As a dedicated fan and follower of the media industry, particularly European media conglomerates, I am thrilled to share my excitement over Vivendi’s impressive first-half financial results for 2024. With revenues reaching €9.05 billion ($9.8 billion), an increase of 5.8% year-on-year, and a staggering 98.4% spike in second-quarter revenues, it’s clear that Vivendi is on the rise.
Vivendi, the parent company of French pay TV banner Canal+ Group, saw its 2024 first-half revenues reach €9.05 billion ($9.8 billion), a 5.8% year-on growth. The media conglomerate also posted a 98.4% spike in second-quarter revenues.
Last year, Vivendi, the media, publishing, and travel retail company which includes Lagarderre and Canal+ Group, experienced revenue growth. Vivendi reported an EBITA of $671 million, a 39.3% increase from the first half of 2023. This growth can be attributed to the merger of Lagardere and the expansion of Havas. When considering constant currency and scope, EBITA rose by 13.5%. The adjusted net income reached $357 million.
The earnings of Canal+ Group rose by 4.6% to reach $3.2 billion, primarily driven by the success of its TV businesses in France and abroad. Additionally, revenues for Canal+’s film and TV production company, Studiocanal, grew by an impressive 8.6%. This growth can be attributed in part to the global sales of “Back to Black,” the Amy Winehouse biopic, which was released on April 24.
As a movie enthusiast, I’m excited to share that under my CEO and chairman Maxime Saada’s visionary leadership, Canal+ has amplified its involvement in Viaplay, Scandinavia’s popular pay TV platform, by acquiring a 29.33% stake, making us the largest shareholders. Moreover, we’ve expanded our reach into Senegal by investing in Marodi TV, a leading local production company. On top of that, we’ve extended an offer to purchase MultiChoice Group’s African service, adding more depth to our growing media empire.
Asia is also part of Canal+’s international expansion plans. The company has increased in the leading Asian OTT service Viu to 36.8% and is now looking to have it go up to 51%.
In France, Canal+ Group has recently acquired OCS, a pay-TV package, and Orange Studio, the film and series production subsidiary. As part of these new editorial initiatives, they have established Studiocanal Stories, a label dedicated to producing films and TV shows based on literary works in France and various European countries. Moreover, Canal+ Group continues to forge partnerships with major U.S. companies like Warner Bros. Discovery, signing a distribution deal that allows their streaming service Max access to Canal+ content.
Vivendi’s board of directors announced new plans for the company’s division into three distinct businesses and public listings. According to present arrangements, Canal+ is slated for listing at the London Stock Exchange, Havas at Euronext Amsterdam, while a third entity, which will encompass publishing and distribution including Louis Hachette Group, will be listed on Euronext Growth Paris. Vivendi itself will continue to trade on Euronext Paris.
Vivendi announced that both Canal+ and Havas will keep their management teams in Paris and continue to be subject to French corporate income tax as French tax residents.
Yannick Bolloré, Vivendi’s Supervisory Board chairman, mentioned that the company’s first-half earnings were primarily fueled by the strong performance of its top three business sectors. These areas led to an approximately 6% increase in organic revenue and a robust 13.5% growth in organic EBITA.
Arnaud de Puyfontaine, CEO of Vivendi, added that its different businesses have shown robustness, not just in expanding on their own and through acquisitions, but also in the soundness of their individual business models and their capacity to adjust and respond to their surroundings and customer demands. The company is now focusing on fortifying its presence in international markets.
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2024-07-25 22:17