Paris, 16 October 2025, 5:35 p.m.




Louis Hachette Group
Solid revenue growth in the third quarter (up 4.8%1)
driven by the two core businesses

Revenue up 3.5%1
over the first nine months of 2025



Lagardère Publishing
Sharp increase in quarterly revenue (up 6.6%1)
driven by all geographic areas
Revenue growth of 3.0%1 since the beginning of the year


Lagardère Travel Retail
A record third quarter with revenue up 5.0%1,
driven by solid performances in Europe and North America
Revenue growth of 4.4%1 over the first nine months, including the effects of reorganisation measures in China

Lagardère Live
Despite a slight contraction in the third quarter (down 2.0%1),
revenue for the first nine months remains on a positive trend (up 1.3%1)


Prisma Media
Despite a decline in revenues in a rapidly evolving market,
Prisma Media remains France’s leading cross-media publisher
with nearly seven out of ten people reading its content each month.



Jean-Christophe Thiery, Chairman and Chief Executive Office of Louis Hachette Group, commented: "In the third
quarter of 2025, Louis Hachette Group posted solid growth of 4.8%.
With record quarterly revenue of over €800 million, Lagardère Publishing has confirmed its leading positions in
each of its geographic areas, with exceptional growth buoyed by a number of bestsellers in the General Literature
segment and our ongoing and successful diversification drive.
Lagardère Travel Retail posted record revenue of nearly €1.7 billion, driven by the success of new openings in
Amsterdam and Auckland.


1 Like for like.
Despite the challenging advertising market, Lagardère Live continued to grow over the first nine months of the
year, driven by circulation and the Elle international licensing rights.
Lastly, Prisma Media remains France's leading cross-media publisher in a rapidly evolving market.
Thanks to its solid performances and complementary businesses, our Group is pressing ahead with its capital
allocation policy, aimed at gradually deleveraging and paying regular dividends, while continuing to invest and
maintaining sufficient flexibility to seize strategic growth opportunities.”



I. GROUP REVENUE

Revenue for the first nine months of 2025

Revenue totalled €7,100 million for the first nine months of 2025, up 4.0% as reported. On a like-for-like
basis, revenue was up 3.5%, driven by Lagardère’s two core businesses.

Reported Like-for-like
30 September 2024 30 September 2025
(€m) change change
(9 months) (9 months)
(%) (%)
Lagardère Publishing 2,074 2,160 +4.1% +3.0%
Lagardère Travel Retail 4,344 4,582 +5.5% +4.4%
Lagardère Live* 192 157 -18.5% +1.3%
Lagardère group 6,610 6,899 +4.4% +3.9%
Prisma Media 214 201 -6.0% -6.6%
Total revenue –
6,824 7,100 +4.0% +3.5%
Louis Hachette Group

* Lagardère Live includes Lagardère News (Le Journal du Dimanche, Le JDNews, Le JDMag, the Elle brand licence and Paris Match – sold on
1 October 2024), Lagardère Radio (Europe 1, Europe 2, RFM), Lagardère Live Entertainment, Lagardère Paris Racing sports club and the
Group Corporate function.

In the first nine months of 2025, the difference between reported and like-for-like figures mainly reflects a
€86 million positive scope effect attributable to the acquisitions of Sterling Publishing in November 2024 and 999
Games in April 2025 by Lagardère Publishing, and of Ideat and The Good Life in April 2024 by Prisma Media, as
well as the consolidation within Lagardère Travel Retail of the Duty Free business at Amsterdam Airport Schiphol
in May 2025, partially offset by the sale of Paris Match in October 2024.
The €52 million negative currency effect was mainly attributable to the depreciation of the US dollar, the Canadian
dollar, the Mexican peso and the Chinese yuan against the euro, offset slightly by the appreciation of the Polish
zloty and the pound sterling.


Breakdown of revenue by geographic area for the nine months to 30 September 2

30 September 30 September
(%) 2024 2025
(9 months) (9 months)
United States and Canada 25% 25%
Western Europe 26% 28%
France 25% 23%
Eastern Europe 13% 14%
Asia-Pacific 6% 5%
Latin America, Middle East and
5% 5%
Africa

2 By destination.

2
Third-quarter 2025 revenue

Third-quarter 2025 revenue totalled €2,605 million, up 4.8% as reported. Like-for-like growth also came out at
4.8% versus the same year-ago period, driven by exceptional growth at Lagardère Publishing (up 6.6%) and
Lagardère Travel Retail (up 5.0%), while Lagardère Live contracted slightly (down 2.0%) and shifting digital usage
patterns weighed on Prisma Media (down 14.4%).

Reported Like-for-like
(€m) Third-quarter 2024 Third-quarter 2025 change change
(%) (%)
Lagardère Publishing 765 811 +5.9% +6.6%
Lagardère Travel Retail 1,596 1,695 +6.2% +5.0%
Lagardère Live 56 42 -25.0% -2.0%
Lagardère group 2,417 2,548 +5.4% +5.4%
Prisma Media 67 57 -14.4% -14.4%
Total revenue –
2,484 2,605 +4.8% +4.8%
Louis Hachette Group

In the third quarter of 2025, the difference between reported and like-for-like figures reflects a €53 million
positive scope effect attributable to the acquisitions by Lagardère Publishing of Sterling Publishing in November
2024 and 999 Games in April 2025, as well as the consolidation within Lagardère Travel Retail of the Duty Free
business at Amsterdam Airport Schiphol in May 2025, partially offset by the sale of Paris Match in October 2024.
The €50 million negative currency effect was mainly attributable to the depreciation of the US dollar, the Canadian
dollar, the pound sterling and the Chinese yuan against the euro.

Unless otherwise specified, the third-quarter revenue changes presented below are calculated on a like-for-like
basis.

Business commentary:
Lagardère group

▪ Lagardère Publishing

Revenue for Lagardère Publishing totalled €811 million in third-quarter 2025, up 5.9% as reported and up 6.6%
like for like.

All business segments contributed to the growth effort, with General Literature enjoying very good performances
in the United States and France, and continued strong momentum for Board Games and Partworks. The difference
between reported and like-for-like revenue is attributable to a €15 million positive scope effect in connection with
the acquisitions of Sterling Publishing and 999 Games, and a €19 million negative currency effect in connection
with the depreciation of the US dollar and pound sterling.

In France, revenue increased by 10%, amid a market that was down 1% (source: GfK). Illustrated Books continued
to benefit from the popularity of colouring books, the runaway success of Stitch and the manga segment, which
was driven by sales of the Blue Lock series at Pika. General Literature sales were buoyed by the successful releases
of Dan Brown’s The Secret of Secrets (JC Lattès) and Cédric Sapin-Defour’s Où les étoiles tombent (Stock). The third
quarter was also lifted by sales of textbooks in connection with national educational reforms affecting primary
school and the first year of secondary school in France.




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In the United Kingdom, revenue was up 2%, benefiting from the successful release of Robert Galbraith's new
novel, The Hallmarked Man, and Ken Follett's Circle of Days, continued strong sales of Freida McFadden's The
Housemaid series, and a new distribution partnership with Bloomsbury.

In the United States, revenue grew by 6% in a declining market. Factoring in the contribution of Sterling Publishing
(Union Square), growth came out at 12.5%. Third-quarter bestsellers included Circle of Days by Ken Follett, The
Hamptons Lawyer by James Patterson and Mike Lupica, The Academy by Elin Hilderbrand and Shelby Cunningham,
and Softly, As I Leave You by Priscilla Presley, as well as the successful release of three special editions of Stephenie
Meyer's Twilight saga on its 20th anniversary, including a boxed set. Lastly, in 2025, Hachette Book Group became
the third-largest publisher in the United States (according to the latest study of the print book market by Circana
BookScan).

In Spain/Latin America, revenue was up 3%, reflecting good sales momentum in the General Literature, Fiction
and Children and Young Adult segments, and despite a lacklustre performance and restructuring measures
initiated in Mexico.

Revenue for Partworks rose by 10%, driven in particular by the popular Warhammer Combat Patrol collection,
especially in the United Kingdom, as well as by robust momentum in Italy, Spain and Latin America.

Board Games continued to grow (up 18%) on the back of strong sales for Skyjo (distributed by Blackrock Games)
and Sky Team (Le Scorpion Masqué), as well as the successful release of Flip 7 (Catch Up Games).

Revenue for Lagardère Publishing for the first nine months of 2025 totalled €2,160 million, up by 4.1% as
reported and by 3.0% like for like. The difference between reported and like-for-like revenue is mainly attributable
to a €44 million positive scope effect in connection with the acquisitions of Sterling Publishing (November 2024)
and 999 Games (April 2025). The €21 million negative currency effect was attributable to the depreciation of the
US dollar, the Australian dollar and the Mexican peso, offset slightly by the appreciation of the pound sterling.

▪ Lagardère Travel Retail

Revenue for Lagardère Travel Retail totalled €1,695 million in third-quarter 2025, up 6.2% on a reported basis
and up 5.0% like for like, driven by all geographic areas except North Asia and the start-up of Duty Free activities
at Auckland airport. Excluding North Asia, revenue grew by 7%.
The difference between reported and like-for-like revenue is attributable to the consolidation of the Duty Free
business at Amsterdam Airport Schiphol. The €31 million negative currency effect mainly reflects the depreciation
of the US dollar, the Canadian dollar and the Chinese yuan.

In France, revenue rose by 3%, and was driven by growth in air passenger traffic, concession wins and sales drives,
as well as successful network upgrades for the Travel Essentials and Dining businesses. During the comparative
period in the third quarter of 2024, business had been lifted by the favourable impact of the Paris Olympic Games.

The EMEA region (excluding France) advanced by 7%, with solid growth once again in the United Kingdom, Spain,
Italy and Poland thanks to increased passenger traffic and network expansion. Business in Africa is expanding
rapidly (up 35%) with recent openings in Douala, Yaoundé and Kigali. At the same time, the Middle East is also
undergoing fast-paced development (up 32%), particularly in the United Arab Emirates and Saudi Arabia.
Like-for-like growth data exclude the contribution of the Duty Free business at Amsterdam Airport Schiphol, which
has been accounted for as a change in scope of consolidation.




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In the Americas, revenue advanced by 4%. In North America (up 3%), business was driven by network expansion
and sales momentum for Travel Essentials and Dining, despite air passenger traffic remaining flat over the period.
South America posted revenue growth of 35% driven by the recovery of tourist traffic and the opening of a new
airport in Lima (Peru).

The Asia-Pacific region posted a decline of 5%, and was hit hard by North Asia (down 50%) due to the continued
streamlining of the business and store closures in mainland China. However, business in the region has benefited
from the successful start-up of Duty Free activities at Auckland airport since 1 July 2025.

Revenue for Lagardère Travel Retail for the first nine months of 2025 totalled €4,582 million, up 5.5% on a
reported basis and up 4.4% like for like, driven by all geographic areas except North Asia. The difference between
reported and like-for-like revenue is attributable to the consolidation of the Duty Free business at Amsterdam
Airport Schiphol. Excluding North Asia, revenue grew by 6%.
The €31 million negative currency effect was mainly attributable to the depreciation of the US dollar, the Canadian
dollar and the Chinese yuan, offset slightly by the appreciation of the Polish zloty and the pound sterling.

▪ Lagardère Live

Revenue for Lagardère Live totalled €42 million in third-quarter 2025, down by 25.0% as reported and by 2.0%
like for like. The difference between reported and like-for-like revenue is due to the negative scope effect linked
to the sale of Paris Match in October 2024.

Revenue for the News & Radio unit was down 2%, reflecting the performance of the music radio stations and the
challenging advertising market, despite the continued rise in audience numbers at Europe 1 and growth in the
Press segment.

Lagardère Live Entertainment was stable, despite the challenging comparison basis with the same year-ago
period due to record programming at Paris venues and renovation work at the Folies Bergère theatre during the
summer of 2025.

Revenue for Lagardère Live for the first nine months of 2025 totalled €157 million, down by 18.5% as reported
and up by 1.3% like for like. The difference between reported and like-for-like revenue is due to the negative
scope effect linked to the sale of Paris Match in October 2024.


Prisma Media

Revenue for Prisma Media totalled €57 million in third-quarter 2025, down by 14.4% both as reported and like
for like. This performance reflects erosion in the print distribution business and shifting digital usage patterns,
which are giving rise to a decline in online advertising.
OneNext Global's most recent audience figures show that Prisma Media is France’s leading cross-media publisher,
with some 39 million people – nearly seven out of ten people in France – reading its content each month.
On 23 July 2025, Prisma Media entered into exclusive negotiations with CMI France for the acquisition of the
magazines Ici Paris and France Dimanche. These transactions would consolidate Prisma Media’s position in the
entertainment press segment. They are expected to complete in the fourth quarter of 2025, subject to the
successful conclusion of negotiations and the information and consultation process for the employee
representative bodies concerned.
Revenue for Prisma Media for the first nine months of 2025 totalled €201 million, down by 6.0% as reported
and by 6.6% like for like. The difference between reported and like-for-like revenue is attributable to a €1 million
positive scope effect in connection with the acquisitions of Ideat and The Good Life in April 2024.




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II. KEY EVENTS IN THE THIRD QUARTER OF 2025

Travel Retail’s flagship brand Relay lands at London Heathrow Airport
On 17 July 2025, Lagardère Travel Retail announced that it had been appointed to operate the Travel Essentials
concession in London Heathrow Terminal 2, marking the debut of the Relay concept at a UK airport and reinforcing
Lagardère Travel Retail’s leading position in the Travel Essentials segment. Four Relay stores will open their doors
in 2026, further consolidating Lagardère Travel Retail's footprint in the United Kingdom.

Acquisition of Ducasse Édition by Hachette Livre
On 21 July 2025, Hachette Livre announced the acquisition of Livres et Communication (LEC), a publisher
specialised in illustrated practical books and operator of the prestigious Ducasse Édition brand, a leading name in
the illustrated cookbook market. Ducasse Édition, which publishes 15 to 20 new releases each year and has a
catalogue of some one hundred titles, will expand the offering of the Hachette Illustré business.

Hachette Livre becomes the first French publisher on TikTok Shop, to help make reading accessible to all
On 22 July 2025, Hachette Livre launched its official store on TikTok Shop, becoming the first publishing group in
France to join this online marketplace as part of its digital innovation strategy. The aim of this initiative is to make
reading more attractive to the younger generation by building on the #BookTok community.

Prisma Media and CMI France enter into exclusive negotiations to acquire the Ici Paris and France Dimanche
magazines
On 23 July 2025, Prisma Media entered into exclusive negotiations with CMI France for the acquisition of the
magazines Ici Paris and France Dimanche. These transactions would consolidate Prisma Media’s position in the
entertainment press segment. They are expected to complete in the fourth quarter of 2025, subject to the
successful conclusion of negotiations and the information and consultation process for the employee
representative bodies concerned.

Hachette Book Group strengthens its leadership in the United States
According to the latest study of the print book market by Circana BookScan, Hachette Book Group became the
third-largest publisher in the United States in 2025.

Lagardère Travel Retail continues to develop in Saudi Arabia
On 25 August 2025, Lagardère Travel Retail announced the launch of new Duty Free and Dining operations at two
key airports in Saudi Arabia, Madinah and Tabuk.

Arnaud Lagardère appointed Chairman of Prisma Media
On 26 August 2025, Prisma Media announced a new governance structure with the appointments of Arnaud
Lagardère as Chairman and Gérald-Brice Viret as Vice-Chairman overseeing the Women's, TV, Entertainment,
Discovery and Business units. In addition, Arnaud de Puyfontaine, a member of Louis Hachette Group Board of
Directors, will more specifically support the development of the Luxury unit. In this phase of the Group's
transformation, the new governance structure will strengthen Prisma's role within Louis Hachette Group and
foster the development of new synergies.

Prisma Media broadens its travel offering with the integration of Routard.com
On 18 September 2025, Prisma Media enriched its advertising offering with the integration of the Routard.com
website, the long-standing and leading French language travel guide, which attracts more than 2.4 million monthly
visitors. This partnership has enabled Prisma Media to expand its portfolio of digital brands under the "Discovery"
banner (GEO, Génération Voyage, Détours en France, Ça M'intéresse, Sciences et Avenir, etc.).

Hachette Livre acquires the Routard brand
On 1 October 2025, Hachette Livre acquired the Routard brand and its constituent elements. As part of the
agreement, the Group also increased its stake in Cyberterre, publisher of the Routard.com website, to 100%.




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Lagardère Travel Retail wins the tender for Duty Free at London Luton airport
On 1 October 2025, Lagardère Travel Retail announced that it had been awarded the Duty Free concession at
London Luton airport. As part of the ten-year concession, Lagardère Travel Retail will carry out a comprehensive
extension of its main Duty Free store at the airport, where it has operated since 2005.


III. OUTLOOK

Thanks to its solid performances and complementary businesses, our Group is pressing ahead with its capital
allocation policy, aimed at gradually deleveraging and paying regular dividends, while continuing to invest and
maintaining sufficient flexibility to seize strategic growth opportunities.

IV. INVESTOR CALENDAR3

• Full-year 2025 results: Thursday, 19 February 2026 at 5:35 p.m.


V. GLOSSARY

Louis Hachette Group uses alternative performance measures which serve as key indicators of the Group’s operating and
financial performance. These indicators are tracked by General Management in order to assess performance and manage the
business, as well as by investors in order to monitor the Group’s operating performance, along with the financial metrics
defined by the IASB.
These indicators are calculated based on accounting items taken from the consolidated financial statements prepared under
IFRS.

➢ Like-for-like revenue
Like-for-like revenue is used by the Group to analyse revenue trends excluding the impact of changes in the scope of
consolidation and in exchange rates.
The like-for-like change in revenue is calculated by comparing:
• revenue for the period and revenue for the prior-year period adjusted for companies consolidated for the first time during
the period and consolidated companies divested during the period;
• revenue for the period and revenue for the prior-year period adjusted based on the exchange rates applicable in the
period.

The scope of consolidation comprises all fully consolidated entities. Additions to the scope of consolidation correspond to
business combinations (acquired investments and businesses), and deconsolidations correspond to entities over which the
Group has relinquished control (full or partial disposals of investments and businesses, such that the entities concerned are
no longer included in the Group’s financial statements using the full consolidation method).

➢ EBITA
To calculate EBITA, the accounting impact of the following items is eliminated from profit before finance costs and tax: gains
and losses arising on disposals of businesses and acquisition-related costs, the amortisation of intangible assets acquired
through business combinations and the impairment on goodwill and other intangible assets acquired through business
combinations, other income and expenses related to transactions with shareholders, as well as items related to concession
agreements (IFRS 16).

➢ Adjusted profit – Group share
Adjusted profit – Group share is calculated on the basis of profit for the period, excluding non-recurring/non-operating items,
net of the related tax and of minority interests, as follows:

Profit for the period

Excluding:
• Gains (losses) on disposals of assets
• Impairment losses on goodwill, property, plant and equipment, intangible assets and investments in equity-accounted
companies


3
Dates susceptible to change.

7
• Net restructuring costs
• Items related to business combinations:
- Acquisition-related expenses
- Gains and losses resulting from purchase price adjustments and fair value adjustments due to changes in control
- Amortisation of acquisition-related intangible assets
• Specific major disputes unrelated to the Group’s operating performance
• Tax effects of the above items
• Non-recurring changes in deferred taxes
• Items related to leases and finance sub-leases:
- Cancellation of fixed rental expense* on concession agreements
- Depreciation of right-of-use assets on concession agreements
- Interest expense on lease liabilities under concession agreements
- Gains and losses on leases
• Adjusted profit attributable to minority interests: profit attributable to minority interests adjusted for minorities’ share
in the above items
= Adjusted profit – Group share

* Cancellation of fixed rental expense on concession agreements is equal to the repayment of the lease liability, the
associated change in working capital and interest paid in the statement of cash flows.


➢ Free cash flow
Free cash flow is calculated as cash flow from operations before changes in working capital, the repayment of lease liabilities
and related interest paid, changes in working capital and interest paid plus net cash flow relating to acquisitions and disposals
of property, plant and equipment and intangible assets.


➢ Net debt
Net debt is calculated as the sum of the following items:
• Short-term investments and cash and cash equivalents
• Financial instruments designated as hedges of debt
• Current and non-current debt excluding liabilities related to minority put options

Due to rounding, the figures shown may not correspond exactly to the totals.

***




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About Louis Hachette Group

Louis Hachette Group, which owns 66.31% of Lagardère SA and 100% of Prisma Media, is a global group with over 34,000 employees in
more than 45 countries. It is a leading and diversified player in the fields of publishing, travel retail and media:

- Lagardère Publishing, the world’s third-largest book publishing group for the general public in the trade and educational markets, and
the leader in France: Books (paper, digital and audio formats), Partworks, Board Games and Premium Stationery;

- Lagardère Travel Retail, the world’s third-largest travel retail merchant and number one in France: Travel Essentials, Duty Free & Fashion,
and Dining.

- Prisma Media, the French leader in magazines and digital press, with a portfolio of over 40 leading brands.

The Group also carries out other activities in the media and entertainment space with Lagardère Live, which includes Lagardère News (press
and the Elle brand licence), Lagardère Radio (radio and advertising sales brokerage), Lagardère Live Entertainment (performing arts) and
Lagardère Paris Racing (sports club).

In 2024, Louis Hachette Group's activities generated revenue of €9,235 million.

The company is listed on Euronext Growth (Paris) – (ALHG/FR001400TL40).

For more information, visit www.louishachettegroup.com

Important notice:

Some of the statements contained in this document are not historical facts but are rather statements of future expectations, estimates,
plans, objectives, future events and other forward-looking statements that are based on management’s beliefs. These statements reflect
such views and assumptions prevailing as of the date of the statements. No undue reliance should be placed on such forward-looking
statements, which by nature involve known and unknown risks and uncertainties that could cause future results, performance or
achievements to differ materially from those expressed or implied in such statements.

Please refer to the Annual Report prepared by Louis Hachette Group and published on its website (www.louishachettegroup.com) for
additional information in relation to such factors, risks and uncertainties.

Louis Hachette Group has no intention and is under no obligation to update or review the forward-looking statements referred to above
to reflect new information, circumstances, future events or otherwise, except as required by applicable laws and regulations.
Consequently, Louis Hachette Group accepts no liability for any consequences arising from the use of any of the above statements. This
press release does not constitute a solicitation to buy or sell Louis Hachette Group shares or, more generally, to trade in Louis Hachette
Group shares.

***




CONTACTS

Press: Investor Relations:
communication@louishachettegroup.com ir@louishachettegroup.com
Emmanuel Rapin
Nathalie Pellet




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