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
amount.
- 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).
| (m€) |
Lagardère Non-Media Total in
Media and EADS 1st half 2010 |
Lagardère Non-Media Total In Media and EADS 1st Half 201 |
|
Net sales Recurring EBIT of consolidated companies Contribution from associates Excluding EADS EADS Non-recurring/non-operating items 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 |
- People:
- Stephenie Meyer
