Vivendi: strong growth in operational results in the first half of 2024
- Revenues of €9.052 billion, a 5.8% organic increase compared to the first half of 2023, due to the excellent performances of Lagardère and Canal+ Group
- EBITA of €619 million (+39.3% compared to the first half of 2023), thanks in particular to the consolidation of Lagardère and the growth of Havas. At constant currency and perimeter, EBITA increased by 13.5%
- Adjusted net income of €329 million
-
Earnings attributable to
shareowners of €159 millionVivendi SE - Update on the Group’s split project
The Supervisory Board would like to thank all the Group's teams for their work. They managed to combine day-to-day operational excellence with the study of Vivendi’s split project which was presented to the employee representative bodies of the concerned Group entities this week. If it were to be completed, this value-creating and profoundly transformative project would offer exciting prospects for all our stakeholders.”
In recent months, all of our various entities have consolidated their leadership positions. On the strength of these achievements, we look forward to the rest of the year with confidence.”
- Comments on earnings
This press release contains unaudited condensed financial results for the first half of 2024, established under IFRS, which were approved by Vivendi’s Management Board on
For the first half of 2024, Vivendi’s revenues were €9,052 million, an increase of 92.7% compared to the same period of 2023, which mainly included the impact of the consolidation of Lagardère1 (+€4,193 million). This change also reflected revenue growth at Canal+ Group (+4.6%) and Havas (+3.6%). At constant currency and perimeter, Vivendi’s revenues grew by 5.8% compared to the first half of 2023, mainly due to the performance of Lagardère (+10.1%) and Canal+ Group (+3.2%), while Havas recorded a slight increase.
For the second quarter of 2024, Vivendi’s revenues were €4,777 million, an increase of 98.4% compared to the same period of 2023, which mainly included the impact of the consolidation of Lagardère1 (+€2,310 million). This change also reflected revenue growth at Canal+ Group (+5%) and Havas (+1.4%). At constant currency and perimeter, Vivendi’s revenues grew by 6.1% compared to the second quarter of 2023, mainly due to the performance of Lagardère (+11.1%) and Canal+ Group (+3.7%).
For the first half of 2024, EBITA was €619 million, an increase of €175 million (+39.3%) compared to the first half of 2023. At constant currency and perimeter, EBITA increased by 13.5%.
- The contribution of the group’s business units to EBITA for the first half of 2024 was €571 million, an increase of 50.5% compared to the first half of 2023. This change was mainly due to the consolidation of Lagardère1, as well as the growth of Havas.At constant currency and perimeter, EBITA increased by 12.7% for the first half of 2024. This change mainly reflected the growth of Lagardère (65.2%).
- Income from equity affiliates-operational of Universal Music Group (UMG) was €48 million, compared to €39 million for the first half of 2023. As a reminder, for the first half of 2023, EBITA included income from equity affiliates operational of Lagardère for €26 million.
For the first half of 2024, interest was a charge of -€38 million, compared to an income of €15 million for the first half of 2023. In addition to the impact of the consolidation of Lagardère on the increase of average outstanding borrowings (€5.0 billion, compared to €3.6 billion for the first half of 2023), this change reflected an increase in the average interest rate on borrowings to 2.62% (compared to 0.87% for the first half of 2023).
For the first half of 2024, income from investments was €68 million, compared to €67 million for the first half of 2023. This amount mainly included dividends from
For the first half of 2024, other financial charges and income were a net charge of €40 million, compared to -€56 million for the first half of 2023, a favorable change of €16 million. This reflected the capital gain related to the sale of Vivendi’s festival and international ticketing activities (+€106 million) in
For the first half of 2024, provision for income taxes reported to adjusted net income was a net charge of €183 million, compared to €119 million for the first half of 2023, notably including the impact of the consolidation of Lagardère (-€66 million). The effective tax rate reported to adjusted net income was 30.5%, compared to 25.9% for the first half of 2023.
For the first half of 2024, adjusted net income was a profit of €329 million (or €0.32 per share-basic), compared to €324 million for the first half of 2023 (or €0.32 per share-basic).
For the first half of 2024, earnings attributable to
- Liquidity
As of
In addition,
- Update on the Group’s split project
On
Canal+ and Havas, although listed outside of
In the interest of legal certainty, discussions have been initiated with the authorities to clarify the tax treatment of this transaction. In anticipation of the entry into force of new provisions that could govern the tax treatment of partial splits, the application of common tax rules would lead, on the one hand, to considering the tax treatment of reimbursement of capital, and, on the other hand, to considering the tax treatment of investment income up to the amount of Vivendi’s distributable reserves, for the listings planned in this project.
The procedures for informing and consulting the employee representative bodies of the concerned Group entities have been initiated on this project.
It is reminded that at this stage, and according to applicable law, no decision to carry out this project has been, or can be, taken, and that no further action, even potential, can be presumed with regard to this project. If this project were to proceed following the information and consultation procedures, a decision could be taken at the end of
- Return to shareholders
On
- Comments on the Businesses Key Financials
Canal+ Group: growth of 4.6% driven by all its businesses and numerous developments
For the first half of 2024, Canal+ Group’s revenues were €3,096 million, an increase of 4.6% compared to the first half of 2023 (+3.2% at constant currency and perimeter). All of the group’s businesses drove this growth.
Revenues from television operations in mainland
Revenues from international operations increased by 4.2% year-on-year (+2.6% at constant currency and perimeter), due to continued growth in the subscriber base.
Revenues from
For the first half of 2024, Canal+ Group’s profitability remained stable compared to the first half of 2023, with a stable EBITA of €337 million (a slight decrease of -1.9% at constant currency and perimeter). These results were supported by major developments across the group’s strategic pillars.
International development pillar:
-
on
February 9, 2024 , following a successful recapitalization, Canal+ Group increased its interest in Viaplay, the Scandinavian leader in pay-TV and streaming, to 29.33%, confirming its position as the largest shareholder;
-
on
March 22, 2024 , Canal+ Group announced that it had acquired an interest in Senegalese production company Marodi TV, one of the major players in the creation of series inAfrica ;
-
on
June 4, 2024 , the Canal+ and MultiChoice Groups issued a combined circular to MultiChoice shareholders, a step forward in Canal+ Group’s vision to create, with MultiChoice, a global entertainment business withAfrica at its heart. This circular concerns the mandatory offer by Canal+ Group to acquire the MultiChoice shares it does not own, for a consideration of R125.00 per share.
It includes a recommendation by the Independent Board of MultiChoice to accept the Canal+ Group offer in the event it becomes unconditional, along with an assessment which concludes that the terms and conditions of the offer are fair and reasonable for MultiChoice shareholders; and
-
on
June 20, 2024 , Canal+ Group took a further step in developingAsia as one of its growth engine, by increasing its interest to 36.8% in Viu, a leading OTT (over-the-top) streaming service inAsia . A further investment, at Canal+ Group election, could result in an increase of Canal+ Group’s interest in Viu to 51%.
Content pillar:
-
on
January 31, 2024 , Canal+ Group completed the acquisition from Orange of the OCS pay-TV package andOrange Studio , the film and series co-production subsidiary. With the acquisition of OCS, Canal+ Group has strengthened its offer of film and series thematic channels, launching a new ‘Ciné+ OCS’ offering onJuly 3, 2024 ;
-
on
April 29, 2024 , Canal+ Group announced the creation of “Studiocanal Stories”, a new label dedicated to literary adaptations into films and TV series, the first inFrance and several European countries. Under this new label,Studiocanal and EditionsAlbert René announced that they had entered into an exclusive development agreement for the sixth live action film of the adventures of Asterix;
-
on
May 7, 2024 , Canal+ Group and Warner Bros. Discovery announced a distribution agreement for the streaming service Max. Since its launch inFrance onJune 11, 2024 , Max has been included in Canal+ offers and all its content can be viewed directly on myCanal. This agreement follows the signing of an exclusive multi-year agreement with Warner Bros. Discovery in January, allowing Canal+ to be the only player inFrance able to broadcast Warner Bros. Pictures films only six months after their release in French cinemas. Warner Bros. Discovery has also chosen Canal+ Brand Solutions to market Max’s advertising lists inFrance , for its Basic offer with advertising;
-
on
May 22, 2024 , Canal+ Group strengthened its position as leader in aggregation and accessibility by launching TV+ inFrance , its new streaming offer bringing together all live and replay DTT channels in a single app, with an additional selection of Canal+ content, for €2 per month with no commitment;
-
on
May 22, 2024 , Canal+ Group won the new call for tenders from theNational Rugby League for the exclusive broadcasting rights to the TOP 14 and PRO D2, until the 2031/2032 season inclusive; and
-
on
May 31, 2024 , Canal+ Group and Netflix announced they were renewing their distribution agreement, entered into in 2019. This renewal runs over several years and coversFrance as well asPoland .
Lagardère: 65% increase in EBITA
Revenue for the Lagardère group climbed to €4,193 million in the first half of 2024, up 13.3% as reported year on year and up 10.1% like for like.
For the first half of 2024, Lagardère’s EBITA was €201 million, up 65.2% like-for-like compared to the first half of 2023.
Revenue for Lagardère Publishing totaled €1,309 million in first-half 2024, up 5.0% on a reported basis and up 4.5% like-for-like. The difference between reported and like-for-like data is mainly attributable to a €1 million positive scope effect attributable to the acquisition of Catch-Up Games, and to a €4 million positive currency effect.
-
In
France , revenue was down by a slight 0.7% against a high comparison basis, in line with the market, attributable in particular to lower business levels at textbook publishers.Illustrated Books enjoyed good momentum, thanks to the Young Adult segment. The Comics segment edged back due to the lack of an equivalent to Asterix et Obélix : L’Empire du Milieu published in 2023, as well as a weaker performance in the Travel Guides segment. General Literature had a good first half of the year, with highlights including the publication of Quelqu’un d’autre byGuillaume Musso , D’or et de jungle byJean-Christophe Ruffin and Un monde presque parfait byLaurent Gounelle . -
In the
United Kingdom , revenue grew strongly by 8.4% despite a slightly declining market. Growth was mainly driven by dynamic backlist sales in the first half of the year. Business was also lifted by best-sellers. The international segment was up too, especiallyAustralia , boosted by the same successful titles. -
In
the United States , business grew by a sharp 7.7%, driven notably by the publishing schedule atLittle, Brown and Company . It was also lifted by growth at the Hachette Audio unit, on the back of a strong performance in digital downloads, as well as by good backlist sales at Orbit and Little,Brown Books for Young Readers. -
In
Spain /Latin America , revenue grew by 7.9%. Business remained stable inSpain but was up sharply inMexico . -
Revenue from Partworks advanced by 2.0%, boosted in particular by successful collections launched in
France andJapan in the second half of 2023.
Lagardère Publishing reported €113 million in recurring EBIT, up by €48 million on first-half 2023. This performance was driven by growth in the
Revenue for Lagardère Travel Retail in first-half 2024 totaled €2,748 million, up 18.0% on a reported basis and up 13.5% like-for-like. The difference between reported and like-for-like data is attributable to a €95 million positive scope effect, attributable to the acquisitions of Tastes on the Fly, Marché International and
-
In
France , business surged 18.1%, supported in particular by the success of the Extime Duty Free Paris joint venture with the ADP group, as well as network upgrades and sales initiatives rolled out across all networks and business lines. -
The EMEA region (excluding
France ) saw sharp growth of 21.7%, buoyed by excellent performances inRomania , theUnited Kingdom and inItaly . -
Revenue in the
Americas grew by 7.0% against a high comparison basis, carried by robust momentum inthe United States .Peru also recorded very sharp growth, supported by an improved macroeconomic environment. -
Asia-Pacific recorded a decline of 17.4%, due to the slowdown inChina as a result of the unfavorable economic climate and network streamlining.
Lagardère Travel Retail reported €109 million in recurring EBIT, an improvement of €17 million on first-half 2023. The increase was driven by solid performances across all geographic areas led by
Revenue for Other Activities in first-half 2024 totaled €136 million, up 9.2% as reported and stable like-for-like.
Business levels were up thanks to the performance of Lagardère
Recurring EBIT of Other Activities amounted to a loss of €10 million, a €6 million improvement on first-half 2023, due to cost savings achieved across all activities.
Havas: launch of the new strategic plan, “Converged”
For the first half of 2024, Havas’s revenue was €1,366 million, an increase of 3.6% compared to the first half of 2023.
Net revenues2 were €1,308 million, an increase of 3.4% compared to the first half of 2023 (stable on an organic basis). The impact of acquisitions was +3.5% and included contributions from
All geographical areas posted strong organic growth in net revenue compared to the first half of 2023 (+3.8% in
For the first half of 2024, EBITA rose sharply to €125 million, an increase of 6.0% due to a continued cost base optimization.
On
After two record years, Havas has continued to make acquisitions with the integration of four new agencies since
In the second quarter of 2024, Havas's creativity was once again highly rewarded. At the Cannes Lions, 12 Havas agencies distinguished themselves by winning 25 awards (compared to 19 last year) including 3 Gold, 10 Silver and 12 Bronze and
For the first half of 2024, Prisma Media’s revenues were €147 million, an increase of 0.4% at constant currency and perimeter compared to the first half of 2023.
The latest audience results for One Next Global S12024 demonstrated that
At the end of
In the first half of 2024,
On
In
Digital affiliation (e-commerce) and advertising revenues on social media increased by more than 10% compared to the first half of 2023. Prisma Media’s social media audiences continued to grow with an increase of 28% of followers compared to the first half of 2023.
For the first half of 2024,
For the first half of 2024,
For the first half of 2024,
For the first half of 2024, Gameloft’s EBITA was €-12 million, stable compared to the first half of 2023. Excluding restructuring charges, EBITA was €-7 million, an increase of €2 million compared to the first half of 2023.
On
For the first half of 2024, the revenues of New Initiatives, which mainly brings together
For the first half of 2024, the revenues of
GVA,
For additional information, please refer to the “Financial Report for the half year 2024” to be released tonight (
About
Since 2014,
Important Disclaimers
Cautionary Note Regarding Forward-Looking Statements. This press release contains forward-looking statements with respect to Vivendi’s financial condition, results of operations, business, strategy, plans and outlook, including the impact of certain transactions, such as the contemplated split and listing projects and any related transactions, and the payment of dividends and distributions, as well as share repurchases. Although
Investors and security holders may obtain a free copy of documents filed by
Unsponsored ADRs.
ANALYST CONFERENCE CALL
Speakers:
Chief Executive Officer
Member of the Management Board and Chief Financial Officer
Date:
Media invited on a listen-only basis.
The conference will be held in English.
Internet: The conference can be followed on the Internet at: www.vivendi.com (audiocast)
Numbers to dial:
-
Paris : +33 (0) 1 70 37 71 66 -
UK : +44 (0) 33 0551 0200 - US: +1 212 999 6659
-
Password:
Vivendi
An audio webcast and the slides of the presentation will be available on the company’s website www.vivendi.com.
1
Following the takeover of Lagardère by
2
Net revenues, a non-GAAP measure, is calculated as Havas’s revenues less pass-through costs rebilled to customers.
APPENDIX I
|
|||||
|
Six months ended |
|
% Change |
||
|
2024 |
|
2023 |
|
|
REVENUES |
9,052 |
|
4,698 |
|
+92.7% |
Cost of revenues |
(4,626) |
|
(2,537) |
|
|
Selling, general and administrative expenses excluding amortization of intangible assets acquired through business combinations |
(3,844) |
|
(1,778) |
|
|
Restructuring charges |
(14) |
|
(4) |
|
|
Income from equity affiliates - operational |
51 |
|
65 |
|
|
Adjusted earnings before interest and income taxes (EBITA)* |
619 |
|
444 |
|
+39.3% |
Amortization and depreciation of intangible assets acquired through business combinations |
(139) |
|
(40) |
|
|
Impact of IFRS 16 on EBITA for concession agreements |
24 |
|
- |
|
|
Settlement agreement with all the institutional investors |
(95) |
|
na |
|
|
EARNINGS BEFORE INTEREST AND INCOME TAXES (EBIT) |
409 |
|
404 |
|
+1.3% |
Income from equity affiliates - non-operational |
(67) |
|
(60) |
|
|
Interest |
(38) |
|
15 |
|
|
Income from investments |
68 |
|
67 |
|
|
Other financial charges and income |
(40) |
|
(56) |
|
|
|
(10) |
|
26 |
|
|
Earnings before provision for income taxes |
332 |
|
370 |
|
-10.4% |
Provision for income taxes |
(139) |
|
(133) |
|
|
Earnings from continuing operations |
193 |
|
237 |
|
-18.9% |
Earnings from discontinued operations |
- |
|
(33) |
|
|
Earnings |
193 |
|
204 |
|
-5.5% |
Non-controlling interests |
(34) |
|
(30) |
|
|
EARNINGS ATTRIBUTABLE TO VIVENDI SE SHAREOWNERS |
159 |
|
174 |
|
-8.3% |
of which earnings from continuing operations attributable to |
159 |
|
207 |
|
|
Earnings from discontinued operations attributable to |
- |
|
(33) |
|
|
Earnings attributable to |
0.16 |
|
0.17 |
|
|
Earnings attributable to |
0.16 |
|
0.17 |
|
|
|
|
|
|
|
|
Adjusted net income* |
329 |
|
324 |
|
+1.5% |
Adjusted net income per share (in euros)* |
0.32 |
|
0.32 |
|
|
Adjusted net income per share - diluted (in euros)* |
0.32 |
|
0.32 |
|
|
In millions of euros, except per share amounts.
na: not applicable.
*non-GAAP measures.
As a reminder,
“EBITA” and “adjusted net income”, both non-GAAP measures, should be considered in addition to, and not as a substitute for, other GAAP measures of operating and financial performance.
Vivendi’s Management uses EBITA and adjusted net income for reporting, management and planning purposes because they exclude most non-recurring and non-operating items from the measurement of the business segments’ performances.
For any additional information, please refer to the “Financial Report for the half-year 2024“, which will be released online later on Vivendi’s website (www.vivendi.com).
APPENDIX I (Cont’d)
|
|||
Reconciliation of earnings attributable to |
|||
|
Six months ended |
||
(in millions of euros) |
2024 |
|
2023 |
Earnings attributable to |
159 |
|
174 |
Adjustments |
|
|
|
Amortization and depreciation of intangible assets acquired through business combinations (a) |
139 |
|
40 |
Amortization of intangible assets related to equity affiliates - non-operational |
7 |
|
9 |
Impact of IFRS 16 on EBITA for concession agreements |
(24) |
|
- |
Settlement agreement with all the institutional investors |
95 |
|
na |
Other financial charges and income (a) |
40 |
|
56 |
Earnings from discontinued operations (a) |
- |
|
33 |
Provision for income taxes on adjustments |
(44) |
|
14 |
Impact of adjustments on non-controlling interests |
(43) |
|
(2) |
Adjusted net income |
329 |
|
324 |
- As reported in the condensed statement of earnings.
|
Six months ended |
|
% change |
||
(in millions of euros) |
2024 |
|
2023 |
|
|
Revenues |
9,052 |
|
4,698 |
|
+92.7% |
Adjusted earnings before interest and income taxes (EBITA) |
619 |
|
444 |
|
+39.3% |
Income from equity affiliates - non-operational |
(60) |
|
(51) |
|
|
Interest |
(38) |
|
15 |
|
|
Income from investments |
68 |
|
67 |
|
|
Adjusted earnings from continuing operations before provision for income taxes |
589 |
|
475 |
|
+23.8% |
Provision for income taxes |
(183) |
|
(119) |
|
|
Adjusted net income before non-controlling interests |
406 |
|
356 |
|
+14.1% |
Non-controlling interests |
(77) |
|
(32) |
|
|
Adjusted net income |
329 |
|
324 |
|
+1.5% |
APPENDIX II
|
|||||||||||
|
Six months ended |
|
|
|
|
|
|
|
|||
(in millions of euros) |
2024 |
|
2023 |
|
% Change |
|
% Change at
|
|
% Change at
|
|
|
Revenues |
|
|
|
|
|
|
|
|
|
|
|
Canal+ Group |
3,096 |
|
2,959 |
|
+4.6% |
|
+3.9% |
|
+3.2% |
|
|
Lagardère |
4,193 |
|
na |
|
na |
|
na |
|
+10.1% |
(a) |
|
Havas |
1,366 |
|
1,318 |
|
+3.6% |
|
+3.7% |
|
+0.3% |
|
|
Of which net revenues (b) |
1,308 |
|
1,265 |
|
+3.4% |
|
+3.5% |
|
- |
|
|
|
147 |
|
153 |
|
-4.1% |
|
-4.1% |
|
+0.4% |
|
|
|
132 |
|
139 |
|
-5.2% |
|
-4.8% |
|
-4.8% |
|
|
|
52 |
|
81 |
|
na |
|
na |
|
-0.9% |
(c) |
|
New Initiatives |
90 |
|
66 |
|
+36.0% |
|
+36.0% |
|
+32.2% |
|
|
Generosity and solidarity |
1 |
|
1 |
|
|
|
|
|
|
|
|
Elimination of intersegment transactions |
(25) |
|
(19) |
|
|
|
|
|
|
|
|
Total |
9,052 |
|
4,698 |
|
+92.7 % |
|
+91.9 % |
|
+5.8% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EBITA |
|
|
|
|
|
|
|
|
|
|
|
Canal+ Group |
337 |
|
337 |
|
-0.1% |
|
-1.9% |
|
-1.9% |
|
|
Lagardère |
201 |
|
na |
|
na |
|
na |
|
+65.2% |
(a) |
|
Havas |
125 |
|
118 |
|
+6.0% |
|
+5.9% |
|
+0.1% |
|
|
|
9 |
|
17 |
|
-45.6% |
|
-45.6% |
|
-28.5% |
|
|
|
(12) |
|
(12) |
|
-1.7% |
|
+2.5% |
|
+2.5% |
|
|
|
2 |
|
7 |
|
na |
|
na |
|
-63.2% |
(c) |
|
New Initiatives |
(20) |
|
(22) |
|
+8.6% |
|
+8.6% |
|
+7.8% |
|
|
Generosity and solidarity |
(6) |
|
(5) |
|
|
|
|
|
|
|
|
Corporate |
(65) |
|
(61) |
|
|
|
|
|
|
|
|
Subtotal EBITA of the business segments |
571 |
|
379 |
|
+50.5% |
|
+48.1% |
|
+12.7% |
|
|
|
48 |
|
39 |
|
+23.8 % |
|
+23.8% |
|
+23.8% |
|
|
|
na |
|
26 |
|
na |
|
na |
|
na |
|
|
Total |
619 |
|
444 |
|
+39.3% |
|
+37.5% |
|
+13.5% |
|
|
na: not applicable.
-
Constant perimeter notably reflects the impacts of the combination with Lagardère, which has been fully consolidated from
December 1, 2023 . - Net revenues, a non-GAAP measure, relates to Havas’s revenues less pass-through cost rebilled to customers.
-
Constant perimeter notably reflects the impacts of the sale of Vivendi’s festival and international ticketing activities on
June 6, 2024 . -
Includes share of earnings of companies accounted for by
Vivendi under the equity method of UMG and Lagardère untilNovember 30, 2023 .
APPENDIX II (Cont’d)
|
|||||||
|
2024 |
|
|
|
|
||
(in millions of euros) |
Three months ended
|
|
Three months ended
|
|
|
|
|
Revenues |
|
|
|
|
|
|
|
Canal+ Group |
1,542 |
|
1,554 |
|
|
|
|
Lagardère |
1,883 |
|
2,310 |
|
|
|
|
Havas |
649 |
|
717 |
|
|
|
|
of which net revenues (b) |
617 |
|
691 |
|
|
|
|
|
71 |
|
76 |
|
|
|
|
|
68 |
|
64 |
|
|
|
|
|
31 |
|
21 |
|
|
|
|
New Initiatives |
42 |
|
48 |
|
|
|
|
Generosity and solidarity |
- |
|
1 |
|
|
|
|
Elimination of intersegment transactions |
(11) |
|
(14) |
|
|
|
|
Total |
4,275 |
|
4,777 |
|
|
|
|
|
|
|
|
|
|
|
|
|
2023 |
||||||
(in millions of euros) |
Three months ended
|
|
Three months ended
|
|
Three months ended
|
|
Three months ended
|
Revenues |
|
|
|
|
|
|
|
Canal+ Group |
1,478 |
|
1,481 |
|
1,500 |
|
1,599 |
Lagardère (a) |
na |
|
na |
|
na |
|
670 |
Havas |
611 |
|
707 |
|
686 |
|
868 |
of which net revenues (b) |
588 |
|
677 |
|
654 |
|
776 |
|
73 |
|
80 |
|
71 |
|
85 |
|
71 |
|
68 |
|
74 |
|
98 |
|
33 |
|
48 |
|
63 |
|
36 |
New Initiatives |
31 |
|
35 |
|
37 |
|
49 |
Generosity and solidarity |
1 |
|
- |
|
1 |
|
1 |
Elimination of intersegment transactions |
(8) |
|
(11) |
|
(6) |
|
(20) |
Total |
2,290 |
|
2,408 |
|
2,426 |
|
3,386 |
na: not applicable.
-
Vivendi has fully consolidated Lagardère fromDecember 1, 2023 . - Net revenues, a non-GAAP measure, relates to Havas’s revenues less pass-through costs rebilled to customers.
APPENDIX III
|
|||
(in millions of euros) |
|
|
|
ASSETS |
|
|
|
|
9,963 |
|
11,249 |
Non-current content assets |
1,768 |
|
593 |
Other intangible assets |
3,388 |
|
1,751 |
Property, plant and equipment |
2,104 |
|
1,684 |
Rights-of-use relating to leases |
2,956 |
|
2,918 |
Investments in equity affiliates |
5,999 |
|
5,536 |
Non-current financial assets |
2,776 |
|
2,841 |
Deferred tax assets |
563 |
|
463 |
Non-current assets |
29,517 |
|
27,035 |
|
|
|
|
Inventories |
1,132 |
|
1,028 |
Current tax payables |
140 |
|
174 |
Current content assets |
977 |
|
1,276 |
Trade accounts receivable and other |
6,194 |
|
6,204 |
Current financial assets |
79 |
|
62 |
Cash and cash equivalents |
1,106 |
|
2,158 |
|
9,628 |
|
10,902 |
Assets of discontinued businesses |
6 |
|
314 |
Current assets |
9,634 |
|
11,216 |
|
|
|
|
TOTAL ASSETS |
39,151 |
|
38,251 |
|
|
|
|
EQUITY AND LIABILITIES |
|
|
|
Share capital |
5,665 |
|
5,664 |
Additional paid-in capital |
865 |
|
865 |
|
(260) |
|
(100) |
Retained earnings and other |
10,649 |
|
10,679 |
|
16,919 |
|
17,108 |
Non-controlling interests |
927 |
|
129 |
Total equity |
17,846 |
|
17,237 |
|
|
|
|
Non-current provisions |
858 |
|
783 |
Long-term borrowings and other financial liabilities |
2,949 |
|
2,233 |
Deferred tax assets |
1,586 |
|
712 |
Long-term lease liabilities |
2,534 |
|
2,498 |
Other non-current liabilities |
59 |
|
84 |
Non-current liabilities |
7,986 |
|
6,310 |
|
|
|
|
Current provisions |
405 |
|
381 |
Short-term borrowings and other financial liabilities |
3,010 |
|
3,830 |
Trade accounts payable and other |
9,173 |
|
9,624 |
Short-term lease liabilities |
590 |
|
570 |
Current tax payables |
124 |
|
104 |
|
13,302 |
|
14,509 |
Liabilities associated with assets of discontinued businesses |
17 |
|
195 |
Current liabilities |
13,319 |
|
14,704 |
|
|
|
|
TOTAL LIABILITIES |
21,305 |
|
21,014 |
|
|
|
|
TOTAL EQUITY AND LIABILITIES |
39,151 |
|
38,251 |
View source version on businesswire.com: https://www.businesswire.com/news/home/20240725451152/en/
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