Declared Dividend • May 21
Final dividend of €1.56 announced Shareholders will receive a dividend of €1.56. Ex-date: 23rd June 2026 Payment date: 25th June 2026 Dividend yield will be 30%, which is higher than the industry average of 6.7%. Sustainability & Growth Dividend is covered by both earnings (68% earnings payout ratio) and cash flows (80% cash payout ratio). The dividend has increased by an average of 2.9% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 16% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Mar 20
Bolloré SE, Annual General Meeting, May 27, 2026 Bolloré SE, Annual General Meeting, May 27, 2026. Announcement • Feb 13
Bolloré SE to Report First Half, 2026 Results on Sep 17, 2026 Bolloré SE announced that they will report first half, 2026 results on Sep 17, 2026 Announcement • Feb 05
Bolloré SE to Report Fiscal Year 2025 Results on Mar 17, 2026 Bolloré SE announced that they will report fiscal year 2025 results at 5:40 PM, Central European Standard Time on Mar 17, 2026 Announcement • Sep 20
Bolloré SE Decides to Pay Interim Cash Dividend, Payable on September 30, 2025 Bolloré SE’s Board of Directors has decided to pay an interim dividend of EUR 0.02 per share, the same as last year, payable in cash only. The ex-interim dividend date will be September 26, 2025, with payment on September 30, 2025. Announcement • Jul 03
Bolloré SE to Report First Half, 2025 Results on Sep 17, 2025 Bolloré SE announced that they will report first half, 2025 results on Sep 17, 2025 Announcement • Mar 26
Bolloré SE, Annual General Meeting, May 21, 2025 Bolloré SE, Annual General Meeting, May 21, 2025. Location: tour bollore, 31 32 quai de dion bouton, puteaux France Announcement • Mar 19
Bolloré Se Proposes Dividend, Payable on June 27, 2024 Bolloré SE announced the General Shareholders’ Meeting will be asked to approve the distribution of a dividend of 0.08 euro per share (including 0.02 euro in interim dividend already paid in September 2024), a 14% increase. The ex-dividend date will be June 10, 2025, with payment in cash only on June 12, 2025. Announcement • Mar 12
Bolloré SE to Report Fiscal Year 2024 Results on Mar 17, 2025 Bolloré SE announced that they will report fiscal year 2024 results on Mar 17, 2025 Announcement • Jul 31
Bolloré SE Announces Interim Dividend, Payable on September 03, 2024 Bolloré SE has decided to pay an interim dividend of 0.02 euro per share, the same as last year, payable in cash only. The ex-interim dividend date will be September 03, 2024, with payment on September 05, 2024. Announcement • Jul 11
Financière Moncey Société anonyme (ENXTPA:FMONC) proposed to acquire Compagnie des Tramways de Rouen (ENXTPA:MLTRA) from Bolloré SE (ENXTPA:BOL) and others for €4.67 billion. Financière Moncey Société anonyme (ENXTPA:FMONC) proposed to acquire Compagnie des Tramways de Rouen (ENXTPA:MLTRA) from Bolloré SE (ENXTPA:BOL) and others for €4.67 billion on July 10, 2024. The proposed parity for the proposed merger, following the division of the nominal value, would be 75 Financière Moncey shares for 1 Compagnie des Tramways de Rouen share. This merger would constitute a measure to rationalize and simplify the structures of the Bolloré group. On June 30, 2024, the Bolloré group held 94.04% of the capital and voting rights of Compagnie des Tramways de Rouen. The boards of directors of Financière Moncey and Compagnie des Tramways de Rouen approved the principle of a merger by way of absorption of the company Compagnie des Tramways de Rouen by Financière Moncey.
Following confirmation of parity by the merger auditor, the boards of directors of Financière Moncey and Compagnie des Tramways de Rouen will meet again by the end of September 2024 to determine the final terms of the merger, approve the signing of the merger agreement and convene, before the end of 2024, the general meetings of shareholders of Financière Moncey and Compagnie des Tramways de Rouen to approve the merger. Announcement • May 23
Bolloré SE Approves Dividend, Payable on 27 June 2024 Bolloré SE at its Ordinary General Meeting held on May 22, 2024, approved the payment of a dividend of €0.07 per share, an increase of 17%, representing an additional dividend of €0.05 per share after the interim dividend of €0.02 per share paid in September 2023. This additional dividend is payable solely in cash and will be paid on 27 June 2024. Declared Dividend • Apr 29
Final dividend increased to €0.05 Dividend of €0.05 is 25% higher than last year. Ex-date: 25th June 2024 Payment date: 27th June 2024 Dividend yield will be 1.1%, which is lower than the industry average of 1.4%. Payout Ratios Payout ratio: 176%. Cash payout ratio: 29%. Declared Dividend • Mar 27
Final dividend increased to €0.05 Dividend of €0.05 is 25% higher than last year. Ex-date: 25th June 2024 Payment date: 27th June 2024 Dividend yield will be 1.1%, which is lower than the industry average of 1.4%. Payout Ratios Payout ratio: 411%. Cash payout ratio: 14%. Announcement • Mar 15
Bolloré Se Proposes Dividend, Payable on June 27, 2024 Bolloré SE announced General Shareholders Meeting will be asked to distribute a dividend of 0.07 eurosper share (including an interim dividend of 0.02 eurosalready paid in 2023),up 17%. The dividend will be detached on June 25, 2024 and the payment, exclusively in cash, will be made on June 27, 2024. Announcement • Mar 01
CMA CGM S.A. completed the acquisition of Bolloré Logistics GIE from Bolloré SE (ENXTPA:BOL) for €4.85 billion. CMA CGM S.A. signed an agreement to acquire Bolloré Logistics GIE from Bolloré SE (ENXTPA:BOL) in a transaction valued at €4.65 billion on July 11, 2023. The purchase price is prior to calculating debt and cash on the completion date. The Bolloré Group confirms the implementation of the contingent earn-out mechanism of €0.25 for each Bolloré SE share tendered to the simplified cash tender offer of Bolloré SE on its own shares, closed on May 30, 2023. This contingent earn-out will be paid if the sale of Bolloré Logistics is completed pursuant to agreed terms. As of February 9, 2024, the Polynesian Competition Authority will block the takeover deal unless CMA CGM cancels one of its liner services, the Panama Direct Line, or sells Bolloré’s subsidiary in the region and the body has also demanded CMA CGM agree to a no-compete clause in Polynesia for five years as the body identified high competitive risks of eviction of competitors to the detriment of competitive activity favourable to freight forwarders and ultimately to consumers. The final completion of the sale remains subject to obtaining authorizations under the control of concentrations and foreign investments in the jurisdictions. As on February 23, 2024, The European Commission has approved, under the EU Merger Regulation, the proposed acquisition of Bolloré Logistics SE (‘Bolloré Logistics') by CMA CGM S.A. (‘CMA CGM'). The approval is conditional upon full compliance with the commitments offered by the parties.Daniel Hurstel, Gabriel Flandin, Annette Péron, and Faustine Viala of Willkie Farr & Gallagher LLP acted as legal advisor to CMA CGM. SG Corporate & Investment Banking acted as financial advisor to Bolloré SE. Mediobanca Banca di Credito Finanziario S.p.A. (BIT:MB) acted as Financial Advisor to CMA CGM S.A. Morgan Stanley International Limited acted as financial advisor to CMA CGM Group.CMA CGM S.A. completed the acquisition of Bolloré Logistics GIE from Bolloré SE (ENXTPA:BOL) for €4.85 billion on February 29, 2024. Bolloré Logistics achieved in 2022 a turnover of €7.1 billion. As a part of acquisition, 14,000 employees will be joining CMA CGM. Announcement • Jan 13
Bolloré SE to Report Q4, 2023 Results on Mar 14, 2024 Bolloré SE announced that they will report Q4, 2023 results on Mar 14, 2024 Upcoming Dividend • Aug 29
Upcoming dividend of €0.02 per share at 1.1% yield Eligible shareholders must have bought the stock before 05 September 2023. Payment date: 07 September 2023. Payout ratio is a comfortable 57% and this is well supported by cash flows. Trailing yield: 1.1%. Lower than top quartile of British dividend payers (6.3%). Lower than average of industry peers (1.9%). New Risk • Aug 01
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 115% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Earnings are forecast to decline by an average of 115% per year for the foreseeable future. Minor Risk Large one-off items impacting financial results. Announcement • Jul 29
Bolloré Decides to Pay Interim Cash Dividend, Payable on September 7, 2023 The Board of Directors of Bolloré decided to pay an interim dividend of €0.02 per share, the same as last year, payable in cash only. The ex-dividend date will be September 5, 2023 and payment will be made on September 7, 2023. Reported Earnings • Jul 29
First half 2023 earnings released First half 2023 results: Revenue: €6.23b (down 46% from 1H 2022). Net income: €43.0m (down 92% from 1H 2022). Profit margin: 0.7% (down from 4.9% in 1H 2022). Revenue is expected to decline by 5.4% p.a. on average during the next 2 years, while revenues in the Entertainment industry in the United Kingdom are expected to grow by 5.1%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 112 percentage points per year, which is a significant difference in performance. Announcement • Jul 12
CMA CGM S.A. signed an agreement to acquire Bolloré Logistics GIE from Bolloré SE (ENXTPA:BOL) for an enterprise value of €4.65 billion. CMA CGM S.A. signed an agreement to acquire Bolloré Logistics GIE from Bolloré SE (ENXTPA:BOL) for an enterprise value of €4.65 billion on July 11, 2023. The purchase price would amount to €4.65 billion, prior to calculating debt and cash on the completion date. The Bolloré Group confirms the implementation of the contingent earn-out mechanism of €0.25 for each Bolloré SE share tendered to the simplified cash tender offer of Bolloré SE on its own shares, closed on May 30, 2023. This contingent earn-out will be paid if the sale of Bolloré Logistics is completed pursuant to agreed terms. The final completion of the sale remains subject to obtaining authorizations under the control of concentrations and foreign investments in the jurisdictions. Daniel Hurstel, Gabriel Flandin, Annette Péron, and Faustine Viala of Willkie Farr & Gallagher LLP acted as legal advisor to CMA CGM. Upcoming Dividend • Jun 27
Upcoming dividend of €0.04 per share at 1.1% yield Eligible shareholders must have bought the stock before 04 July 2023. Payment date: 06 July 2023. Payout ratio is a comfortable 57% and this is well supported by cash flows. Trailing yield: 1.1%. Lower than top quartile of British dividend payers (6.0%). Lower than average of industry peers (2.1%). Reported Earnings • Mar 17
Full year 2022 earnings released: EPS: €0.10 (vs €4.89 loss in FY 2021) Full year 2022 results: EPS: €0.10 (up from €4.89 loss in FY 2021). Revenue: €20.7b (up 4.6% from FY 2021). Net income: €307.0m (up €14.6b from FY 2021). Profit margin: 1.5% (up from net loss in FY 2021). The move to profitability was primarily driven by lower expenses. Revenue is expected to decline by 5.0% p.a. on average during the next 2 years, while revenues in the Entertainment industry in the United Kingdom are expected to grow by 6.4%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 122 percentage points per year, which is a significant difference in performance. Buying Opportunity • Oct 21
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 1.4%. The fair value is estimated to be €6.02, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 9.5% over the last 3 years. Meanwhile, the company became loss making. Upcoming Dividend • Aug 23
Upcoming dividend of €0.02 per share Eligible shareholders must have bought the stock before 30 August 2022. Payment date: 01 September 2022. The company is not currently making a profit but it is cash flow positive. Trailing yield: 1.3%. Lower than top quartile of British dividend payers (5.3%). Lower than average of industry peers (2.1%). Reported Earnings • Jul 30
First half 2022 earnings released First half 2022 results: Revenue: (down 100% from 1H 2021). Net income: (down €219.2m from profit in 1H 2021). Profit margin: (down from 1.7% in 1H 2021). The decrease in margin was driven by lower expenses. Over the next year, revenue is expected to shrink by 16% compared to a 29% growth forecast for the industry in the United Kingdom. Upcoming Dividend • Jun 02
Upcoming dividend of €0.04 per share Eligible shareholders must have bought the stock before 09 June 2022. Payment date: 13 June 2022. The company is not currently making a profit but it is cash flow positive. Trailing yield: 1.2%. Lower than top quartile of British dividend payers (4.9%). Lower than average of industry peers (1.7%). Reported Earnings • Mar 16
Full year 2021 earnings: Revenues exceed analyst expectations Full year 2021 results: Revenue: €19.8b (down 18% from FY 2020). Net income: €6.06b (up €5.64b from FY 2020). Profit margin: 31% (up from 1.8% in FY 2020). Revenue exceeded analyst estimates by 4.1%. Over the next year, revenue is forecast to grow 3.6%, compared to a 39% growth forecast for the industry in the United Kingdom. Reported Earnings • Sep 15
First half 2021 earnings released: EPS €0.075 (vs €0.06 in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: €12.8b (up 10% from 1H 2020). Net income: €219.2m (up 26% from 1H 2020). Profit margin: 1.7% (up from 1.5% in 1H 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 13% per year. Reported Earnings • Aug 02
First half 2021 earnings released The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: €12.8b (up 10% from 1H 2020). Net income: €219.0m (up 26% from 1H 2020). Profit margin: 1.7% (up from 1.5% in 1H 2020). The increase in margin was driven by higher revenue. Upcoming Dividend • Jun 05
Upcoming dividend of €0.04 per share Eligible shareholders must have bought the stock before 10 June 2021. Payment date: 14 June 2021. Trailing yield: 1.4%. Lower than top quartile of British dividend payers (4.0%). Lower than average of industry peers (1.9%). Upcoming Dividend • Jun 03
Upcoming dividend of €0.04 per share Eligible shareholders must have bought the stock before 10 June 2021. Payment date: 14 June 2021. Trailing yield: 1.4%. Lower than top quartile of British dividend payers (4.0%). Lower than average of industry peers (1.9%). Reported Earnings • Mar 06
Full year 2020 earnings released The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: €24.1b (down 3.0% from FY 2019). Net income: €426.0m (up 79% from FY 2019). Profit margin: 1.8% (up from 1.0% in FY 2019). The increase in margin was driven by lower expenses. Analyst Estimate Surprise Post Earnings • Mar 06
Revenue misses expectations Revenue missed analyst estimates by 3.1%. Over the next year, revenue is forecast to grow 5.3%, compared to a 9.8% growth forecast for the Entertainment industry in the United Kingdom. Valuation Update With 7 Day Price Move • Feb 16
Investor sentiment improved over the past week After last week's 16% share price gain to €4.11, the stock is trading at a trailing P/E ratio of 46.4x, up from the previous P/E ratio of 40x. This compares to an average P/E of 53x in the Entertainment industry in the United Kingdom. Total return to shareholders over the past three years is a loss of 5.8%. Is New 90 Day High Low • Feb 11
New 90-day high: €3.62 The company is up 7.0% from its price of €3.39 on 13 November 2020. The British market is up 5.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Entertainment industry, which is up 31% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €4.44 per share. Is New 90 Day High Low • Jan 14
New 90-day high: €3.50 The company is up 7.0% from its price of €3.26 on 15 October 2020. The British market is up 15% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Entertainment industry, which is up 40% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €4.30 per share. 
