Lagardère SCA Announces 2011 First-Half Results
Recurring EBIT in non-Media activities came to -€8m, vs. -€4m as at 30 June 2010, due to Canal+ France
IPO planning costs.
- NON-RECURRING/NON-OPERATING ITEMS
—Non-recurring/non-operating items accounted for a net €27m charge, down by €16m from 30 June 2010. This mainly covers goodwill on acquisition of intangibles at Lagardère Unlimited, and restructuring costs.
- CONTRIBUTION OF ASSOCIATES
—The contribution of associates (excluding EADS) came to €13m (vs. €6m as at 30 June 2010), thanks
mainly to Lagardère Active with a better contribution from Gulli and Marie Claire, partly offset by a lower
contribution from EADS (€9m).
As in 2010, the share of earnings from Canal+ France is offset by the booking of an impairment in the same
- NET INCOME BEFORE FINANCE CHARGES AND INCOME TAX came to €155m, stable on the whole compared with the first-half of 2010.
- NET FINANCE CHARGES
—Net finance charges rose to €45m from €39m at 30 June 2010. The average cost of debt rose, due to the
new syndicated credit set up in January 2011 (maturing in 2016).
- INCOME TAX EXPENSE
—Income tax expense at end-June 2011 came to -€66m, an increase that was due mainly to the tax impact of the PMI disposal and the lack of positive non-recurring items booked in 2010.
- The MINORITY SHARE of net income was stable (€16m).
Lagardère Non-Media Total in
Media and EADS 1st half 2010
Lagardère Non-Media Total In
Media and EADS 1st Half 201
Recurring EBIT of consolidated companies
Contribution from associates
Net income before finance charges and income tax expense
Net finance costs
Net pre-tax income
income tax expense
Net consolidated income
ow Minority Interests
ow Group share
3,716 -- 3,716
183 (4) 179