& 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
    Masergy: Ability to Adapt Key for NFV

    1|16|17   |   6:40   |   (0) comments


    Speaking at Light Reading's 2020 Vision in Rome, Masergy's VP, Global Technology, Ray Watson, said agility is key to providing the mix and match NFV-based services that are driving business for the managed service provider today.
    LRTV Interviews
    Equinix: The Data Explosion

    1|13|17   |   4:16   |   (0) comments


    At Light Reading's 2020 Vision in Rome, Eric Schwartz, president of EMEA, Equinix, talked about how Equinix is helping its customers manage the influx of data today, and how it's preparing for a future filled with millions of connected IoT devices.
    LRTV Interviews
    Heavy Reading: The Changing Data Center Landscape

    1|12|17   |   6:05   |   (1) comment


    At Light Reading's 2020 Vision event in Rome, Heavy Reading's Senior Analyst Roz Roseboro talks about how virtualization is impacting data center evolution and how that evolution is affecting the relationship between service providers, data center operators and public cloud providers.
    LRTV Interviews
    Boingo: Prepping for Millions of Devices

    1|12|17   |   5:07   |   (1) comment


    At Light Reading's 2020 Vision in Rome, Boingo's CTO Derek Peterson discusses how wireless operators will address the needs of low-bandwidth and high-bandwidth apps at the same time, the need for more MHz, the impact of IoT and more.
    LRTV Interviews
    Comcast Shows Off Gig Gateway at CES

    1|11|17   |     |   (1) comment


    With its largest presence at CES in years, Comcast took the wraps off its long-awaited gigabit gateway and a new platform for managing the home WiFi network. Light Reading Senior Editor Mari Silbey sat down with EVP Chris Satchell to discuss the latest Comcast advance, and met with VP of Product Strategy and Development Andrea Peiro to walk through a demo of the ...
    LRTV Interviews
    Colt: End-to-End Key for 2017

    1|10|17   |   6:21   |   (0) comments


    At Light Reading's 2020 Vision Executive Summit in Rome, Nico Fischbach of Colt said having a multi-carrier, end-to-end service proposition is going to be key for 2017 -- and SD-WAN is instrumental in making it happen.
    From the Founder
    Cisco's Clemson on Mobile Cloud Video

    1|9|17   |     |   (1) comment


    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. "If you think about where we're going… whether it's a mobile application, or a video ...
    LRTV Custom TV
    VMware Telco NFV Solutions – Preparing for 5G & IOT

    1|9|17   |     |   (0) comments


    Shekar Ayyar, EVP & Corporate Strategy/General Manager of Telco for VMware, discusses VMware's Telco NFV solutions role and foundation for the Imminent Arrival of 5G & IOT.
    LRTV Interviews
    Heavy Reading: Big Video Set to Disrupt

    1|6|17   |   4:39   |   (0) comments


    At Light Reading's 2020 Vision Executive Summit in Rome, Heavy Reading's Adi Kishore talks about the challenges of managing and monetizing bandwidth-intensive video, and how service providers will need to transform their networks to cope with the big video explosion.
    LRTV Interviews
    Heavy Reading: IoT Set to Disrupt

    1|5|17   |   7:07   |   (0) comments


    Heavy Reading's Senior Analyst of IoT, Steve Bell, tells Light Reading how the Internet of Things (IoT) will transform service provider markets, business models and mindsets, and how virtualizing the network core and Fog networking is key to meeting the agility and flexibility demands of IoT in the future.
    LRTV Custom TV
    Ensemble SmartWAN Explained

    1|5|17   |     |   (0) comments


    Ray Le Maistre and Prayson Pate, CTO of the Ensemble division at ADVA Optical Networking, discuss the details around the recent Ensemble SmartWAN announcement from ADVA and its potential impact on the SD-WAN movement as it goes virtual.
    LRTV Interviews
    Telstra Shares Digital Dos & Don'ts

    1|4|17   |   3:21   |   (0) comments


    At Light Reading's 2020 Vision Executive Summit in Rome, Telstra's Managing Director of EMEA Tom Homer shares his insight into what makes a good partner in today's digital world.
    Upcoming Live Events
    May 15-17, 2017, Austin Convention Center, Austin, TX
    All Upcoming Live Events
    Infographics
    Hot Topics
    Ericsson: 5G Heralds 'New' New Economy
    Mari Silbey, Senior Editor, Cable/Video, 1/12/2017
    5G: Another Next-Generation Disappointment?
    Iain Morris, News Editor, 1/10/2017
    CES 2017: WIC's Picks & What Made Us Sick
    Sarah Thomas, Director, Women in Comms, 1/10/2017
    IBM, FDA Look to Blockchain to Secure Health Records
    Scott Ferguson, Editor, Enterprise Cloud, 1/12/2017
    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.