Lagardere (MMB) AGM 2026 summary

Opening remarks and agenda

• The meeting was held at Casino de Paris on 5 May 2026, with over 1,700 shareholders present and a quorum of 92.7%. Eleven resolutions were on the agenda, including approval of financial statements, dividend distribution, auditor appointments, remuneration policies, and share buyback renewal.

Financial performance review

• 2025 revenues reached EUR 9.4 billion, up 5% reported and 4% like-for-like, with all business segments contributing to growth.

• Operating results (recurring EBIT) were EUR 641 million (+8%), and net consolidated results were EUR 256 million (+27%).

• Net debt improved to EUR 1.6 billion, reduced by EUR 255 million, with a leverage ratio of 1.96x.

• Operating cash flow rose to EUR 573 million, supporting further investment and financial flexibility.

• Q1 2026 revenue exceeded EUR 2 billion, up 3–4%, with robust growth across all segments.

Board and executive committee updates

• The board comprised 11 members (including 2 employee directors), with 55.5% women and 55.5% independence, exceeding legal requirements.

• Two new independent directors, Valérie Hortefeux and Michèle Reiser, were appointed, and six directors had their terms renewed.

• Committees were restructured and maintained high independence and female representation rates, with regular reviews of CSR, audit, and governance.

• The board met six times with a 98.7% attendance rate, addressing financing, auditor selection, and external board evaluation.