Lagardère Group Reports Strong First-Quarter Revenue Growth for 2024

Lagardère S.A. has announced a significant increase in its revenue for the first quarter of 2024, showing a growth of 8.9% on a like-for-like basis. Total revenue for the period amounted to €1,883 million. This growth is primarily attributed to a robust performance in the Lagardère Travel Retail, which saw a 13.6% rise in revenue, fostered by a recovery in global air traffic.

The publishing segment of the company, Lagardère Publishing, reported a slight increase of 0.8% in revenue, buoyed by strong sales in the United States and United Kingdom. Meanwhile, the company's Other Activities, which includes entertainment venues among other interests, reported stable revenues but with negligible growth at 0.1%.

Arnaud Lagardère, Chairman and CEO, expressed satisfaction with the quarter's outcomes, highlighting the effective strategic models that have supported the company's revenue streams across diversified markets. Notably, the Travel Retail sector benefited from the integration of new acquisitions such as Tastes on the Fly and Marché International, further boosting its revenue performance.

The group also experienced a positive scope effect from acquisitions, though tempered by a mild negative currency impact driven by fluctuations in the US dollar and Chinese yuan. The earnings report has set a positive tone for the year, with the company looking to build on these early gains.