Lagardere : H1 2019 ahead of forecasts and another acquisition in Travel Retail
>Buy recommendation reiterated - Lagardère has reported higher than expected H1 earnings (EBIT of € 153m vs. € 140m expected) with an excellent performance by Lagardère Sports & Entertainment. The group confirmed its guidance for 2019, namely for pro-forma growth in EBIT of 4-6%. Other information provided was the acquisition of a new asset in travel retail, IDF, specialised in duty free for € 250m (8x EBITDA post synergies). The group therefore continued to redeploy ...Lagardere Groupe is a holding company. Through its subsidiaries, Co. is engaged in the media industry (news, education, culture and entertainment businesses). Co.'s main activities in the media industry can be divided into four separate divisions. Lagardere Publishing includes Co.'s Book Publishing and e-Publishing businesses. Lagardere Active encompasses Co.'s Magazine Publishing, Audiovisual (Radio, Television, Audiovisual Production), Digital and Advertising Sales Brokerage businesses. Lagardere Services encompasses the Travel Retail and Distribution businesses. Lagardere Unlimited specializes in sports and entertainment.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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