Vivendi registered a net profit of €405m in 2023, driven by growth from Havas and Canal+.
This is compared with a loss of €1bn in 2022.
In 2023, the group controlled by Vincent Bolloré crossed the €10bn revenue mark, with revenue increasing by 9.5% (2.6% at constant currency rates), supported by the full consolidation of publishing company Lagardère into its accounts on 1 December 2023.
Havas and Canal+ in ‘good shape’
In 2023, advertising holding arm Havas, led by Yannick Bolloré, saw revenue increase by €107m, or 3.9%, to €2.9bn.
Vivendi also benefited from positive results from Canal+ Group, with revenue up by €188m, or 3.2% year on year, to more than €6bn — down to the acquisition of 900,000 new subscribers and a “record year” for its film production subsidiary StudioCanal.
Canal+ was also strong on international development, as it passed the 35% share threshold for South African entertainment company MultiChoice Group. It also offered to acquire shares that MultiChoice did not already own, which was rejected by regulators, and Canal+ has since upped its offer by nearly 20%, putting its valuation of MultiChoice at nearly €2.7bn.
Canal+ also recently increased its stake in Viu, a Hong Kong streaming operator, to 30%, having already acquired 26.1% in June as part of “its ambition to make Asia its next growth driver”.
It has also taken a strategic stake in Viaplay, the leading pay-TV operator in the Nordics.
Meanwhile, the group’s other activities are down, including Prisma Media’s magazines, where revenues decreased by 3.4% to €309m, while Gameloft video games revenue dropped 3% to €311m.
Vivendi announced at the end of January the confirmation by its supervisory board to split the business into four entities. This would be effective in the first half of 2025.
These entities are: Canal+, Havas, a publishing and distribution company made up of Lagardère and Prisma, and an investment company.
Additional reporting by The Media Leader France
