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Lagardère: H1 sales reach E3,027m

( - Lagardère Group posted H1 sales of E3,027m, up 45.
8% as reported basis and up 38.6% LFL.

Lagardère Publishing's revenues amounted to 1,216 million euros, up 7.7% as reported (down 1.0% LFL). Lagardère Travel Retail revenues were up 103.2% as (+97.2% LFL) at 1,688 million euros.

Group recurring EBIT before associates was 107 million, i.e. an improvement of 104 million euros relative to June 2021.

Adjusted net income - group share (excluding non-recurring/non-operating items) amounted to 25 million euros, compared with a loss of -86 million euros in H1 2021.

Lagardère Publishing's consolidated revenues are expected to be flat in 2022. Profitability is expected to be affected by a less favourable market trend in a context of inflationary pressure on costs. Lagardère Publishing therefore expects an operating margin of just over 11% for 2022, it says.

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