Bolloré has announced its Q1 2020 results, reporting total revenues of €5,966m a year-on-year increase of 5%. However, at constant scope and exchange rates, revenues grew 1%.
Bolloré’s Transport & Logistics division reported a year-on-year decline of 5% in Q1 2020, producing revenues of €1,394m. This was primarily due to a fall in air traffic and, to a lesser extent, by a slowdown in maritime and the loss of the Douala terminal in Cameroon. Excluding the loss of Douala, the port concessions activity grew.
Revenues of the communications business (Vivendi) reported revenues of €3,868m, up 4% year-on-year. The increase was primarily due to the growth of the Universal Music Group (+13%) and the Canal+ group (+1%).
Bolloré Energy reported revenues of €631m, a year-on-year decline of 6%. The decline was attributed to the fall in oil product prices, however, this was slightly compensated by an increase in volumes.
Electricity Storage and Systems reported a year-on-year increase of 3% to €65m. This increase was due to growth in the battery, dedicated terminals and Polyconseil divisions.
In the press release, the company stated that the impact of COVID-19 crisis on Bolloré Group activities is limited. However, it noted that its transportation and logistics activities are currently benefiting from an increase in freight related to the health crisis, partly offsetting the slowdown in the usual flows.
Source: Bolloré
