Lagardère Q1 20 sales down 12.5% organically (Publishing:-3.3%; Travel Retail: -18%). The latter was impacted by COVID-19 from mid-February and decreased by 54% in March as the virus spread across the board. Despite corrective actions from April, the group is unable to provide any precise FY20e guidance, estimating Travel Retail recurring EBIT “in the region of 20% to 25% of the decrease in its revenue” and Publishing’s ” in the region of 35% to 40%”. We e
30 Apr 2020
Going through a really dreadful period
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Going through a really dreadful period
Lagardere SA (MMB:PAR) | 0 0 0.8% | Mkt Cap: 3,246m
- Published:
30 Apr 2020 -
Author:
Véronique Cabioc'h -
Pages:
3
Lagardère Q1 20 sales down 12.5% organically (Publishing:-3.3%; Travel Retail: -18%). The latter was impacted by COVID-19 from mid-February and decreased by 54% in March as the virus spread across the board. Despite corrective actions from April, the group is unable to provide any precise FY20e guidance, estimating Travel Retail recurring EBIT “in the region of 20% to 25% of the decrease in its revenue” and Publishing’s ” in the region of 35% to 40%”. We e