Paris-July 26, 2021
Lagardère announced results for First Half 2021 revenues today. Highlights of the company’s financial performance are as follows:
At Hachette Book Group:
Hachette Book Group CEO Michael Pietsch said, “HBG’s revenues in the first half are ahead of last year, in part because the comparison includes Q2 2020, when many retailers were closed, and thanks to strong hardcover sales and good performance in the children’s and Christian categories. HBG’s third-party distribution business is also solidly ahead of 2020.
HBG had thirteen #1 bestsellers in the first half of the year, including James Patterson and President Bill Clinton’s The President’s Daughter, Clint Smith’s How the Word Is Passed, Elin Hilderbrand’s Golden Girl, Jason Reynolds and Ibram X. Kendi’s Stamped and Stamped (for Kids), David Baldacci’s A Gambling Man, Don Lemon’s This is the Fire, Vashti Harrison’s Little Leaders: Bold Women in Black History, and Meena Harris’s Ambitious Girl.
We have an especially robust Fall season ahead, with new books from David Baldacci, Sandra Brown, Chris Colfer, Michael Connelly, James S. A. Corey, Katie Couric, Sutton Foster, Jamie Foxx, Faith Jenkins, Joyce Meyer, Joel Osteen, James Patterson, Nicholas Sparks, Stevie Van Zandt, and many more.”
At Hachette Livre:
Hachette Livre delivered first half 2021 revenue of €1.13 billion. “After recording robust like-for-like growth of 13.9% in the first quarter of 2021, growth surged by 22.9% in the second quarter compared to the same prior-year period,” according to Lagardère’s press release .
The first-half 2021 figures below are presented on a like-for-like basis.
In France: Revenue for the division rose by 26.9% during the first six months of the year. The heightened appeal of reading for consumers during the pandemic benefited Illustrated Books (especially Lifestyle and children’s books) and General Literature. Distribution of third-party publishers also grew, buoyed in particular by graphic novels.
In the United Kingdom: The 17.3% increase in revenue was driven by front and backlist success in the Adult Trade segment, as well as children’s books.
In the United States: 14.8% revenue growth reflects a robust release schedule and good backlist momentum in children’s books.
In Spain/Latin America: Revenue contracted by 4.5% due to a fall in sales in Mexico, which was partly offset by good momentum in the Trade segment in Spain.
Partworks: Revenue from sales of Partworks jumped 19.1%, thanks to growth in backlist collections in France and Japan and a more robust release schedule in the first half of 2021.
Digital formats: Ebooks accounted for 8.2% of total Lagardère Publishing revenue, versus 10.6% in first-half 2020, while digital audio books represented 4.2% of revenue versus 5.3% in the first half of 2020.
Lagardère Publishing reported €110 million in recurring EBIT, up sharply by €83 million on first-half 2020 attributed to brisk business momentum, a still-high proportion of ecommerce sales and a favorable format mix.
Hachette Livre delivered revenue of €1.13 billion in the first half of 2021, up 16.4% as reported and up 18.7% like-for-like. The difference between reported and like-for-like data is due to an €8 million positive scope effect linked to the acquisitions of Le Livre Scolaire and Laurence King Publishing, and to a €30 million negative currency impact resulting mainly from the depreciation of the US dollar.
The Lagardère group reported revenue of €2.076 billion in the first half of 2021, up 5% on a like-for-like basis, and down 0.6% on a consolidated basis.
“Group recurring EBIT in the first half of the year totalled €3 million, up sharply by €221 million compared to a negative €218 million in first-half 2020. Lagardère Publishing recorded decade-high recurring EBIT of €110 million (€27 million in first-half 2020), with Lagardère Travel Retail reporting recurring EBIT of -€96 million, versus -€209 million in first-half 2020.”
Read Lagardère’s press release for further details.