Lagardere : 2023 results ahead of expectations thanks to good momentum in travel retail
>Neutral rating maintained - Lagardère’s full-year 2023 results, reported yesterday evening, beat expectations, with recurrent EBIT of € 520m, vs our € 484m forecast. The surprise came from Lagardère Travel Retail where EBIT topped our expectations (€ 245m vs € 185m expected). Travel retail continues to see good momentum, with organic growth at 15% in Q4. Lagardère Publishing posted organic growth of 6% in Q4 vs our forecast of 1% while EBIT was in line with our expec...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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