Vivendi: decline in net profit in the first quarter despite a rebound in activities

The Vivendi group on Wednesday posted a net profit of 488 million euros in the first half, down 35.5%, reflecting the decline in its stakes in Spotify and Tencent Music Entertainment, but the French media giant displays activities at the same time. growing.

Read also: Vivendi becomes the first shareholder of the new Lagardère

Vivendi's sales for the first half reached 8.2 billion euros, up 8.5%. The major Universal Music Group saw its revenues increase by 10.7% to 3.8 billion euros, the Canal + group rose 4.1% to 2.8 billion euros, the advertising subsidiary Havas by 2.9 % to 1 billion euros and the Editis publishing group jumped 42% to 372 million euros. Editis even exceeded its sales for the first half of 2019 by 20.5% at constant exchange rates and perimeter: a "

" and allows the group to generate a positive adjusted operating income (10 million euros), specifies Vivendi.

Only the video game subsidiary GameLoft slowed down with an 8.1% drop in revenues to 120 million euros. The group's adjusted operating profit (Ebita) increased by 45% to € 1 billion. Above all, Vivendi is pleased to see its net financial debt reduced to 2.9 billion euros, against nearly 5 billion at the end of 2020. Vivendi even expects a very positive net cash position of more than 2.4 billion euros after the sale. expected from an additional UMG stake, as part of a project approved on June 22 by shareholders, aimed at detaching the major on September 21 and listing it on the stock market.

"

," explains the group controlled by Vincent Bolloré in its press release.