204
Annual Report -
2013
-
Vivendi
Financial Report
| Statutory Auditors’ Report on the Consolidated Financial Statements | Consolidated
Financial Statements | Statutory Auditors’ Report on the Financial Statements | Statutory Financial Statements
4
EBITA (Adjusted Earnings Before Interest and Income Taxes) and adjusted net income
II - Appendices to the Financial Report: unaudited
supplementary financial data
1.
EBITA (Adjusted Earnings Before Interest and Income Taxes)
and adjusted net income
Vivendi considers EBITA (Adjusted Earnings Before Interest and
Income Taxes) and adjusted net income, non-GAAP measures, to be
relevant indicators of the group’s operating and financial performance.
Vivendi Management uses EBITA and adjusted net income because
they illustrate the underlying performance of continuing operations
more effectively by excluding most non-recurring and non-operating
items. EBITA and adjusted net income are defined in Note 1.2.3 to the
Consolidated Financial Statements for the year ended December 31, 2013.
Adjustment of comparative information
As from the second quarter of 2013, in compliance with IFRS 5,
Activision Blizzard and Maroc Telecom Group have been reported
in Vivendi’s Consolidated Statement of Earnings as discontinued
operations. In practice, income and charges from these two businesses
have been reported as follows:
their contribution until the effective sale, if any, to each line
of Vivendi’s Consolidated Statement of Earnings (before non-
controlling interests) has been grouped under the line “Earnings
from discontinued operations”; and
their share of net income has been excluded from Vivendi’s adjusted
net income.
Moreover, as of January 1, 2013, Vivendi applied, with retrospective
effect from January 1, 2012, amended IAS 19, whose application is
mandatory in the European Union beginning on or after January 1, 2013
(please refer to Note 1 to the Consolidated Financial Statements for the
year ended December 31, 2013).
As a result, the 2012 Financial Statements and the first quarter of 2013 Financial Statements were adjusted, as the case may be, as presented below:
(in millions of euros, except per share amounts)
2012
Three months
ended
March 31,
Three months
ended
June 30,
Six months
ended
June 30,
Three months
ended
September 30,
Adjusted earnings before interest and income taxes (EBITA)
(as previously published)
1,621
1,316
2,937
1,394
Reclassifications related to the application of IFRS 5 for Activision Blizzard
-395
-177
-572
-182
Reclassifications related to the application of IFRS 5 for Maroc Telecom Group
-273
-190
-463
-266
Adjustments related to the application of amended IAS 19
Selling, general and administrative expenses
+2
+2
+4
+2
Adjusted earnings before interest and income taxes (EBITA) (restated)
955
951
1,906
948
Adjusted net income (as previously published)
823
706
1,529
665
Reclassifications related to the application of IFRS 5
-272
-134
-406
-194
Adjustments related to the application of amended IAS 19
Selling, general and administrative expenses
+2
+2
+4
+2
Provision for income taxes
-
-
-
-
Adjusted net income (restated)
553
574
1,127
473
Adjusted net income per share (as previously published)
0.64
0.55
1.19
0.51
Adjusted net income per share (restated)
0.43
0.45
0.88
0.36
