2020 Key Figures
2020 was marked by the unprecedented crisis triggered by the Covid-19 pandemic, which gradually impacted all the Group’s businesses as it spread worldwide and government restrictions were enforced in response.
Lagardère Travel Retail was particularly hard hit by the slump in global air traffic as a result of border closures, travel restrictions and lockdowns.
Despite closures of brick-and-mortar points of sale in Europe and North America for part of the year, Lagardère Publishing benefited from the increased appeal of reading among consumers amid a dearth of other cultural activities, and from strong growth in digital formats and board games.
Other Activities, Lagardère News and Lagardère Live Entertainment, were hit by the impacts of the health crisis on the advertising market, and by the closure of live entertainment venues.
The Group swiftly put in place major corrective measures to mitigate the impacts of the crisis at the division and corporate levels.
The Group restored profitability and cash generation in the second half of 2020, despite the health crisis, thanks to its strategic model focused on two core activities: the power engine, Lagardère Publishing, and the growth engine, Lagardère Travel Retail.
Condensed consolidated income statement
| (in millions of euros) | 2020 | 2019 |
| Revenue | 4,439 | 7,211 |
| Group recurring operating profit (loss) of fully consolidated companies | (155) | 378 |
| Income (loss) from equity-accounted companies* | (58) | 6 |
| Non-recurring/non-operating items | (336) | 27 |
| Finance costs, net | (76) | (53) |
| Income tax benefit (expense) | 31 | (55) |
| Profit (loss) for the year | (688) | 11 |
| Profit (loss) attributable to owners of the Parent | (660) | (15) |
| Adjusted profit (loss) attributable to owners of the Parent** | (330) | 200 |
(*) Before impairment losses.
(**) Excluding non-recurring/non-operational items.
Key figures by division
| (in millions of euros) | Lagardère Publishing |
Lagardère Travel Retail |
Other Activities(*) |
Non-retained scope(**) |
|||||
| Revenue | 2,375 | 1,720 | 229 | 115 | |||||
| Recurring operating profit of fully consolidated companies |
246 | (353) | (47) | (1) | |||||
| Free cash flow | 223 | (452) | (44) | 17 | |||||
(*) Lagardère News, Lagardère Live Entertainment, Lagardère Paris Racing and the Group Corporate function.
(**) Lagardère Sports and Lagardère Studios.
Breakdown of 2020 revenue by geographic area
- 3 % - Latin America, Middle East and Africa
- 9 % - Asia-Pacific
- 25 % - United States and Canada
- 10 % - Eastern Europe
- 25 % - Western Europe
- 28 % - France
Breakdown of workforce at 31 December 2020
| Executives | Managers | Other employees | Total | ||||||
| Women | Men | Women | Men | Women | Men | Women | Men | Women Men |
|
| Lagardère Publishing |
213 | 152 | 1,851 | 1,075 | 2,201 | 1,462 | 4,265 | 2,689 | 6,954 |
| Lagardère Travel Retail |
73 | 118 | 1,310 | 1,208 | 11,557 | 5,089 | 12,940 | 6,415 | 19,355 |
| Other Activities | 11 | 21 | 421 | 422 | 143 | 208 | 575 | 651 | 1,226 |
| Group | 297 | 291 | 3,582 | 2,705 | 13,901 | 6,759 | 17,780 | 9,755 | 27,535 |