Report
Jerôme Bodin

Lagardere : 2021 conference call, slight increase in our estimates for travel retail

>Neutral rating reiterated - Lagardère held a conference call yesterday following its 2021 results. Based on this release we have slightly increased our estimates. We notably factored in slightly stronger growth in 2022 than previously anticipated for Lagardère Travel Retail with an automatic effect on profitability. Our forecasts for Lagardère Publishing are largely unchanged. The base of comparison is admittedly challenging but we expect very slight growth (+1%) in...
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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