Vivendi

Marie-Pierre Peillon, Head of Financial and Extra-Financial Research, Groupama AM (ASDR 2008)

« Sustainable development is an integral part of our approach to investment analysis and choice at Groupama AM. In our financial and extra-financial analysis division, specialized two-person teams in each sector pool their research efforts to forge a common position that is the foundation of our investment recommendations.
The knowledge that at Vivendi, ESG risks give rise to responses that will fully inform strategy provides a precious level of comfort for any financial analyst. Sustainable development topics are directly taken into consideration in analyzing accounts:

• revenue generation can be directly impacted. At Vivendi, more specifically, the group’s action plans in the areas of protecting youth who play games, promoting cultural diversity, and the struggle against piracy need to be studied. Good management of acquisitions (Neuf Cegetel, Activision) is key and enables anticipation of the potential for client retention and development in the entities acquired;
• profitability forecasts are also enriched by qualitative analysis of management reorganisation. Vivendi’s style in this area is rapid and structural, even though on a group level, there is still potential for optimization of the Human Resources tool.
  Groupama AM’s choice of integrating SRI criteria, then, is a strongly differentiating approach in which financial and extra-financial analysts, informed by complementary spheres of influence, endeavor to come to a global understanding.»