Lagardére Announces 2013 First-Half Results
Lagardère released its 2013 first-half results today. Highlights of the company's performance are as follows:
At Lagardère: The company reported net sales of €3.406 billion, up 0.5% over the same period in 2012. Recurring EBIT, or earnings, rose €26 million to €138 million, an increase of 23% over 2012.
At Hachette Livre: Hachette Livre (Lagardère Publishing) delivered net sales of €917 million through June, a 3.1% increase over the same period in 2012, and a €14 million increase in recurring EBIT. Activity in the first half of 2013 was "mainly driven by the very strong performance in General Literature in France, the UK, and the US, and in Partworks," according to Lagardère's press release. In France, sales were up 5.5% in a weak market, thanks in part to excellent sales for Volumes 2 and 3 in the Fifty Shades of Grey series and for Dan Brown's Inferno. In the U.K., the Adult Trade segment was up 1% despite continued industry challenges in New Zealand and Australia. Sales in Spain and Latin America declined 7.7%, where economic troubles in Spain were not offset by growth in Latin America.
Digital continues to grow within the publishing division, representing 11.3% of total net sales for Hachette Livre, up from 8.4% for the same period in 2012. In the U.K, digital represented 31% of adult trade sales, up from 22% in the first half of last year. In France, digital has grown from 1% to 3.2% of adult trade sales.
At Hachette Book Group: U.S. sales were up 7%, due to a strong list "that was underpinned by the cinema release of films based on Nicholas Sparks' books." Digital accounted for 34% of HBG's adult trade sales in the first half, up from 27% at the end of June 2012.
HBG had 109 print and 35 ebook titles on the New York Times bestseller list in the first half of the year. We had 29 #1 titles, a 70% increase over the same period last year. The major releases driving HBG sales for the first six months of 2013 include ALEX CROSS, RUN by James Patterson, THE HIT by David Baldacci, SAFE HAVEN by Nicholas Sparks, LET'S EXPLORE DIABETES WITH OWLS by David Sedaris, and BEAUTIFUL CREATURES by Kami Garcia and Margaret Stohl.