Arnaud Lagardère. Photo Gilles Bassignac.

Revenue for Lagardère Travel Retail totalled €4.3bn for the first nine months of 2024, up 16.8% on a reported basis and up 12.8% like for like, while the wider business saw revenue rise by 7.4% in the reporting period.

Revenue for the Lagardère group totaled €6.6bn for the first nine months of 2024, up 11.8% as reported and up 9.1% like for like, while for Lagardère Travel Retail, Q324 revenue came to €1.59bn, up 14.8% as reported and up 11.7% like for like.

The difference between reported and like-for-like revenue was attributable to a €39 million positive scope effect linked mainly to the acquisition of Tastes on the Fly.

Growth by region

In France, revenue growth was driven by concept upgrades and the beneficial impact of the Olympic Games, while in the EMEA region (excluding France), growth was propelled by increased air traffic, network expansion – particularly in Romania – and strong performances in Italy, Spain, and the United Kingdom.

In the Americas, Lagardère Travel Retail maintained its growth trajectory, supported by the return to normal air traffic levels in the United States 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.

Arnaud Lagardère, Chairman and Chief Executive Officer of Lagardère SA, 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. Lagardère Publishing maintained a high level of revenue, lifted especially by a standout performance in the United States.

An overview of the nine-month and Q3 revenue for the Group shows solid performance in most regions other than LATAM and APAC.

“The Group’s Other Activities were driven by good momentum in the News segment. Over the first nine months of 2024, the Group posted eye-catching year-on-year growth of €696m. This upward growth trajectory speaks to Lagardère’s strength and ambition in pursuing its development,” continued Lagardère.

Revenue growth was driven by the dining segment with an expansion in the EMEA region and the Tastes on the Fly acquisition in North America, while activities in France also benefitted from the favourable impact of the Olympic Games.

The duty free & fashion segment was boosted by good performance in the EMEA region from its existing network and new developments in Romania and Spain.

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