Lagardère: posts FY 2020 loss of E688m

(CercleFinance.com) - The group announced FY 2020 sales of 4,324 million euros in 2020 on the target consolidation scope, down 37.
7% on a consolidated basis (down 38.3% like-for-like).

The group's operating loss reached E155m, compared with a profit of 378 million euros in 2019. In H2, group recurrent EBIT was positive at 63 million euros, marking a strong improvement of 281 million euros relative to the first half.

Total net income amounted to 688 million euros. The group made a net loss of 660 million euros, compared with a token loss of 15 million euros in 2019.

Net debt was reduced by 315 million euros in the second half of the year, with net debt of 1,733 million euros at 31 December 2020, compared with 2,048 million euros at 30 June 2020.


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