Report
Jerôme Bodin

Lagardere : Review of our expectations: slight downward adjustment to our 2018 and 2019 estimates for the publishing and travel retail activities

>Slight slowdown in Q4 - In this note, we review our estimates for Lagardère for 2018 and 2019, particularly in the context of the “yellow vests” social movement in France and its impact on Lagardère Publishing and Lagardère Travel Retail. This will likely be slightly negative and prompts us to lower our expectations slightly. For Lagardère Publishing, we are counting on a limited rebound in 2019 (organic growth of +1%) due to the impact of the laborious reform of the...
Underlying
Lagardere SCA

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.

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Jerôme Bodin

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