Vivendi: Results for the First Nine Months of 2013. Full Year Outlook Confirmed
November 14, 2013
Note to readers: This press release contains unaudited consolidated earnings established under IFRS which were approved by Vivendi’s Management Board on November 14, 2013.
Vivendi: Results for the First Nine Months of 2013
Full Year Outlook Confirmed
- Revenues (1): €16.190 billion, up 1.0% at constant currency (-1.0% at actual currency) compared to the first nine months of 2012. In the third quarter, revenues were up 3.4% at constant currency (stable at actual currency) compared to the third quarter of 2012.
- EBITA (1,2): €2.121 billion, down 23.8% at constant currency (-25.7% at actual currency) compared to the same period in 2012, mainly attributable to SFR. However, Universal Music Group recorded a strong increase in EBITA (+46.8% at constant currency) in the third quarter 2013.
- Adjusted Net Income (3): €1.248 billion, down 22% compared to the same period in 2012.
- Adjusted financial net debt: €7.2 billion, including the disposal of the first tranche of the Activision Blizzard stake (completed on October 11), the acquisition of the Canal+ France 20% stake (completed on November 5) as well as the disposal of the Maroc Telecom stake, completion expected early 2014 upon terms announced.
- Full Year Outlook confirmed for all the group’s activities.
- Studies continue prior to the group’s de-merger.
(1) 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 to each line of Vivendi’s Consolidated Statement of Earnings (before non-controlling interests) has been grouped under the line “Earnings from discontinued operations”.
– In accordance with IFRS 5, these adjustments have been applied to all periods presented to ensure consistency of information.
– Their share of net income has been excluded from Vivendi’s adjusted net income.
(2) For more information about EBITA, see Appendix IV.
(3) For the reconciliation of earnings attributable to Vivendi SA shareowners to adjusted net income, see appendix IV.