Vivendi (VIV) Q3 2024 TU earnings summary

Executive summary

• Revenues for the first nine months of 2024 reached €13,802 million, up 93.7% year-over-year, mainly due to the consolidation of Lagardère and growth at Canal+ and Havas.

• Organic revenue growth was 4.5% year-over-year, reflecting strong performances at Lagardère (+9.1%) and Canal+ (+1.9%).

• The group is preparing for a proposed split, with a shareholder vote scheduled for December 9, 2024.

Financial highlights

• Third quarter 2024 revenues were €4,750 million, up 95.8% year-over-year, mainly from Lagardère consolidation.

• Share buybacks totaled €342.2 million (35.1 million shares) in the first nine months; Vivendi holds 3.7% of its share capital.

• Sale of festival and international ticketing activities in June 2024 reduced "Other activities" revenue by €86 million year-over-year.

Outlook and guidance

• If the split is approved, shares of the three new companies are expected to list on December 16, 2024.

• Early redemption of bond debt is planned, covered by financing agreements signed in September 2024.