FRANCE. Lagardère Travel Retail revenue reached €4,344 million for the first nine months of 2024, up +16.8% on a reported basis and +12.8% like for like. The difference between reported and like-for-like data is primarily attributable to a €134 million positive scope effect linked chiefly to the acquisition of food & beverage player Tastes on the Fly.
Q3 2024 revenue came to €1,596 million, up +14.8% as reported and +11.7% like for like.
In France, revenue growth was driven by store upgrades and the beneficial impact of the Olympic Games, said the company. In the EMEA region (excluding France), growth was propelled by increased air traffic, network expansion – particularly in Romania – and “exceptional performances” in Italy, Spain and the UK.
In the Americas, Lagardère Travel Retail maintained growth, supported by the return to normal air traffic levels in the US and strong momentum in Canada.
In the Asia Pacific region, revenue was down due to lacklustre activity in North Asia, which was held back by China’s economic slowdown.
Lagardère SA Chairman and Chief Executive Officer Arnaud Lagardère commented: “In the third quarter of 2024, the Lagardère group posted solid growth of +7.4%. Lagardère Travel Retail hit a new milestone with record quarterly revenue amid geopolitical tensions.”
Revenue for the Lagardère Group hit €6,610 million for the first nine months of 2024, up +11.8% as reported and +9.1% like for like. The company has not yet reported on profit for the period. ✈
