Canal+ proprietor Vivendi continues to be exploring a inventory break up, because it immediately posted first quarter revenues up considerably.
France-based Vivendi posted Q1 revenues of €4.28B ($4.6B), up 5.4% on 2023’s numbers when utilizing fixed currencies and and the companies the agency owns immediately. No earnings had been revealed within the unaudited numbers.
Inside these numbers, Canal+ noticed revenues develop 4.3% year-on-year to €1.5B (+3.5% at fixed foreign money and perimeter). Worldwide revenues had been up 5.8% because of subscriber progress, notably in Africa, the place Canal+ has been shopping for up shares in MultiChoice and appears set to take over the South African large. Mainland France TV operations income was up over 5%.
Nevertheless, Studiocanal noticed revenues decline in contrast with 2023, when the likes of Alibi.com 2 and John Wick 2 had vital home and worldwide launches.
Different notable performances noticed social video platform Dailymotion improve revenues by 24.8%, with the ‘New Initiatives’ division it’s housed in posting €42M in revenues general.
This financials come amid a interval of company soul-searching at Vivendi, and following the takeover of writer Lagadère in November final yr.
The Paris-based firm believes its inventory worth has been “considerably” diminished because of the consolidated nature of its media operations following the itemizing of Common Music Group and desires to separate its enterprise.
Having already outlined a plan to discover dividing pay-TV and content material large Canal+, advert agency Havas and writer Lagadère, Vivendi mentioned a feasibility research right into a inventory break up had been going since December 2023. The corporate says all three items are individually performing properly — with every posting year-on-year income progress immediately — and have been hindered of their skill to speculate by the “excessive conglomerate low cost” on its shares.
The present plan is for Canal+, Havas and a publishing and distribution division would all checklist as unbiased entities on the inventory market. Vivendi would additionally stay publicly listed “sustaining its position of supporting the transformation and enlargement of its subsidiaries and persevering with to actively handle its investments.”
Ought to the Vivendi board approve the break up, worker representatives at every new entity could be engaged earlier than obligatory regulatory, bonder holder and different lender approvals is sought. A closing vote would then happen on the AGM in April 2025 to ratify the strikes.
Yannick Bolloré, Chairman of Vivendi’s Supervisory Board, and Arnaud de Puyfontaine, Chairman of Vivendi’s Administration Board, mentioned in a press release: “At this time we’re publishing a very sharp improve in revenues for a primary quarter. This displays the energy of our three core companies and the Group’s skill to remodel and develop.
“The natural progress of 5.4% in comparison with the primary quarter of 2023 was notably pushed by the numerous contribution of Lagardère, validating the relevance of the transaction with this group final November and our confidence within the potential of its actions. Canal+ Group and Havas additionally delivered strong performances, with will increase in reported revenues of 4.3% and 6.2%, respectively, over the identical interval.”