Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. France
  4. Euronext Paris
  5. Vivendi SE
  6. News
  7. Summary
    VIV   FR0000127771

VIVENDI SE

(VIV)
  Report
Real-time Quote. Real-time Euronext Paris - 09/27 11:29:55 am
10.965 EUR   -0.14%
09/23VIVENDI SA : Deutsche Bank reiterates its Buy rating
MD
09/22VIVENDI SA : Deutsche Bank remains its Buy rating
MD
09/22VIVENDI SA : Gets a Buy rating from UBS
MD
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Vivendi's music unit Universal posts strong results ahead of spin-off

07/28/2021 | 12:44pm EDT
FILE PHOTO: French media giant Vivendi's logo in Paris

* Vivendi H1 core profits up 49%

* Universal's listing scheduled Sept. 21

* Universal plans investors day on Aug. 25

PARIS, July 28 (Reuters) - Vivendi's most prized division Universal, the music label behind artists like Justin Bieber and Taylor Swift, drove group first-half results, bolstering its position two months before its planned spin-off and listing in Amsterdam.

The transaction, carefully designed over the last two years by Vivendi's top investor, Vincent Bollore, aims to cash in on the music industry rebound, underpinned by booming streaming revenues but also a recent surge in sales of vinyl records and CDs.

With an estimated enterprise value of 35 billion euros ($41 billion), according to Vivendi, Universal Music Group (UMG) is worth more than the market value of its own parent company.

The spin-off involves the distribution of 60% of Universal's shares to Vivendi's shareholders.

The deal has become high profile in the United States, as billionaire Bill Ackman plans to buy 10% in the company after he failed to do so via a special purpose acquisition company (SPAC).

Universal's core profits represented about three quarters of Vivendi's first-half earning before interest, tax and amortization (EBITA), at 753 million euros.

Vivendi's other key subsidiaries, pay-TV Canal Plus, advertising group Havas and publishing unit Editis, also contributed to core profits, which rose by 49% from a year earlier.

Group revenues over the period were up by 12% to 8.22 billion euros.

While benefiting Vivendi's shareholders in the short term, the separation of Universal would strip the group of its most valuable asset, which represents 75% of the group's total valuation, according to broker Bryan Garnier.

During the call, several analysts pressed Vivendi's management about what the company could do to support the stock's price following Universal's spin-off.

Chief Financial Officer Hervé Philippe said that a shares buyback program was "absolutely a possibility."

Analysts also asked about the mounting challenge faced by Canal Plus after e-commerce giant Amazon recently seized most of France's broadcasting rights for the Ligue 1 soccer matches.

The move could be a game changer for the French TV market, biting Canal Plus' market share in what used to be its main turf.

"We've got a problem," Vivendi's chief executive Arnaud de Puyfontaine said, insisting that the price the pay-TV was paying for the remaining matches it could broadcast was too high compared to what Amazon would pay.

Several legal procedures were under way, he said.

Universal's market debut and spin-off are scheduled for Sept. 21, Vivendi confirmed. Universal will hold a capital markets day of briefings for analysts and investors on Aug. 25, it said. (Reporting by Mathieu Rosemain Editing by David Evans, David Holmes and Nick Macfie)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BOLLORÉ SE -1.95% 5.27 Real-time Quote.58.93%
PERSHING SQUARE TONTINE HOLDINGS, LTD. -0.05% 19.705 Delayed Quote.-28.90%
THE HOWARD HUGHES CORPORATION 2.65% 90.58 Delayed Quote.11.39%
UNIVERSAL MUSIC GROUP N.V. 0.83% 23.615 Real-time Quote.0.00%
VIVENDI SE 0.09% 10.965 Real-time Quote.-58.38%
All news about VIVENDI SE
09/23VIVENDI SA : Deutsche Bank reiterates its Buy rating
MD
09/22VIVENDI SA : Deutsche Bank remains its Buy rating
MD
09/22VIVENDI SA : Gets a Buy rating from UBS
MD
09/22VIVENDI : Universal boss in line for £100m bonus as debut soars to the top of the charts
AQ
09/22Vivendi SE completed the Spin-Off of Universal Music Group, Inc.
CI
09/21VIVENDI : Canal+ Group to acquire majority stake in SPI International
PU
09/21VIVENDI SA : Gets a Neutral rating from Jefferies
MD
09/21European Stocks Bounce Back, Close in Green Amid China Evergrande Woes
MT
09/21Eurostoxx 50 : European shares recover from worst session in two months; UMG soars in d..
RE
09/21GLOBAL MARKETS LIVE : Vivendi, EssilorLuxottica, Compass, StageCoach, Allianz...
More news
Analyst Recommendations on VIVENDI SE
More recommendations
Financials
Sales 2021 9 157 M 10 718 M 10 718 M
Net income 2021 -86,2 M -101 M -101 M
Net Debt 2021 478 M 559 M 559 M
P/E ratio 2021 22,2x
Yield 2021 5,82%
Capitalization 11 496 M 13 461 M 13 455 M
EV / Sales 2021 1,31x
EV / Sales 2022 1,21x
Nbr of Employees 42 800
Free-Float 62,1%
Chart VIVENDI SE
Duration : Period :
Vivendi SE Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends VIVENDI SE
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 20
Last Close Price 10,98 €
Average target price 20,08 €
Spread / Average Target 82,9%
EPS Revisions
Managers and Directors
Arnaud Roy de Puyfontaine Chairman-Management Board & CEO
Hervé Philippe Chief Financial Officer & Member-Management Board
Yannick Bolloré Chairman-Supervisory Board
Stéphane Roussel Chief Operating Officer & Member-Management Board
Caroline Le Masne de Chermont Senior VP-Legal Affairs, CSR & Compliance
Sector and Competitors
1st jan.Capi. (M$)
VIVENDI SE-58.38%13 461
WARNER MUSIC GROUP CORP.16.37%22 741
BOLLORÉ SE58.93%18 455
DOLBY LABORATORIES, INC.-4.80%9 375
TOEI ANIMATION CO.,LTD.189.49%8 652
BEIJING ENLIGHT MEDIA CO., LTD.-18.48%4 464