PARIS (Agefi-Dow Jones)–The media conglomerate Vivendi on Wednesday published better-than-expected results in 2021, and reaffirmed its desire to create a “major European content and media group” by buying the 65% of Lagardère which he does not yet have.
Vivendi filed in early February a draft takeover bid for the media and distribution group at a price of 25.50 euros per share. This offer raises the concern of a number of publishing players who fear being marginalized by the merger of two heavyweights in the sector, Hachette (Lagardère) and Editis (Vivendi).
“We are in daily dialogue with the European Commission. There will inevitably be remedies. We are keeping all options open” to be able to finalize this takeover this year, said Arnaud de Puyfontaine, Chairman of the Vivendi Management Board, during a meeting. conference call.
Vivendi made the comments as the group posted strong earnings growth in 2021, a year also marked by the spin-off of its main division Universal Music Group (UMG).
Net income, group share, amounted to 24.69 billion euros, compared to 1.44 billion euros in 2020. It includes a capital gain of 24.84 billion euros linked to the deconsolidation of 70% of Universal Music Group (UMG) on September 23. On an adjusted basis, Vivendi’s net profit amounted to 649 million euros, against 292 million euros a year earlier.
Adjusted operating income (Ebita) reached €690 million, compared to €298 million in 2020.
All continuing activities contributed to this increase, in particular Havas Group (+€118 million), Canal+ (+€45 million) and Editis (+€12 million).
Vivendi’s revenue reached 9.57 billion euros in 2021, up 8.6% at constant exchange rates and perimeter.
According to the consensus established by FactSet, analysts on average anticipated a turnover of 9.45 billion euros, an Ebita of 577 million euros and a net profit of 549 million euros.
-Francois Schott, Agefi-Dow Jones; +33 (0)1 41 27 47 92; [email protected] ed: LBO
VIVENDI FINANCIAL RELEASES:
https://www.vivendi.com/individual-shareholders/press-releases/
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March 09, 2022 12:47 ET (17:47 GMT)