lagardere s.c.a. (MMB) Snapshot

The Lagardère group announced that it has proceeded with the partial repurchase of the bond maturing in October 2014. A total of EUR 215 million was tendered in the offer made to bond holders, reducing the amount maturing in 2014 accordingly. This now amounts to EUR 660 million. As announced, the Group has used part of the proceeds from the disposal of its stake in EADS to reduce its debt. This partial repurchase operation also enables the Group to improve its liquidity profile.

Lagardère SCA reported consolidated sales results for the first quarter of 2013. For the quarter, the company reported net sales came in at EUR 1,627 million, compared to EUR 1,579 million in the first quarter of 2012 that is up 3% on a reported basis and up 2.3% on a like-for-like basis. The differential between reported and like-for-like performance is attributable to a negative foreign exchange effect (of EUR 8.3 million), associated primarily with the decrease in the British pound and the Japanese yen, and to the favorable scope effect (of EUR 20.3 million) due essentially to acquisitions performed in 2012. The company provided group earnings guidance for the year 2013. The company reported profitability due to a good start to the year, the company maintains the target announced on 7 March: in 2013, recurring EBIT from Media activities is expected to grow between 0% and 5% compared to 2012 at constant exchange rates. This target is based on an expected decline in advertising sales of circa 5% to 7% at Lagardère Active. The group's financial position remains sound. A substantial improvement in gearing (net debt-to-equity) ratios and financial leverage (net debt-to-EBITDA) ratios is expected in 2013 due to lower indebtedness as a result of the disposal of EADS shares.

Lagardere SCA will be added to Euronext 100 Index.