DOWNWARD TREND: French media group Lagardère reported sales decreased 2.1 percent in fiscal 2013 to 7.21 billion euros, or $9.93 billion. Dollar figures are converted from euros at average exchange rates for the period.
Net sales at the firm’s multimedia division Lagardère Active were 996 million euros, or $1.37 billion, down 1.9 percent compared with fiscal 2012. France’s largest magazine publisher cited a decline in magazine circulation, down 5.4 percent.
In the fourth quarter, sales at Lagardère Active dropped 10 percent to 309 million euros, or $425.4 million. Magazine revenues in the quarter fell by 5.6 percent, due to a slump in advertising revenue, down 10.9 percent, while net sales from circulation was down 1 percent.
Last October, Lagardère Active said it would put 10 publications on the block, including its women’s magazines Be and Psychologie as part of a plan to focus on brands with a strong potential for digital development. The company plans to keep flagship titles including Elle and its international editions, plus Paris Match.
It has so far received seven bids to acquire all 10 titles and 13 bids to acquire some of them. The deadline for bids submission is Feb. 14.