Very poor H1 20 results with total revenues down 38% organically as the Travel Retail division was badly hit by travel restrictions linked to COVID (-55%). Consolidated recurring EBIT recorded a €218m loss i.e. a €306m decline of which €255m attributable to Travel Retail. The group loss reached €481m (H1 19: +€52m). Still highly uncertain H2 20 outlook namely for Travel Retail (59% of FY19 total revenues and c.40% of adjusted OP). We expect further downgrades to our f
31 Jul 2020
Moving to an operating loss in H1 20
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Moving to an operating loss in H1 20
Lagardere SA (MMB:PAR) | 0 0 0.8% | Mkt Cap: 3,246m
- Published:
31 Jul 2020 -
Author:
Véronique Cabioc'h -
Pages:
4
Very poor H1 20 results with total revenues down 38% organically as the Travel Retail division was badly hit by travel restrictions linked to COVID (-55%). Consolidated recurring EBIT recorded a €218m loss i.e. a €306m decline of which €255m attributable to Travel Retail. The group loss reached €481m (H1 19: +€52m). Still highly uncertain H2 20 outlook namely for Travel Retail (59% of FY19 total revenues and c.40% of adjusted OP). We expect further downgrades to our f