Lagardere : Q3 2022 revenue beats expectations, solid momentum in Travel Retail
>Neutral rating reiterated - Lagardère released its Q3 2022 revenue numbers yesterday, with Q3 revenue reaching € 1,981 and thus beating our forecast of € 1,716m. The momentum was stronger than expected in Travel Retail as well as Publishing. The recovery is proceeding apace and the summer provided support for the group, especially for its European TR activities. Meanwhile, Lagardère Publishing remains resilient but Q4 looks set to be trickier (-5%e organic). We have...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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