FRANCE. Lagardère Travel Retail posted a record high for quarterly revenues in the three months to 30 September, with the figure rising by +21.4% (+17.7% like for like) to €1,390 million. The performance was driven “by an exceptional summer in the US and Europe”, said the Lagardère Group division.
The company posted +31.2% (+26.5% like for like) sales growth in the first nine months to €3,719 million.
The difference between reported and like-for-like data is attributable to a €128 million positive scope effect and a €22 million negative currency effect (related to the US Dollar and Chinese Yuan).
In the nine months, Lagardère Travel Retail revenue grew +10.8% year-on-year in France, led by brisk trading at regional airports.
The EMEA region (excluding France) maintained strong momentum, with revenue jumping +19.3% thanks to regional European and international – notably US – traffic, with especially strong performances in Italy (up +30.6%) and Poland (up +18.4%).
The Americas reported another period of strong growth, with revenue up +13.6%, driven by business in the United States (up +11.6%) and a sharp surge in activity in Canada (up +27.5%) following the return of Asian travellers.
The Asia Pacific region saw a strong upturn in business, with revenue up +45.7% following the reopening of the borders in China and versus a low comparison basis in 2022.
In its investor update, the company highlighted strong duty free & F&B activity in EMEA, with healthy growth in F&B and travel essentials in the US, buoyed by increased leisure traffic. ✈
