FRANCE/INTERNATIONAL. Lagardère Travel Retail today reported a +3.3% year-on-year rise in revenue in the first nine months of 2026, with the figure reaching €4,734 million.
Revenue grew by +5.1% excluding the North Asia region, which was affected by a continuing streamlining of the network in China.
A €56 million net negative currency effect was mainly attributable to the depreciation of the US Dollar, Romanian Leu and UAE Dirham against the Euro, and was offset by a positive scope effect linked to the launch of duty-free operations at Amsterdam Airport Schiphol in May 2025.
In Q3, Lagardère Travel Retail revenue amounted to €1,756 million, up 3.6% on a reported basis and up 3.3% like for like. Revenue grew by +4.6% excluding North Asia.
In France, Q3 revenue was up by +1%, with the duty free business benefiting from store upgrades at Nice-Côte d’Azur airport.
The EMEA region (excluding France) saw revenue climb by +6%, supported by Albania, Romania, the UK, Italy and Spain against the backdrop of an increase in passenger traffic, sales initiatives and network expansion. The region also benefited from store openings in Germany (Düsseldorf Airport and Frankfurt Airport Terminal 3). Africa posted continued growth, driven by store openings in Cameroon and Rwanda.
Business in the Middle East fell by -15% year-on-year and accounted for 2% of Lagardère Travel Retail’s revenue in Q3.
In the Americas, revenue rose by +4%, thanks to a strong performance in North America (up +4%). The region benefited from network expansion and sales momentum in the travel essentials and dining segments, despite the continued slowdown in air traffic.
In South America, business was driven notably by the ramp-up of operations at Lima Airport.
The Asia Pacific region posted a sharp decline of -22%, with the decrease particularly pronounced in North Asia (down -59%) due to streamlining of the business and store closures in Mainland China, a process slated for completion at the end of 2026. Business in this region was driven by duty-free operations at Auckland and Singapore.
Commenting on the Middle East crisis, a group statement said, “Direct financial exposure to this region is limited, with revenue generated in the Middle East accounting for 2% of consolidated revenue in 2025. The nine months to 30 September 2026 were primarily affected indirectly, through the impact of the conflict on global consumer demand.
“The Group remains vigilant as to the direct and indirect effects (especially as regards the impact on air passenger traffic, the risks of inflation, including energy costs, and supply shortages) that this situation could have on its activities throughout 2026.”
Lagardère SA Chairman and Chief Executive Officer Arnaud Lagardère commented: “In the third quarter of 2026, amid a challenging geopolitical and macroeconomic environment, the Lagardère group once again demonstrated great solidity, with growth accelerating to +2.4% from +1.8% in the previous quarter.
“Lagardère Travel Retail posted record revenue during the summer season, and continued to deliver sustained growth, led by Europe and the Americas, despite the backdrop of slowing growth in air traffic.” ✈
