Committee meeting minutes
Committee meeting minutes
The Committee meets three times per year. One meeting is held after the first half-yearly results and another before the General Shareholders’ Meeting, an occasion devoted to dialogue between the group and its individual shareholders. The Committee also attends the General Shareholders’ Meeting.
Vivendi Shareholders’ Committee Meeting of March 15, 2019
Presentation of the 2018 annual results
Solange Maulini, Vivendi’s Vice President, Shareholder Relations and Press Director, opened the meeting by presenting the Group’s good performance in 2018: sales and EBITA rose by + 11.3% (+4.9% at constant rates and perimeter) and 33.0% (+ 4.7% at constant rates and perimeter), respectively.
She gave a detailed overview of the positive evolution of each of Vivendi’s business units then commented on the cash position which stood at €176 million as of December 31, 2018, compared to net debt of €2,340 million euros as of December 31, 2017. She explained that this evolution resulted from the strong cash generation of the Group’s main businesses (Group CFFO up 13.8%) and the proceeds from the sale of equity interests (Ubisoft, Fnac Darty and Telefonica) for €2.2 billion.
Ms. Maulini also indicated that a dividend of €0.5 per share, up 11.1%, would be proposed to the General Shareholders Meeting on April 15, 2019, and explained the various resolutions on the agenda for the AGM.
She concluded her presentation by responding to the Committee’s questions, particularly about the process of opening up UMG’s share capital that is underway.
Presentation of the film on the Shareholders Information Department
The Shareholders’ Committee previewed a film about the services offered by Vivendi’s Shareholders Information Department. The members expressed their appreciation and made suggestions.
Laurence Daniel, Vice President, Mergers & Acquisitions gave an overview on Editis, the second largest French publisher that was recently acquired by Vivendi, by
In particular, she described the activities of the company’s Literature, Tourism/Practice, Youth and School Books businesses as well as the Logistics/Distribution business.
Ms. Daniel also explained the terms of Vivendi’s purchase of Editis and the strategy behind this acquisition.
Interview with Stéphane Roussel
Stéphane Roussel, a member of Vivendi’s Management Board, and Chief Operating Officer, and the Chief Executive Officer of Gameloft commented on the latest news about the Group and each of its businesses.
He recalled the strong growth of Universal Music Group’s revenues, driven by its streaming activities and explained the process of opening up UMG’s share capital. He commented on the characteristics and developments of each of the Group’s businesses as well as the long-term investment in Telecom Italia.
Pascal Sontag, the Communication Director of the mobile video game publisher, provided the Shareholders’ Committee with insight into each of Gameloft’s business lines before answering questions.
The meeting ended with a friendly lunch with the shareholder relations team.