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Lagardere Sa — Lagardère SCA — Investor Presentation (December 2019)
76 slides from Lagardere Sa's investor presentation, December 2019
Slide 1: Investor Presentation December 2019
INVESTOR PRESENTATION December 2019
Slide 2: Disclaimer
DISCLAIMER Certain statements contained in this document are forward-looking statements (including objectives and trends), which address our vision of the financial condition, results of operations, strategy, expected future business and financial performance of Lagardère SCA. These data do not repr
Slide 3: Table of Content
TABLE OF CONTENT GROUP STRATEGY slide 4 GROUP PROFILE IN 2018 slide 15 slide 18 slide 21 slide 26 slide 29 GROUP PERFORMANCE IN H1 2019 slide 31 GUIDANCE slide 39 Appendix: business updates slide 41 3
Slide 4: Group Strategy
GROUP STRATEGY
Slide 5: Transforming the portfolio is part of the Group's DNA
TRANSFORMING THE PORTFOLIO IS PART OF THE GROUP’S DNA AND HELPS CREATE VALUE OVER THE LONG TERM Revenue by division Disposal of non-strategic businesses 2003 TV unit 5% (excl. Mezzo) Books 7.4% of 42% of 8% Press 7.5% of 16% Le Monde 20% of 36% Interactif Radio assets Distribution Distribution in So
Slide 6: Ongoing strategic refocusing with swift progress on the disposal plan
ONGOING STRATEGIC REFOCUSING WITH SWIFT PROGRESS ON THE DISPOSAL PLAN ANNOUNCED 2018 2019 June €14m January/ 42% stake February €41m Operations €73m in the July Central Europe February* €18m process of Africa, Asia being sold July/ October €55m Press February (excl. Paris Match, Le Journal du Dimanc
Slide 7: A leaner, more ambitious business profile refocused around two businesses
OUR TARGET: A LEANER, MORE AMBITIOUS BUSINESS PROFILE REFOCUSED AROUND TWO COMPLEMENTARY BUSINESSES ▪ A Group structured around two pillars to ensure each is given the necessary resources to lead its sector: Power engine Growth engine ✓ Structural growth outpacing GDP growth ✓ Growth decorrelated fr
Slide 8: Lagardère Publishing: creating a top global player (1/2)
LAGARDÈRE PUBLISHING: CREATING A TOP GLOBAL PLAYER THROUGH ACQUISITIONS, ORGANIC DEVELOPMENT AND AN INTERNATIONAL STRATEGY (1/2) Revenue evolution and cash flow from operations Leadership fuelled by acquisitions (2003-2019) before changes in working capital (€m) 2019 (2003-2018) 2018 2,252 2017 Reve
Slide 9: Lagardère Publishing: creating a top global player (2/2)
LAGARDÈRE PUBLISHING: CREATING A TOP GLOBAL PLAYER THROUGH ACQUISITIONS, ORGANIC DEVELOPMENT AND AN INTERNATIONAL STRATEGY (2/2) ▪ M&A activity has inflated PER of all large publishing companies ▪ High price must be offset by skillfull integration and quickly implemented synergies (back offices, dis
Slide 10: Lagardère Travel Retail has become a global leader (1/2)
LAGARDÈRE TRAVEL RETAIL HAS BECOME A GLOBAL LEADER THANKS TO ORGANIC GROWTH AND SELECTIVE ACQUISITIONS (1/2) Revenue evolution and cash flow from operations before changes in working capital (€m)* Development driven mainly by organic growth in 2003-2019 (2003-2018) Organic growth New concessions won
Slide 11: Lagardère Travel Retail has become a global leader (2/2)
LAGARDÈRE TRAVEL RETAIL HAS BECOME A GLOBAL LEADER THANKS TO ORGANIC GROWTH AND SELECTIVE ACQUISITIONS (2/2) • Strong and diversified concessions network • Selective past acquisitions at advantageous multiples with smooth integration and on-going synergies Lagardère has a track record of advantageou
Slide 12: Innovation is a driving force for our two businesses
INNOVATION IS A DRIVING FORCE FOR OUR TWO BUSINESSES Content creation Concept creation ▪ New activities (mobile games) ▪ Follow trends and create new concepts for ▪ New business models (Asterix licences, demanding travellers board games) ▪ Invent the commerce of tomorrow by ▪ New media (audiobooks,
Slide 13: A prudent and efficient financial strategy
A PRUDENT AND EFFICIENT FINANCIAL STRATEGY Thanks to the new business profile, structurally improved profitability and cash generation to finance the growth of our two leaders Cautious leverage ratio maintained within our comfort zone Stable ordinary dividend payout 13
Slide 14: A unique group combining both resilience and growth
A UNIQUE GROUP COMBINING BOTH RESILIENCE AND GROWTH ▪ A revisited, principal Corporate function ▪ Symbolic, prestigious assets A resilient power engine capable of further A growth engine capable of increased growth, with: profitability, with: ▪ Greater diversification (licences, mobile games ▪ Ongoi
Slide 15: Group Profile in 2018
GROUP PROFILE IN 2018
Slide 16: Most of our revenue and recurring EBIT is achieved through our two main pillars
MOST OF OUR REVENUE AND RECURRING EBIT IS ALREADY ACHIEVED THROUGH OUR TWO MAIN PILLARS 2018 revenue breakdown by region Latin America, Africa, Middle East 31% Asia- 3% of total revenue 51% of total revenue Pacific 9% 4 3 • Third-largest privately-owned • No. 4 in the global Travel Retail France US
Slide 17: A measured, well-balanced financial strategy
A MEASURED, WELL-BALANCED FINANCIAL STRATEGY A tight rein on net debt… A stable ordinary dividend payout... Historical dividends (€/share) €1,389m Ordinary dividend €1,375m €1,368m Extra dividend 2.2x 9.0 2.2x 2.1x** 5.4%*** 6.0 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 2016 2017 2018 2011 2012 2013 2014 2015
Slide 18: Lagardère Publishing
¢, |’ Lagardere | PUBHSHING Qs Jane Birkin Munkey Dia:
Slide 19: Successful portfolio of publishing businesses with leading positions
SUCCESSFUL PORTFOLIO OF PUBLISHING BUSINESSES WITH SOLID LEADING POSITIONS IN CORE MARKETS 2018 revenue by geographic area 2018 revenue by activity Other* Education Other France 17% 14% 18% 28% Illustrated Spain Books 6% Partworks 13% €2,252m 12% €2,252m US & UK & General Canada Australia Literature
Slide 20: Creating new opportunities out of emerging consumer behaviors
CREATING NEW OPPORTUNITIES OUT OF EMERGING CONSUMER BEHAVIORS AND NEW FORMS OF READING E-books E-books contribution to Lagardère Publishing's overall revenue: 7.9% in 2018. Audiobooks Audiobooks contribution to Lagardère Publishing's overall revenue: 2.7% in 2018. E-publishing Reinforcing leadership
Slide 21: Slide 21
Slide 22: Duty Free & Fashion, Travel Essentials, Foodservice
Annual Ordinary and Extraordinary General Meeting / 10 May 2019 STRATEGY DEPARTMENT Duty Free & Fashion Travel Essentials Foodservice 22
Slide 23: High growth business with leading positions in its 3 segments
HIGH GROWTH BUSINESS WITH LEADING POSITIONS IN ITS 3 SEGMENTS 2018 revenue by geographic area 2018 revenue by activity North Foodservice Asia- 17% America Pacific 35 countries 21% 13% on 5 continents Travel Essentials 43% €3,673m 257 airports* Duty Free €3,673m France & Fashion EMEA (excl. 24% 750 r
Slide 24: A growth engine capable of increased profitability
A GROWTH ENGINE CAPABLE OF INCREASED PROFITABILITY Travel Retail Recurring EBIT and margin* 140 3,3% 3,3% 3,5% 3,0% 120 3,0% 2,7% 119 100 2,4% 112 2,5% 1,9% 95 80 1,8% 2,0% 1,6% 1,6% 60 68 1,5% 60 40 1,0% 42 43 20 30 33 0,5% 0 0,0% 2010 2011 2012 2013 2014 2015 2016 2017 2018 Recurring EBIT Margin r
Slide 25: Improvement of cash generation backed by a resilient business model
IMPROVEMENT OF CASH GENERATION BACKED BY A RESILIENT BUSINESS MODEL Travel Retail Cash Flow from Operations* Breakdown of Capex** 175 4.3% 4.4% +66% 155 4.0% 4,0% 135 3.5% 56 54 224 115 50 207 3,0% 188 95 66 135 75 82 77 2,0% 55 83 35 44 1,0% 15 -5 0,0% 2015 2016 2017 2018 2015 2016 2017 2018 New st
Slide 26: Sports and Entertainment
SPORTS AND « ENTERTAINMENT “lagardere”
Slide 27: A global network combining international expertise with local market knowledge
A GLOBAL NETWORK COMBINING INTERNATIONAL EXPERTISE WITH LOCAL MARKET KNOWLEDGE 2018 revenue by geographic area 2018 revenue by activity Live Entertainment Media rights Other France 10% 16% 21% 18% Asia & €438m Other €438m Australia Germany 27% 17% 20% Marketing rights 47% Rest of Europe UK 11% 13% C
Slide 28: A successful recovery plan and growth secured with renewal of major contracts
A SUCCESSFUL RECOVERY PLAN AND A GROWTH SECURED WITH RENEWAL AND ADDITION OF MAJOR CONTRACTS DEVELOPING BRAND PRESERVING LONG STRENGHTENING CORE CONSULTING AND TERM PARTNERSHIPS SALES ACTIVITIES DIGITAL SERVICES Long-term partnerships ▪ Consolidate and expand ▪ Launch of Lagardère Plus, a comprehens
Slide 29: Lagardère Active
ACTIVE Lagardere
Slide 30: A diversified business mix with solid leading positions
A DIVERSIFIED BUSINESS MIX WITH SOLID LEADING POSITIONS 2018 revenue by geographic area 2018 revenue by activity Other Other 5% 16% Lagardère Non-Core France Studios Press Spain 24% 27% 7% 77% €895m €895m TV Press Channels 15% 12% International French Radio Radio Non-core business 3% 14% Retained bu
Slide 31: Group Performance in H1 2019
GROUP PERFORMANCE IN H1 2019
Slide 32: Highlights
HIGHLIGHTS ▪ Solid performance from our target scope: Lagardère Publishing and Lagardère Travel (€m) H1 2018* H1 2019 Retail +7.3% consolidated Revenue 3,366 3,612 +6.7% like-for-like** ▪ Strong performance of Group recurring EBIT** 139 153 Lagardère Sports and Entertainment due to Group operating m
Slide 33: Lagardère Publishing: Activity
LAGARDÈRE PUBLISHING: ACTIVITY H1 2019 revenue by geographic area H1 2019 revenue by activity Education Other France 11% Other 12%* 21% 28% 18% 21%* 27%* 17%* Illustrated Books 12% Spain Partworks 12%* 5% 14% 5%* 14%* US & UK & General Canada Australia Literature 30% 16% 45% 28%* 19%* 45%* * % of re
Slide 34: Lagardère Travel Retail: Activity
LAGARDÈRE TRAVEL RETAIL: ACTIVITY H1 2019 revenue by geographic area H1 2019 revenue by activity US & Canada Asia-Pacific 26% 12% 21%* 13%* Travel Duty Free & Essentials Fashion 40% 38% 43%* 41%* EMEA France (excluding 23% 24%* France) 39% 42%* Foodservice 22% 16%* * % of revenue in H1 2018 Change i
Slide 35: Lagardère Sports and Entertainment: Activity
LAGARDÈRE SPORTS AND ENTERTAINMENT: ACTIVITY H1 2019 revenue by geographic area H1 2019 revenue by activity Live Entertainment Other France 10% 27% 17% 10%* 19%* 19%* Media rights Germany 39% Marketing 18% 21%* rights 20%* 39% Asia & 50%* Australia 18% UK 18%* 9% Rest of Europe Other 15%* 11% 12% 9%
Slide 36: Lagardère Active: Activity
LAGARDÈRE ACTIVE: ACTIVITY H1 2019 revenue by geographic area H1 2019 revenue by activity Other Other 2% 40%** 19% 18%* Press 24% 15%* Lagardère Studios France 36% Spain 13% 68% 21%* 75%* 7%* French Radio 21% 14%* TV Other (Core) Channels 1% 16% Retained business 10%* Non-core business * % of revenu
Slide 37: Consolidated Statement of Cash Flows
CONSOLIDATED STATEMENT OF CASH FLOWS (€m) H1 2018* H1 2019 Cash flow from operations before changes in working capital 186 237 Changes in working capital (111) (173) Income taxes paid (11) (23) Cash flow from operations 64 41 Purchases of property, plant & equipment and intangible assets (119) (127)
Slide 38: Financing Policy
FINANCING POLICY ▪ Keeping a leverage ratio at 2.3x with strong ▪ Strong liquidity maintained. Recurring EBITDA . ▪ Next €500m bond maturity in September 2019 partially refinanced due to private placement (Schuldschein) issued in June 2019. Bonds Leverage ratio Bank loans and other Net debt/Recurrin
Slide 39: Guidance
GUIDANCE
Slide 40: Outlook 2019
OUTLOOK 2019 2019 RECURRING EBIT GROWTH TARGET BASED ON TARGET SCOPE The Lagardère group expects 2019 recurring EBIT(1) growth based on the target scope(2) to be between 4% and 6% at constant exchange rates and excluding the acquisition of HBF and IDF. NON-RETAINED BUSINESS SCOPE Based on constant e
Slide 41: Appendix: Business Updates
APPENDIX: BUSINESS UPDATES
Slide 42: Corporate Social Responsibility (1/2)
CORPORATE SOCIAL RESPONSIBILITY (1/2) A TRIPLE AMBITION TO COMBINE BUSINESS AND MEANING Placing people at the Anticipating and Acting as an ethical and heart of our strategy supporting social and responsible organisation environmental change ➢ Diversity and gender balance in ➢ Management of energy a
Slide 43: Corporate Social Responsibility (2/2): Lagardère's Materiality Matrix
CORPORATE SOCIAL RESPONSIBILITY (2/2) LAGARDÈRE’S MATERIALITY MATRIX 3,00 Access to education 2,75 and culture Stakeholders’ expectations 2,50 Personal data protection Diversity and gender balance in the workplace 2,25 Ethical sourcing Cultural pluralism and 2,00 Anti-corruption diversity measures A
Slide 44: Publishers are the irreplaceable link between authors and readers
PUBLISHERS ARE THE IRREPLACEABLE LINK BETWEEN AUTHORS & READERS Foresee trends Optimize profits Sales Management from production to Copyright sales Detect talent Sub- rights Protection Financials (Advance) Acquisition/assignments Editing (Agent) Promotion & Author Fact Negotiate contracts Sales auth
Slide 45: Digital performance and trends
DIGITAL PREFORMANCE AND TRENDS ▪ E-books: slow decline after peak in 2013 (US) and 2014 (UK) 20.8% 12.6% 17.4% 12.5% 11.1% 10.1% 10.8% 14.2% 12.8% 12.4% 20146 2015 7 2016 8 9 2017 10 2018 2014 2015 2016 2017 2018 ▪ Downloadable audiobooks: 25% to 30% annual growth rate 7.0% 3.6% 5.1% 4.0% 2.5% 3.4%
Slide 46: Perseus Acquisition
PERSEUS ACQUISITION EXPANSION OF NON-FICTION AND BACKLIST PUBLISHING PROGRAMS ▪ Date of creation: 1996. ▪ Date of acquisition: 1 April 2016. ▪ 2015 revenue: ≈ €90m ▪ Activities: Non-fiction / Backlist publishing programs. ▪ 9 imprints: Avalon Books, Basic Books, DACapo Press, Public Affairs, Running
Slide 47: Partworks collection edited by Lagardère Publishing
PARTWORKS COLLECTION EDITED BY LAGARDÈRE PUBLISHING 47
Slide 48: The travel retail market enjoys strong growth dynamics
THE TRAVEL RETAIL MARKET ENJOYS STRONG GROWTH DYNAMICS Estimated annual growth in global air traffic (in %, 2015-2040) – In number of passengers Europe North 3.7% America 2.8% Asia- Pacific 6.2% Middle East Latin 7.7% America Africa 4.6% 4.2% ► Lagardère Travel Retail is ideally placed on a market w
Slide 49: Key features and ratios of tender offers in airport travel retail
KEY FEATURES AND RATIOS OF TENDER OFFERS IN THE AIRPORT TRAVEL RETAIL ENVIRONMENT ✓ Contracts are awarded through tender offer processes where travel retail operators answer RFPs on “packages” depending on the retail space location and / or the product line targeted Business line Main ratios1 Duty F
Slide 50: Partner of choice
PARTNER OF CHOICE ▪ We have the widest and most diverse portfolio in Travel Retail TRAVEL ESSENTIALS DUTY FREE & FASHION FOODSERVICE Own brands Partner brands Bespoke brands 50
Slide 51: Relay, Paris Orly (France)
Relay, Paris Orly 3 (France)
Slide 52: Latest news in Travel Essentials
LATEST NEWS IN TRAVEL ESSENTIALS ▪ Since January 2019 OPEN OPEN OPEN Opening of Turkey and of the 1st Relay in Turkey 1st Relay in Gabon 12 relay stores Istanbul Sabiha Gökçen airport Libreville Airport In the Canary Islands OPEN OPEN OPENING SOON 7 POS (Relay, Paris Saint-Germain, Daily Monop’) on
Slide 53: Aelia Duty Free, Venice Marco Polo Airport (Italy)
Aelia Duty Free, Venice Marco Polo Airport (Italy)
Slide 54: Latest news in Duty Free
LATEST NEWS IN DUTY FREE CAMPAIGN ACQUISITION Prague Airport Duty Free tender won Lagardère Travel Retail signs an agreement to acquire IDF 19 shops to open in 2020 historical Belgian Duty Free operator (subject to closing) OPEN OPEN Opening of a 800 s.qm. The Fashion Gallery Aelia Duty Free Smart T
Slide 55: Beauty New Age by Buy Paris Duty Free, CDG Paris Airport
Beauty New Age by Buy Paris Duty Free, CDG Paris Airport (France) Application available on smartphones and tablets Customized recommendations 10 to 15 references 26,000 flavors More than 1,200 brands In 26 languages Perfumist X Aelia Duty Free Geolocalisation
Slide 56: Excellence in retail and food
EXCELLENCE IN RETAIL AND FOOD ▪ Be recognized as travelers’ preferred retailer by offering memorable by adapting by constantly innovating shopping and food to each environment for a seamless experiences & to each traveler profile customer journey 56
Slide 57: Latest news in Foodservice
LATEST NEWS IN FOODSERVICE ▪ Since January 2019 OPEN PARTNERSHIP OPENING SOON OPEN Bourbon Pub with Chef Michael Mina 1st Itsu restaurant to open Hong Kong International Takeover of 28 Smullers POS at San Francisco Airport at Paris Orly Airport Dutch Rail network, Netherlands ACQUISITION AWARDS AWAR
Slide 58: Diversified growth paths: organic growth (1/3)
DIVERSIFIED GROWTH PATHS: ORGANIC GROWTH (1/3) A strong development mainly driven by organic growth Bridge sales growth (€m at constant exchange rates, IFRS consolidated sales, 2017-2018) 41 294 (12%) 3,736*** (88%) 41 Existing concessions 131 +4.5%* +9.9% 163 New 3,401 concessions** 2017A Organic E
Slide 59: Diversified growth paths: organic growth (2/3)
DIVERSIFIED GROWTH PATHS: ORGANIC GROWTH (2/3) Growth has been driven by the award of major tender offers in all three businesses 2014 2015 2016 2017 2018 Reykjavik Krakow Hong Kong Phoenix Geneva Dakar Gabon San Francisco Vienna Melbourne T4 Auckland Luxembourg Gdansk Prague Gold Coast Malaga Orlan
Slide 60: Diversified growth paths: organic growth (3/3)
DIVERSIFIED GROWTH PATHS: ORGANIC GROWTH (3/3) A favourable product mix evolution (in €bn, revenue@100% 2016-2018) €4.2bn +8.1% €4.5bn +8.2% €4.9bn Liquor 6% 6% 6% Tobacco 17% 17% 17% Gourmet food 8% 9% 9% & confectionary Perfume & Cosmetics 14% 14% 14% Fashion 10% 11% 12% Food & Beverage 19% 21% 22
Slide 61: Diversified growth paths: selective M&A operations
DIVERSIFIED GROWTH PATHS: SELECTIVE M&A OPERATIONS Focus on M&A operations performed from 2014 to 2019 Airest Saveria Gerzon ▪ Closed in April 2014 ▪ Closed in April 2015 ▪ Closed in January 2014 ▪ 200 PoS in 11 countries ▪ 17 PoS located at JFK T4 ▪ 12 PoS in Schiphol airport ▪ Operations mainly in
Slide 62: Paradies Lagardère: creating a regional leader
PARADIES LAGARDÈRE: CREATING A REGIONAL LEADER Overview of Paradies Lagardère Paradies Lagardère 2017 key figures A new entity managed A unique and #3 by an experienced complementary North in North leadership team American footprint America 98 airports 6,000 employees A brand portfolio tailor A stro
Slide 63: Acquisition of Hojeij Branded Foods (1/3)
ACQUISITION OF HOJEIJ BRANDED FOODS: REINFORCING LAGARDÈRE TRAVEL RETAIL IN NORTH AMERICA AND IN FOODSERVICE GLOBALLY (1/3) HBF 2017 Profile of HBF key figures Successful acquisition Leading airport Recognised operational in 2017 of Vino Volo, Foodservice travel excellence with leading 124 #1 airpor
Slide 64: Acquisition of Hojeij Branded Foods (2/3)
ACQUISITION OF HOJEIJ BRANDED FOODS: REINFORCING LAGARDÈRE TRAVEL RETAIL IN NORTH AMERICA AND IN FOODSERVICE GLOBALLY (2/3) Strategic rationale ▪ A large travel foodservice market (50% of total North American travel retail market) supported An attractive travel by sound drivers and significant poten
Slide 65: Acquisition of Hojeij Branded Foods (3/3)
ACQUISITION OF HOJEIJ BRANDED FOODS: REINFORCING LAGARDÈRE TRAVEL RETAIL IN NORTH AMERICA AND IN FOODSERVICE GLOBALLY (3/3) Expected synergies ▪ Roll-out of HBF concepts/brands, well positioned for specific consumer needs Sales uplift synergies ▪ Improved menu tailoring and customer targeting ▪ Oper
Slide 66: Acquisition of International Duty Free (1/3)
ACQUISITION OF INTERNATIONAL DUTY FREE: REINFORCING LAGARDÈRE TRAVEL RETAIL COMPETITIVE POSITION IN EUROPE (1/3) IDF 2018 Profile of IDF key figures Belgium’s leading High-quality Duty Free Unique Premium Travel Retail operator & Fashion outlets, all Chocolate retail with long-term recently refitted
Slide 67: Acquisition of International Duty Free (2/3)
ACQUISITION OF INTERNATIONAL DUTY FREE: REINFORCING LAGARDÈRE TRAVEL RETAIL COMPETITIVE POSITION IN EUROPE (2/3) Strategic rationale A mature and secured ▪ Secured existing operations and mid-term development opportunities in Belgium: ✓ Long-term contracts on mature platforms (Brussels and Charleroi
Slide 68: Acquisition of International Duty Free (3/3)
ACQUISITION OF INTERNATIONAL DUTY FREE: REINFORCING LAGARDÈRE TRAVEL RETAIL COMPETITIVE POSITION IN EUROPE (3/3) Expected synergies ▪ Alignment of purchasing conditions to the extent possible on Retail products and Chocolates COGS1 synergies ▪ Consolidation of volumes between Lagardère Travel Retail
Slide 69: Abu Dhabi International Airport: a major step in Middle-East
ABU DHABI INTERNATIONAL AIRPORT: A MAJOR STEP IN MIDDLE-EAST Overview of Abu Dhabi contract awarded ▪ 10-year contract on core duty free categories, confectionery and fine foods Key ▪ 13 PoS over 3,000 sq.m. figures ▪ 10-year estimated cumulated revenue: €2.1bn ▪ 7 Food and Beverage contracts awarde
Slide 70: 2019 Sports Events Calendar
2019 SPORTS EVENTS CALENDAR 2019 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter AFCON AFCON U20 AFCON U17 AFCON U23 AFCON Qualifiers (matchday 6) Football Africa Champions League & Confederation Cup 2018-19 Super Cup Super Cup (for CL&CC 2018) (for CL&CC 19) AFC Champions League + AFC Cup Football
Slide 71: Appendix: Financial Updates
APPENDIX: FINANCIAL UPDATES
Slide 72: An excellent shareholder return
AN EXCELLENT SHAREHOLDER RETURN 270 Lagardère share: +106% 250 Shareholder return* Indexes based (100 at 1 January 2013) 230 210 190 170 150 CAC 40: +94% STOXX Europe 600 Media: +95% 130 110 90 01/01/2013 01/01/2014 01/01/2015 01/01/2016 01/01/2017 01/01/2018 01/01/2019 Lagardère CAC 40 Stoxx Europe
Slide 73: Glossary (1/3)
GLOSSARY (1/3) Lagardère uses alternative performance measures which serve as key measures of the Group's operating and financial performance. These indicators are tracked by the Executive Committee in order to assess performance and manage the business, as well as by investors in order to monitor t
Slide 74: Glossary (2/3)
GLOSSARY (2/3) ▪ The like-for-like change in revenue is calculated by comparing: • H1 2019 revenue to exclude companies consolidated for the first time during the period, and H1 2018 revenue to exclude companies divested in H1 2019; • H1 2019 and H1 2018 revenue based on H1 2018 exchange rates. ▪ Op
Slide 75: Glossary (3/3)
GLOSSARY (3/3) ▪ Adjusted profit – Group share is calculated on the basis of profit for the period, excluding non-recurring/non-operating items, the related tax effect and minority interests, as follows: Profit for the period excluding: • Gains (losses) on disposals of assets; • Impairment losses on
Slide 76: Lagardère IR Team
LAGARDÈRE IR TEAM IR team details Calendar* (all time is CET) Florence Lonis • Publication of full-year 2019 results 27 February 2020 at 5:35 p.m. Chief of Investor Relations Tel: +33 1 40 69 18 02 [email protected] Nicolas Bogler Investor Relations Officer Tel: +33 1 40 69 67 88 nbogler@lagardere
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