FRANCE. Lagardère Services, the leading French travel retail and press distribution group, has posted strong 2008 annual sales of €4.6 billion, up +3.4% on a like-for-like basis, and at constant exchange rates.
Recurring EBIT, at €126.6 million, was up +9% versus 2007 and net income reached €84 million. Lagardère Services’ net cash position increased by +8.8% to €222.6 million.
Lagardère Services’ retail activities, which account for 53.8% of the managed sales (versus 51.8% in 2007), showed a solid growth in 2008 (+6.4%). As we previously reported, revenues at travel retail subsidiary Aelia hit €608 million in the year, up +12% on a year earlier.
Lagardère Services revealed that its regional sales distribution was as follows: Asia Pacific 3.1%; North America 16.2%; Rest of Europe 54.6% (including Eastern Europe 15.2%); and France 26.2%.
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Lagardère Services’ sales by region 2008 |
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Lagardère Services’ key financial figures 2008 |
About Lagardère Services
Operating in 21 countries throughout Europe, North America and Asia Pacific, Lagardère Services is a world leader in travel retail and press distribution, as well as a high street retailer, and runs one of the largest international networks of news and convenience, duty free and speciality stores. Its brand names include Aelia, Relay, Virgin, Newslink in travel retail and Inmedio in high street and shopping malls.
By strongly diversifying its portfolio of activities and commercial concepts, either internally developed or as a franchisee, Lagardère Services pursues its commercial development in transport centres, in high street and in shopping malls. Lagardère Services operates 3,900 points of sale and employs 11,000 people in 21 countries. Visit www.lagardere-services.com
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