Lagardere SA · EURONEXT:MMB
Lagardere SA — Shareholder Meeting (May 2016)
21 slides from Lagardere SA's shareholder meeting presentation, May 3, 2016
Slide 1: General Meeting 2016
2016 GENERAL MEETING Gérard Adsuar Deputy Chief Financial Officer 3 MAY 2016
Slide 2: Contents
Annual Ordinary and Extraordinary General Meeting of 3 May 2016 CONTENTS 1 Key figures for the Group 2 Performance by division 3 Group financial results 4 Financial position 5 Guidance 2
Slide 3: Key figures for the Group
KEY FIGURES FOR THE GROUP Annual Ordinary and Extraordinary General Meeting of 3 May 2016
Slide 4: Key figures for the Group
Annual Ordinary and Extraordinary General Meeting of 3 May 2016 KEY FIGURES FOR THE GROUP Reported Like-for-like 2014 2015 (€m) change change* Sales 7,170 7,193 +0.3% +3.0% Recurring EBIT of fully consolidated companies** 342 378 +10.5% / Group operating margin 4.8% 5.3% +0.5 pt / Profit – Group sha
Slide 5: 2015 recurring EBIT, slightly above the full-year guidance
Annual Ordinary and Extraordinary General Meeting of 3 May 2016 2015 RECURRING EBIT, SLIGHTLY ABOVE THE FULL-YEAR GUIDANCE +8.8% +€342m +€327m +€356m +€378m +€11m +€11m -€15m +€29m 2014 Reported LTR - 2014 Business 2015 Scope FX 2015 Reported EBIT Distribution Comparable Performance Comparable** adj
Slide 6: Performance by division
PERFORMANCE BY DIVISION Annual Ordinary and Extraordinary General Meeting of 3 May 2016
Slide 7: Lagardère Publishing
Annual Ordinary and Extraordinary General Meeting of 3 May 2016 LAGARDÈRE PUBLISHING 2015 sales by geographical area 2015 sales by activity Other Other Education 17% 16% 16% 18%* France 17%* 16%* 29% Spain 31%* Partworks 6% 11% Illustrated 6%* Books 12%* 17% 15%* USA & Canada UK & Australia General
Slide 8: Lagardère Publishing e-books
Annual Ordinary and Extraordinary General Meeting of 3 May 2016 LAGARDÈRE PUBLISHING As expected, the weight of e-books has decreased: e-books accounted for 9% of total sales of the division in 2015 vs. 10.3% in 2014. Digital for the time being remains essentially limited to the traditional fict
Slide 9: Lagardère Travel Retail
Annual Ordinary and Extraordinary General Meeting of 3 May 2016 LAGARDÈRE TRAVEL RETAIL 2015 sales by geographical area 2015 sales by activity USA & Canada 9% Eastern Europe 6%* Distribution 17% Asia-Pacific (Wholesale Distribution 17%* 10% & Integrated Retail) 8%* 27% Other Western 37%* Travel Reta
Slide 10: Lagardère Active
Annual Ordinary and Extraordinary General Meeting of 3 May 2016 LAGARDÈRE ACTIVE 2015 sales by geographical area 2015 sales by activity Other 13% Radio 14%* 21% Spain 22%* 6% 0%* Press France 41% 81% 45%* TV 86%* 32% 26%* Pure Digital 6% 7%* Change Reported Like-for-like (€m) 2014 2015 basis basis S
Slide 11: Lagardère Sports and Entertainment
Annual Ordinary and Extraordinary General Meeting of 3 May 2016 LAGARDÈRE SPORTS AND ENTERTAINMENT 2015 sales by geographical area 2015 sales by activity USA & Latin America France 9% 13% 14%* Media 14%* rights Other Africa & 32% 26% Middle East 33%* 19%* 16% Germany 9%* 22% 27%* Asia & Australia Ma
Slide 12: Group financial results
GROUP FINANCIAL RESULTS Annual Ordinary and Extraordinary General Meeting of 3 May 2016
Slide 13: Consolidated income statement
Annual Ordinary and Extraordinary General Meeting of 3 May 2016 CONSOLIDATED INCOME STATEMENT (€m) Assemblée Générale 2014 2015 du 3 mai 2016 Sales 7,170 7,193 Recurring EBIT of fully consolidated companies* 342 378 Income from equity-accounted companies** 9 11 Non-recurring/non-operating items (142
Slide 14: Adjusted profit – Group share
Annual Ordinary and Extraordinary General Meeting of 3 May 2016 ADJUSTED PROFIT – GROUP SHARE (€m) 2014 2015 Profit – Group share 41 74 Restructuring costs* +53 +56 Gains (losses) on disposals* +5 -24 Fair value adjustment resulting from changes in control* -25 - Impairment losses on goodwill, tangi
Slide 15: Consolidated statement of cash flows
Annual Ordinary and Extraordinary General Meeting of 3 May 2016 CONSOLIDATED STATEMENT OF CASH FLOWS (€m) 2014 2015 Cash flow from operations before interest, taxes 403 447 Changes in working capital (49) 180 Cash flow from operations 354 627 Interest paid & received, income taxes paid (144) (103) C
Slide 16: Consolidated balance sheet
Annual Ordinary and Extraordinary General Meeting of 3 May 2016 CONSOLIDATED BALANCE SHEET (€m) 31 Dec. 2014 31 Dec. 2015 Non-current assets (excl. investments in associates and joint ventures) 3,948 4,672 Investments in associates and joint ventures 159 155 Current assets (other than short-term inv
Slide 17: Change in net debt in 2015
Annual Ordinary and Extraordinary General Meeting of 3 May 2016 CHANGE IN NET DEBT IN 2015 Assemblée Générale du 3 mai 2016 (€954m) +€274m -€627m -€186m -€58m (€1,551m) Net debt Free cash Acquisition / Dividends Foreign Net debt as of flow disposal of paid exchange, as of 31/12/2014 financial scope
Slide 18: Financial position
FINANCIAL POSITION Annual Ordinary and Extraordinary General Meeting of 3 May 2016
Slide 19: Sound financial position
Annual Ordinary and Extraordinary General Meeting of 3 May 2016 SOUND FINANCIAL POSITION Gross debt breakdown: 2015 well-balanced funding sources • Revolving Credit Facility refinanced in May 2015 for €1.25bn, 5 years + up to 2 years extension options. • Strong liquidity, with €1,884m covering up
Slide 20: Guidance
GUIDANCE Annual Ordinary and Extraordinary General Meeting of 3 May 2016
Slide 21: 2016 guidance
Annual Ordinary and Extraordinary General Meeting of 3 May 2016 GUIDANCE 2016 guidance • In 2016, the recurring EBIT of fully consolidated companies* is expected to grow slightly above 10% compared to 2015: - at constant exchange rates; - excluding any impact from any disposal of Distribution acti