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Continued growth in sea and air freight and benefits from higher freight rates
Bolloré has reported strong growth in revenue during Q3, 2021, +22.0% at constant scope and exchange rates to reach €5,082 million. Revenue for the 9M period, at end-September 2021 reached €14,041 million, +15.0% at constant scope and exchange rates.
In Q3, Transportation and Logistics revenues climbed 32.0% (organic growth) and 34.0% overall to €1,901.0 million, thanks to the freight forwarding activities which benefited from the growth in activity in the sea and air transit, the rise in freight rates, and the excellent performance of the port terminals in Africa.
Oil Logistics revenues increased 52.0% to €610.0 million, owing to the increase in oil-product prices and volumes;
Elsewhere in the Group, Communications (Vivendi) revenues grew 10.0% attributable to Vivendi, which benefited in particular from the growth of the Canal+ Group, driven by international operations and Studio Canal, and of the Havas Group, which is experiencing strong growth. Electricity Storage and Systems revenues increased 45.0% driven by the increase in sales of batteries and 12-metre buses.
For the 9M period, Transportation and logistics activity revenue was up 21.0% to €5,124.0 million. This is due to the increase in the Bolloré Africa Logistics business (+9.0%) owing to the strong performance of the port terminals (notably Abidjan Terminal in Côte d’Ivoire, Benin Terminal, Conakry Terminal in Guinea, TICT in Nigeria, and Freetown Terminal in Sierra Leone) and the resumption of the logistics and stevedoring activities in Africa as well as a slight increase in rail activity.
Bolloré Logistics’ revenue rose sharply (+27.0%) thanks to continued growth in sea and air freight and the increase in freight rates.
Oil logistics revenue was up 23.0% to €1,775.0 million, given the sharp increase in volumes, as well as the rise in oil prices.