Page 367 - 2012 Annual Report

SECTION3 STATUTORYAUDITORS’ REPORT ONEBITAOR EBITDA FORECASTSBYBUSINESSUNIT
To the Chairman of the Management Board,
In our capacity as statutory auditors and in accordance with
EU Regulation 809/2004, we hereby report on EBITA or EBITDA
forecasts by business unit of the Vivendi group, which is included in
Chapter 5 Section 2 of the registration document filed with the French
stock exchange regulatory body (AMF) on March 18, 2013.
In accordance with EU Regulation 809/2004 and the relevant ESMA
guidance, you are responsible for the preparation of these forecasts and
its principal underlying assumptions.
It is our responsibility to express our conclusion, pursuant to Appendix 1,
paragraph 13.2 of the EU Regulation 809/2004, as to the proper
compilation of the forecasts.
We have performed those procedures which we considered necessary in
accordance with professional guidance issued by the national auditing
body (Compagnie Nationale des Commissaires aux Comptes) relating to
this engagement. Our work consisted in an assessment of the preparation
process for the forecasts, as well as the procedures implemented
to ensure that the accounting methods applied are consistent with
those used for the preparation of the historical financial information
of the Vivendi Group. We also gathered all the relevant information
and explanations that we deemed necessary to obtain the assurance that
the forecasts have been properly compiled on the basis stated.
It should be noted that, given the uncertain nature of forecasts, the actual
figures are likely to be significantly different from those forecasts and that
we do not express a conclusion on the achievability of these figures.
We conclude that:
✱ EBITA or EBITDA forecasts by business unit have been properly
compiled on the basis stated;
✱ the accounting methods applied in the preparation of EBITA or
EBITDA forecasts by business unit are consistent with the accounting
principles adopted by the Vivendi Group.
This report is issued for the sole purpose of filing the registration document
with the French stock exchange regulatory body (AMF) and, if applicable,
of a public offering in France and other European Union countries in which
a prospectus, comprising the 2012 registration document, as approved by
the AMF, would be published, and may not be used for any other purpose.
Paris-La Défense, March 18, 2013
The Statutory Auditors
French original signed by
KPMG Audit
Member of KPMG S.A
ERNST & YOUNG et Autres
Frédéric Quélin Jean-Yves Jégourel
367
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VIVENDI l 2012 l Annual Report
RECENT EVENTS – OUTLOOK – STATUTORY AUDITORS’ REPORT 5
SECTION 3 - STATUTORY AUDITORS’ REPORT ON EBITA OR EBITDA FORECASTS BY BUSINESS UNIT