Vivendi Reports Full-Year Results and Provides Update on Split Project

Vivendi confirms ** its** prior guidance ** for** each business unit

Affirmation of full-year guidance for each business unit, with constant currency growth objectives of between +2% and +4% for Canal+ Group, Havas, and New Initiatives (constant currency earnings per share growth objective of +9% to +11% for Universal Music Group).

-- Revenues of €10.510 billion, up 9.5% due to the growth of Canal+ Group and Havas as well as the integration of Lagardère as of December 1, 2023

-- EBITA of €934 million, up 7.5% and 11.7% at constant currency and perimeter, due in particular to the growth of Havas and Canal+ Group, as well as the integration of Lagardère as of December 1, 2023

-- Earnings attributable to Vivendi SE shareowners of €405 million

-- Continuation of the study of the feasibility of the split project

Revenues

For the fiscal year ended December 31, 2023, revenues increased by 9.5% to €10,510 million, compared to €9,661 million in 2022. The improvement in revenues was due to the growth of Canal+ Group and Havas, as well as the consolidation of Lagardère as of December 1, 2023. Excluding the consolidation of Lagardère, revenues increased by 2.6%. At constant currency and perimeter, revenues increased by 2.6%, reflecting the performance of Canal+ Group and Havas.

EBITA

For the fiscal year ended December 31, 2023, EBITA was €934 million, up 7.5% compared to 2022. It included income from equity affiliates – operational of Universal Music Group for €94 million, compared to €124 million in 2022, and Lagardère for €125 million until November 30, 2023, compared to €98 million in 2022. Excluding this income from equity affiliates, EBITA was €715 million, up 10.6% compared to 2022, and included the positive impact of the consolidation of Lagardère of €20 million. At constant currency and perimeter, EBITA increased by 11.7%, reflecting the performance of Havas and New Initiatives.

Adjusted Net Income

Adjusted net income was a profit of €722 million (or €0.70 per share - basic), compared to €343 million in 2022 (or €0.33 per share - basic), an increase of €379 million (x2.1).

Earnings Attributable to Vivendi SE Shareowners

Earnings attributable to Vivendi SE shareowners amounted to a profit of €405 million (or €0.40 per share - basic), compared to a loss of €1,010 million in 2022 (-€0.98 per share - basic), an increase of €1,415 million.

-- Canal+ Group

For the fiscal year ended December 31, 2023, the Canal+ Group recorded revenues of €5,666 million, up €188 million, or 3.4%, compared to 2022. The Group recorded a net increase of €902 million in revenues in the second half of 2023, reflecting the consolidation of the Canal+ Group in the U.K. and the positive performance of Canal+ Group in France and abroad. At constant currency and perimeter, revenues increased by 2.9%.