The Limited Times

Now you can see non-English news...

Bolloré: activity and net profit up in the first half of the year, thanks to Vivendi and logistics activities

2021-07-30T17:00:37.203Z

The group congratulated itself on the “good results of all the activities”, the revenues of which exceeded their levels reached in 2020 and 2019.



The diversified group Bolloré saw its turnover increase by 10% and its net profit rise by 26% in the first half of the year despite the depreciation of certain investments held by its subsidiary Vivendi.

Read also: Bolloré multiplies the bridges between Canal + and Europe 1

Its turnover reached 12.8 billion euros and its net profit 219 million euros. In a press release published on Friday, the group is pleased with the

“good results from all activities”

, the revenues of which exceeded their levels reached in 2020 and 2019. Vivendi first recorded activity up 9% on a quarterly basis. year to 8.2 billion euros.

The devaluation of 170 million euros of its Spotify and Tencent Music Entertainment titles, the share price of which fell sharply over the first half of the year after a sharp increase in 2020, only affected the Bolloré group's result to the extent of its 29% stake in the media giant. The Transport and Logistics branch also grew by 13% to 3.2 billion euros, thanks in particular to “strong levels of activity in the maritime and air transport sectors”, which offset the decline in income from activities in Africa. Oil Logistics revenues increased 11% to € 1.2 billion. Finally, Electricity storage grew by 42% to 174 million euros thanks to the sale of batteries and buses (in particular to Daimler and RATP).The adjusted operating loss (Ebita) for its part fell by 25% to 50 million euros, the group citing

"The sharp rise in the costs of raw materials"

.

Decrease in debt

Thanks to the sale of an additional 10% stake in Vivendi to Chinese Tencent, the Bolloré group's net debt fell by € 2.3 billion to € 6.9 billion.

It should continue on this path following the detachment from Universal Music Group scheduled for September 21, a project that includes a new sale of 5 to 10% of UMG to financier Bill Ackman, and the reimbursement by the major of a debt of 2 billion euros to Vivendi.

At the end of this project, Bolloré will hold a stake of around 17% in UMG.

Source: lefigaro

All business articles on 2021-07-30

You may like

News/Politics 2021-08-02T20:33:06.811Z

Trends 24h

Latest

© Communities 2019 - Privacy