to a positive scope effect ( 46 million), while the foreign exchange effect was negligible.
This quarter was marked by an accelerated growth of Travel Retail ( 13.2% on a reported basis, 5.8% on a
like-for-like basis) and by the improvement in trends for Lagard re Active that offset the unfavourable comparison effect with 2013 for the other activities.
By division:
- Lagard re Publishing: Performance (-1.2%) was affected by an unfavourable comparison effect in General Literature in France and the United States, as well as the significant impact of the lack of renewals for Textbook programmes in France. Momentum for Partworks was insufficient to offset these trends.
- Lagard re Services: Accelerated growth in Travel Retail compared to the first half, carried by Duty Free and Food Services.
- Lagard re Active: Significant improvement in trends (-1.6% like-for-like) thanks to good performances by Radio internationally ( 12.2%), the catching-up on deliveries in TV Production ( 6.6 %) and the lesser decline in Magazine Publishing (-3.5%).
- Lagard re Unlimited: Activity (-5.8% like-for-like) is affected by the gradual termination of media rights contracts with European soccer federations, due to rights centralisation decided by the UEFA.
At 30 September 2014
At 30 September 2014, net sales totalled 5,267 million, down 0.3% on a reported basis and 2.1% on a like-for-like basis. The difference between data on a comparable basis and like-for-like is explained by a positive scope effect of 139 million (primarily due to acquisitions made in Travel Retail and, to a lesser extent, by Lagard re Publishing and in TV Production), partially offset by a negative exchange effect of - 44 million (due to depreciation of the US, Australian and Canadian dollars, partially compensated by the appreciation of the Pound Sterling).
In the first nine months of the year, the trend in sales was due essentially to an unfavourable comparison effect, with an especially strong first half of 2013 at Lagard re Publishing (the publication of several best-sellers) and in Audiovisual Production (an atypical delivery schedule in 2013), as well as a negative calendar effect at Lagard re Unlimited.
In addition, the good momentum in Travel Retail activities ( 9.9% on a reported basis, 4.8% like-for-like), driven by the favourable trend in passenger traffic, development of Duty Free and Food Services, as well as the roll-out of new concepts, offset the decline in press and the difficult advertising environment.
Excluding the impact of the end of tobacco sales in Hungary, already known, the Groups activity declined just -1.2% on a like-for-like basis over the first nine months of the year.
I. GROUP CONSOLIDATED NET SALES AND ACTIVITY Net sales at 30 September (in m)
Change
At 30 September
2013
At 30 September
2014 Change (reported) Change (like-for-like)
LAGARD RE 5,282 5,267
-0.3 %
-2.1%*
Lagard re Publishing
1,497 1,467 -2.0%
-2.9%
Lagard re Services
2,796 2,888 3.3%
0.7%**
Lagard re Active
687 643 -6.5%
-7.5%
Lagard re Unlimited
302 269 -10.8%
-11.9%
*-1.2%, excluding the end of tobacco sales in Hungary.
** 2.4%, excluding the end of tobacco sales in Hungary.
Net sales in Q3 (in m)
Change
Q3 2013
Q3 2014 Change (reported) Change (like-for-like)
LAGARD RE 1,877 1,903 1,4% -1,2%*
Lagard re Publishing
580 564 -2.9%
-5.9%
Lagard re Services
983 1,036 5.5% 2.3%**
Lagard re Active
216 208 -3.7% -1.6%
Lagard re Unlimited
98 95 -2.9% -5.8%
*-1.1%, excluding the end of tobacco sales in Hungary.
** 2.5%, excluding the end of tobacco sales in Hungary.
Lagard re Publishing
Net sales at 30 September 2014 stood at 1,467 million, down 2% on a reported basis and down 2.9%
like-for-like, with the difference explained by a positive scope effect ( 19 million) offset by a negative exchange effect (- 6 million).
As expected, activity was marked by an unfavourable comparison effect due to the very good performances recorded in 2013, with many best-sellers in General Literature, especially in France. Also note the significant decline in activity in Education, due to the lack of renewal for Textbook programmes in particular in France. English-speaking countries were down slightly (-2% in the UK, -3.5% in the US), due to an unfavourable comparison effect with 2013, and the situation in e-books in the United States. Partworks continued their strong incline ( 5.7%), thanks to successful launches of collections in late 2013.
Third-quarter 2014:
Activity totalled 564 million, down 2.9% on a reported basis and down 5.9% on a like-for-like basis. The scope ( 12 million) and exchange ( 6 million) effects were positive.
In France (-6.6%), activity was down from the third quarter of 2013, which benefited from the continued success of volumes 2 and 3 of the Fifty Shades series, and the summer sales of Dan Browns Inferno. Education activity was down significantly due to the lack of renewal for Textbook programmes.
In the United States, the change in sales (-18.5%) was strongly influenced by an unfavourable comparison effect with the third quarter of 2013 (with 11% growth) - which had an unusually high number of best-sellers (specifically The Longest Ride, by Nicholas Sparks). In addition, the difficult situatio
LINK: | http://www.lagardere.com/press-room/press-releases/press-releases-363.... |
See more stories from lagard |
Most recent headlines
04/08/2024
Dalet Appoints Santiago Solanas as CEO to Lead Next Era of Growth and Innovation
Dalet, a leading technology and service provider for media-rich organizations, is excited to announce Santiago Solanas as its new Chief Executive Officer (CEO)....
03/06/2024
Dalet and Veritone Reach Agreement to Distribute, Transact and Monetize Media Archives
Dalet, a leading technology and service provider for media-rich organizations, a...
02/05/2024
Reality Slips Away in the Eerie I Saw the TV Glow
PARK CITY, UTAH - JANUARY 18: Jane Schoenbrun introduces the 2024 Sundance Film Festival I Saw the TV Glow premiere at the Library Center Theatre in Park City...
02/05/2024
Meet the 10 Hampton University Students Receiving Spotify NextGen's Scholarship
Spotify is committed to amplifying the voices of underrepresented groups, and th...
02/05/2024
Advertisers and Creators Come Together at Our First-Ever Spotify Sparks in London
With more than 600 million users around the world tuned in to Spotify, there'...
02/05/2024
Gear up for the 2024 Cycling Grand Tours on Australia's Home of Cycling, SBS
Gear up for the 2024 Cycling Grand Tours on Australia's Home of Cycling, SBS Media releases All of the rivalry begins with the Giro d'Italia this we...
02/05/2024
New SBS documentary dives into one of Australia's greatest underdog stories of all time!
New SBS documentary dives into one of Australia's greatest underdog stories ...
02/05/2024
Alone Australia cements its place as one of Australia's biggest hits of 2024
Alone Australia cements its place as one of Australia's biggest hits of 2024 2 May, 2024 Media releases Alone Australia has cemented its place as one o...
02/05/2024
The Making of All of Us Strangers
I always like to base my lighting choices in reality, says cinematographer Jamie D. Ramsay, SASC. For his recent collaboration with writer-director Andrew Haig...
02/05/2024
Hiltron Introduces Field-Upgradable Motorisation Kit for CPI 2385 Satcom Antenna
Accompanying image shows Hiltron's new HMAM-based field-upgradable motorisation kit for the CPI 2385 satellite communications antenna. Backnang, Germany,...
02/05/2024
Millennium Space Systems Selects L3Harris to Build Space Development Agency Electro-Optical Infrared Payloads
MELBOURNE, Fla., May 2, 2024 - L3Harris Technologies (NYSE:LHX) has received a c...
02/05/2024
Samba TV Launches New Generative AI Ad Solution
NEW YORK Samba TV is debuting new capabilities for Samba AI, the company's suite of generative AI technologies. Samba AI's new capabilities provide a re...
02/05/2024
Television Academy Foundation Names Anne Vasquez Executive Director
LOS ANGELES The Television Academy Foundation has announced the appointment of Anne Vasquez as its executive director effective May 13....
02/05/2024
SAG-AFTRA to License Nielsen Streaming Data
NEW YORK SAG-AFTRA has inked a deal with Nielsen to become its third-party provider of streaming content measurement and has announced that it will use the Niel...
02/05/2024
Cineverse Unveils Public Beta of AI-Powered cineSearch
LOS ANGELES Cineverse has debuted cineSearch, its previously announced new content search and discovery service in public Beta....
02/05/2024
Can AI find a way to reduce the broadcast industry's energy consumption?
OpenDrives Trevor Morgan asks if AI has the answer to making data centres for the media and entertainment industry more sustainable By Contributor Published:...
02/05/2024
Bill Baggelaar Asks the Questions: An Unfiltered Look at Media Supply Chain Transformation
Bill Baggelaar Asks the Questions: An Unfiltered Look at Media Supply Chain Tran...
02/05/2024
Two Boston Conservatory at Berklee Alums Nominated for Tony Awards
Two Boston Conservatory at Berklee Alums Nominated for Tony Awards An additional eight alums and two current students performed in nominated productions. By...
02/05/2024
Viewers Call Finding New TV Content Frustrating' in Comcast Advertising Report
A majority of viewers 51% said the difficulty in finding new content on TV c...
02/05/2024
Programming Legend Art Moore Retiring After 53 Years With ABC Stations
Art Moore, who headed production of long-running syndicated series, including Live, said he plans to retire in September as VP of programming for WABC New York....
02/05/2024
Nexstar Will Move The CW Affiliation to WGN Chicago
Nexstar Media Group, which owns The CW, said the network's affiliation will be moving to Nexstar-owned WGN Chicago....
02/05/2024
Future Today Puts First Original Shows on Fawesome Channel (NewFronts)
Future Today said that it plans to launch the first original shows on its Fawesome streaming channel....
02/05/2024
Behind the Music' Returns on Paramount Plus
Behind the Music is back on Paramount Plus with new episodes May 1. Those profiled in the season two episodes are Bell Biv DeVoe, Trace Adkins and Wolfgang Van ...
02/05/2024
All American: Homecoming' Returns on The CW July 8
All American: Homecoming starts season three on The CW Monday, July 8, while season two of 61st Street kicks off Monday, July 22....
02/05/2024
Jerry Seinfeld's Pop-Tart Movie Starts on Netflix May 3
Unfrosted, a movie about the race to create a game-changing breakfast pastry, such as, say, the Pop-Tart, debuts on Netflix May 3. Jerry Seinfeld directs, his f...
02/05/2024
Former BT Sport COO Jamie Hindhaugh joins EMG / Gravity Media
Charlie Cubbon has also been appointed chief operating officer By Matthew Corrigan Published: May 2, 2024 Charlie Cubbon has also been appointed chief ope...
02/05/2024
Durable Goods Signs Lionel Coleman
Durable Goods Signs Lionel Coleman Brie Clayton May 2, 2024 0 Comments Durable Goods has signed multi-hyphenate director Lionel Coleman for commercial...
02/05/2024
Hitsujibungaku's Music Video GO!!! Shot by Kyotaro Hayashi with Blackmagic Cinema Camera 6K
Hitsujibungaku's Music Video GO!!! Shot by Kyotaro Hayashi with Blackmagic C...
02/05/2024
Diamond Sports RSNs Go Dark On Comcast Systems
Bally Sports Regional Networks were taken off Comcast's systems on April 30 when their existing distribution agreement expired and Diamond Sports Group was ...
02/05/2024
Diamond Sports Group, DirecTV Renew Distribution Deal
SOUTHPORT, Conn. and EL SEGUNDO, Calif. Diamond Sports Group ( Diamond or the Company ) and DirecTV have announced that they have reached a multi-year renewal...
02/05/2024
Three Nexstar Stations to Become CW Affiliates
IRVING, Texas Nexstar Media Group has announced that its owned and operated television stations in Chicago, Illinois (DMA #3), Norfolk, Virginia (DMA #43), and ...
02/05/2024
FCC, FTC Ink Agreement to Cooperate on Net Neutrality Enforcement
WASHINGTON, D.C. The Federal Communications Commission and Federal Trade Commission have signed a Memorandum of Understanding to coordinate consumer protection ...
02/05/2024
Haivision Celebrates 20th Anniversary
MONTREAL Haivision Systems Inc. is marking its 20th anniversary by detailing some of the accomplishments and developments that have helped the company become a ...
02/05/2024
Agora Introduces Adaptive Video Optimization Technology
SANTA CLARA, Calif. Agora today unveiled its Adaptive Video Optimization (AVO) technology that uses machine learning to adjust parameters dynamically at every s...
02/05/2024
Study: Streaming Market Is Saturated But Subscriptions Continue to Grow
NEW YORK Kantar has released a new study showing the U.S. streaming market has hit a saturation point, with the household penetration rate stagnating and at nea...
02/05/2024
Samba TV To Spotlight New Capabilities For Generative AI Ad Solution
NEW YORK Samba TV is debuting new capabilities for Samba AI, the company's suite of generative AI technologies, at the 2024 IAB (Interactive Advertising Bur...
02/05/2024
GSTV Pumps Up Research, Programming at NewFront
GSTV, the network that programs screens at gas stations, will be talking about new research and new programming at its NewFront presentation Wednesday....
02/05/2024
EMG / Gravity Media Taps Jamie Hindhaugh To Head Up UK, US, Australia, and Middle East; Names Charlie Cubbon as COO
EMG / Gravity Media appoints Charlie Cubbon COO and Jamie Hindhaugh regional CEO...
02/05/2024
Watch SVG NEXT Conversations, Ep. 2: How XR and Other Emerging Technologies Are Transforming the Landscape of M&E'
Watch SVG NEXT Conversations, Ep. 2: How XR and Other Emerging Technologies Are...
02/05/2024
SVG Sit-Down: Program Productions' Bob Carzoli, Integrum's Kathy Reiland on the Strategy Behind the New Alliance
SVG Sit-Down: Program Productions' Bob Carzoli, Integrum's Kathy Reiland...
02/05/2024
YES Network App Logs Record Usership With New Expanded Pick-N-Play Live Interactivity, YES Rewards
YES Network App Logs Record Usership With New Expanded Pick-N-Play Live Interact...
02/05/2024
Rohde & Schwarz presents its test solutions at CCW 2024 that enable a successful migration to mission-critical broadband
Rohde & Schwarz presents its test solutions at CCW 2024 that enable a successful...
02/05/2024
Baselight training. Paris. Les Lapins Bleus. 27-31 May 2024
Baselight accredited training partner, Les Lapins Bleus, is conducting a five day Baselight training course in Paris in May. Location: Paris Dates: 27-31 May ...
02/05/2024
Skeem Saam: Wednesday's episode, 1 May 2024 [video]
Skeem Saam: Wednesday's episode, 1 May 2024 [video]Missed an episode of Skeem Saam? No problem! Watch the latest episode of your favourite South African soa...
02/05/2024
Prison Journalism: It's alright not to have
Prison Journalism: It's alright not to haveWesley Leong was incarcerated at the age of 15 in 1996 at Pollsmoor Prison. He is currently part of Restore's...
02/05/2024
Tonight on Smoke and Mirrors: Thandiswa's quest to reclaim Caesar's house intensifies
Tonight on Smoke and Mirrors: Lulu navigates the complexities of her relationshi...
02/05/2024
GeForce NOW Delivers 24 A-May-zing Games This Month
GeForce NOW brings 24 new games for members this month. Ninja Theory's highly anticipated Senua's Saga: Hellblade II will be coming to the cloud soon -...
02/05/2024
NVIDIA AI Microservices for Drug Discovery, Digital Health Now Integrated With AWS
Harnessing optimized AI models for healthcare is easier than ever as NVIDIA NIM,...
02/05/2024
ARRI announces the ALEXA 35 Live - Multicam System
ARRI announces the ALEXA 35 Live - Multicam System posted: 02/05/2024 Arri Alexa 35 Live - Multicam System ARRI announces the ALEXA 35 Live - Multicam Sy...
02/05/2024
The Women': Author shines light on forgotten women in war
The Women': Author shines light on forgotten women in warThe bestselling author of The Nightingale', Kristin Hannah, has outdone herself with her new h...