& cplSiteName &

Vivendi FY Profits Down 13.6%

Light Reading
News Wire Feed
Light Reading
2/26/2013
50%
50%

PARIS --
Vivendi 2012 earnings

  • Revenues: €28.994 billion, up 0.6% (-0.7% at constant currency) compared to 2011.
  • EBITA: €5.283 billion, down 9.8% (-10.7% at constant currency) compared to 2011. Activision Blizzard (+€138 million), GVT (+€92 million) and Universal Music Group (+€18 million) record excellent performances, in particular during the fourth quarter.
  • Adjusted Net Income: €2.550 billion, down 13.6% compared to 2011 mainly due to SFR’s lower EBITA.
  • Adjusted Net Income before impact of non-recurring items: €2.86 billion compared to an outlook of around €2.7 billion.
  • Earnings attributable to Vivendi SA shareowners: €164 million. These earnings are affected by non-recurring items having a negative impact: the reserve accrual regarding Liberty Media Corporation, -€945 million, and the impairment of Canal+ France, -€665 million.
  • Net debt: €13.4 billion, i.e. below the €14 billion tag announced.
  • Proposal to distribute a cash dividend of €1 per share. Commenting the 2012 annual results, Jean-François Dubos, Chairman of the Management Board, said: “Despite a challenging economic environment, all Vivendi subsidiaries reached their outlook in 2012. Faced with new market conditions and intense competition, some subsidiaries also reorganized their operations and put in place cost reduction programs. Activision Blizzard delivered an exceptional year thanks to a series of successful launches. SFR pursued the repositioning of its business model, including the implementation of a voluntary departure plan, in order to maximize its value, and stabilized its customer base. SFR was the first operator to offer the next generation 4G mobile network to both private customers and companies. Maroc Telecom group recorded strong growth in its international activities. GVT’s development was once again confirmed with its network expansion and a new pay-TV offer. Three major strategic transactions in content were successfully concluded in 2012: the acquisition of EMI Recorded Music reinforced Universal Music Group’s position as a worldwide leader in music; and Canal+ Group strengthened its position in free-to-air TV in France, and in Poland, consolidated its presence in pay-TV while entering the free-to-air market. These transactions are in line with Vivendi’s desire to strengthen its positions in media and content where Vivendi has all the assets needed to assert itself as a European-born, global leader. Our ongoing strategic review will define precisely, and as and when appropriate, the right paths to increase the group’s overall value and to best serve shareholder interests.” SFR
    SFR revenues amounted to €11,288 million, a 7.3% decrease compared to 2011 due to the progressive impact of price cuts related to the competitive environment and to price cuts imposed by the regulators. Excluding the impact of these regulatory decisions, revenues decreased by 3.3%. Mobile revenues amounted to €7,516 million, an 11.1% decrease compared to 2011. During the fourth quarter, SFR’s postpaid mobile customer base increased by 109,000 additions. At the end of 2012, SFR’s postpaid mobile customer base reached 16.563 million, stable compared to 2011. The customer mix (the percentage of the number of postpaid customers in the total customer base) amounted to 80.1%, a 2.9 percentage point increase year-on-year. SFR’s total mobile customer base reached 20.690 million. Mobile Internet usage continued to progress, with 49% of SFR customers equipped with a smartphone (41% at the end of 2011). SFR became the first French operator to open the 4G network to the mass market and enterprises. After Lyon on November 29, 2012, the 4G network was launched in Montpellier and Paris-La Défense. Four additional cities will open in the first half 2013. This offer includes the availability of a wide range of compatible equipment and is based on « Formules Carrées » packages. SFR also introduced a new pricing policy in January 2013 offering the best value/price ratio on the market both for its low-cost offers and its premium offers, the latter remaining the choice of the majority in the French market. Broadband Internet and fixed revenues10 amounted to €3,963 million, a 0.9% decrease compared to 2011, and a 0.3% increase excluding the impact of regulated price cuts. At the end of 2012, the postpaid broadband Internet residential customer base reached 5.075 million, with 56,000 net additions11 year-on-year. The customer base for the quadruple play offer (“Multi-Pack de SFR”) reached 1.8 million at the end of 2012. SFR’s EBITDA amounted to €3,299 million, a 13.2% decrease compared to 2011. Excluding negative and positive non-recurring items (-€15 million in 2012 and +€93 million in 2011), EBITDA decreased by 10.6%. EBITA amounted to €1,600 million, a 29.8% decrease. Excluding negative and positive non-recurring items and restructuring charges, EBITA decreased by 18.0%. In 2012, SFR launched an adaptation plan while continuing to invest in 4G and fiber infrastructures and adapt its organization to changing market conditions. In November, SFR announced a voluntary redundancy plan with a target of 856 net departures. For 2013, SFR expects EBITDA of close to €2.9 billion and Capex around €1.6 billion. Vivendi
    (0)  | 
    Comment  | 
    Print  | 
  • Newest First  |  Oldest First  |  Threaded View        ADD A COMMENT
    From The Founder
    Cisco's Conrad Clemson, recently promoted to head up the company's Service Provider Apps & Platforms developments, talks to Light Reading's Founder and CEO Steve Saunders about how he's bringing cloud video, mobile and virtualization together to empower network operators.
    Flash Poll
    Live Streaming Video
    Charting the CSP's Future
    Six different communications service providers join to debate their visions of the future CSP, following a landmark presentation from AT&T on its massive virtualization efforts and a look back on where the telecom industry has been and where it's going from two industry veterans.
    LRTV Interviews
    MWC 2017's Key 2-Letter Terms

    2|20|17   |   08:29   |   (1) comment


    5G, AI, VR... these are just some of the two-letter terms that will dominate show-floor chat at MWC 2017 in Barcelona, according to these two blow-hards (a.k.a. Scott Bicheno of Telecoms.com and Light Reading's Ray Le Maistre). And then there's PB...
    LRTV Interviews
    Key Trends for Mobile Operators in Developing Markets

    2|20|17   |   06:37   |   (0) comments


    Ovum's Matthew Reed talks to Scott Bicheno from Telecoms.com about the challenges and opportunities facing mobile operators in the developing markets of Africa and the Middle East.
    LRTV Documentaries
    YouTube Takes on Facebook Live-Streaming

    2|17|17   |     |   (0) comments


    Popular 'YouTubers' will be the first to get the new service on their smartphones. You have been warned.
    LRTV Custom TV
    Open Source NFV/SDN Automation

    2|17|17   |   05:54   |   (0) comments


    AT&T ECOMP (Enhanced Control, Orchestration, Management and Policy) code is transitioning into the Linux Foundation for placement into open source. In this video, Carol Wilson provides an update on the maturation of open source ECOMP and meets with industry leaders from AT&T, Bell Canada, Orange, Linux Foundation and Amdocs to discuss what this means for the ...
    LRTV Documentaries
    Uber & NASA Collaborate on Flying Car Project

    2|16|17   |     |   (0) comments


    Is Uber for real? Well, it's hired NASA engineer Mark Moore to lead the project, and he wouldn't come cheap.
    LRTV Documentaries
    Zuckerberg Tries Out the Oculus Rift VR Glove

    2|15|17   |     |   (0) comments


    Facebook CEO shows off a new way to interact with the Oculus Rift virtual reality headset: an Oculus glove.
    LRTV Custom TV
    Huawei Digital Transformation Forum 2017

    2|10|17   |     |   (0) comments


    Here's a preview of the upcoming Huawei Digital Transformation Forum taking place in Barcelona with trending telecom topics like cloud, IoT, 5G and much more!
    Telecom Innovators Video Showcase
    Dan Sahar of Qwilt on Open Edge Cloud Platform

    2|8|17   |   08:38   |   (0) comments


    Dan Sahar, Qwilt's co-founder, sits down with Steve Saunders of Light Reading for a conversation about Qwilt's Open Edge Cloud platform and the new role of service providers in application and content delivery.
    LRTV Documentaries
    ZeroStack's 'Self-Driving Cloud'

    2|7|17   |   01:09   |   (0) comments


    Its Z-Brain tech automates day-to-day management and long-term planning for hybrid clouds.
    Telecom Innovators Video Showcase
    Nominum's Craig Sprosts on DNS & Cybersecurity Trends

    2|7|17   |     |   (0) comments


    Nominum's Craig Sprosts talks about the fast-changing landscape of cybersecurity with Steve Saunders of Light Reading. Sprosts touches on the trend of the rise of ransomwares, rivals of IoT base attacks, and mobile network security. He also discusses the realization of the importance of IoT security after a recent cyber attack that paralyzed several major ...
    LRTV Documentaries
    China Moves Towards Mixed Ownership of Telcos

    2|1|17   |   01:10   |   (0) comments


    Chinese authorities are promoting new ownership models in order to raise capital.
    Shades of Ray
    What to Expect at MWC 2017

    1|31|17   |     |   (0) comments


    5G is set to dominate as the key buzz term at this year's Mobile World Congress but there are other pressing 4G matters to address.
    Upcoming Live Events
    March 21-22, 2017, The Curtis Hotel, Denver, CO
    March 22, 2017, The Curtis Hotel, Denver, CO
    March 22, 2017, The Curtis Hotel, Denver, CO
    May 15-17, 2017, Austin Convention Center, Austin, TX
    May 15, 2017, Austin Convention Center - Austin, TX
    June 6, 2017, The Joule Hotel, Dallas, TX
    All Upcoming Live Events
    Infographics
    With the mobile ecosystem becoming increasingly vulnerable to security threats, AdaptiveMobile has laid out some of the key considerations for the wireless community.
    Hot Topics
    T-Mobile CEO: M&A Coming but Not Quite Yet
    Dan Jones, Mobile Editor, 2/14/2017
    Is the Time Right for a Cisco/Ericsson Wedding?
    Ray Le Maistre, Editor-in-chief, 2/17/2017
    Nice to See at Least One CSP Taking My Advice
    Mitch Wagner, Editor, Enterprise Cloud, 2/17/2017
    Charter Launches 5G Field Trials
    Mari Silbey, Senior Editor, Cable/Video, 2/16/2017
    WiCipedia: Fintech Flexibility, Snap Missteps & Women of Wearables
    Eryn Leavens, Special Features & Copy Editor, 2/17/2017
    Like Us on Facebook
    Twitter Feed
    BETWEEN THE CEOs - Executive Interviews
    Light Reading founder and CEO Steve Saunders chats with Sportlogiq CEO Craig Buntin about sports data analysis.
    Eyal Waldman, CEO of Mellanox Technologies, speaks to Steve Saunders, CEO of Light Reading, for an exclusive interview about the 100 GB cable challenge, cybersecurity and much more.
    Animals with Phones
    Live Digital Audio

    Playing it safe can only get you so far. Sometimes the biggest bets have the biggest payouts, and that is true in your career as well. For this radio show, Caroline Chan, general manager of the 5G Infrastructure Division of the Network Platform Group at Intel, will share her own personal story of how she successfully took big bets to build a successful career, as well as offer advice on how you can do the same. We’ll cover everything from how to overcome fear and manage risk, how to be prepared for where technology is going in the future and how to structure your career in a way to ensure you keep progressing. Chan, a seasoned telecom veteran and effective risk taker herself, will also leave plenty of time to answer all your questions live on the air.