Lagardère Active financials hit by lack of Borgia

Borgia

The third quarter performance of Lagardère Active, the Lagardère Group’s TV and publishing arm, was hit by the impact in 2014 of the third series of Borgia, which impacted unfavourably on the unit’s year-on-year comparison.

Lagardère Active posted revenues of €206 million for the quarter, down 0.9% in gross terms and down 10.2% in comparable terms. Production was down 37.1% as a result of the lack of anything comparable to Borgia. Outside Lagardère Studios, which produces Borgia, the downward shift on a comparable basis was 5.2%.

The group’s TV channels business was stable, according to Lagardère. The strong performance of youth channel Gulli, up 19%, was not included in the year on year comparison because it was only consolidated in November 2014.