During the 2023, Vivendi has registered a turnover total of 10.510 million euros, with a growth of 9,5% compared to the previous year. This notable increase was primarily driven by the Canal + Group (+188 million euros) and Havas (+107 million euros). Furthermore, he significantly affected the incorporation of Lagardère starting December 1, 2023, which added a further €670 million to annual turnover. Meanwhile, Vivendi, the main shareholder of Tim, Has devalued its stake in the Italian group of 1,347 billion euros, according to the 2023 financial report. Vivendi holds 23,7% of the capital of Telecom Italia and has changed the way in which it records this stake, moving from the equity method to an approach based on market value. This means that he now considers his stake in Tim as a financial investment, the value of which is influenced by the market and the telco's performance.
Looking at the recent situation, during the presentation of new business plan of the Italian operator, a surprising situation occurred: an exchange of over 2 billion shares which led to a sharp decrease in the title, with a drop of almost 24%. However, today started with an upward trend, the stock showing an increase of 3,6% to Business Square. On the contrary, Vivendi saw a decline of more than 4% in Paris.
Vivendi's accounts for 2023
Considering constant exchange rates and perimeters, Vivendi's revenue increased by 2,6% compared to 2022. This growth was mainly driven by the positive performance of Groupe Canal+ (+2,9%) and Havas (+4,3, XNUMX%).
Moving on to adjusted operating profit (ebitda), in 2023 it reached 934 million euros, showing an increase of 7,5% compared to the previous year. This value includes the share in the net profit of the operating affiliates of Universal Music Group (Umg) for 94 million euros (124 million euros in 2022) and of Lagardère for 125 million euros until 30 November 2023 (98 million euros in 2022).
Net of this portion, theebitda was 715 million euros, an increase of 10,6% compared to 2022. This increase was mainly driven by the growth of Havas (+24 million euros) and Canal + Group (+10 million euros), in addition to the significant improvement in the results of Vivendi Village (+19 million euros).
EBITDA also reflects the impact of Lagardère's consolidation starting December 1, 2023, which contributed €20 million. At constant rates, EBITDA increased by 11,7% compared to 2022. Excluding the share in the net profit of operating affiliates, EBITDA grew by 12,1%.
I proceeds da investments financial in 2023 they were 81 million euros, with dividends from FL Entertainment for 29 million euros, from MediaForEurope for 28 million euros (unchanged compared to 2022) and from Telefonica for 18 million euros (unchanged compared to 2022).
Le other expenses and net financial proceeds represented a net expense of 158 million euros in 2023, compared to net spending of 952 million euros in 2022. Finally, the adjusted net income in 2023 it was 722 million euros, an increase of 110% compared to 2022.
Comments
“We are pleased to have been able to complete the combination with Lagardère – said the chairman Yannick Bolloré – This operation has allowed us to become the third largest publishing group in the world, number one in France and number two in the United Kingdom, as well as a world leader in travel retail. On an annual basis, this combination between Vivendi and Lagardère would represent pro forma revenues of €18 billion in 2023 (€16,5 billion in 2022). Our group today has around 73 thousand employees, of which 36 thousand at the Lagardère group".
“The feasibility study of the project split of the company in four entities listed on the stock exchange, announced last December, continues – continued Bolloré -. This project, if implemented, would create value for all the group's stakeholders and would allow the creation of independent pure players equipped with the human resources and financial flexibility necessary to undertake their growth path in an international context characterized by numerous investment opportunities.
Arnaud de Puyfontaine, Chairman of the Board of Directors of Vivendi, added: “Vivendi's results in 2023 reflect the financial strength of its main sectors and their ability to adapt and structurally transform to their environment.” And regarding the current year he said: “The first months of 2024 confirm the continued positive direction of the activities of our main entities”.
