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Lagardère Travel Retail posts single-digit revenue growth in Q1 as North Asia headwinds continue
Excluding the impact of North Asia, where a restructuring is taking place, Lagardère Travel Retail like-for-like revenue rose by +6% in the quarter.
FRANCE. Lagardère Travel Retail has reported Q1 revenue of €1,301 million, up by +4.7% on a reported basis and +3.9% like for like. The difference between reported and like-for-like revenue is attributable to a €10 million positive currency effect linked mainly to the appreciation of the US Dollar and the Polish Zloty.
The company said the growth figure came against the backdrop of a high comparison basis in Q1 2024 and despite the continued decline in the North Asian business.
Excluding the impact of North Asia, where a restructuring is taking place, like-for-like revenue rose by +6%.
In France, travel retail revenues rose by +6%, driven by the performance of the travel essentials and dining businesses, which benefited from the success of network updates and concession wins.
Revenue in the EMEA region (excluding France) rose by +8%, with solid growth in Italy, Poland and the Czech Republic, driven by growth in air traffic. The region was also lifted by concessions opened during 2024 in Romania, Spain and the UK. The African business climbed by +10%.
In the Americas, revenue advanced by +2%. In North America (+1%), business was driven by sales momentum in the essentials and dining segments, which offset weaker air traffic growth. South America posted revenue growth of +29% driven by the recovery of tourism in Peru and new points of sale in Chile.
The Asia Pacific region recorded a -20% fall in revenue, with the decline especially marked in North Asia (-23%).
With the publishing arm included, revenue for the Lagardère group hit €1,978 million for the first quarter, up +5.1% reported and +4.1% like-for-like.
Lagardère SA Chairman and Chief Executive Officer Arnaud Lagardère said: “In the first quarter of 2025, the Lagardère group posted sustained revenue growth of more than +4% on a like-for-like basis, driven by all of its businesses.
“Lagardère Travel Retail recorded revenue growth in all regions, with the exception of North Asia, where our teams are carrying out major reorganisation work.” 
