PARIS — France’s Lagardère SCA said its division encompassing magazines, radio and television channels, known as Lagardère Active, saw fourth-quarter revenues fall 2.4 percent on a like-for-like basis to 284 million euros, or $306.4 million.
Falling circulation and advertising spend translated to a 7.6 percent drop in revenues for the magazine sector, whose flagship titles are the French edition of Elle and Paris Match. The group’s television and radio divisions were also in retreat, with earnings down 2.9 percent and 6.4 percent, respectively. Digital and business services, including the ticketing agency BilletReduc, were up 12.2 percent.
For 2016 overall, Lagardère Active posted revenues of 915 million euros, or $1.01 billion — a 5.4 percent decline on a like-for-like basis. The company reported a somewhat smaller decline of 4.9 percent in consolidated figures, with the difference partially owed to the cash-positive effect of the group’s acquisition of the Grupo Boomerang TV network in May.
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Lagardère SCA reported annual revenues of 7.39 billion euros, or $8.18 billion, an increase of 2.5 percent on a like-for-like basis, as losses at Lagardère Active were offset by growth in other divisions. The group’s Travel Retail, Publishing and Sports and Entertainment activities all grew on a like-for-like basis — up 5.0 percent, 2.5 percent and 1.5 percent, respectively.
Lagardère SCA revised its guidance for 2016 upward, estimating earnings before interest and taxes growth of 13 percent versus a previous target of 10 percent (at constant exchange and excluding the impact of a recent sell-off in the group’s distribution activities).
The company is slated to publish full results for 2016 on March 8.