But today is not the case he simply said

With 15 of its turnover in advertising, Lagardère may not preserve its results in 2009. "After eleven years of growth, our operating income will not increase this year", stated yesterday its shareholders gathered in the General Assembly Arnaud Lagardère, the managing general partner of the group. At the end of four months of activity, the Group remains unable to predict what will be the magnitude of the decline in the media.

Not believing in a rapid economic recovery, Arnaud Lagardère provides that "the end of the year is not necessarily good" and table on recovery "current 2010, or even end of 2010".

"Very bad environment."

The greater uncertainty is related to the evolution of Lagardère Active, the entity which oversees the press and audiovisual, namely activities funded at least in part by the advertisers. "The environment is very, very bad at the moment", said Arnaud Lagardère.

The world's leading news magazine with "It", "Paris Match", "First" or "Psychologies" evokes falls in turnover of 30 and in the United States and Spain more.

The rise in the price of paper from 9 in Europe and the decline broadcasts "ranging from 5 to 20 " depending on the country managed nothing. For the pattern of the Lagardère Group, it is of "structural" developments related to a transformation of the media consumption to the benefit of the Internet and to the paper. In this dark context, only notes of optimism are the good points awarded to the relief of Europe 1 hearing since the arrival to the head of the station to Alexandre Bompard and television digital terrestrial free Gulli and Virgin 17.

On its three other major activities book, distribution, and sport , Lagardère Media has better visibility and anticipating, at best, a stability of the operating result, at worst, a decrease of 10.

The Edition is resistant

Publishing plays the role of damper of the crisis. "In 2008, Lagardère has remained resilient through Lagardère Publishing", said Raymond Lévy, the Chairman of the Supervisory Board.

In the beginning of the year, Hachette Livre, world leader in France, is rather ahead of its budget and "the situation is not so good as this." In turn, affected by the decline in passenger traffic estimated in the order of 10, Lagardère Services, specializing in the distribution of the press, is on the other hand "in short" of its forecasts.

Finally, in the first months of 2009, the Lagardère sports branch has achieved its objectives. This activity represents 11 of operating income is expected to become an engine of growth that will contribute 20 to the results within four to five years.

Capitalize on the digital

To bounce, Arnaud Lagardère builds on digital. "Internet is better than other media", notes Didier Quillot, Lagardère Active pattern.

For its part, Hachette Book place his pawns to be ready the day where the dematerialized Edition will develop. That it is in the press or the book, the Group also focuses on China and the India to fuel its future growth.

In the meantime, Lagardère does no significant acquisition in the coming months. Concerning the assignment of the 7.5 it still holds in the Aeronautics and defence EADS Group, Arnaud Lagardère acknowledged handle "the language of wood": "the day where I apercevrai me that EADS brings nothing to the group, I am désengagerai." "But today is not the case", he simply said.