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V
ivendi is now writing a new page in its history. The holding company of
yesterday that managed financial interests in various businesses has today
been replaced by an integrated industrial group in media and content that
values the potential of all creative talent.
Initiated more than two years ago, the repositioning of Vivendi was completed in
2014 with the disposal of our three telecommunications assets: Maroc Telecom,
SFR and GVT. To facilitate the distribution of our content, however, we are retaining
minority stakes in certain markets and remain open to industrial partnerships with
other distribution platforms.
These three strategic disposals, made under satisfactory financial conditions,
allowed Vivendi to erase its debt and restore its financial flexibility. Our net debt
position of over €11 billion as of December 31, 2013, shifted to a net cash position
of €4.6 billion as of December 31, 2014, before finalization of the GVT sale (planned
for the second quarter of 2015) and the anticipated return to our shareholders.
The proceeds from these three disposals are specifically intended to give Vivendi
new resources to expand in media and content. By 2014, the group already
consolidated its positions in TV, film and music. In pay-TV, Canal+ continues to
grow in France, where the SVoD (Subscription Video-on-Demand) service Canalplay
has 600,000 pay subscribers, as well as in Africa, where A+, a new 100% African
channel was launched in approximately 20 countries. Free-to-air TV also recorded a
solid performance, supported by the audiences of D8, which is confirming its status
as a leader in DVB. The year 2014 was particularly prosperous for Studiocanal,
with the large box-office success of movies such as
Non-Stop
and
Paddington
.
Finally, Universal Music Group (UMG), now more than ever the world leader
in recorded music, posted excellent album sales in 2014, from Taylor Swift to
Stromae, and the original soundtrack of the Disney movie
Frozen
.
€10,089
*
million
* Excludes GVT
Revenues
€999
*
15,571
*
Employees
67
countries
Present in
Management Message
Management
message
2014 was a year that was full of changes for Vivendi, which successfully managed the shift toward
refocusing its goals. Reconfigured and free of debt, a new integrated industrial group is emerging
with a clear ambition to become the European champion in media and content.
“We are
confident in
Vivendi’s ability
to win over the new
media consumers
of the 21 century.”
million
EBITA
02
Annual Report 2014