Vivendi Revenue Rises, Boosted by Strong Growth Across Core Businesses
The French media group said revenue for the first quarter rose 5.4%
Vivendi VIV 0.86%increase; green up pointing triangle said first-quarter revenue rose, boosted by strong growth at its three core businesses, Canal+ Group, Lagardere MMB 0.15%increase; green up pointing triangle and Havas.
The French media group said Monday that revenue for the period rose 5.4% at constant currency and perimeter to 4.275 billion euros ($4.57 billion) from EUR2.29 billion euros, driven by the consolidation of Lagardere as well as revenue growth at Canal+ Group and Havas.
Vivendi is in the process evaluating a break-up into four businesses that would be structured around its Canal+ television unit, its Havas advertising business, a company grouping its publishing and distribution assets including recently acquired Lagardere, and an investment company.
Canal+ revenue grew 2.6% at constant currency and perimeter to EUR1.54 billion in the first three months of the year, with revenue at its TV operations in mainland France increasing 5.1%, or 3.5% at constant currency and perimeter, driven by growth in the subscriber base and average revenue per user. International operations revenue rose 5.8%, or 4.1% at constant currency and perimeter, reflecting continued growth in the subscriber base, particularly in Africa.
Net revenue at Havas rose 4.8% to EUR617 million, or 2.0% on an organic basis, one of the strongest growth rates in the communications sector and confirming its operating momentum, the company said.