Lagardère Reports 6.4% increase in sales for 1998

Lagardère

’s consolidated sales for 1998 totaled euros 10,692 million (FRF 70,137 million), compared with euros 10,047 million (FRF 65,903 million) for 1997, representing a 6.4% increase.

Excluding changes in group structure and exchange rates, sales increased 3.7%.

(1) Excluding changes in group structure and exchange rates.
(2) Note: In 1998, Matra Transport International is no longer included in the consolidated sales. Matra Transport International contributed euros 71 million (FRF 463 million) in sales in 1997.
(3) NS: Not significant

Growth breakdown by business sector:

• The significant increase in High Technologies’ sales is attributable to buoyant sales in the “Defense” division.
  The backlog increased by 6.7% in 1998 to euros 7.7 billion (FRF 51 billion) compared with euros 7.3 billion (FRF 47.6 billion) in 1997. The respective backlogs for “Defense” and “Space” are euros 5.9 billion (FRF 38.8 billion) and euros1.7 billion (FRF 11 billion).
• Sales improved markedly in the Automobile sector due to the continued commercial success of the Espace minivan.
  In 1998, this vehicle resumed its position as Europe’s leading up-market minivan.
• In the Communication-Media sector, each division contributed to the strong improvement in sales.
  Excluding changes in group structure and exchange rates, the “Book Publishing”, “Multimedia and Grolier” and “Distribution Services” divisions had above-average sales growth. Sales from the “Distribution Services” and “Print Media” divisions increased significantly, mainly as a result of strategic acquisitions.