Studiocanal Revenue Falls As Gaming, Pay TV Drive Vivendi Earnings
Growth at pay TV unit Canal+ Group and advertising giant Havas and record revenue at Gameloft helped drive 2022 earnings at French media and telecommunications conglomerate Vivendi.
The company posted revenue of 9.6 billion euros ($10.1 billion), 10.1 percent higher than in 2021, or up 5.1 percent when using constant currencies and focusing on the businesses that the company owns now. Earnings before interest, taxes and amortization (EBITA) rose 35.6 percent, or 24.6 percent on an adjusted basis, to 868 million euros ($916 million).
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Revenue at pay TV unit Canal+ climbed 1.7 percent, or 0.3 percent at constant currency and business perimeter, 5.9 billion euros ($6.2 billion), with StudioCanal’s revenue falling 22.8 percent at constant currency and perimeter after “the postponement of the release of international films to 2023 to optimize their box-office performance.” Nonetheless, EBITA rose 7.3 percent, or 3.4 percent, at Canal+ to 515 million euros ($543 million).
Ad powerhouse Havas recorded a revenue gain of 18.1 percent, or 9.2 percent at constant currency and perimeter,” to 2.8 billion euros ($3.0 billion), while EBITA after restructuring charges rose 19.7 percent to 286 million euros ($302 million).
Vivendi, led by CEO Arnaud de Puyfontaine, also said that 2022 revenue at game-maker Gameloft rose by 21.2 percent, or 19.4 percent on a constant currency and asset base, to hit an all-time high of 321 million euro ($338 million).
“This strong increase results from Gameloft’s strategic shift towards console-PC-mobile multi-platform games,” the company said. “For the fourth quarter of 2022, Gameloft’s revenues were 106 million euros, up 30.7 percent compared to the same period of 2021, crossing for the first time the symbolic threshold of 100 million euros for a quarter.” For all of 2022, Gameloft’s EBITA jumped 46.3 percent, or 8.1 percent, to 12 million euros.
Meanwhile, Vivendi’s share of the net earnings of Universal Music Group, in which it continues to hold a minority stake, amounted to 124 million euros ($131 million) in 2022, compared to 33 million euros in 2021.
“Vivendi has posted very solid operating results for 2022 with double-digit growth in EBITA and revenues. This excellent performance reflects the strong resilience of our culture, entertainment and information businesses,” CEO de Puyfontaine said. “Havas was particularly strong in 2022, with impressive and recurring growth rates from one quarter to the next. Canal+ Group improved its profitability and exceeded €500 million in EBITA. Gameloft’s revenues reached their highest level ever.”
