Vivendi-Slight increase in Q3 sales with Havas and despite Canal+ | Photo credits: Sipa
Oct 20 (Reuters) – Vivendi on Thursday announced third-quarter revenue growth of 0.6% at constant scope and exchange rates, thanks to the growth of Havas, its advertising subsidiary.
Havas’ sales amounted to 665 million euros, up 12.7% on a reported basis, or 3.2% at constant exchange rates and perimeter.
The French group added, however, that this growth for Havas had been partially erased by a slowdown in its Canal+ pay-TV unit.
Canal+’s revenues in the quarter fell 4.9% at constant currencies and like-for-like to 1.42 billion euros.
Regarding its plan to buy Lagardère, Vivendi, controlled by its largest shareholder Vincent Bolloré, is awaiting the green light from the European competition services and said it was working actively to obtain their authorization for this operation.
Vivendi said in July it was considering selling its publishing house Editis to favor the agreement of the European Commission.
The group achieved in the third quarter a turnover of 2.58 billion euros, against 2.48 billion euros over the same period last year.
He said he was confident for the rest of the year, despite the macroeconomic and geopolitical turbulence. (Report Olivier Sorgho and Valentine Baldassari, French version Augustin Turpin)