Vivendi Universal released full year results this morning which showed revenue growth for 2001 of 10% and predicted that growth for 2002 would also be 10%.
Publishing revenues were up 5% which countered a 1% drop in music revenues for the year. Publishing was boosted by success in the games and education divisions where revenue by 23% and 9% respectively whilst music suffered as a result of last year’s weak market despite successes for artists including Enrique Inglesias and Limp Bizkit.
Vivendi’s telecoms division achieved 24% growth and internet grew by 36% thanks to VU Net in the US & Europe and new sites launched in 2001. TV & film revenues grew by 8% due to many successful releases at the cinema and on DVD.
Despite the severe decline in the market in 2001 Vivendi’s media and communications division achieved growth of 9% in Q4. Looking to 2002, the company says that internal growth is the priority and forecasts revenue growth of 10% for the year.
Jean-Marie Messier, chairman and CEO of Vivendi Universal, stated: “I am pleased that we achieved our ambitious target of 10% organic revenue growth in 2001, for the businesses resulting from Vivendi’s merger with Seagram and Canal+. Organic growth is, more than ever in today’s markets, the most important strength of Vivendi Universal.”
“Achieving the highest level of growth in our industry is a big differentiation of Vivendi Universal, and the operating management deserves recognition for fulfilling their growth objectives and outperforming their peers in a difficult year. Our 2001 results give us confidence that we can achieve our growth targets again in 2002.”
