BOLLORE :First-quarter 2012 turnover

14 May 2012

First-quarter 2012 turnover: €2.4 billion,

+18% on an unadjusted basis, +14% at constant scope and exchange rates.

• At constant scope and exchange rates, turnover rose by 14% compared with the first quarter of 2011, thanks to strong volumes in the transport and logistics businesses, higher prices and volumes of oil products, and revenue growth in the media. 

• On an unadjusted basis, growth amounted to 18%, thanks to the consolidation of LCN (Les Combustibles de Normandie) on 1 February 2011. 

Turnover:

Bolloré's consolidated turnover for the first quarter of 2012 rose €2,427 million, compared with €2,051 million in the first quarter of 2011, an increase of 18%. At constant scope and exchange rates, it was up 14%.

At constant scope and exchange rates, the main businesses recorded the following performances compared with the first quarter of 2011:

• Transport and logistics: turnover was up 11%. It benefited from higher volumes in freight forwarding, particularly on intra-Asian routes, and the growth of transport and logistics activities in Africa; 

• Fuel distribution: turnover was up 20%, thanks to the impact of higher prices and volumes of oil products. On an unadjusted basis, including LCN (Les Combustibles de Normandie) acquired in February 2011, the increase was 30%; 

• Industry: turnover from industrial activities (electricity storage, plastic films, dedicated terminals and systems) was down 9% due to a decline in volumes of plastic films, and the decline in IER's consolidatable turnover; 

• Other activities: the rise in sales includes the growth in advertising revenues from media activities (Direct 8, Direct Star, Direct Matin, etc.); 

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Highlights and outlook:

• Autolib': the ramp-up of the service launched at the end of 2011 continues, with 1,500 cars in circulation, 500 charging stations, 18,000 subscribers and more than 120,000 hires to date; 

• Financière de l'Odet acquired 3.1% of Bolloré's share capital for €119 million during the first quarter; 

• The Group's liquidity: Bolloré signed a new €1 billion syndicated loan with a pool of banks for a period of five years, replacing a previous credit facility that was to mature in 2014; 

Without it being possible to extrapolate them to the full year, the key industrial and financial indicators were satisfactory at the end of the first quarter of 2012.

Bolloré: First-quarter 2012 turnover

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Source: BOLLORE via Thomson Reuters ONE

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