- First quarter 2024 revenues reached €4.275 billion, up 5.4%
at constant currency and perimeter compared to the same period of
2023
- Canal+ Group, Lagardère and Havas all published strong
revenue increases in the first quarter of 2024 compared to the same
period of 2023
- Update on the study of the feasibility of the split
project
Regulatory News:
Yannick Bolloré, Chairman of Vivendi’s (Paris:VIV)
Supervisory Board, and Arnaud de Puyfontaine, Chairman of
Vivendi's Management Board, commented: "Today we are publishing a
particularly sharp increase in revenues for a first quarter. This
reflects the strength of our three core businesses and the Group's
ability to transform and grow.
The organic growth of 5.4% compared to the first quarter of 2023
was notably driven by the significant contribution of Lagardère,
validating the relevance of the transaction with this group last
November and our confidence in the potential of its activities.
Canal+ Group and Havas also delivered solid performances, with
increases in reported revenues of 4.3% and 6.2%, respectively, over
the same period.
Canal+ Group stepped up the deployment of its international
presence by increasing its stakes in Viu and Viaplay, and by
launching a public tender offer with the aim of potentially
acquiring all the issued shares that it does not already own of
MultiChoice Group, the African leader in pay-TV in English-speaking
and Portuguese-speaking countries.
In the first quarter of 2024, Havas confirmed its operating
momentum, with net revenues1 up 4.8% (+2.0% organically), one of
the strongest growth rates in the communications sector. The
company pursued its policy of targeted acquisitions, with three new
companies acquired since the beginning of the year.
Prisma Media continues to develop a powerful “Luxury and Art of
Living” division, with the upcoming launch of a new extension of
the Harper's Bazaar brand devoted to interior design, and the
acquisition of Ideat and The Good Life magazines. Gameloft has been
chosen by leading toy and game company Hasbro to publish a Dungeons
& Dragons game for PC and consoles, reinforcing its position as
the preferred partner of the world's leading entertainment
franchises and strengthening its multiplatform development
strategy.
The feasibility study for the split project announced on
December 13, 2023, is progressing. We will continue to keep the
market informed.
We approach 2024 with confidence, despite a tense macroeconomic
context”.
Update on the study of the feasibility of the split
project
Background information. Since the
distribution and listing of Universal Music Group in 2021, Vivendi
has endured a significantly high conglomerate discount,
substantially reducing its valuation and thereby limiting its
ability to carry out external growth transactions for its
subsidiaries. However, companies like Canal+ Group, Havas and
Lagardère are currently experiencing strong growth in an
international context marked by numerous investment opportunities.
In order to fully unleash the development potential of all its
activities, the Management Board of Vivendi proposed to the
Supervisory Board on December 13, 2023, the possibility to explore
the feasibility of a project to split the company into several
entities, each of which would be listed on the stock market.
Since that date, the study of the feasibility of the split
project has been ongoing.
A hypothesis currently being examined is a partial split of
Vivendi, where Canal+ Group, Havas, and the company grouping the
assets in publishing and distribution would become independent
entities listed on the stock market. Once separated from these
three entities, Vivendi would remain as is, publicly listed,
maintaining its role of supporting the transformation and expansion
of its subsidiaries and continuing to actively manage its
investments.
If the Supervisory Board authorizes the split project to proceed
in this way, it must first be subjected, in due time, to
consultation with the employee representative bodies of the
entities concerned. At the end of this consultation process, it may
be necessary to seek a number of regulatory authorizations,
approvals from bondholders and other Group lenders, and then a vote
at an Extraordinary General Shareholders’ Meeting which could be
convened at the date of the Annual General Shareholders’ Meeting
scheduled for April 2025.
Vivendi revenues2
For the first quarter of 2024, Vivendi’s revenues were €4,275
million, compared to €2,290 million for the first quarter of 2023,
i.e., an increase of 86.6%. This increase was mainly driven by the
consolidation of Lagardère as well as revenue growth at Canal+
Group and Havas.
At constant currency and perimeter3, Vivendi’s revenues grew by
5.4%, compared to the first quarter of 2023, mainly due to the
performance of Lagardère (+8.9%), Canal+ Group (+2.6%) and Havas
(+3.4%).
Share buyback program
The total number of shares repurchased by Vivendi under the
share buyback program authorized by the Combined General
Shareholders' Meeting of April 24, 2023, amounted to 13 million for
a total amount of €128 million, including 10 million shares
repurchased in 2024.
Comments on the activities of the Group's businesses
Canal+ Group: revenues increased by 5.1% in mainland France
and by 5.8% internationally. Major developments in several
strategic pillars
For the first quarter of 2024, Canal+ Group’s revenues were
€1,542 million, up 4.3% compared to the first quarter of 2023
(+2.6% at constant currency and perimeter).
Revenues from television operations in mainland France increased
by 5.1% compared to the first quarter of 2023 (+3.5% at constant
currency and perimeter), driven by the growth in subscriber base
and ARPU (Average Revenue Per User).
Revenues from international operations increased by 5.8%
year-on-year (+4.1% at constant currency and perimeter), due to
continued growth in the subscriber base, particularly in
Africa.
Studiocanal’s revenues declined compared to the first quarter of
2023, which had benefited from a strong theatrical release
schedule, including Alibi.com 2 in France and John Wick 4 in
Australia and New Zealand. Significant film releases are expected
later in 2024.
These results were supported by major developments across
several strategic pillars of the Group.
On the international development pillar:
- on February 9, 2024, following a successful recapitalization,
Canal+ Group increased its interest in Viaplay, the Scandinavian
leader in pay-TV and streaming, to 29.33%, confirming its position
as the largest shareholder;
- on February 26, 2024, Canal+ Group announced that it took
another step in its ambition to make Asia its next growth driver by
increasing its stake in Viu to 30%, in accordance with the terms of
the transaction announced on June 21, 2023;
- on March 22, 2024, Canal+ Group announced that it had acquired
an interest in Senegalese production company Marodi TV, one of the
major players in the creation of series in Africa. This investment
strengthens the group’s presence and reaffirms its commitment to
supporting local talent and audiovisual production on the African
continent; and
- on April 8, 2024, Canal+ Group and MultiChoice Group published
the joint announcement of the terms of the proposed mandatory offer
by Canal+ Group in respect of MultiChoice Group. Following
extensive engagement between senior representatives of Canal+ Group
and MultiChoice Group, and in line with the timeline agreed with
the Takeover Regulation Panel (TRP), Canal+ Group has finalized the
key terms of its mandatory offer. Canal+ Group made a mandatory
offer to acquire all the issued shares of MultiChoice Group not
already owned by the group at a purchase price of ZAR125.00 per
share, payable in cash.
On the content pillar:
- on January 6, 2024, Canal+ Group and Warner Bros. Discovery
announced the renewal of their exclusive agreement for Warner Bros.
Pictures films. This multi-year agreement will allow Canal+ Group
to continue to offer its subscribers exclusive access to Warner
Bros. Pictures films, just six months after their theater release
in France;
- on January 31, 2024, Canal+ Group completed the acquisition of
the OCS pay-TV package and Orange Studio, the film and series
co-production subsidiary, from its historical partner Orange,
following approval by the French Competition Authority;
- following the creation of its first genre label focusing on
French and international content and led by Jed Benedict,
Studiocanal announced on March 18, 2024, a partnership focused on
genre films with French production company WTFilms, covering the
development, production and distribution of French language and
European content with global appeal; and
- on March 22, 2024, Canal+ Group acquired exclusive broadcast
rights to all matches of UEFA Champions League, UEFA Youth League
and UEFA Super Cup matches for the 2024/2025, 2025/2026 and
2026/2027 seasons in Poland.
Lagardère4 Group: slight revenue increase in Publishing
against an historically high comparison basis and continued
double-digit revenue growth in Travel Retail (18.7% as
published).
For the first quarter of 2024, Lagardère group’s revenue
totaled €1,883 million, up 12.4% as published and up 8.9% at
constant currency and perimeter compared to the first quarter of
2023.
For the first quarter of 2024, Lagardère Publishing
posted an increase in revenue compared to an historically high
basis, to €576 million, up 1.1% as published and up 0.8% at
constant exchange rates and perimeter compared to the first quarter
of 2023.
- In France, the division recorded a 4.8% fall in revenue, mainly
due to a decline in revenue for Illustrated Books in the
comics/manga segment, the absence of an equivalent to the Asterix
and Obelix: The Middle Kingdom album and softer activity in
Practical Guides. However, the Children and Young Adult segment
continued to advance, driven by the publication of the new Sarah
Rivens novel, Lakestone. General Literature was stable compared
with first-quarter 2023, which had benefited from bestsellers by
Prince Harry and Pierre Lemaitre, thanks to the publication of two
new Guillaume Musso titles in March 2024 – Quelqu'un d'autre in
hardcover and Angélique in paperback.
- In the United Kingdom, revenue rose by 4.8% thanks to the
performance of Adult Trade, driven in particular by the continued
success of backlist titles, including the first two volumes of The
Empyrean trilogy by Rebecca Yarros, dynamic sales of Matthew
Perry's autobiography in audio format, and a fine frontlist
performance with the successful launch of Ali Hazelwood's Bride.
Business was also buoyant on international markets, particularly
Australia, where backlist sales registered an increase.
- In the United States, revenue rose by 3.4%, driven by a good
start to the year at Hachette Audio on the back of higher digital
audio revenue, and by strong momentum in science fiction sales at
Orbit. In addition, Oath and Honor by Liz Cheney has been a big hit
at Little, Brown Adult.
- In Spain/Latin America, revenue was virtually stable (down
1.0%), reflecting a slowdown in Adult Trade in Spain and softer
Children and Young Adult sales than in first-quarter 2023. Mexico,
on the other hand, has continued to advance since the start of the
year.
- Revenue from Partworks rose by 1.9%, thanks to a larger and
promising launch campaign in 2024, particularly in Germany, Italy
and Spain.
E-books accounted for 8.5% of total Lagardère Publishing revenue
in first-quarter 2024, versus 8.2% in first-quarter 2023, while
digital audiobooks represented 6.7% of revenue compared to 5.2% in
the same year-ago period.
With global air traffic having returned to normal levels,
Lagardère Travel Retail once again achieved double-digit
revenue growth for the first quarter of 2024. Revenue totaled
€1,242 million, up 18.7% as reported and up 13.6% at constant
exchange rate and perimeter compared to the first quarter of
2023.
- In France, business for the division grew by 16.2%.
- The EMEA region (excluding France) saw a strong 22.5% increase
in revenue, driven by all the countries in the region on the back
of the return of air traffic to pre-Covid levels, and led by the
Middle East (up 109.9%), Italy (up 23.8%) and Romania (up
29.0%).
- Revenue in the Americas rose by 7.8%, thanks to dynamic growth
in the United States (up 6.4%) and Canada (up 14.5%).
- The Asia-Pacific region recorded a decline of 15.5%, which was
particularly marked in North Asia (down 20.3%) due to the economic
slowdown in China and consequent contraction in Chinese consumer
spending.
For the first quarter of 2024, revenue of the other
activities totalled €65 million, up 10.2% as published and
stable at constant exchange rate and perimeter compared to the
first quarter of 2023. Business levels remained stable thanks to a
very good performance by Lagardère Live Entertainment venues (up
18.4%). Lagardère Radio recorded revenue growth of 2.9%, driven by
an upturn in audience figures for Europe 1. At Lagardère News, the
Press business was down 14.3%, while Elle International activities
moved back by 1.3%.
Havas: one of the best growth rates in its sector (net
revenues1 up +4.8% and +2.0% organically), and continued
acquisitions
After posting one of the strongest performances in the
communications sector in 2023, Havas continued its growth
trajectory with a 6.2% increase in revenues in the first quarter of
2024 compared to the first quarter of 2023, driven by a +3.4%
growth at constant currency and perimeter and the impact of
acquisitions (+3.7%), despite currency effects (-0.9%).
Net revenues1 amounted to €617 million, up 4.8% compared to the
first quarter of 2023 (+2.0% on an organic basis). Acquisitions
contributed to an increase of 3.8% and included income from
Uncommon, Eprofesionnal, Shortcut and Ledger Bennett. Currency
effects had a negative impact of 1.0%, mainly due to the evolution
of the US dollar and the Argentine peso.
In Europe, performance was solid, with growth driven by almost
all countries and activities. North America posted a slight
decrease in line with expectations. Asia-Pacific posted very
satisfactory growth in particular in India, and Latin America
continued to record double digit organic growth, in particular in
Mexico.
Havas is experiencing very good commercial momentum, as
illustrated by the wins of Fedex on the creative side at the
European level, the media budget of the SNCF group in France and
Famous Footwear in the United States (please refer to Appendix IV
for the list of awards and accounts won).
After two record years, Havas has continued its strong
acquisition momentum since the beginning of the year with the
integration of three new agencies. Two agencies are based in the
United Kingdom: Ledger Bennett, a global B2B marketing agency, and
Wilderness, a multi-award-winning social marketing agency,
strengthening Havas's offer in these fast-growing areas. Ted
Consulting, a French data and digital transformation consulting
firm, has joined Havas Media Network to create a first-of-its-kind
solution combining data, automation, robotization and artificial
intelligence.
These acquisitions are in line with the group's
"customer-centric" approach, which aims to diversify the solutions
offered to clients in terms of digital and data.
Havas continues to integrate artificial intelligence and new
technologies at the heart of all its expertise, in line with its
motto "Be better with AI. Be better than AI" to design, produce,
and deliver personalized content and experiences at scale.
Prisma Media: confirmation of its leading positions in France
and significant development of its Luxury and Art of Living
division
For the first quarter of 2024, Prisma Media’s revenues were €71
million, up 0.7 % at constant currency and perimeter compared to
the first quarter of 2023.
The latest audience results demonstrate that Prisma Media is the
leading bi-media editor with nearly 40 million people (almost two
out of three French people) reading Prisma Media articles every
month, up by 1% despite the sale of the Gala magazine in November
2023.
Télé-Loisirs (22.1 million readers) remains the top magazine
brand. Capital is the leading economic brand, consulted by over 10
million people (up by 17% compared to the first quarter of 2023)
and reaching more than one out of five upper socio-professional
(CSP+) individuals per month. With the acquisition of
PasseportSanté in September 2023 and the development of Dr.GOOD!,
Prisma Media also becomes the leading bi-media health publisher,
reaching over 23 million French people every month.
At the end of February 2024, Prisma Media brands retained their
leading positions in digital audiences (in terms of number of
unique visitors): Télé Loisirs is No. 1 in the Entertainment
segment, Voici is No. 1 in the People segment and Femme Actuelle
remains No. 1 in the Women’s segment, and Capital is the leading
media site in the "Economy/Finance" category.
Prisma Media's 2023 strategy of building an ambitious “Luxury
and Art of Living” division is bearing fruit, with Harper's Bazaar
increasing its market share by five points in the first quarter of
2024. Prisma Media strengthened this division with the takeover on
April 22, 2024, of the magazines Ideat (design and interior
decoration) and The Good Life (lifestyle). Prisma Media also
announced the launch in October 2024 of a new quarterly magazine,
Harper's Bazaar Interiors, the first brand extension of Harper's
Bazaar France.
Prisma Media has integrated Digital Prisma Player (formerly M6
Digital sites) into its programmatic advertising platform with
positive impacts: audiences and revenues per thousand up by more
than 15% compared to the first quarter of 2023. Digital affiliation
(e-commerce) and advertising revenues on social media have grown by
more than 25% compared to the first quarter of 2023.
Prisma Media’s social media audiences continued to grow with the
number of followers on TikTok doubling compared to the first
quarter of 2023 to reach 4.3 million followers.
Gameloft: growth in the strategic PC/console segment, and
announcement of a new Dungeons & Dragons® game
For the first quarter of 2024, Gameloft continued its strategic
diversification and its expansion on PC and console platforms.
Revenues from these platforms now represent 41% of Gameloft's total
revenues, up 9.3% at constant currency and perimeter compared to
the first quarter of 2023.
For the first quarter of 2024, Gameloft's total revenues were
€68 million, down 3.4% compared to the first quarter of 2023 (-2.9%
at constant currency and perimeter). Total revenues include
PC/Console revenues of €28 million, and mobile revenues of €37
million.
Disney Dreamlight Valley, Asphalt 9: Legends, Disney Magic
Kingdoms, March of Empires and Dragon Mania Legends represented 61%
of Gameloft’s total revenues and ranked as the five best sellers in
the first quarter of 2024.
On March 14, 2024, Gameloft announced that it has licensed the
world’s greatest roleplaying game – Dungeons & Dragons® – from
Wizards of the Coast, the IP-holder and a division of Hasbro, to
publish a new PC and console game developed by its Montreal Studio,
creators of Disney Dreamlight Valley, LEGO Star Wars Castaways, and
several games within the iconic Dungeon Hunter series.
Vivendi Village: put option agreement for the sale of
Vivendi’s festival and international ticketing activities received
by CTS Eventim
For the first quarter of 2024, Vivendi Village’s revenues were
€31 million, practically stable in organic terms compared to the
first quarter of 2023.
On April 2, 2024, Vivendi signed a put option agreement with CTS
Eventim, a leading international player in ticketing and live
entertainment, concerning its international festival and ticketing
activities. The transaction is expected to close in the coming
months, after consultation with the relevant employee
representative bodies. Vivendi's concert hall activities, including
the Olympia in Paris, as well as See Tickets France and the Brive
Festival, are not concerned by this agreement.
The Olympia hosted 85 shows in the first quarter of 2024,
including Florence Foresti and Laura Felpin in comedy, L'Hommage à
Jane Birkin, concerts by MC Solaar, Air, IAM, The Pixies, Kim
Petras and Reneé Rapp as well as the 49th César Awards
ceremony.
New Initiatives: double-digit growth
For the first quarter of 2024, New Initiatives, which mainly
brings together Dailymotion and GVA entities, recorded revenues of
€42 million, a strong increase of 35.7% (+31.5% at constant
currency and perimeter) compared to the first quarter of 2023.
In the first quarter of 2024, Dailymotion's revenues
increased by 24.8% compared with the first quarter of 2023.
This increase was driven by direct ad revenues, which were up by
85% compared to the same period of 2023, mainly in EMEA and the
North America as well as by the fee-based offer Dailymotion Pro for
the businesses.
GVA, Vivendi's subsidiary dedicated to providing very
high-speed Internet access in Africa, thanks to its FTTH (fiber to
the home) networks, reported a 38.8% increase in its revenues
compared to the first quarter of 2023.
GVA is now present in thirteen cities in eight countries in
sub-Saharan Africa (Burkina Faso, Ivory Coast, Congo-Brazzaville,
Democratic Republic of Congo, Gabon, Rwanda, Uganda and Togo).
Very high-speed Internet access offers are aimed at the
residential and professional markets, under the "CanalBox"
brand.
At the end of March 2024, CanalBox covered 2.9 million of Homes
Passed (eligible homes and businesses).
Shareholders' Meeting Vivendi's Combined Annual General
Shareholders’ Meeting is being held today at the Olympia in Paris
at 10:00 am. It will be broadcast live on the group's website.
https://www.vivendi.com/en/shareholders-investors/shareholders-meeting/
About Vivendi Since 2014, Vivendi has been building a
world-class content, media and communications group. Canal+ Group
is a major player in the creation and distribution of cinema and
audiovisual content on all continents. Lagardère is the world’s
third-largest book publisher for the general public and educational
markets, and a leading global player in travel retail. Havas is one
of the largest global communications groups with a presence in more
than 100 countries. Vivendi is also active in the magazine business
(Prisma Media), video games (Gameloft), a global digital content
distribution platform (Dailymotion), a subsidiary dedicated to
providing very high-speed Internet access in Africa (GVA) and live
entertainment and ticketing (Vivendi Village). Vivendi’s various
activities work closely together as an integrated group committed
to transforming its businesses to meet the expectations of the
public and anticipate constant changes. As a committed group,
Vivendi contributes to building more open, inclusive, and
responsible societies by supporting diverse and inventive creative
works, promoting broader access to culture, education, and its
industries, and increasing awareness of 21st century challenges and
opportunities. www.vivendi.com
Important Disclaimers Cautionary Note Regarding
Forward-Looking Statements. This press release contains
forward-looking statements with respect to Vivendi’s financial
condition, results of operations, business, strategy, plans and
outlook, including the impact of certain transactions, such as the
contemplated split and listing projects and any related
transactions, and the payment of dividends and distributions, as
well as share repurchases. Although Vivendi believes that such
forward-looking statements are based on reasonable assumptions,
such statements are not guarantees of the completion of the split
and listing projects or of Vivendi’s future performance. Actual
results may differ materially from the forward-looking statements
as a result of a number of risks and uncertainties, many of which
are outside our control, including, but not limited to, the risks
related to antitrust and other regulatory approvals as well as any
other approvals which may be required in connection with certain
transactions and the risks described in the documents of the Group
filed by Vivendi with the Autorité des Marchés Financiers (the
French securities regulator), which are also available in English
on Vivendi's website (www.vivendi.com). Investors and security
holders may obtain a free copy of documents filed by Vivendi with
the Autorité des Marchés Financiers at www.amf-france.org, or
directly from Vivendi. Accordingly, we caution readers against
relying on such forward-looking statements. These forward-looking
statements are made as of the date of this press release. Vivendi
disclaims any intention or obligation to provide, update or revise
any forward-looking statements, whether as a result of new
information, future events or otherwise. This press release does
not contain or constitute an offer of securities or an invitation
to invest either in France or abroad.
Unsponsored ADRs. Vivendi does not sponsor an American
Depositary Receipt (ADR) facility in respect of its shares. Any ADR
facility currently in existence is “unsponsored” and has no ties
whatsoever to Vivendi. Vivendi disclaims any liability in respect
of any such facility.
APPENDIX I
VIVENDI
REVENUES BY BUSINESS SEGMENT (IFRS,
unaudited)
Three months ended March 31,
(in millions of euros)
2024
2023
% Change
% Change at constant currency
% Change at constant currency and
perimeter
(a)
Revenues
Canal+ Group
1,542
1,478
+4.3%
+3.6%
+2.6%
Lagardère (a)
1,883
na
na
na
+8.9%
Havas
649
611
+6.2%
+7.1%
+3.4%
of which net revenues (b)
617
588
+4.8%
+5.8%
+2.0%
Prisma Media
71
73
-3.5%
-3.5%
+0.7%
Gameloft
68
71
-3.4%
-2.9%
-2.9%
Vivendi Village
31
33
-6.7%
-7.0%
-0.6%
New Initiatives
42
31
+35.7%
+35.7%
+31.5%
Generosity and solidarity
-
1
Elimination of intersegment
transactions
(11)
(8)
Total Vivendi
4,275
2,290
+86.6%
+86.3%
+5.4%
na: not applicable.
- Constant perimeter notably reflects the impacts of the
combination with Lagardère, which has been fully consolidated from
December 1, 2023.
- Net revenues, a non-GAAP measure, relates to Havas’s revenues
less pass-through cost rebilled to customers.
APPENDIX II
VIVENDI
DETAIL OF REVENUES BY BUSINESS SEGMENT
(IFRS, unaudited)
Canal+ Group
Three months ended March 31,
(in millions of euros)
2024
2023
% Change
% Change at constant
currency
% Change at constant currency and
perimeter
International TV
620
585
+5.8%
+4.1%
+4.1%
TV in mainland France (a)
833
793
+5.1%
+5.1%
+3.5%
Studiocanal
89
100
-10.8%
-11.5%
-13.3%
Revenues
1,542
1,478
+4.3%
+3.6%
+2.6%
a. Relates to pay-TV services and free-to-air channels (C8,
CStar and CNews) in mainland France.
Lagardère
Three months ended March 31,
(in millions of euros)
2024
2023 (b)
% Change
% Change at constant currency and
perimeter
Lagardère Publishing
576
570
+1.1%
+0.8%
Lagardère Travel Retail
1,242
1,046
+18.7%
+13.6%
Other activities (a)
65
59
+10.2%
-
Revenues
1,883
1,675
+12.4%
+8.9%
Revenues by
geographic area (in %)
France
22%
23%
Western Europe
25%
24%
Eastern Europe
13%
12%
United States and Canada
28%
28%
Asia-Pacific
7%
9%
Latin America, Middle East and Africa
5%
4%
100%
100%
a. Includes Lagardère News (Paris Match, Le Journal du Dimanche,
JDD Magazine and the Elle license), Lagardère Radio (Europe 1,
Europe 2, RFM and Advertising Sales Brokerage businesses),
Lagardère Live Entertainment, Lagardère Paris Racing and the
Corporate Group.
b. Data as published by Lagardère for the first quarter of 2023.
As a reminder, Vivendi has fully consolidated Lagardère from
December 1, 2023.
APPENDIX II (Cont’d)
VIVENDI
DETAIL OF REVENUES BY BUSINESS SEGMENT
(IFRS, unaudited)
Havas
Three months ended March 31,
(in millions of euros)
2024
2023
% Change
% Change at constant currency
% Change at constant currency and
perimeter
Revenues
649
611
+6.2%
+7.1%
+3.4%
Net revenues (a)
617
588
+4.8%
+5.8%
+2.0%
Net revenues by
geographic area
Europe
310
278
+11.5%
+10.9%
+5.5%
North America
220
230
-4.3%
-2.7%
-4.0%
Asia Pacific and Africa
51
48
+6.3%
+9.9%
+0.8%
Latin America
36
32
+12.5%
+14.6%
+14.6%
617
588
+4.8%
+5.8%
+2.0%
a. Net revenues, a non-GAAP measure, relates to Havas’s revenues
less pass-through costs rebilled to customers.
APPENDIX III
VIVENDI
SCOPE OF CONSOLIDATION AND CURRENCY
IMPACTS
Revenues
Three months ended March 31,
2024
2023
Organic growth
+5.4%
+2.0%
Consolidation scope impact
+80.9pts
+1.1pt
Change at constant currency
rate
+86.3%
+3.1%
Fx impact
+0.3pt
+0.2pt
Actual growth
+86.6%
+3.3%
Change in currencies
Three months ended March 31,
Average rate over the period
2024
2023
Change
EUR vs.
USD:
1.090
1.074
+1.5%
GBP:
0.858
0.879
-2.4%
PLN:
4.333
4.719
-8.2%
APPENDIX IV
VIVENDI
HAVAS: SIGNIFICANT AWARDS AND
ACCOUNTS WON IN THE FIRST QUARTER OF
2024
Havas Media
Banco Sabadell (Mexico), Beam Suntory (Germany and Austria),
Deichman (Poland), Exeed (Mexico), Famous Footwear (United States),
Huawei (Germany), MP Tourism (India), SNCF (France), Van Geloven
(Netherlands and Belgium), Vitru (Brazil).
Havas Creative
Tzield (Sanofi) (Havas New York), Jumeirah Group (Havas Middle
East), Empire Today (Havas Edge), Vitru (BETC Brazil), James Hardie
(Havas Chicago), Zeekr (Netherlands, Sweden, Germany), Build your
Dreams Busses Mexico (Vale Group), Andros (Rosa Paris), Fedex
(Havas Paris).
Havas Health & You
AstraZeneca (Havas Life Shanghai).
__________________________________ 1 Net revenues, a non-GAAP
measure, relates to Havas’s revenues less pass-through costs
rebilled to customers. 2 This press release contains unaudited
consolidated revenues established under IFRS. 3 Constant perimeter
mainly reflects the impacts of the combination with Lagardère,
which has been fully consolidated from December 1, 2023. 4
Lagardère has been fully consolidated from December 1, 2023.
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Investor Relations Xavier Le Roy +33 (0) 1 71 71 18 77
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