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Business Wire
31-07-2025
- Business
- Business Wire
Vivendi: Results for the First Half of 2025
PARIS--(BUSINESS WIRE)--Regulatory News: Yannick Bolloré, Chairman of Vivendi's (Paris:VIV) Supervisory Board, and Arnaud de Puyfontaine, Chief Executive Officer, said: 'Vivendi reported strong results for the first half of 2025. Our revenues increased by 8%, and EBITA improved by €47 million compared to the first half of 2024. This positive momentum reflects in particular the ongoing transformation of Gameloft, whose strong performance stands in contrast with the current trend in the video game sector. We also reduced corporate costs by €13 million and benefited from an increase in our share of the net earnings of Universal Music Group (UMG) of €14 million. During this first half of the year, we continued to optimize our portfolio of investments. The sale of almost all our TIM's shares marks our withdrawal from the telecoms sector, which is no longer a core business for us, and enables us to achieve a significant reduction in our financial net debt. In addition, the Group now owns more than 13% of Lagardère following the conclusion of the subsidiary offer of the takeover bid initiated on this company in 2022. True to our mission, we are pursuing the development of our activities in the content, media and entertainment industries, while continuing to manage our portfolio of investments and exploring new opportunities for value creation.' Comments on earnings This press release contains unaudited condensed financial results for the first half of 2025, established under IFRS 1, which were approved by Vivendi's Management Board on July 28, 2025, reviewed by Vivendi's Audit Committee on July 28, 2025, and by Vivendi's Supervisory Board on July 30, 2025. For the first half of 2025, Vivendi's revenues were €145 million, an increase of €11 million compared to the first half of 2024 (+8.4% at constant currency and perimeter). This increase reflects the good performance of Gameloft. For the same period, EBITA was €18 million, compared to -€29 million for the first half of 2024. EBITA included the following contributions: Gameloft: +€8 million (compared to -€12 million for the first half of 2024), an increase of €20 million (see below); Corporate: -€52 million (compared to -€65 million for the first half of 2024), an improvement of €13 million mostly due to recurring operating savings and favorable non-recurring effects; and Vivendi's share of the net earnings of UMG accounted for under the equity method: €62 million (compared to €48 million for the first half of 2024), an increase of €14 million. ____________________ 1 As a reminder, in accordance with IFRS 5, income and charges from distributed entities following the Vivendi spin-off on December 13, 2024, i.e., Canal+, Havas, Lagardère and Prisma Media, as well as income and charges from other discontinued entities, i.e., festival and ticketing activities, are reported as follows: their contribution until the date of their effective disposal to each line of Vivendi's Consolidated Statement of Earnings (before non-controlling interests) has been reported on the line 'Earnings from discontinued operations'; these adjustments have been applied to all periods presented to ensure consistency of information; and the share of net income has been excluded from Vivendi's adjusted net income. These adjustments were made in respect of data from the Consolidated Statements of Earnings and Cash Flows. Expand For the first half of 2025, earnings attributable to Vivendi SE shareowners amounted to a profit of €30 million (or €0.03 per share - basic), compared to €159 million for the first half of 2024 (€0.16 per share - basic). For the first half of 2024, it included the capital gain on the sale of festival and international ticketing activities (+€106 million) and the net earnings (before minority interests) of Canal+, Havas and Louis Hachette Group for an aggregate amount of +€93 million. These positive items were partially offset by the financial consequences of the settlement agreement entered into on June 28, 2024, with all institutional investors which put an end to the litigation relating to the Group's financial communications in the early 2000s (-€95 million). Dividends received from non-consolidated companies were €64 million in the first half of 2025 (€66 million for the first half of 2024). They included dividends from MediaforEurope (€30 million), Banijay Group (€29 million) and Lagardère (€5 million). As a reminder, in 2024, Lagardère's dividend was eliminated as an intra-group flow, as Lagardère was fully consolidated until December 13, 2024. In addition, for the first half of 2024, dividends from non-consolidated companies included the dividend from Telefonica (€9 million). As of June 30, 2025, the Financial Net Debt amounted to €1,768 million, compared to €2,573 million as of December 31, 2024; borrowings amounted to €1,940 million, compared to €2,647 million as of December 31, 2024; and cash, cash equivalents and cash management financial assets amounted to €172 million, compared to €74 million as of December 31, 2024. European Commission statement of objections On July 25, 2023, the European Commission announced that it had opened a formal investigation to determine whether, when acquiring Lagardère, Vivendi SE breached the notification requirement and standstill obligation set out in the EU Merger Regulation, as well as the conditions and obligations attached to the Commission's decision to approve the Vivendi/Lagardère transaction. On July 18, 2025, the European Commission sent a statement of objections to Vivendi regarding a potential early implementation of the takeover transaction of Lagardère SA. The Commission takes the preliminarily view that Vivendi breached three provisions of Regulation (EC) No 139/2004 on the control of concentrations by implementing the takeover of Lagardère SA before notifying the transaction (in breach of Article 4(1) of the Regulation), before obtaining authorization (Article 7(1)), and before the Commission's approval of the purchasers of the assets divested as remedies, Editis and Gala (Article 8(2)). This statement of objections initiates the adversarial phase of the proceedings, providing Vivendi with the opportunity to present all factual and legal arguments that, in its view, should justify clearing it of any wrongdoing and the closing of the proceedings. At this stage, according to this statement of objections, the Commission is considering imposing fines on Vivendi for these breaches under Article 14(2) of the aforementioned Regulation, pursuant to which the Commission may impose fines not exceeding 10% of the global turnover of the sanctioned company. Autorité des Marchés financiers (AMF) decision On April 22, 2025, the Paris Court of Appeal annulled the decision of the Autorité des Marchés financiers (AMF), the French securities regulator, on November 13, 2024, to the extent that it found that Bolloré SE did not control Vivendi SE, ruling that Mr. Vincent Bolloré controls Vivendi SE and accordingly instructing the AMF to reassess whether a public buyout offer for Vivendi SE shares must be launched. Bolloré SE and Vivendi SE filed appeals before the French Supreme Court against the decision of the Paris Court of Appeal on April 28 and 30, 2025, respectively. The hearing before the French Supreme Court is scheduled for November 25, 2025. On July 18, 2025, the AMF determined that the Bolloré Group and Mr. Vincent Bolloré are required to launch a public buyout offer for Vivendi SE within six months. The AMF stated that it would ensure the offer does not close until after the French Supreme Court has issued its ruling. Bolloré SE filed an appeal before the Paris Court of Appeal seeking the annulment of this decision. Vivendi SE also filed an appeal with the same objective. Co-optation of Mr. Bernard Osta to the Supervisory Board On July 30, 2025, Vivendi's Supervisory Board decided to co-opt Mr. Bernard Osta (see biography before the appendices) to replace Mr. Philippe Labro, who passed away on June 4, 2025, effective as of that date and for the remainder of the latter's term, i.e., until the Annual General Shareholders' Meeting to be called to approve the 2026 financial statements. This co-optation will be submitted for ratification at the next General Shareholders' Meeting. Financial comments on Gameloft For the first half of 2025, Gameloft's revenues were €143 million, an increase of 8.4% at constant currency and perimeter compared to the first half of 2024. This amount included €65 million for the PC/console segment and €71 million for the Mobile segment. PC/console revenues represented 45% of Gameloft's total revenues, representing an18.0% increase at constant currency and perimeter compared to the first half of 2024. Mobile revenues represented 50% of Gameloft's total revenues, remaining stable at constant currency and perimeter compared to the first half of 2024. Disney Dreamlight Valley, Asphalt Legends Unite, Disney Magic Kingdoms, March of Empires, and Disney Speedstorm were the five best-selling games for the first half of 2025 and represented 57% of Gameloft's total revenues. For the first half of 2025, Gameloft's EBITA was €8 million, a significant improvement of €20 million compared to the first half of 2024. Due to the resilience of its catalogue, the strong performance of Disney Dreamlight Valley and the implementation of its cost reduction plan, Gameloft has achieved its objective of structural profitability. Excluding restructuring charges, EBITA increased by €15 million (€8 million compared to -€7 million for the first half of 2024). For additional information, please refer to the 'Financial Report and Unaudited Condensed Financial Statements for the Half-Year ended June 30, 2025' to be released tonight (Paris time) on Vivendi's website ( About Vivendi Since its creation, Vivendi has established itself as a player in content, media and entertainment, developing a portfolio of both listed and unlisted assets, each a leader in its market. Vivendi owns 100% of Gameloft, a world-renowned video game publisher that successfully develops multi-platform games for consoles, PCs, and mobile devices. Vivendi's asset portfolio includes minority stakes in leading publicly traded companies: Universal Music Group and Banijay Group in content and entertainment, and MediaForEurope and Prisa in media and telecommunications. In addition, Vivendi owns a stake in the publishing and travel retail sector with Lagardère and a residual stake in telecoms with TIM in Italy. Leveraging its strategic and economic expertise, Vivendi anticipates global dynamics and participates in the transformations of the sectors in which the group operates, notably the digital revolution and new consumer uses of content. Vivendi supports value-creating companies, offering sustainable prospects and a positive contribution to the evolution of our society. Guided by a long-term vision and a constant drive for innovation, the group relies on experienced teams to identify and support sustainable growth projects. Corporate Social Responsibility (CSR), a commitment made in 2003, is at the heart of Vivendi's strategy and shapes each of its decisions. Important Disclaimers Cautionary Note Regarding Forward-Looking Statements. This press release may contain forward-looking statements with respect to Vivendi's financial condition, results of operations, business, strategy, plans and outlook, including the impact of certain transactions and the payment of dividends and distributions, as well as share repurchases. Although Vivendi believes that such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of Vivendi's future performance. Actual results may differ materially from the forward-looking statements as a result of a number of risks and uncertainties, many of which are outside our control, including, but not limited to, the risks related to antitrust and other regulatory approvals as well as any other approvals which may be required in connection with certain transactions, as well as the risks described in the documents of the Group filed by Vivendi with the Autorité des Marchés Financiers (the French securities regulator), which are also available in English on Vivendi's website ( Investors and security holders may obtain a free copy of documents filed by Vivendi with the Autorité des Marchés Financiers at or directly from Vivendi. Accordingly, we caution readers against relying on such forward-looking statements. These forward-looking statements are made as of the date of this press release. Vivendi disclaims any intention or obligation to provide, update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Unsponsored ADRs. Vivendi does not sponsor an American Depositary Receipt (ADR) facility in respect of its shares. Any ADR facility currently in existence is 'unsponsored' and has no ties whatsoever to Vivendi. Vivendi disclaims any liability in respect of any such facility. Biography of Mr. Bernard Osta Bernard Osta is the Chief Financial Officer of Vestiaire Collective. Before joining Vestiaire Collective, Bernard Osta spent 15 years in Investment Banking. He started his career in the Mergers and Acquisitions division of Lazard Frères, in New York (2006 to 2009) and Paris (2009 à 2011). In 2011, he joined the Investment Banking Division of Goldman Sachs based in Paris where he held the position of Executive Director. During his investment banking career, Bernard Osta advised companies globally on complex M&A, equity financing and debt financing transactions. In 2021, Bernard Osta joined e-commerce platform Vestiaire Collective as Chief Strategy Officer. Since September 2023, he has held the position of Chief Financial Officer. He graduated from HEC Paris (Master of Science in Management). In millions of euros, except per share amounts. na: not applicable. *non-GAAP measures. As a reminder, in accordance with IFRS 5, income and charges from distributed entities following the Vivendi spin-off on December 13, 2024, i.e., Canal+, Havas, Lagardère and Prisma Media, as well as income and charges from other discontinued entities, i.e., festival and ticketing activities, are reported as follows: their contribution until the date of their effective disposal to each line of Vivendi's Consolidated Statement of Earnings (before non-controlling interests) has been reported on the line 'Earnings from discontinued operations'; these adjustments have been applied to all periods presented to ensure consistency of information; and the share of net income has been excluded from Vivendi's adjusted net income. 'EBITA' and 'adjusted net income', both non-GAAP measures, should be considered in addition to, and not as a substitute for, other GAAP measures of operating and financial performance. Vivendi considers these to be relevant indicators for the group's operating and financial performance. Vivendi's Management uses EBITA and adjusted net income for reporting, management and planning purposes because they exclude most non-recurring and non-operating items from the measurement of the business segments' performances. For any additional information, please refer to the 'Financial Report for the half-year 2025', which will be released online later on Vivendi's website ( Expand Adjusted Statement of Earnings Six months ended June 30, % Change (in millions of euros) 2025 2024 Revenues 145 134 +8.0 % Adjusted earnings before interest and income taxes (EBITA) 18 (29) na Interest (42) 44 Income from investments 80 68 Adjusted earnings from continuing operations before provision for income taxes 56 83 -31.8 % Provision for income taxes (2) 58 Adjusted net income before non-controlling interests 54 141 Non-controlling interests - - Adjusted net income 54 141 -61.6 % na: not applicable. Expand Quarterly revenues: 2025 (in millions of euros) Three months ended March 31, Three months ended June 30, Revenues Gameloft 68 75 Other 1 1 Elimination of intersegment transactions - - Total Vivendi 69 76 2024 (in millions of euros) Three months ended March 31, Three months ended June 30, Three months ended September 30, Three months ended December 31, Revenues Gameloft 68 64 69 92 Other 1 1 - 2 Elimination of intersegment transactions - - - - Total Vivendi 69 65 69 94 Expand EBITA Six months ended June 30, (in millions of euros) 2025 2024 Change EBITA Gameloft 8 (12) +20 Corporate (52) (65) +13 Vivendi's share of Universal Music Group's earnings (a) 62 48 +14 Other - - - Total Vivendi 18 (29) +47 a. Includes share of earnings of companies accounted for by Vivendi under the equity method. Expand APPENDIX III VIVENDI - CONDENSED STATEMENT OF FINANCIAL POSITION (IFRS, unaudited) (in millions of euros) June 30, 2025 (unaudited) December 31, 2024 ASSETS Goodwill 264 264 Non-current content assets 18 16 Other intangible assets 1 2 Property, plant and equipment 41 41 Rights-of-use relating to leases 31 35 Investments in equity affiliates 4,380 4,371 Non-current financial assets 2,219 2,952 Deferred tax assets 10 10 Non-current assets 6,964 7,690 Inventories - - Current tax payables 20 29 Current content assets - - Trade accounts receivable and other 97 93 Current financial assets 70 70 Cash and cash equivalents 172 39 359 232 Assets of discontinued businesses 4 7 Current assets 363 239 TOTAL ASSETS 7,327 7,929 EQUITY AND LIABILITIES Share capital 566 566 Additional paid-in capital 865 865 Treasury shares (406) (415) Retained earnings and other 3,792 3,576 Vivendi SE shareowners' equity 4,817 4,592 Non-controlling interests - - Total equity 4,817 4,592 Non-current provisions 142 162 Long-term borrowings and other financial liabilities 1,495 1,993 Deferred tax assets 141 142 Long-term lease liabilities 24 29 Other non-current liabilities - - Non-current liabilities 1,802 2,326 Current provisions 42 46 Short-term borrowings and other financial liabilities 461 668 Trade accounts payable and other 157 229 Short-term lease liabilities 13 12 Current tax payables 2 3 675 958 Liabilities associated with assets of discontinued businesses 33 53 Current liabilities 708 1,011 TOTAL LIABILITIES 2,510 3,337 TOTAL EQUITY AND LIABILITIES 7,327 7,929 Expand
International Business Times
01-07-2025
- Business
- International Business Times
Max-Hervé George: From French Prodigy to Architect of a €10 Billion Investment Platform
At 36 years old, Metz-born Max-Hervé George already straddles two worlds many financiers never bridge: the gilded circles of luxury hospitality and the button-down boardrooms of institutional capital. His new group formation, SWI Group, manages more than €10 billion in assets, following this spring's merger of London-based Icona Capital and Swiss real-assets house Stoneweg a deal Max-Hervé George personally fusioned and now co-leads. A Head Start in High Stakes Max-Hervé George's appetite for outsized bets surfaced early. Bornin Metz, France, he left law school at 21 to flip his first commercial property near Geneva and ploughed the profits into what would become Ultima Capital. By 2012 he was co-founding Ultima's ultra-luxury chalet portfolio; the flagship Ultima Gstaad opened in 2016 and helped land him on Forbes' "30 Under 30" list three years later. In 2023 he sold his remaining 33 % stake in Ultima for a reported US $1.4 billion enterprise value. Icona Capital: The Dry Run Operating out of London, Icona Capital specialised in "special-situations real estate" value-add deals like Ireland's Liffey Park tech campus and a Madrid logistics conversion. But Icona also revealed Max-Hervé George's wider ambitions: in 2022 it snapped up 40 % of Stoneweg, seeding an €8 billion platform that foreshadowed today's SWI Group. SWI Group: Scale Meets Governance The March 2025 unification of Icona and Stoneweg under the SWI banner instantly vaulted Max-Hervé George into the European big league: 350 employees, 26 offices across 18 countries, and a balance-sheet that spans data centres, logistics boxes, city-centre offices and a nascent sports-and-entertainment vertical. RathFollowing the launch of SWI Group, Max-Hervé George announced an International Strategic Advisory Board chaired by Vivendi boss Arnaud de Puyfontaine, wealth-management veteran Simon Benhamou and real-asset guru Olivier Jollin. Their remit: apply Fortune-500 discipline to a millennial-led growth story. It was a signal to pensions and sovereign funds that SWI's break-neck expansion would come with adult supervision. Management Style: High Velocity, High Visibility Although Max-Hervé George's public persona is by nature private, a single LinkedIn post announcing SWI's board hit 120,000 impressions, buoyed by congratulatory emojis from Formula 1 star Charles Leclerc and football icon Andrés Iniesta, both newly minted special advisers to SWI's Sports & Entertainment Committee. That digital fluency pays practical dividends: the firm's €500 million green bond in May priced 130 bps over mid-swaps and closed 3.8 × oversubscribed, an outlier result in a jittery credit market. Asia on the Radar Singapore bankers whisper that Max-Hervé George is eyeing Marina Bay for his first Asia hub hardly surprising given Southeast Asia's forecast 15–20 % CAGR in data-centre demand. Asked by IBT Singapore about the rumour, he responds humbly "Singapore has many opportunities and one would be lucky to get a stake". Beyond the Balance Sheet Friends describe Max-Hervé George as "relentlessly competitive" traits perhaps rooted in his stint handing out heavyweight judo medals at the Tokyo Olympics and his Aries star-sign bravado. Yet colleagues note a softer angle: hands-on mentoring of scholarship students and a private foundation that bankrolls children's oncology research.. What Comes Next Over coffee in London's Fitzrovia, Max-Hervé George outlines a three-year roadmap: 2 GW hyperscale build-out across five European countries, stitched together via SWI's AiOnX platform. €1.2 bn private-credit fund to finance grid upgrades underpinning those data centres. Sports/Media JV that pairs elite athletes with content studios "patronage for the TikTok age," he quips. Each pillar, he argues, leverages the same formula: institutional capital plus pop-culture "brand gravity" plus a forensic ESG audit trail. The Takeaway Max-Hervé George's rise reads like a millennial fairy-tale lavish chalets nine-figure exits but the through-line is unusually clear: bet early, be agile but aggressive, scale fast, and professionalise governance before the sceptics ask. If he can keep that balance, France's onetime "golden boy" may yet redefine how a new generation of asset managers talks to the world's most conservative capital.
Business Wire
28-04-2025
- Business
- Business Wire
Vivendi: Significant Decrease in the Financial Net Debt in the First Quarter of 2025
PARIS--(BUSINESS WIRE)--Regulatory News: Yannick Bolloré, Chairman of Vivendi's (Paris:VIV) Supervisory Board, and Arnaud de Puyfontaine, Chief Executive Officer, said: '2025 represents a new chapter in Vivendi's history and a year of reinvention after having split the Group in December of last year. During the first quarter of 2025, as part of the dynamic management of its equity interests, Vivendi decided to focus on the content, media and entertainment sectors. Our divestment from the telecoms industry led us to sell most of our stake in TIM, resulting in a substantial decrease in our financial net debt. Meanwhile, Gameloft continued to rebalance its games portfolio between the PC/console and mobile segments in line with the transformation strategy we have been pursuing for several years. The composition of the Supervisory Board and the Management Board was also reviewed and adjusted during this period to reflect the new scale of our company. Vivendi owns a portfolio of high-quality assets and maintains a solid balance sheet in the face of a turbulent and uncertain economic and stock market environment. We remain convinced of the soundness of our decision to split the Group at the end of 2024, and confident in the ability of this transaction to create value for all stakeholders.' Vivendi's revenues For the first quarter of 2025, Vivendi's revenues 1 were €69.4 million, stable compared to the first quarter of 2024 (+0.6% and +0.3% at constant currency and perimeter). Gameloft For the first quarter of 2025, Gameloft's total revenues were €68.5 million, including €31.9 million from the PC/console segment and €33.3 million from the Mobile segment, representing a slight increase (+0.6% and +0.3% at constant currency and perimeter) in total revenues compared to the first quarter of 2024. PC/console revenues now represent 46% of total revenues and were up 13.5% at constant currency and perimeter compared to the first quarter of 2024. Mobile revenues represented 49% of total revenues, down 10.5% at constant currency and perimeter compared to the first quarter of 2024. Disney Dreamlight Valley, Asphalt Legends Unite, Disney Magic Kingdoms, March of Empires, and Disney Speedstorm were the five best-selling games in the first quarter of 2025 and represented 56% of Gameloft's total revenues. In the first quarter of 2025, Gameloft launched Carmen Sandiego, first on Netflix in January, and then on PC and console platforms in March. The launch thrilled fans of the franchise and was covered in over 50 articles in the specialist press, noting the game's faithfulness to the original. Change in the Group's listed investments About Vivendi Since its creation, Vivendi has established itself as a player in content, media and entertainment, developing a portfolio of both listed and unlisted assets, each a leader in its market. Vivendi owns 100% of Gameloft, a world-renowned video game publisher that successfully develops multi-platform games for consoles, PCs, and mobile devices. Vivendi's asset portfolio includes minority stakes in leading publicly traded companies: Universal Music Group and Banijay Group in content and entertainment, and MediaForEurope and Prisa in media and telecommunications. In addition, Vivendi owns a stake in the publishing and travel retail sector with Lagardère and a residual stake in telecoms with TIM. Leveraging its strategic and economic expertise, Vivendi anticipates global dynamics and participates in the transformations of the sectors in which the group operates, notably the digital revolution and new consumer uses of content. Vivendi supports value-creating companies, offering sustainable prospects and a positive contribution to the evolution of our society. Guided by a long-term vision and a constant drive for innovation, the group relies on experienced teams to identify and support sustainable growth projects. Corporate Social Responsibility (CSR), a commitment made in 2003, is at the heart of Vivendi's strategy and shapes each of its decisions. Important Disclaimers Cautionary Note Regarding Forward-Looking Statements. This press release may contain forward-looking statements. Although Vivendi believes that such statements are based on reasonable assumptions, they are not guarantees of future performance. Actual results may differ materially from the forward-looking statements as a result of a number of risks and uncertainties, many of which are beyond Vivendi's control, including, but not limited to the risks described in the documents filed by Vivendi with the Autorité des Marchés Financiers (the French securities regulator), which are also available in English on Vivendi's website ( Investors and security holders may obtain free copies of documents filed by Vivendi with the Autorité des Marchés Financiers at or directly from Vivendi. These forward-looking statements are made as of the date of this press release. Vivendi disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Unsponsored ADRs. Vivendi does not sponsor an American Depositary Receipt (ADR) facility in respect of its shares. Any ADR facility currently in existence is 'unsponsored' and has no ties whatsoever to Vivendi. Vivendi disclaims any liability in respect of any such facility. Gameloft : As a reminder, quarterly revenues in 2024, were as follows: APPENDIX II VIVENDI NET ASSET VALUE (unaudited) Vivendi's Net Asset Value (NAV) is calculated as the Value of the Investment Portfolio less the Adjusted Financial Net Debt and other liabilities. The Value of the Investment Portfolio is calculated as the sum of the (i) fair market value of Vivendi's investments in listed companies based on the closing market price on the last day of the period; (ii) the value in use of Gameloft, unlisted company; (iii) the fair market value of treasury shares based on the closing market price on the last day of the period. Adjusted Financial Net Debt is calculated as the difference between (iv) borrowings (recognized at amortized cost); and (v) cash, cash equivalents and cash deposits allocated to borrowings; as well as (vi) the loan to Lagardère (including accrued interest). The per-share NAV is determined by dividing the NAV by the number of shares outstanding at the end of the period (including treasury shares). Included 2,299,420 thousand ordinary Telecom Italia shares (representing 10.77% of its share capital), sold to Poste Italiane on April 3, 2025 and valued at a sale price of €0.2975 per share for a total consideration of €684 million. Included 56,210 thousand A shares and 56,209 thousand B shares. Vivendi held 37,684 thousand treasury shares, representing 3.66% of its share capital, of which 32,147 thousand shares were allocated to share cancellations, 2,843 thousand shares were allocated to covering employee shareholding plans and 2,694 thousand shares were allocated to covering performance share plans Included cash collateral related to bilateral structured financing agreements (€270 million as of March 31, 2025, compared to €35 million as of December 31, 2024). Includes consolidated data established in IFRS standards. Includes employee benefit reserves, intrinsic value of Lagardère share transfer rights, and non-recurring transaction costs incurred in connection with the Vivendi spin-off and the remaining to be paid. 1 This press release contains unaudited consolidated revenues established under IFRS. 2 15.00% of ordinary shares and voting rights (representing 10.77% of the share capital). 3 Ordinary shares and voting rights (representing 12.56% of the share capital).
