Vivendi publishes 2007 results online
Jean-Bernard Levy, CEO of Vivendi. The group of media and communications in 2007 reached an adjusted net income rose by 8.3% to 2,832 million euros (for a consensus Reuters Estimates ended February 28, from 2.809 million) for 2008 and expects an increase in results comparable to that of the previous year.
Print TalkBack Sort Vivendi announced a net profit adjusted annual increase of 8.3%, in line with expectations, thanks to video games and Canal +, and has planned for 2008 earnings growth in comparable to that of 2007 on a equivalent.
The group of media and communications also anticipated a turnover of approximately 30 billion euros in 2009, compared with a Reuters Estimates consensus of 25.2 billion, after 21.6 billion in 2007.
Vivendi reiterated its target of adjusted net income of between 4 and 3.5 billion in 2011, up from 2.8 billion in 2007.
"We have no reason to change that goal, but we have two major transactions which will be set in motion this year and we will do a strategic point mid-year," said Jean-Bernard Levy during a conference press.
The group announced in early December bringing Vivendi Games with Activision to give birth to Activision Blizzard, new set of video games they will control, while SFR, in which Vivendi owns 56% and the balance Vodafone, announced on December 20 a proposed takeover of Neuf Cegetel for a total cost estimated at 4.5 billion euros.
The group will pay a dividend of 1.30 euro, up from 1.20 euro in 2006, and said he was determined to continue to be distributed to shareholders over half of adjusted net income, the proportion was 53.5% for 2007 .
For 2008, Vivendi said expected earnings growth in comparable to that of 2007 within its current, or 3.06 billion euros, in line with the Reuters Estimates consensus.
The action Vivendi lost 2.21% to 26.06 euros to 16 hours in the wake of the index DJStoxx media. She lost more than 17% since the beginning of the year after winning 6% in 2007.
Several analysts saw the results online, even if sub-SFR has outperformed expectations because of costs to acquire customers in the fourth quarter related to the launch of tenders "Illimythics" (3G) designed to counter the arrival of the iPhone marketed by Orange and who rely 250,000 customers since November.
Second french mobile operator, SFR won a total of 883,000 customers to 18.77 million customers in 2007 and has also invested heavily in its networks 3G/3G +.
Vivendi has almost stabilized in 2008 the Ebita SFR, which fell by 2.6% in 2007, and expects a slight growth in its turnover in the mobile.
The CFO said Philippe Capron consider pushing the threshold of 10% of revenues for investment in the SFR mobile in 2008, up from 10.8% in 2007 and 12.9% in 2006.
CANAL + AND GAMES
Canal + Group, Vivendi Games and Maroc Telecom were the engines of operating income adjusted Vivendi, which grew by 8.0% to 4,721 million in 2007.
Canal + Group has increased its operating profit by 5.3 times to 490 million after taken into account cost 90 million related to the merger agreement in March 2007 with TPS, which has produced synergies of 150 million, a figure higher than targeted the group.
The agreement on the rights of the Ligue 1 soccer for 2008-2012, including Canal + has recovered nine of the 12 lots for some 465 million euros against 600 million over the previous period, should facilitate the achievement of some 200 million e euros of additional synergies provided by 2010, "said Philippe Capron.
Vivendi, which is always seeking an operating profit of one billion euros for Canal + Group in 2010, expects a growth rate of 3 to 4% of its turnover in 2008, excluding the impact of the integration of GST with a Ebita " well above "600 million before transition costs estimated at 80 million.
Vivendi Games, whose turnover has crossed in the course of 2007 billion euros through network play "World of Warcraft" with the number of subscribers has exceeded ten million, posted an operating margin of 17.8 % against 14.3% in 2006.
Vivendi aims for 2009 an operating margin greater than 25% for all Activision Blizzard, with a turnover of 4.3 billion dollars.
Maroc Telecom, of which Vivendi owns 53%, has benefited from a jump of 29.9% in operating income from its mobile business. Vivendi expects a slowdown in the growth of the Moroccan operator in 2008, with increases of more than 7% in its turnover and 9% for its Ebita, compared with 19.6% in both cases in 2007.
Universal Music Group (UMG) has however continued to weigh on the operating profit adjusted in 2007. Victim as its competitors of falling CD sales, UMG sees its operating margin decline to 12.8% versus 15.0% in 2007.
Print TalkBack Sort Vivendi announced a net profit adjusted annual increase of 8.3%, in line with expectations, thanks to video games and Canal +, and has planned for 2008 earnings growth in comparable to that of 2007 on a equivalent.
The group of media and communications also anticipated a turnover of approximately 30 billion euros in 2009, compared with a Reuters Estimates consensus of 25.2 billion, after 21.6 billion in 2007.
Vivendi reiterated its target of adjusted net income of between 4 and 3.5 billion in 2011, up from 2.8 billion in 2007.
"We have no reason to change that goal, but we have two major transactions which will be set in motion this year and we will do a strategic point mid-year," said Jean-Bernard Levy during a conference press.
The group announced in early December bringing Vivendi Games with Activision to give birth to Activision Blizzard, new set of video games they will control, while SFR, in which Vivendi owns 56% and the balance Vodafone, announced on December 20 a proposed takeover of Neuf Cegetel for a total cost estimated at 4.5 billion euros.
The group will pay a dividend of 1.30 euro, up from 1.20 euro in 2006, and said he was determined to continue to be distributed to shareholders over half of adjusted net income, the proportion was 53.5% for 2007 .
For 2008, Vivendi said expected earnings growth in comparable to that of 2007 within its current, or 3.06 billion euros, in line with the Reuters Estimates consensus.
The action Vivendi lost 2.21% to 26.06 euros to 16 hours in the wake of the index DJStoxx media. She lost more than 17% since the beginning of the year after winning 6% in 2007.
Several analysts saw the results online, even if sub-SFR has outperformed expectations because of costs to acquire customers in the fourth quarter related to the launch of tenders "Illimythics" (3G) designed to counter the arrival of the iPhone marketed by Orange and who rely 250,000 customers since November.
Second french mobile operator, SFR won a total of 883,000 customers to 18.77 million customers in 2007 and has also invested heavily in its networks 3G/3G +.
Vivendi has almost stabilized in 2008 the Ebita SFR, which fell by 2.6% in 2007, and expects a slight growth in its turnover in the mobile.
The CFO said Philippe Capron consider pushing the threshold of 10% of revenues for investment in the SFR mobile in 2008, up from 10.8% in 2007 and 12.9% in 2006.
CANAL + AND GAMES
Canal + Group, Vivendi Games and Maroc Telecom were the engines of operating income adjusted Vivendi, which grew by 8.0% to 4,721 million in 2007.
Canal + Group has increased its operating profit by 5.3 times to 490 million after taken into account cost 90 million related to the merger agreement in March 2007 with TPS, which has produced synergies of 150 million, a figure higher than targeted the group.
The agreement on the rights of the Ligue 1 soccer for 2008-2012, including Canal + has recovered nine of the 12 lots for some 465 million euros against 600 million over the previous period, should facilitate the achievement of some 200 million e euros of additional synergies provided by 2010, "said Philippe Capron.
Vivendi, which is always seeking an operating profit of one billion euros for Canal + Group in 2010, expects a growth rate of 3 to 4% of its turnover in 2008, excluding the impact of the integration of GST with a Ebita " well above "600 million before transition costs estimated at 80 million.
Vivendi Games, whose turnover has crossed in the course of 2007 billion euros through network play "World of Warcraft" with the number of subscribers has exceeded ten million, posted an operating margin of 17.8 % against 14.3% in 2006.
Vivendi aims for 2009 an operating margin greater than 25% for all Activision Blizzard, with a turnover of 4.3 billion dollars.
Maroc Telecom, of which Vivendi owns 53%, has benefited from a jump of 29.9% in operating income from its mobile business. Vivendi expects a slowdown in the growth of the Moroccan operator in 2008, with increases of more than 7% in its turnover and 9% for its Ebita, compared with 19.6% in both cases in 2007.
Universal Music Group (UMG) has however continued to weigh on the operating profit adjusted in 2007. Victim as its competitors of falling CD sales, UMG sees its operating margin decline to 12.8% versus 15.0% in 2007.
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