PARIS (dpa-AFX) - Vivendi SA (VIV.L, VIVEF.PK) reported that its earnings attributable to shareowners for fiscal year 2018 dropped to 127 million euros or 0.10 euros per share from 1.22 billion euros or 0.94 euros in the prior year.
The fiscal year 2018 result included the write-down of the value of the Telecom Italia shares for 1.066 billion euros but did not include the 1.160 billion euros capital gain on the sale of the interest in Ubisoft, recognized in equity (of which, only 53 million euros was recorded in the Statement of Earnings).
Adjusted net income were 1.157 billion euros or 0.91 euros per share down from 1.30 billion euro s or 1.00 euros per share in the prior year. Excluding the favorable non-recurring tax impacts recorded in 2017, adjusted net income in 2018 would have been up 33.6% compared to 2017.
EBITA amounted to 1.288 billion euros, compared to 969 million euros in 2017, an increase of 33.0%, notably resulting from the consolidation of Havas (+104 million euros ). At constant currency and perimeter, EBITA increased by 240 million euros (+24.7%), driven by the growth of Universal Music Group (+168 million euros) and Canal+ Group (+98 million euros), which continues its recovery in France.
Revenues amounted to 13.93 billion euros, compared to 12.518 billion euros in 2017, an increase of 11.3%, notably as a result of the consolidation of Havas. At constant currency and perimeter, Vivendi's revenues increased by 4.9% compared to 2017.
Vivendi said it is confident in the evolution of its main businesses in 2019. As regards Canal+ Group, after a strong improvement in its profitability in 2018, it will continue its improvement efforts and its 2019 profitability is expected to be even better than it was on 2018.
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