Compagnie de l'Odet: Results in Line with Expectations After Significant Changes in Scope

On September 16, 2024, the Board of Directors of Compagnie de l'Odet approved the financial statements for the first half of 2024. The results met expectations following substantial scope changes, including Bolloré Logistics' sale on February 29, 2024, and Lagardère's full consolidation by Vivendi from December 1, 2023.

Revenue reached €10,591 million, a 4% increase at constant scope and exchange rates. Despite declines in the Oil Logistics and Industry sectors, the adjusted operating income (EBITA) grew by 10% to €611 million, mainly driven by the Communication segment's performance. Net result surged to €3,869 million, incorporating the €3.7 billion net gain from the Bolloré Logistics sale.

Net cash excluding Vivendi stood at €5,614 million as of June 30, 2024, versus €932 million at end-2023. Including Vivendi, net cash was €1,734 million, reflecting increased Vivendi debt due to acquisitions totaling €1,041 million.