Bolloré (BOL) Q3 2024 TU earnings summary

Executive summary

• Q3 2024 revenue at constant scope and exchange rates rose 2% to €5,559M; nine-month revenue up 4% to €16,151M year-over-year.

• Reported revenue growth was 74% in Q3 and 71% for nine months, mainly due to full consolidation of Lagardère by Vivendi.

Financial highlights

• Oil logistics Q3 revenue: €688M, up 2% on higher volumes, partly offset by lower petroleum prices.

• Communications Q3 revenue: €4,749M, up 2% organically, driven by Lagardère's strong performance.

• Industry Q3 revenue: €92M, up 7% due to resumed bus deliveries to RATP.

• Nine-month communications revenue: €13,801M, up 5% organically, with Lagardère up 9% and Canal+ up 2%.

• Industry nine-month revenue: €270M, up 16% organically, led by Bluebus and Systems growth.

Segment performance

• Oil logistics nine-month revenue: €2,004M, down 3% organically due to lower prices despite higher volumes.

• Communications nine-month revenue: €13,801M, up 5% organically, with Lagardère Travel Retail and Publishing as key drivers.

• Industry nine-month revenue: €270M, up 16% organically, offset slightly by a decline in Films.