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Vivendi reports flat sales, lower profit in Q3
2013-11-15 08:59:00| Telecompaper Headlines
(Telecompaper) French media and telecom group Vivendi reported EUR 5.35 billion of revenue in the third quarter, compared to EUR 5.34 billion in the third quarter of 2012. Sales were driven by 18.5 percent growth to EUR 1.16 billion at Universal Music and a 6.8 percent increase to EUR 1.26 billion at Canal Plus, offset by lower sales at its other core operations, French operator SFR and Brazilian operator GVT. Group EBITA decreased 27.9 percent to EUR 587 million from EUR 814 million. Only Universal Music saw EBITA growth, of 36.6 percent to EUR 112 million, while EBITA at SFR declined by 37.8 percent to EUR 334 million. Vivendi's adjusted net profit fell by 14.8 percent to EUR 403 million from EUR 473 million. The group confirmed its annual targets and said it would continue looking at splitting its telecom and media assets.
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Category:Telecommunications