Lagardere Groupe

Lagardere Groupe is a holding company. Through its subsidiaries, Co. is engaged in the media industry (news, education, culture and entertainment businesses). Co.'s main activities in the media industry can be divided into four separate divisions. Lagardere Publishing includes Co.'s Book Publishing and e-Publishing businesses. Lagardere Active encompasses Co.'s Magazine Publishing, Audiovisual (Radio, Television, Audiovisual Production), Digital and Advertising Sales Brokerage businesses. Lagardere Services encompasses the Travel Retail and Distribution businesses. Lagardere Unlimited specializes in sports and entertainment.
  • TickerMMB
  • ISINFR0000130213
  • ExchangeEuronext Paris
  • SectorMedia
  • CountryFrance

Analysts

Increased risk weighs on LAGARDERE GROUPE, penalising its rating down to Neutral

The independent financial analyst theScreener just lowered the general evaluation of LAGARDERE GROUPE (FR), active in the Publishing industry. As regards its fundamental valuation, the title still shows 1 out of 4 possible stars. Its market behaviour, however, has slightly deteriorated and will be qualified as moderately risky moving forward. theScreener considers that these new qualifications justify an overall rating downgrade to Neutral. As of the analysis date December 25, 2018, the closing price was EUR 21.50 and its target price was estimated at EUR 20.43.

Carole Braudeau

Lagardere : At the onset of a new era

Lagardère profoundly revamped its business portfolio in recent years by focusing its development on travel retail and completing its exit from the distribution activities in February. This reconfiguration was carried out without pressure on the company's financial structure. Credit metrics were maintained at satisfactory levels. We estimate Lagardère's rating at 'BBB-' with a stable outlook. - We recommend Buying Lagardère 2023 and 2024 bonds which offer an attractive yield in view of our 'BBB-' shadow rating. - - >Support factors - - Successful development in travel retail, set to post globa...

Carole Braudeau

Lagardère : A l’aube d’une ère nouvelle.

Lagardère a profondément remodelé son portefeuille d’activités au cours des dernières années, en ciblant son développement sur le Travel Retail et en achevant son désengagement des activités de distribution au mois de février. Cette reconfiguration a été réalisée sans pression sur la structure financière de la société et les ratios de crédit ont été maintenus à des niveaux satisfaisants. Nous estimons le rating de Lagardère à BBB- et lui attachons un outlook stable. - Nous conseillons d’acheter les obligations Lagardère 2023 et 2024 qui offrent un rendement intéressant compte tenu de notre rat...

Jerôme Bodin

Lagardere : Review of our expectations: slight downward adjustment to our 2018 and 2019 estimates for the publishing and travel retail activities

>Slight slowdown in Q4 - In this note, we review our estimates for Lagardère for 2018 and 2019, particularly in the context of the “yellow vests” social movement in France and its impact on Lagardère Publishing and Lagardère Travel Retail. This will likely be slightly negative and prompts us to lower our expectations slightly. For Lagardère Publishing, we are counting on a limited rebound in 2019 (organic growth of +1%) due to the impact of the laborious reform of the...

Jerôme Bodin

Lagardère : Point sur nos attentes : petit ajustement en baisse pour Publishing et TR en 2018 et 2019

>Petit ralentissement sur le T4 - Nous faisons un point sur nos estimations sur Lagardère pour 2018 et 2019, notamment dans le contexte du conflit social en France et de son impact sur Lagardère Publishing et Lagardère Travel Retail. Celui-ci devrait être légèrement négatif et nous conduit à abaisser un peu nos attentes. Pour Lagardère Publishing, nous tablons en 2019 sur un rebond limité (croissance organique +1%) sous l’effet d’une réforme des programmes du lycée po...

Aurelien Sivignon ...
  • Charles Lepetitpas
  • Christophe Chaput
  • Harold De Decker
  • Hela Zarrouk
  • Jean-François Granjon
  • Jerôme Bodin
  • Nicolas David

ODDO BHF Small & MIDCAP MORNING NEWS - 11/16/2018

Since the Berendsen deal, investors have doubted the group's capacity to pull off fresh M&A deals due to its relatively debt-saddled balance sheet (net debt/EBITDA at end-2018: 3.3x). That said, FCF is set to benefit from buoyant organic growth, synergies from recent acquisitions and a normalised capex budget from 2020. Cumulative FCF over 2019e-2020e is set to top € 500m, which should enable the group to seek further acquisitions in the medium term and improve its margins through syn...

Jerôme Bodin

Lagardere : Feedback from lunch with management of Lagardère Publishing

>The resilience of Lagardère Publishing - We organised an investor lunch in Paris with Arnaud Nourry (CEO of Lagardère Publishing), Ronald Blunden (head of communications), Fabrice Bakhouche (secretary general), Gérard Adsuar (CFO of Lagardère SCA) and Florence Lonis (head of IR). The event was an opportunity for the group to provide an update on the strategy for this division (~50% of Lagardere's EBITA) and its prospects in the short and long term. Management conveye...

Aurelien Sivignon ...
  • Charles Lepetitpas
  • Christophe Chaput
  • Harold De Decker
  • Hela Zarrouk
  • Jean-François Granjon
  • Jerôme Bodin
  • Nicolas David

ODDO BHF Small & MIDCAP MORNING NEWS - 16/11/2018

Depuis le rachat de Berendsen, les investisseurs doutent de la capacité du groupe à poursuivre les opérations de croissance externe en raison d’un bilan relativement endetté (DN/EBITDA fin 2018 : 3.3x). Pour autant, le FCF bénéficiera d’une croissance organique soutenue, des synergies issues des récentes acquisitions et d’une normalisation de l’enveloppe de Capex à partir de 2020. Le FCF cumulé 2019/20 dépassera les 500 M€ ce qui permettra de poursuivre les acquisitions à MT et ainsi ...

1 director sold

A director at Lagardere Group S.C.A. sold 15,000 shares at 23.110EUR and the significance rating of the trade was 61/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The ...

Antoine Boivin-Champeaux ...
  • Charles Lepetitpas
  • Jean-François Granjon
  • Jerôme Bodin
  • Nicolas David
  • Yan Derocles

ODDO BHF Small & MIDCAP MORNING NEWS - 12/18/2018

...

Antoine Boivin-Champeaux ...
  • Charles Lepetitpas
  • Jean-François Granjon
  • Jerôme Bodin
  • Nicolas David
  • Yan Derocles

ODDO BHF Small & MIDCAP MORNING NEWS - 18/12/2018

...

Antoine Boivin-Champeaux ...
  • Aurelien Sivignon
  • Baptiste Lebacq
  • Charles Lepetitpas
  • Christophe Chaput
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • Hana Maalej
  • Harold De Decker
  • Hela Zarrouk
  • Jean-François Granjon
  • Jeremy Garnier
  • Jerôme Bodin
  • Léopold Authié
  • Nicolas David
  • Yan Derocles

ODDO BHF Small & MIDCAP MORNING NEWS - 11/09/2018

...

Antoine Boivin-Champeaux ...
  • Aurelien Sivignon
  • Baptiste Lebacq
  • Charles Lepetitpas
  • Christophe Chaput
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • Hana Maalej
  • Harold De Decker
  • Hela Zarrouk
  • Jean-François Granjon
  • Jeremy Garnier
  • Jerôme Bodin
  • Léopold Authié
  • Nicolas David
  • Yan Derocles

ODDO BHF Small & MIDCAP MORNING NEWS - 09/11/2018

...

Anis Zgaya ...
  • Charles Lepetitpas
  • Christophe Chaput
  • Emmanuel Matot
  • Fehmi Ben Naamane
  • Hela Zarrouk
  • Jean-François Granjon
  • Jerôme Bodin
  • Khaled Ben Amor
  • Léopold Authié
  • Matthias Desmarais
  • Nicolas David
  • Rémi Adam
  • Salma Bouraoui

ODDO BHF Small & MIDCAP MORNING NEWS - 11/08/2018

...

Increased risk weighs on LAGARDERE GROUPE, penalising its rating down to Neutral

The independent financial analyst theScreener just lowered the general evaluation of LAGARDERE GROUPE (FR), active in the Publishing industry. As regards its fundamental valuation, the title still shows 1 out of 4 possible stars. Its market behaviour, however, has slightly deteriorated and will be qualified as moderately risky moving forward. theScreener considers that these new qualifications justify an overall rating downgrade to Neutral. As of the analysis date December 25, 2018, the closing price was EUR 21.50 and its target price was estimated at EUR 20.43.

Ng Adrian

Lagardère

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Ng Adrian

Lagardère

Ng Adrian

Lagardère

Ng Adrian

Lagardère

MarketLine Department

Lagardere SCA - Strategy, SWOT and Corporate Finance Report

Synopsis Lagardere SCA - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. Summary - Detailed information on Lagardere SCA required for business and competitor intelligence needs - A study of the major internal and external factors affecting Lagardere SCA in the form of a SWOT analysis - An in-depth view of the business model of Lagardere SCA including a breakdown and examination ...

Anaïs Dudout

Proxy Report - 03/05/2018

HIGHLIGHTSITEM A AND B Amber capital owns 3.9% of Lagardère’s share capital, and asked the company to add two items to the agenda concerning the election of two new Directors on the Supervisory Board: Helen Lee Bouygues and Arnaud Marion. Due to Marion’s past experiences and lack of conflicts of interest, we recommend approval of his election.  ITEM 4 The Company still does not recognize the entire remuneration granted to Arnaud Lagardère. He obtained €1 000 000 in the form of a profit margin on the regulated agreement (with Lagardère Capital & Management) and an additional €1,788,000 as statu...

Anaïs Dudout

Proxy Report - 03/05/2018

Lors de la présente assemblée générale, Amber Capital, qui possède 3,99% du capital de Lagardère, propose la nomination de deux membres au Conseil de Surveillance et a donc déposé deux résolutions externes. Cette année encore, la société ne propose pas de résolution d'approbation du rapport spécial sur les conventions réglementées qui comprennent toujours une convention importante avec Lagardère Capital Management. Contrairement à la recommandation 24,1,3 du code AFEP-MEDEF pour les sociétés en commandite par action, la rémunération d'Arnaud Lagardère est loin "des mêmes règles de rémunératio...

Expert Corporate Governance Service (ECGS)

Etude de l'AG du 04/05/2017

Item 1Lagardère still does not submit the Statutory Auditor’s Special Report on Regulated Agreements and Commitments with Related Parties for approval to the General Meeting. This report includes an agreement amounting to €26 M (€27.1 M in 2015) and could constitute a masked remuneration granted to Arnaud Lagardère for €700,000. In this way, Lagardère SCA has not respected Article L225-40 of the French Code of Commerce.Item 4The Company still does not recognize the entire remuneration granted to Arnaud Lagardère. He obtained €700,000 in the form of a profit margin on the regulated agreement (w...

Etude de l'AG du 04/05/2017

Cette année encore, la société ne soumet pas au vote le rapport spécial des commissaires aux comptes sur les conventions réglementées. Ceci est problématique, car l'une d'elle porte sur un montant de 26 M€ (27.1 M€ pour 2015) et pourrait constituer une rémunération masquée du Gérant à hauteur de 700 000 €. Ainsi Lagardère SCA ne respecte plus depuis six ans l'article 225-40 du Code du commerce, lequel prévoit explicitement que les actionnaires votent sur ce rapport : « Le président du conseil d'administration donne avis aux commissaires aux comptes de toutes les conventions autorisées et soume...

Jérôme VINERIER

Analyse court terme - LAGARDERE : La tendance est incertaine.

La tendance est incertaine. Les cours baissent, mais la tendance manque de puissance pour le moment. Le prochain support est à 24,20 €.

Jérôme VINERIER

Short term view - LAGARDERE : The trend is uncertain.

The trend is uncertain. Prices are falling, but the trend is lacking power for the time being. The next support is at €24.20.

Jérôme VINERIER

Short term view - LAGARDERE : The trend is uncertain.

The trend is uncertain. Prices are falling and they may accelerate to the downside. A new bearish trend is attempting to emerge.

Jérôme VINERIER

Analyse court terme - LAGARDERE : La tendance est incertaine.

La tendance est incertaine. Les cours baissent, et il y a une possibilité d'accélération baissière. Une nouvelle tendance baissière tente de démarrer.

Valérie GASTALDY

Medium term view - LAGARDERE : The trend is uncertain.

The trend is uncertain. Prices are falling and they may accelerate to the downside. A new bearish trend is attempting to emerge.

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