Half Year 2024 Vivendi SE Earnings Call Transcript
Key Points
- Vivendi SE (VVVNF) reported excellent revenues of EUR9 billion, up 5.8% at constant currency and perimeter.
- EBITA increased significantly by 13.5% at constant currency and perimeter, showcasing strong operational performance.
- Canal+ expanded its international presence by increasing its stake in Viu and launching a mandatory offer for MultiChoice Group shares.
- Havas launched a new strategic plan named Converged, involving a EUR400 million investment in technology, data, and AI over the next four years.
- Lagardère Group posted double-digit growth, with strong performance in its Travel Retail and Publishing divisions.
- Net earnings group shares decreased by 8.3% to EUR159 million, mainly due to a EUR95 million settlement of a 24-year-old litigation.
- Vivendi SE (VVVNF) experienced a sharp deterioration in organic growth at Havas between Q1 and Q2, partly due to the partial loss of a major client in the US.
- The net debt increased from EUR2.8 billion to EUR3.9 billion, driven by investments in MultiChoice, Viaplay, and Viu, as well as share buybacks.
- Gameloft's performance was negatively impacted by restructuring costs and seasonality, with most profits expected in the second half.
- The share price decreased due to market reactions to Universal Music Group's Q2 results, despite a 20% increase since the split project announcement in December.
Good evening, everyone. And welcome to the Vivendi half-year 2024 earnings presentation. This conference call will be hosted by Mr. Arnaud de Puyfontaine, Chairman of the Management Board and CEO; and Mr. François Laroze, Member of the Management Board and CFO. As a reminder, this call is being recorded. (Operator Instructions)
I would now like to turn the call over to Mr. Arnaud de Puyfontaine. Please go ahead, sir. Your line is open.
Thank you very much. And hello, everyone. Welcome. And thank you for joining us for the Vivendi 2024 first half earnings presentation.
Before handing over to François, I would like to highlight the robustness of our results with excellent revenues of EUR9 billion, up 5.8% at constant currency and perimeter. Our EBITA also increased significantly plus 13.5% at constant currency and perimeter. This performance confirms our group's momentum. It places our entities in the best possible position to embark on the next
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