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2010 First-Half Results August 26, 2010 Disclaimer 2010 First-Half Results

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2010 First-Half Results August 26, 2010 Disclaimer 2010 First-Half Results 2010 First-Half Results August 26, 2010 Disclaimer 2010 First-Half Results Certain of the statements contained in this document are not historical facts but rather are statements of future expectations and other forward-looking statements that are based on management’s beliefs. These statements reflect such views and assumptions as of the date of the statements and involve known and unknown risks and uncertainties that could cause future results, performance or future events to differ materially from those expressed or implied in such statements. • When used in this document, words such as “anticipate”, “believe”, “estimate”, “expect”, “may”, “intend” and “plan” are intended to identify forward-looking statements which address our vision of expected future business and financial performance. Such forward-looking statements include, without limitation, projections for improvements in process and operations, revenues and operating margin growth, cash flow, performance, new products and services, current and future markets for products and services and other trend projections as well as new business opportunities. • These forward-looking statements are based upon a number of assumptions which are subject to uncertainty and trends that may differ materially from future results, depending on a variety of factors including without limitation: • General economic and labor conditions, including in particular economic conditions in Europe and North America • Legal, financial and governmental risks (including, without limitation, certain market risks) related to the businesses • Certain risks related to the media industry (including, without limitation, technological risks) • The cyclical nature of some of the businesses. • Please refer to the most recent Reference Document (Document de référence) filed by Lagardère SCA with the French Autorité des marchés financiers for additional information in relation to such factors, risks and uncertainties. • Lagardère SCA disclaims any intention or obligation to update or review the forward-looking statements referred to above. Consequently Lagardère SCA is not responsible for any consequences that could result from the use of any of the above statements. August 26, 2010 2 2010 First-Half Results Contents Key Figures ………………………….…. pages 4 to 5 Financial Indicators by Division ………. pages 6 to 22 Summary Financial Information ….…... pages 23 to 31 Appendices ………..………………........pages 32 to 42 Significant Events………………………. pages 43 to 76 August 26, 2010 3 Key Figures 4 Key Figures 2010 First-Half Results Net sales virtually unchanged at €3,716m (vs. €3,720m for H1 2009) • Down 2.7% on a like-for-like basis Lagardère Media recurring EBIT before associates: €183m (vs. €181m for H1 2009) - up 0.6% on a reported basis - down 1.8% at constant exchange rates • Consolidated recurring EBIT before associates (incl. non-media): €179m (H1 2009: €186m) Net income: • €80m (vs. €318m for H1 2009) • Basic earnings per share: €0.63 (vs. €2.51 for H1 2009) • Diluted earnings per share: €0.63 (vs. €2.51 for H1 2009) Adjusted net income excluding EADS: €97m (H1 2009: €81m), up 20% Free Cash Flow* stable at - €47m (vs. - €51m for H1 2009) * Net cash used in operating and investing activities, excluding financial assets and short-term investments August 26, 2010 5 Financial Indicators by Division 6 Lagardère Publishing 7 Changes in scope 2010 First-Half Results of consolidation Deconsolidation of Brazilian educational publisher Escala Educacional from April 30, 2010, following signature of an agreement to sell the business. August 26, 2010 8 Net sales 2010 First-Half Results H1 2010 net sales: €975m (vs. €1,009m in H1 2009), down 3.4% on a reported basis and down 4.5% on a like-for-like basis (exchange rate effects). Key operating trends: • Decline in sales of Stephenie Meyer books • Education sales hit by very tough spending cuts in Spain and the UK • Good performance from Literature, Teen novels and Art books in France Net sales by geographical area H1 2010 31% 19% 25% 7% 18% H1 2009 31% 19% 27% 7% 16% France UK/Australia USA/Canada Spain Other August 26, 2010 9 Income statement data 2010 First-Half Results (€m) H1 2009 H1 2010 Change Net sales (a) 1,009 975 -3.4% Recurring EBIT before associates (b) 112 101 -10.2% Income from associates 1 1 Non-recurring/non-operating items (1) (13) EBIT 112 89 -20.4% Operating margin (b) / (a) 11.1% 10.3% August 26, 2010 10 Lagardère Active 11 Changes in scope 2010 First-Half Results of consolidation Deconsolidation of the Virgin 17 TV channel from May 31, 2010, following signature of an agreement to sell the business. Interest in Canal+ France reclassified to “Held-for-sale assets” in the balance sheet as of June 30, 2010, at the carrying amount of the interest as of December 31, 2009. Consequently, no profit or loss was recognized in the H1 2010 accounts. August 26, 2010 12 Net sales 2010 First-Half Results H1 2010 net sales: €855m (vs. €831m in H1 2009), up 2.9% on a reported basis and up 0.6% on a like-for-like basis: • Magazines: €641m, up 1.1% (down 0.2% on a like-for-like basis) • Radio: €130m, up 7.5% (up 1.4% on a like-for-like basis) • TV: €84m, up 9.7% (up 6.1% on a like-for-like basis) Key operating trends in Magazines, Radio and TV: • Magazines: net sales flat in France. Internationally, strong growth in China and Russia offset by a fall in the USA (largely due to discontinuation and divestment of titles) • Radio: in France, very strong growth for Europe 1 but a dip in revenue for music stations, despite a better Q2. Internationally, recovery in Poland but further decline in Russia • TV: growth at Lagardère Entertainment generated by production of program inventories and reflecting timing differences in program delivery; slight growth for theme channels Net sales by geographical area H1 2010 53% 18% 12% 7% 10% H1 2009 52% 19% 14% 6% 9% France Rest of Europe USA/Canada Asia/Australia Other (including Russia) August 26, 2010 13 Income statement data 2010 First-Half Results (€m) H1 2009 H1 2010 Change Net sales (a) 831 855 +2.9% Recurring EBIT before associates (b) 9 36 +287.6% Magazines 1 28 Radio 4 11 TV 4 (3) Income from associates before amortization of acquisition-related intangible assets and 47 1 impairment losses Magazines 2 6 Radio & TV 45 (5) Non-recurring/non-operating items (308) 32 EBIT (252) 69 Operating margin (b) / (a) 1.1% 4.2% Magazines 0.2% 4.4% Radio 3.1% 8.6% TV 5.5% -3.9% August 26, 2010 14 Lagardère Services 15 Changes in scope 2010 First-Half Results of consolidation Consolidation from February 1, 2010 of Aelia CZ, which operates airport retail outlets in the Czech Republic. August 26, 2010 16 Net sales 2010 First-Half Results H1 2010 net sales: €1,712m (vs. €1,619m for H1 2009), up 5.7% on a reported basis and up 1.6% on a like-for-like basis: • Impact of exchange rates: +3.6% • Impact of changes in scope of consolidation: +0.5% Key operating trends: • Very strong trading in France, at Relay and Aelia • For Lagardère Services as a whole, the decline in distribution revenues (linked to the contraction in press distribution) was more than offset by growth in retail, driven by recovery in air traffic despite the effect of the volcanic ash cloud in April Net sales by geographical area H1 2010 29% 15% 18% 12% 11% 7% 5% 3% H1 2009 29% 16% 17% 13% 11% 7% 3% 4% France Belgium Eastern Europe Spain Switzerland USA/Canada Asia/Australia Other August 26, 2010 17 Income statement data 2010 First-Half Results (€m) H1 2009 H1 2010 Change Net sales (a) 1,619 1,712 +5.7% Recurring EBIT before associates (b) 27 37 +36.1% Income from associates 3 4 Non-recurring/non-operating items (12) (7) EBIT 18 34 Operating margin (b) / (a) 1.7% 2.2% August 26, 2010 18 Lagardère Unlimited 19 Changes in scope 2010 First-Half Results of consolidation Acquisition of Best, a U.S. company specializing in athlete and celebrity representation, to be consolidated from H2 2010. August 26, 2010 20 Net sales 2010 First-Half Results H1 2010 net sales: €174m (vs. €261m in H1 2009), down 33.1% on a reported basis and down 33.8% on a like-for-like basis (exchange rate effects). Key operating trends: • Absence of football World Cup qualification matches had a very big impact on Sportfive and WSG • Non-recurrence of the World Handball Championship • Very good results from the African Cup of Nations and from hospitality at the football World Cup Net sales by geographical area H1 2010 15% 5% 9% 29% 18% 24% H1 2009 15% 4% 9% 24% 31% 17% Germany UK France Rest of Europe Asia Other August 26, 2010 21 Income statement data 2010 First-Half Results (€m) H1 2009 H1 2010 Change Net sales (a) 261 174 -33.1% Recurring EBIT before associates* (b) 33 9 -72.7% Income from associates - - Amortization of acquisition-related intangible assets and other acquisition-related expenses (13) (8) Non-recurring/non-operating items - (3) EBIT 20 (2) NS Operating margin (b) / (a) 12.6% 5.1% * Before amortization of acquisition-related intangible assets and other acquisition-related expenses August 26, 2010 22 Summary Financial Information 23 Lagardère Media income 2010 First-Half Results statement data (€m) H1 2009 H1 2010 Recurring EBIT before associates 181 183 Contribution from associates before amortization of acquisition-related 51 6 intangible assets and impairment losses Recurring EBIT 232 189 Restructuring costs (32) (14) Net gains/(losses) on disposals and associated risks (3) 28 Impairment losses on goodwill and intangible assets - consolidated companies (270) (1) - associates (4) - Amortization of acquisition-related
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