Louis Hachette Group (ALHG) H1 2025 earnings summary

Executive summary

• First-half 2025 revenue rose 3.6% year-over-year to €4,495 million, with record EBITA of €220 million, driven by strong performances across publishing, travel retail, and media activities.

• Net debt reduced by €483 million to €1,958 million, reflecting robust cash generation and recapitalisation efforts.

• Consolidated profit improved to €13 million from a €34 million loss in the prior year, with adjusted profit - Group share up to €52 million from €24 million.

• Strategic focus on deleveraging, regular dividends, and flexibility for growth opportunities.

Financial highlights

• Revenue reached €4,495 million, up 4% reported and 3% like-for-like year-over-year.

• EBITA increased by 5% to €220 million; Publishing contributed €103 million, Travel Retail €117 million.

• Net profit improved by €47 million to €13 million.

• Free cash flow before working capital changes rose 8% to €161 million, but total free cash flow declined to €23 million.

• Net debt reduced by 20% to €1,958 million at period end.

Outlook and guidance

• Management expects continued strong performance, gradual deleveraging, regular dividends, and investment in strategic growth opportunities.

• Group targets a leverage ratio of around 2x by year-end 2025.