Vivendi Q1 up, still exploring split
April 29, 2024
Vivendi is still exploring a stock split, as it posted Q1 revenues up significantly. Vivendi posted quarterly revenues of €4.28 billion up 5.4 per cent year-on-year. No earnings were revealed in the unaudited numbers.
Canal+ saw revenues grow 4.3 per cent year-on-year to €1.5 billion. International revenues were up 5.8 per cent thanks to subscriber growth, particularly in Africa, where Canal+ has been buying up shares in MultiChoice and looks set to take it over. Studiocanal saw revenues decline compared with 2023.
Social video platform Dailymotion increased revenues by 24.8 per cent, with the ‘New Initiatives’ division it contains posting €42 million in revenues overall.
The Paris-based company believes its stock price has been “substantially” reduced due to the consolidated nature of its media operations following the listing of Universal Music Group and wants to split its business.
Having already outlined a plan to explore dividing pay-TV giant Canal+, ad firm Havas and publisher Lagadère, Vivendi said a feasibility study into a stock split had been going since December 2023.
Yannick Bolloré, Chairman of Vivendi’s Supervisory Board, and Arnaud de Puyfontaine, Chairman of Vivendi’s Management Board, said in a statement: “Today we are publishing a particularly sharp increase in revenues for a first quarter. This reflects the strength of our three core businesses and the Group’s ability to transform and grow. organic growth of 5.4 per cent compared to the first quarter of 2023 was notably driven by the significant contribution of Lagardère, validating the relevance of the transaction with this group last November and our confidence in the potential of its activities. Canal+ Group and Havas also delivered solid performances, with increases in reported revenues of 4.3 per cent and 6.2 per cent, respectively, over the same period.”