Buoyant sales in the first quarter of 2015: 1,572 million, up 6% on a like-for like basis(1)
Lagard re confirms its target for recurring EBIT of fully consolidated companies(2) for 2015
Sales in the first quarter of 2015, stood at 1,572 million, compared to 1,526 million in Q1 2014, up 3% on a reported basis and up 6% like-for-like.
The difference between data on a reported basis and like-for-like is explained in part by a positive currency effect of 64 million, due primarily to appreciation by the US dollar, the pound sterling, and the Swiss franc, and in part by a negative scope effect (- 99 million), which breaks down as follows:
Miscellaneous effects of sales deconsolidation, amounting to 162 million with, essentially:
- at Lagard re Services: deconsolidation of Relay activities in train stations in France (creation of a joint venture with SNCF) as well as high-street Retail activities in Poland (now consolidated using the equity method after the disposal of 51% of Inmedio s capital); disposal in Switzerland of Press Distribution activities (Naville) and book stores (Payot);
- at Lagard re Active: disposal of 10 magazines.
And 63 million in acquisitions, notably for Lagard re Services (integration of Airest activities, primarily in Venice), Lagard re Active and Lagard re Publishing.
By division:
Lagard re Publishing : sales of 421 million ( 7.1% on a reported basis and -2.2% like-for-like), with contrasting performances: a very strong start of the year in France, particularly in General Literature, but business contracted in other geographic areas (notably English-speaking countries) in light of a slower publishing schedule.
Lagard re Services : sales of 794 million (-7.4% on a reported basis, and 3.2% like-for-like). Travel Retail continued its solid growth ( 6.7% on a like-for-like basis), while the trend in Distribution was still negative (-2.7%).
Lagard re Active : activity up at 204 million ( 1.1% on a reported basis and 2.8% like-for-like) thanks to the good performance of TV Production.
Lagard re Unlimited : Lagard re Unlimited: as anticipated, an excellent first quarter, driven by a favourable event schedule; sales are up very significantly to 153 million ( 108.3% on a reported basis, 85.1% on a like-for-like basis).
I. GROUP CONSOLIDATED SALES AND ACTIVITY Sales (in million) 2015/2014 Change
Q1 2014 Q1 2015
on a reported
basis like-for-like
LAGARD RE
1,526 1,572
3.0%
6.0%
Lagard re Publishing
393 421
7.1%
-2.2%
Lagard re Services
858 794
-7.4%
3.2%
Lagard re Active
202 204
1.1%
2.8%
Lagard re Unlimited
73 153
108.3%
85.1%
Lagard re Publishing A strong start of the year in France
Sales for the division totalled 421 million ( 7.1% on a reported basis and -2.2% like-for-like). The difference between reported and like-for-like sales was mainly due to a positive currency effect ( 29 million) primarily associated with the US dollar and pound sterling. The scope effect was also positive ( 8 million) including acquisitions made in the United Kingdom (Constable & Robinson in February 2014, Quercus in May 2014) and the disposal by Spanish group Anaya of its publishing subsidiary in Argentina, Aique, in September 2014.
Figures below are presented on a like-for-like basis.
In France, activity has grown significantly ( 10.4%), with good performances in General Literature, with best-sellers in every house (L'homme qui ment, by Marc Lavoine, at Fayard; Hippocrate aux enfers, by Michel Cymes, at Stock; Vernon Subutex, by Virginie Despentes, at Grasset; The Black Box, by Michael Connelly, at Calmann-L vy) and in the Paperback segment (major success of the Fifty Shades series after the film s release). Distribution and Illustrated Books also had a good start to the year.
In the United States, activity is in contraction (-12.3%) due to a less-intensive new release schedule than Q1 2014, and a downturn in sales of e-books, which can be traced to two factors: Q1 2014 was still benefitting from a very high activity level with Amazon, before the trade problems with the latter arose. In addition, the agreement signed with Amazon in November 2014 was implemented beginning in March. This agreement, which maintains the agency contract model (prices set by the publisher), is resulting in the gradual disappearance of e-book discounts, which caused a slight loss in volumes at the end of the quarter.
The change in sales in the United Kingdom (-4%) was due to:
- a less-intensive new release schedule than in Q1 2014;
- a dip in sales of e-books, related to the lower number of best-sellers, and an unfavourable VAT effect (in line with a new European regulation, the VAT rate applicable to sales of e-books is now the consumer-country rate and no longer the rate in the country where the distributor is located).
The change in sales in the Spain/Latin America zone (-5.6%) was caused notably by the non-renewal of one-off operations in Q1 2014.
The decline in sales of Partworks (-8.5%) was the result of a difficult environment in Russia and by a negative comparison effect on Q1 2014, which had been very strong ( 11% compared to Q1 2013), thanks to a number of releases at the end of 2013.
Digital: the transition to digital remains isolated to the English-speaking countries and the General Literature segment, which only accounts for about 40% in sales for the division.
- In the United States, where the digital market is in contraction, e-book sales made up 28% of total sales for the division in Q1 2015, compared with 34% in Q1 2014.
- In the United Kingdom, where the market seems to be stabilising, sales for digital stood at 26% of total sales compared with 28% in Q1 2014. E-books accounted for 36% of total Adult Trade(3) sales in Q1 2015, compared to 40% in Q1 2014.
In Q1 2015, Digital accounted for 12.2% of total
Most recent headlines
06/10/2025
France T l visions, France's leading broadcaster, has received the 2025 EBU ...
04/09/2025
Monumental Sports & Entertainment (MSE), in collaboration with Dalet, has been a...
30/08/2025
WASHINGTON The Federal Communications Commission has adopted its FY 2025 Regulatory Fees Order that establishes the regulatory fee rates for the broadcast stati...
29/08/2025
Australian Red Cross and SBS launch training to help workplaces in the fight aga...
29/08/2025
The National Film and Video Foundation (NFVF), an agency of the Department of Sp...
29/08/2025
L3Harris Technologies has concentrated decades of expertise across the entire enterprise to develop affordable and reliable best-of-breed solutions to rapidly c...
29/08/2025
BURBANK, Calif. The CW Network and the Pac-12 Conference have announced a new media rights deal that will extend their broadcast partnership beginning with the ...
29/08/2025
NEW YORK Gracenote has released a new analysis of its global video dataset showing that the number of FAST channels grew nearly 14% from Q1 2025 and 76% since 2...
29/08/2025
SAN JOSE, Calif. Harmonic has announced a series of improvements to its live sports streaming solution that the company said will improve fan engagement, protec...
29/08/2025
NEW YORK and LOS ANGELES Fox Corp. and YouTube TV last night announced a renewal of the full portfolio of Fox networks, including Fox News Channel, Fox Business...
29/08/2025
Budapest, Hungary, August 2025 - The integration of Microsoft Teams Rooms (MTR) with Lightware's Taurus universal matrix switchers delivers a new level of f...
29/08/2025
Frequency, the engine behind many of the world's best-known streaming television channels, today announced it will launch Studio Live, a next-generation uni...
29/08/2025
In an era when AI and cyber resilience are essential, Scality will mark the 10th anniversary of Scality Day on October 16, 2025 in Paris. This flagship global e...
29/08/2025
Disguise's In-House Creative and Technical Teams Pre-Visualised, Programmed and Delivered Content for the Experience, All Powered by EX 3+
Technology solu...
29/08/2025
Disguise will be demonstrating the latest workflows for TV, film and live events on a number of partner booths at the show
Disguise, the industry-leading tech...
29/08/2025
STOCKHOLM, Sweden Accedo will showcase Accedo Compose, its AI agent-powered modular orchestration layer that assists streaming providers in transitioning client...
29/08/2025
LOS ANGELES Cineverse has announced that it is working with Xperi to bring four of its streaming channels to automobiles for the first time as part of the DTS A...
29/08/2025
DALLAS & ATLANTA Gray Media has announced an agreement with the sports streaming service Victory+ to simulcast 17 Dallas Stars NHL games in 15 television market...
29/08/2025
NEW YORK AND CULVER CITY Comcast NBCUniversal and Amazon have announced new and extended distribution agreements that will expand the content available on their...
29/08/2025
FOOTHILL RANCH, Calif. RED Digital Cinema will feature its Cine-Broadcast Module supporting live broadcast workflows during IBC2025, Sept. 12-15, at the RAI Ams...
29/08/2025
29 Aug 2025
Kyivstar Rings Opening Bell at Nasdaq Marking Landmark Listing and ...
29/08/2025
More than half of all NFL games live on Sky for the first timeFriday 29 August 2025
Sky Sports has announced a new three-year deal with the NFL, extending its ...
29/08/2025
Back to All News
RIV4LRIES: The Trailer of the New Series With Samuele Carrino ...
29/08/2025
Get ready for an inspiring and emotional insight into the world of competitive Irish dancing with My Story: Tomi Champion of the World airing on RT 2 this monda...
29/08/2025
RT has today announced that David McCullagh is to be the new presenter of RT Radio 1's flagship Today programme, which airs every weekday at 10am, replaci...
28/08/2025
By Kristin Feeley, Director, Documentary Film & Artist Programs
If you want to tell untold stories, if you want to give voice to the voiceless, you've got ...
28/08/2025
Directed by Steven Bognar and Julia Reichert, Sundance Institute-supported Amer...
28/08/2025
Corridos have been a cornerstone of M sica Mexicana for generations, telling stories rooted in everyday life. Now, a new chapter is taking shape: motivational c...
28/08/2025
Los corridos han sido un pilar de la M sica Mexicana durante generaciones, contando historias enraizadas en la vida cotidiana. Ahora, un nuevo cap tulo est tom...
28/08/2025
Earlier this month, we promised our Verano Forever party would bring the heat, a...
28/08/2025
L3Harris will provide the Polish F-16V fleet with the Viper Shield electronic warfare system as part of an upgrade program....
28/08/2025
Bilbao, August 26, 2025 - AgileTV, an international television and video technol...
28/08/2025
Ken Wilkinson is an Emmy Awards nominated New York audio engineer who specialises in production sound mixing for film, commercial, episodic and documentary work...
28/08/2025
NEW YORK FuboTV today announced that it will launch Fubo Sports, a skinny bundle that focuses on sports with a subscription price of $56 monthly....
28/08/2025
NEVADA City, Calif. At IBC2025, Sept. 12-15 at the RAI Amsterdam, Telestream will debut its new Global Ingest strategy, introducing a next-generation ingest arc...
28/08/2025
Dr. Rhoda Bernard Releases Groundbreaking Debut Book on Accessible Arts Educatio...
28/08/2025
TAG Video Systems, the leader in software-based IP end-to-end workflow monitoring, deep probing, and real-time visualization, has named Oliver Gappa as Sales Di...
28/08/2025
AI-based voice enhancement will be among a series of innovations making their IBC 2025 debut on the DHD stand B46 in Hall 8 at the RAI Amsterdam Convention Cent...
28/08/2025
Telef nica Servicios Audiovisuales (TSA), the leading system integrator and service provider in the media sector in Spain, with the support of Appear, the globa...
28/08/2025
To fully immerse sailing fans in the world's biggest offshore yacht race, production company, Optical Media turned to LiveU's On-site Production solutio...
28/08/2025
Working with Calrec on its most recent overhaul, radio and television broadcaster, WNED has migrated to a fully IP infrastructure with multiple Type R consoles,...
28/08/2025
Cleeng, the Subscriber Retention Management (SRM ) inventor, has unveiled Cleeng Pro, the first-ever direct-to-consumer (D2C) subscription management platform t...
28/08/2025
Zixi, the industry leader in live broadcast-quality video over IP, today announced that French media distribution platform OKAST has selected Zixi to enable rel...
28/08/2025
Solution offers a streamlined, speaker-free architecture to optimize integration with premium external loudspeakers and advanced loudness metering
Nixer Pro Au...
28/08/2025
Cinegy, the premier provider of software-defined television technology, has announced a strategic partnership with Vision One Touch Film Production Services L.L...
28/08/2025
Telestream, a global leader in media workflow technologies, will debut its new Global Ingest strategy at IBC2025, introducing a next-generation ingest architect...
28/08/2025
Tier 1 operator selects Broadpeak to power high-performance, unified CDN solution across Norway, Sweden and Finland
Broadpeak, a leader in streaming and moneti...
28/08/2025
Leading video software provider, Synamedia, today announced that 24 Frames Digital, one of India's leading live event streaming service providers, has chose...
28/08/2025
Meet VisualOn at IBC2025: See What's Next in AI-Powered Video Streaming Join VisualOn at IBC2025 and discover how our AI-driven Optimizer and advanced media...
Buoyant sales in the first quarter of 2015: 1,572 million, up 6% on a like-for like basis(1)
