Bollore stock falls after flat H1 revenues, industry segment decline

Investing.com -- Bollore stock dropped 1.5% after the company reported flat first-half 2025 revenues of €1.547 billion, with a 3% decline on a like-for-like basis. The results were weighed down by weakness in the company’s Industry division.

The French conglomerate’s Industry segment saw a significant 14% drop in revenue, while its Energy division posted a more modest 2% decline. Despite these challenges, Bollore’s EBITA (earnings before interest, taxes, and amortization) reached €123 million for the period.

The company’s Communication block, which includes its stakes in Universal Music Group, Canal+, Lagardère, Havas, and Vivendi, contributed €203 million to the EBITA. Meanwhile, the Energy division added €27 million, representing 2.0% of sales and marking a 60 basis point improvement year-over-year. The struggling Industry division reported a negative EBITA of €52 million.

Bollore’s net result came in at €240 million, including €95 million in financial revenues generated from its cash reserves. The company’s net cash position slightly exceeded €5.5 billion at the end of June, representing a €200 million increase since the beginning of the year.

During the first half, Bollore was active in capital management, acquiring 1.26% of its own shares before canceling treasury shares representing 1.8% of its capital. The company also spent €24 million to acquire 1.1% of its subsidiary Moncey and invested €38 million for a 1.5% stake in Artois.

Its parent company Odet was similarly active, selling 6 million UMG shares (0.3% of UMG’s capital) for €165 million while acquiring 7.4% of Havas for €107 million and 2.6% of Canal+ for €59 million. Odet also purchased 0.2% of its own shares during the period.

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