Lagarder group reported that the sharp 34.1% growth in revenue during the first nine months of 2022, confirmed by a 27.7% increase in the third quarter of 2022, was due to very strong momentum Lagardère Travel Retail.
The group’s revenues totaled 5.01 billion euros in the first nine months, an increase of 41.5% as reported and an increase of 34.1% like-for-like.
The revenue of Lagardère Travel Retail For the nine months ended September 30, 2022 totaled 2.83 billion eurosGrowing 83.9% As reported and at 77.2% like for like compared to the corresponding period last year. The difference between reported revenues and like-for-like is attributed to a positive effect of 118 million euros related to movements in U.S. Dollar and Chinese Yuanand a negative impact in the amount of 3 million euros.
Travel retail revenue in the third quarter 2022 amounted to 1.15 billion euros, an increase of 53.8% compared to the same period last year. The quarter’s performance confirms the recovery trend observed since the beginning of 2022, when business almost returned to the levels of the third quarter of 2019 (down 0.5% compared to the third quarter of 2019 as reported).
B FranceThe division’s revenues grew by 63% with the recovery of air and rail traffic, by the increase in intra-European travel.
Income b EMEA The region (excluding France) was up 73.8%, with regional and transatlantic travel rising on the back of a strong summer tourism season, particularly in Italy, Belgium And the United Kingdom.
God America Recorded “bullish” growth, with revenues climbing 33.0% on the back of very vigorous momentum United States and recovery in Canada.
Increase in income b Asia Pacific The region (up 6.1% over the period) remains more moderate, with a zero-covid policy porcelain Preventing domestic air traffic and preventing Chinese passengers from international travel.
The group stated that due to the diversity of its footprint and activity sectors, the travel retail division is in a good position to benefit from the resumption of flights as and when public health restrictions are lifted.
In this uncertain environment, Lagardère Travel Retail will continue to closely monitor developments in air traffic in 2022 and is confident in its ability to adapt. The division is successfully advancing its operational excellence campaign launched during the crisis, allowing it to increase its flow target for 2022 to a range of 5% to 10%8, assuming higher business levels than in 2021.