Vivendi’s Q3 revenues rise slightly, ad unit growth offset by Canal+ slowdown
French media company Vivendi VIV.PA on Thursday reported third quarter revenue growth of 0.6% at constant exchange rates and on a like for like basis, helped by growth in its advertising unit Havas.
Sales at Havas came in at 665 million euros ($653.10 million), up 12.7% on a reported basis, or 3.2% at constant currencies and like-for-like.
The company added however that growth at Havas was offset by a slowdown in its pay-TV unit Canal+.
Canal+ revenues in the quarter dropped 4.9% at constant currencies and like-for-like, to 1.42 billion euros.
Regarding its planned takeover of Lagardere LAGA.PA, Vivendi said it was actively working to obtain the European Commission’s authorization.
Vivendi, whose top investor is French tycoon Vincent Bollore, is waiting for the European Union’s antitrust go-ahead to buy publishing and retail group Lagardere. In July Vivendi said it was considering selling its publishing unit Editis to secure the takeover.
Vivendi’s sales totalled 2.58 billion euros ($2.54 billion) in the third quarter, against 2.48 billion euros in the same quarter last year.
The group added it was confident for the remainder of the year, despite macroeconomic and geopolitical turbulence. Nasdaq