Lagardère Sports and Entertainment: €496m in revenue in 2017 (-3.4% like-for-like basis)

Lagardère Sports & Entertainment, a subsidiary of the French Lagardère Group, posted revenue of €496m in 2017, down 3.9% on a consolidated basis, and down 3.4% on a like-for-like basis, the group announced on 08/02/2018. Lagardère Sports & Entertainment reported revenue of €517m in 2016, up 1.5% on a like-for-like basis with 2015.

"The reduction in revenue in 2017 reflects both the termination of the Friends Arena contract in Sweden, and an unfavourable calendar effect mainly linked to the 2016 AFF Suzuki Cup (ASEAN Federation) and AFC Olympic qualifiers (U-23) in Asia. This is partly offset by the successful rollout of the contract for the 2017 Total African Cup of Nations in Gabon (from 14/01 to 05/02/2017). However, football activities in Europe (particularly in Germany) as well as consulting activities turned in a good performance," stated Lagardère Group.

Lagardère Sports & Entertainment announced a turnover of €139m in the fourth quarter of 2017, down 18.4% on a consolidated basis, and down 17.6% on a like-for-like basis.

Lagardère Sports and Entertainment generated 7% of…