Vivendi: Strong Growth of the Group’s Operating Activities and EBITA in 2022

Rhea-AI Summary

Vivendi reported a 10.1% increase in revenues for 2022, totaling €9.6 billion, attributed to strong performances from Havas, Canal+ Group, and Gameloft. EBITA surged 35.6% to €868 million, aided by contributions from Universal Music Group and Lagardère. Despite this growth, adjusted net income excluding Telecom Italia rose 19.4% to €677 million, while the company faced a loss of €1.0 billion attributable to Vivendi SE shareowners, primarily due to the deconsolidation of Telecom Italia. Vivendi aims to strengthen its position through international expansion and strategic acquisitions.

Positive

• Revenue growth of 10.1% to €9.6 billion.
• EBITA grew 35.6% to €868 million.
• Adjusted net income excluding Telecom Italia rose 19.4% to €677 million.
• Solid performance from Gameloft, contributing to overall revenue increase.
• Continued strategic acquisitions by Havas enhancing growth prospects.

Negative

• Loss of €1.0 billion attributable to Vivendi SE shareowners.
• Deconsolidation of Telecom Italia impacted earnings significantly.
• Goodwill impairment loss of €300 million related to Editis.

• Revenues increased by 10.1% to €9.6 billion, driven by the activities of Havas and Canal+ Group, as well as a historically high contribution from Gameloft
• EBITA grew 35.6% to €868 million thanks to the solid operating performance of the businesses (+10.0% on their own) and the contributions of Universal Music Group (UMG) and Lagardère
• Adjusted net income excluding Telecom Italia increased by 19.4% to €677 million
• Earnings attributable to Vivendi SE shareowners amounted to a loss of €1.0 billion, mainly due to the deconsolidation of Telecom Italia, after having recorded a record profit in 2021 related to the deconsolidation of UMG
• Editis/Lagardère: continuing constructive dialogue with the European Commission and discussions with potential buyers of Editis with the aim of submitting a remedy proposal around mid-March

PARIS--(BUSINESS WIRE)-- Regulatory News:

Vivendi (Paris:VIV):

Yannick Bolloré, Chairman of Vivendi’s Supervisory Board, said: "2022 was a solid year for Vivendi. Our main businesses have shown considerable dynamism, ensuring the group’s more than satisfactory performance even with the exit of Universal Music Group (UMG) from our consolidation scope in 2021. On behalf of the group’s Supervisory Board, I want to congratulate all the Vivendi teams for contributing to this performance. I would also like to thank all our customers, talents, authors, and creative teams for their trust.

We have made good progress in implementing our strategic roadmap, which focuses on transformation, internationalization and greater integration of our businesses. The record result posted by Gameloft in 2022 is an excellent example of this, with the success of its transformation by making video games available on all platforms.

Vivendi's international development, accompanied by a strong local presence, continued in 2022, making it more agile in a highly competitive environment. Havas made eight targeted acquisitions in Europe, Australia, and China. Canal+ Group strengthened its position on the European continent and in Africa. The planned transaction with the Lagardère group is part of this internationalization process.

The harmonious and intelligent integration of our businesses has been greatly facilitated by a management team, renewed in 2022, that is dynamic and united around the fundamental driving force behind our group: creation.

I also would like to recognize the progress made in environment, social and societal issues.

Vivendi is moving into 2023 with confidence. Nevertheless, we remain attentive to the macro-economic and geopolitical context.

Arnaud de Puyfontaine, Chairman of Vivendi's Management Board, added: "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. These businesses alone are responsible for 10% of the EBITA growth. Including the contributions of our interests in Universal Music Group (UMG) and Lagardère, EBITA growth was even higher at 35.6%.

In addition, the group's financial situation is robust, with net debt under control, good cash flow generation and significant available credit lines.

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.

I would also like to commend the dynamism of Prisma Media's teams. We are extremely proud to have been entrusted with the February launch of the French edition of Harper's Bazaar, a legendary fashion and style brand. Many more projects and new publications will be launched in the coming months.

We are engaged in a constructive dialogue with the European Commission with a view to obtaining approval for our proposed transaction with Lagardère in the coming months. We are also pursuing discussions with the potential buyers of Editis with the aim of submitting a remedy proposal around mid-March"

2022 KEY FIGURES (in millions of euros)		% change year-on-year	% change year-on-year at constant currency and perimeter1
Revenues	€9,595 M	+10.1%	+5.1%
EBITA of the Business units2	€646 M	+10.0%	+4.5%
EBITA2	€868 M	+35.6%	+24.6%
Adjusted net income excluding Telecom Italia2,3	€677 M	+19.4%

• Comments on earnings

This press release contains audited consolidated financial results for the fiscal year ended December 31, 2022, established under IFRS, which were approved by Vivendi’s Management Board on March 6, 2023, reviewed by Vivendi’s Audit Committee on March 6, 2023, and by Vivendi’s Supervisory Board on March 8, 2023.

As of December 31, 2022, in accordance with IFRS 5, Vivendi decided, given the plan to sell Editis, that its contribution to the group’s activities would be reported in “Earnings from discontinued operations” for 2021 and 2022.

Revenues

In 2022, Vivendi’s revenues were €9,595 million, an increase of 10.1% compared to 2021, mainly due to the performance of Havas (+€424 million), the growth of Canal+ Group (€100 million) and the very strong increase of Gameloft (€56 million).

Revenues also benefited from the recovery of the ticketing and live activities (+€136 million) after two years of health crisis. It also included the contribution of Prisma Media (+€126 million) consolidated over the full twelve months in 2022, compared to just seven months in 2021 (since June 1, 2021). At constant currency and perimeter¹, Vivendi’s revenues grew by 5.1%, compared to 2021.

EBITA

EBITA was €868 million, an increase of 35.6% compared to 2021. It included Vivendi’s share of the net earnings of Universal Music Group (UMG) for €124 million, compared to €33 million in 2021 (accounted for under the equity method as from September 23, 2021) and Lagardère for €98 million, compared to €19 million in 2021 (accounted for under the equity method as from July 1, 2021).

Excluding Vivendi’s share of UMG and Lagardère’s net earnings, EBITA increased by 10.0%, mainly due to the growth of Havas (+€47 million) and Canal+ Group (+€35 million).

At constant currency and perimeter¹, EBITA increased by 24.6% and by 4.5%, excluding Vivendi’s share of UMG and Lagardère’s net earnings.

Adjusted net income

Adjusted net income was a profit of €343 million (or €0.33 per share - basic), compared to €613 million (or €0.57 per share - basic) in 2021.

The unfavorable change in Vivendi’s share of Telecom Italia’s net earnings (-€380 million) was partially offset by the increase in EBITA (+€229 million). Excluding the share of Telecom Italia’s net earnings, adjusted net income was a profit of €677 million, up +19.4%.

As a reminder, in 2021, adjusted net income included an extraordinary dividend received from MediaForEurope for €102 million.

Earnings attributable to Vivendi SE shareowners

Earnings attributable to Vivendi SE shareowners amounted to a loss of €1,010 million (or -€0.98 per share - basic), compared to a profit of €24,692 million (or €22.94 per share - basic) in 2021 which included the capital gain on the deconsolidation of the 70% interest in UMG. It includes:

• the fair value adjustment of the Telecom Italia shares leading to a loss on deconsolidation
  of -€1,347 million (-€728 million in 2021). As of December 31, 2022, as Vivendi no longer has a significant influence on this company following the resignation of its two representatives from the Telecom Italia Board of Directors, it no longer accounts for its interest in Telecom Italia under the equity method.
  Therefore, in accordance with IAS 28, Vivendi recorded the difference between the carrying value of its interest in Telecom Italia as of December 31, 2022 (€0.5864 per share) and the fair value calculated on the basis of the share price at that date (€0.2163 per share);
• Vivendi’s share of the net earnings of Telecom Italia of -€393 million (-€13 million in 2021). This amount is calculated based on the financial information publicly disclosed by Telecom Italia, corresponding to the fourth quarter of 2021 and the first nine months of 2022 due to a three-month reporting lag;
• the increase in EBITA of €229 million;
• the capital gain of €515 million realized on June 30, 2022, following the contribution of Vivendi’s interest in Banijay Group Holding to FL Entertainment realized, prior to the public listing of the latter on July 1, 2022;
• Earnings from discontinued operations. As of December 31, 2022, in accordance with IFRS 5, given the plan to sell Editis, Editis’s contribution to the group’s activities was reported in “Earnings from discontinued operations”.
• In addition, Vivendi has tested the value of goodwill allocated to Editis. In accordance with IFRS 5, Editis’s recoverable amount was calculated at the lower of its carrying value and fair value, less costs to divest. In practice, the value was based on the sale of Editis to a potential buyer having considered offers received by Vivendi. On this basis, Vivendi concluded that, as of December 31, 2022, Editis’s recoverable amount was less than its carrying amount, which led to a goodwill impairment loss of €300 million.
  Excluding this impairment, the contribution of Editis (before non-controlling interests) was a profit of €2 million, compared to €30 million in 2021.

In 2021, IFRS 5 was similarly applied to UMG. In 2021, Earnings attributable to Vivendi SE shareowners included notably the capital gain on the deconsolidation of the 70% interest in UMG of €24,840 million after taxes.

• Liquidity

As of December 31, 2022, Vivendi’s financial net debt amounted to €860 million compared to a net cash position of €348 million as of December 31, 2021. This change during fiscal year 2022 was mainly due to Vivendi’s investment in Lagardère as part of its public tender offer on the group and Canal+ Group’s investment in MultiChoice Group.

In addition, Vivendi has significant financing capacity. As of December 31, 2022, €2.8 billion of the group’s committed credit facilities were available, and Vivendi’s consolidated shareowners’ equity amounted to €17.6 billion.

• Lagardère

At the end of the friendly public tender offer for the shares of Lagardère filed on February 21, 2022, Vivendi owned 57.35% of the company’s share capital. On December 31, 2022, following the exercise of transfer rights at a price of €24.10 granted under the subsidiary leg of the public tender, Vivendi held 57.66% of Lagardère’s share capital. As of the same date, Vivendi owns 22.81% of the theoretical voting rights pending approval of the takeover of Lagardère by the competition authorities pursuant to the European Merger Control Regulation.

Vivendi notified its proposed transaction with Lagardère to the European Commission on October 24, 2022 and submitted its commitments on December 11, 2022. On November 30, 2022, the European Commission announced the opening of an in-depth investigation. The Commission is expected to issue its decision by June. In the meantime, Vivendi is continuing its dialogue with the European Commission on the remedies that could be offered. In parallel, it is continuing its discussions with the potential buyers of Editis.

The transaction with Lagardère, if authorized by the European Commission, will consolidate Vivendi’s strong industrial ambitions by making significant investments, notably in quality content in France and abroad. This transaction is also intended to create a global best-in-class publisher that will promote creation, authors, knowledge and culture in an integrated and powerful way with synergies in audiovisual, thus creating new opportunities for the authors and giving a new impetus to culture. It will enable Lagardère to seize external growth opportunities in the areas in which it operates, thereby giving it the means to develop.

• Returns to shareholders

Since January 1, 2022, Vivendi has repurchased 30.5 million of its own shares (i.e., 2.76% of its share capital) for an aggregate amount of €325.3 million under the current share repurchase program. As of March 8, 2023, Vivendi holds 78.2 million treasury shares, representing 7.1% of the share capital.

• Shareholders’ meeting on April 24, 2023

At the General Shareholders’ Meeting to be held on April 24, 2023, shareholders will be asked to renew two share repurchase authorizations granted in April 2022:

• One resolution will propose the renewal of the authorization given to the Management Board by the General Shareholder’s Meeting of April 25, 2022, to repurchase shares at a maximum price of €16 per share, up to a limit of 10% of the share capital (2023-2024 program), with the option of canceling the shares acquired up to a limit of 10% of the capital.
• The other will concern the renewal of the authorizations granted to the Management to purchase shares of the company pursuant to a Public Share Buyback Offer (OPRA) at a maximum price of €16 per share up to a limit of 50% of Vivendi’s share capital (or 40%, depending on repurchases made under the new share repurchase program that are deducted from this 50% limit), and to cancel the shares acquired.

The General Shareholders’ Meeting will vote on the proposal to distribute an ordinary cash dividend of €0.25 per share in respect of fiscal year 2022, identical to the dividend paid last year. This amount represents a yield of 2.5% compared to the closing price of Vivendi shares on December 31, 2022. The ex-dividend date would be April 25, 2023, and payment would occur as from April 27, 2023.

The General Shareholders' Meeting will also be asked to renew the term of office of Cyrille Bolloré as a member of the Supervisory Board and to appoint Sébastien Bolloré, an entrepreneur based in the Asia-Pacific region with expertise in new media, video games and technological developments (see biography appearing before the appendices). The term of office of Mr. Dominique Delport, who has not sought reappointment, will expire at the end of the General Meeting on April 24, 2023.

In addition, Vincent Bolloré is not seeking renewal of his term of office as a non-voting board member (censeur).

• Corporate Social Responsibility and ESG performance

As part of its Creation for the Future CSR (Corporate Social Responsibility) program, Vivendi has set a common course for the entire group up to 2025 and, in the case of environmental commitments, 2035. In 2022, the group intensified its efforts to help build a more inclusive society and contribute to the fight against climate change.

Among the group's most notable advances in environmental matters, Vivendi reduced its greenhouse gas emissions (scope 1 and 2) by 10% in 2022 compared to 2021, and 37% of the energy used by the group worldwide now comes from renewable energies (+16 points compared to 2021).

In terms of social issues, in 2022, Vivendi increased the proportion of women in its workforce by one point to 53% compared to 2021 and in its management bodies by three points to 38%⁴ Vivendi has set a gender parity target of 40% of its management bodies by 2023. In addition, 91% of the group's employees⁵ have been trained in the anti-corruption system, an increase of eight points compared to 2021.

In terms of social responsibility, Vivendi launched the Vivendi Mentorat program in mainland France as part of the French government's "1 Jeune, 1 Solution” (1 Young Person, 1 Solution) initiative. In 2022, some 104 mentors from all the group’s businesses accompanied and supported, during working hours, 120 young people whose social or territorial background or life path make professional integration more difficult.

• Comments on the Businesses Key Financials

Canal+ Group

At the end of December 2022, Canal+ Group’s total subscriber portfolio (individual and collective) reached 25.5 million, compared to 23.7 million at the end of December 2021. In 2022, Canal+ Group's revenues were €5,870 million, up 1.7% compared to the end of December 2021 (+0.3% at constant currency and perimeter).

Revenues from television operations in mainland France increased by 1.6% at constant currency and perimeter compared to 2021, driven mainly by further growth in the subscriber base. The total subscriber base in mainland France recorded a net increase in subscribers of 457,000 over the past twelve months and reached 9.5 million subscribers.

Revenues from international operations increased by 3.5% at constant currency and perimeter compared to 2021, thanks again to the significant growth in the number of subscribers (+1.3 million year-on-year). The total subscriber portfolio outside mainland France stood at 16.0 million subscribers at the end of December 2022.

Studiocanal’s revenues decreased by 22.8% at constant currency and perimeter. Studiocanal was the year’s leading French film distributor, with 8.9 million admissions. 2022 was marked by record-breaking performances from the catalog and theatrical releases (November, Rise, Superwho?, Goliath, Waiting for Bojangles, etc.). The drop in revenues was due entirely to the fact that 2021 was an exceptional year for TV series (War of the Worlds Season 3, Stay Close, Now and Then, Un Asunto Privado, etc.) and to the postponement of the release of international films to 2023 to optimize their box-office performance. This revenue decrease had no impact on EBITA, which increased compared to 2021.

In 2022, Canal+ Group’s profitability improved compared to 2021. EBITA amounted to €515 million, an increase of 7.3% (+3.4% at constant currency and perimeter). During the fourth quarter of 2022, Canal+ Group further strengthened its content offerings with, in particular:

• the arrival on December 1^st of Paramount+, the global streaming service from Paramount Global, within Canal+ offers. Canal+ Group is the only market player in France that can include Paramount+ in its commercial offers and is the exclusive distributor of Paramount+ in French-speaking Switzerland. Paramount+ completes Canal+'s already very rich offer, which includes Netflix, Disney+ (exclusive distribution arrangement), beIN (exclusive distribution arrangement) and OCS;
• the exclusive broadcasting rights for the ARES French Fighting Championship until 2027 in all
  Canal+ Group territories;
• the acquisition of the broadcasting rights in Austria of the first-pick game of the UEFA Champions League on Wednesday evening and the first-pick game of the UEFA Europa League or UEFA Europa Conference League in each match week starting from 2024; and
• the continued collaboration with the French Motor Sports Federation for exclusive coverage of the French Rally Championship until 2025.

On January 9, 2023, Canal+ Group and Orange announced the signing of a memorandum of understanding regarding the acquisition by Canal+ Group of all shares of the OCS pay-TV package and in Orange Studio, the film and series co-production subsidiary, held by Orange.

Finally, on February 10, 2023, Canal+ Group, the largest shareholder of MultiChoice Group since September 2021, announced that it now holds 30.27% of the company's share capital. MultiChoice Group is the leading pay-TV operator in English- and Portuguese-speaking Africa in more than 50 countries. This threshold crossing demonstrates the confidence of Canal+ Group and Vivendi in the prospects of MultiChoice Group and the African continent, to which they are very attached.

Havas

Havas reported another year of sustained growth in 2022, thanks to the strong commercial performances from all three divisions (Creative, Health & You and Media) and an aggressive external growth policy that led to the acquisition of eight majority interests, the most since 2015.

In 2022, Havas’s revenues were €2,765 million, up 18.1% compared to 2021 (+9.2% at constant currency and perimeter). Net revenues⁶ were €2,590 million, up 15.8 % compared to 2021. Organic growth was up 6.8 % compared to 2021 (+10.4% in 2021 compared to 2020). Currency effects were positive at +6.3% and the contribution from acquisitions was also positive at +2.7%. For the fourth quarter of 2022, net revenues were €745 million, up 11.2% compared to the fourth quarter of 2021, including organic growth of +2.3% (against a high comparison base, particularly in Europe and North America).

In 2022, all geographical regions achieved highly satisfactory organic growth. The two biggest contributors, Europe (+7.6%) and North America (+5.2%) continued their solid organic growth track record. Asia-Pacific (+5.8%) and Latin America (+13.6%) also reported good levels of organic growth.

In 2022, EBITA after restructuring charges was €286 million, compared to €239 million in 2021, an increase of 19.7%. The EBITA margin reached 11.0% of net revenues (compared to 10.7% as of December 31, 2021), an increase in profitability over 2021 despite lower organic growth and a significant increase in payroll costs.

In 2022, Havas pursued its targeted acquisitions policy and acquired eight majority interests that will bolster the group’s future growth: Bastion Brands (Australia – health communication), Expert Edge (United Kingdom – media performance), Additive+ (United Kingdom – data-driven creation), Search Laboratory (United Kingdom – digital media), Front Networks (China – creative), Frontier Australia (Australia – performance marketing), Inviqa (United Kingdom – digital media) and Tinkle (Spain – strategic communication). With these acquisitions, Havas is strengthening its geographical positions, particularly in the United Kingdom, now Havas’s second largest market in Europe, while capitalizing on new skillsets in digital media and performance.

2022 was a dynamic year for Havas in terms of both new client wins and creative awards given to its agencies (close to 1,400) around the world (please refer to Appendix VI).

Prisma Media

In 2022, Prisma Media’s revenues were €320 million, stable at constant currency and perimeter compared to 2021 (12-month data⁷) with growing digital activity.

At the end of December 2022, Prisma Media brands held leading positions in digital audiences:
Télé-Loisirs is No. 1 in the Entertainment segment with a monthly average of 20 million unique visitors (UVs); Capital is No. 1 in the Economic segment with 9.5 million UVs and Femme Actuelle is now No. 1 in the Women’s segment, taking the lead over Le Journal des Femmes with a monthly average of 18 million UVs. By strengthening content on new subjects such as health on Femme Actuelle and SVOD programs on Télé-Loisirs, digital audiences increased.

Prisma Media was awarded the exploitation license for the magazines Dr.Good! and Dr.Good! C’est Bon!. The first issues, published in July and August 2022, were immediate newsstand successes.

The Gala brand confirmed its position as the European media leader on TikTok with more than 5 million followers on this network.

Hearst Magazines International chose Prisma Media to launch the French version of Harper’s Bazaar, the legendary brand specializing in fashion and style for over 150 years. The multi-year license is globally deployed: print magazine, website, and social networks. The website and the first issue of the magazine were launched on February 23, 2023.

In 2022, Prisma Media’s EBITA was €31 million, up €1 million compared to 2021 (12-month data⁷) despite the impact of higher raw material costs, especially paper prices.

Gameloft

For the fourth quarter of 2022, Gameloft's revenues were €106 million, up 30.7% compared to the same period of 2021, crossing for the first time the symbolic threshold of €100 million for a quarter. In 2022, Gameloft’s revenues reached an all-time high of €321 million, up 21.2% compared to 2021 (+19.4% at constant currency and perimeter).

This strong increase results from Gameloft's strategic shift towards Console-PC-Mobile multi-platform games. The increase was also achieved in a declining video game market. With the immediate success of Disney Dreamlight Valley, launched in September 2022 simultaneously on Nintendo Switch, PlayStation 4 and 5, Xbox One and Series X/S, Steam, Epic and Microsoft stores, Gameloft's diversification into non-mobile games is accelerating: Console and PC revenues represented 28% of its revenues in 2022. In 2023, more multi-platform games positioned as GaaS (Game as a Service) will be released by Gameloft studios.

Disney Dreamlight Valley, Asphalt 9: Legends, Disney Magic Kingdoms, March of Empires and Dragon Mania Legends games accounted for 50% of Gameloft’s total revenues and were the five best sellers in 2022.

Gameloft’s gross margin⁸ increased by nearly 20% and reached €226 million in 2022.

In 2022, Gameloft’s EBITA was €12 million, up 46.3% year-on-year (+8.1% at constant currency and perimeter).

Vivendi Village

In 2022, Vivendi Village’s revenues were €238 million compared to €102 million in 2021⁹, which was impacted by the effects of the pandemic (x2.2 at constant currency and perimeter). This strong growth reflects the return of audiences to theaters, festivals and other public events after two years of health restrictions.

See Tickets, the ticketing company operating in a dozen countries in Europe and the United States, sold 39 million tickets in 2022, up sharply from 2021 (27 million) and 2019 (25 million). Twenty festivals were held in 2022, mainly in France and Great Britain, bringing together more than half a million festivalgoers. The Olympia theatre in Paris has returned to its pre-Covid attendance levels, with a total of 262 shows and some 470,000 spectators. Le Théâtre de l'Oeuvre in Paris hosted 297 shows, including dramas, comedies and concerts.

New Initiatives

In 2022, New Initiatives, which brings together Dailymotion and the GVA entities, recorded revenues of €122 million compared to €89 million in 2021 (+37.2% at constant currency and perimeter).

In 2022, Dailymotion's revenue increased by 29.5% compared to 2021. Programmatic video advertising sales, mainly driven by France, North America, Europe, the Middle East and Africa, increased by 60% compared to 2021.

Dailymotion's audience has hit record levels, boosted by the signing of new partnerships in France, the Middle East, North Africa and the United States and the expansion of existing partnerships, notably with Prisma Media in France and MSN in Europe and the United States. Dailymotion also continues to develop its strategy to reach a younger audience by signing deals with new media outlets, including KOP, Fraiches, Minute Buzz, Néo and Le Bonbon in France.

GVA, a telecoms operator dedicated to providing very high-speed Internet access in Africa through its FTTH (Fiber to the Home) networks, operates in 12 metropolitan areas and seven sub-Saharan African countries (Burkina Faso, Ivory Coast, Congo-Brazzaville, Democratic Republic of Congo, Gabon, Rwanda and Togo). In 2022, GVA, under the CANALBOX brand, continued to grow steadily, covering a market of 1.9 million eligible homes and businesses (homes passed).

Editis (discontinued operation)

In 2022, in a declining market, Editis’s revenues were €789 million, a decrease of 8.1% at constant currency and perimeter compared to 2021. However, this change needs to be kept in perspective because last year's growth was unprecedented.

In 2022, Editis’s Tourism and Comics/Manga segments outperformed an already dynamic market, achieving double-digit growth. In the latter segment, Editis is building on its flagship collections and expanding by opening new publishing houses: Black River, dedicated to comics, and Kotoon, specializing in Webtoons.

Editis, either through its owned publishing houses or through third-party publishers, remained at the top of the sales charts, with best-selling titles including Joël Dicker’s new book L’affaire Alaska Sanders, Lucia, the thriller by Bernard Minier, 9. Noa by Marc Levy, and Labyrinthes by Franck Thilliez.

Through its acquisition in May 2022 of Educlever, which owns the Maxicours and Enseigno tutoring platforms, Editis reinforced its ambition to become a key player in digital transformation, education, and training.

In addition, Editis is undertaking an ambitious modernization program for its logistics system, which incorporates the most innovative technologies and should, in particular, enable it to offer 24-hour delivery to booksellers in France.

In 2022, Editis’s EBITA was €31 million, compared with €51 million in 2021.

For additional information, please refer to the “Financial Report and Audited Consolidated Financial Statements for the year ended December 31, 2022” to be released tonight (Paris time) on Vivendi’s website (www.vivendi.com).

About Vivendi

Since 2014, Vivendi has been building a world-class content, media and communications group. The group owns leading, highly complementary assets in television and movies (Canal+ Group), communications (Havas), publishing (Editis), magazines (Prisma Media), video games (Gameloft) and live entertainment and ticketing (Vivendi Village). It also owns a global digital content distribution platform (Dailymotion). Vivendi’s various businesses cohesively work together as an integrated industrial group to create greater value. Vivendi is committed to the environment and aims to contribute to a carbon-neutral world by adopting an approach aligned with the 2015 Paris Agreements. In addition, the group is helping to build more open, inclusive and responsible societies by supporting diverse and inventive creative works, promoting broader access to culture, education and its businesses, and increasing awareness of 21^st-century challenges and opportunities. www.vivendi.com.

Important Disclaimers

Cautionary Note Regarding Forward-Looking Statements. This press release contains 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 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 and 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 (www.vivendi.com). Investors and security holders may obtain a free copy of documents filed by Vivendi with the Autorité des Marchés Financiers at www.amf-france.org, 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.

ANALYST CONFERENCE CALL

Speakers:

Arnaud de Puyfontaine

Chief Executive Officer

François Laroze

Member of the Management Board and Chief Financial Officer

Date: March 8, 2023

6:15pm Paris time – 5:15pm London time – 12:15pm New York time

Media invited on a listen-only basis.

The conference will be held in English.

Internet: The conference can be followed on the Internet at: www.vivendi.com (audiocast)

Numbers to dial:

USA: +1 212 999 6659 France: +33 (0) 1 7037 7166 UK (Standard International Access) : +44 (0) 33 0551 0200 Password: Vivendi

An audio webcast and the slides of the presentation will be available on the company’s website www.vivendi.com.

Biography of Sébastien Bolloré

After studying management in France, Sébastien Bolloré left for the United States in the early 2000s to continue his studies in management and film at the University of California, Los Angeles (UCLA).

At the Bolloré Group, he participated in the establishment of the French Direct 8 television channel, created in 2001 and officially launched in 2005, which later became C8.

In parallel, Sébastien Bolloré became an expert in the video game industry. In 2008 he became a director of Bigben Interactive, a major player in video game and smartphone accessories. In 2016, he became a director of Gameloft SE, a global leading video game developer and publisher. In 2019, drawing on his experience, he founded the video game company Magic Arts, of which he is Chairman & Chief Executive Officer. In 2020 he also became a director of Nacon, a video game subsidiary of Bigben Interactive.

Sébastien Bolloré has been working in the Asia-Pacific region for several years, advising the group based on his expertise in new media and technological developments.

In 2022, he was appointed Deputy Chief Executive Officer of Compagnie de l'Odet, the holding company that controls the Bolloré group.

____________________________
¹ Constant perimeter notably reflects the consolidation of Prisma Media since June 1, 2021, as well as the equity accounting of Lagardère since July 1, 2021, and Universal Music Group since September 23, 2021.
² Non-GAAP measures.
³ Excluding the share of earnings of Telecom Italia accounted for under the equity method. As of December 31, 2022, Vivendi ceased to account for Telecom Italia under the equity method.
⁴ As a percentage of women on the group’s executive and operational committees and Vivendi SE’s executive committee (including the Management Board).
⁵ Based on the percentage of employees present at the end of December 2022 and eligible to participate in the training program.
⁶ Net revenues, a non-GAAP measure, relates to Havas’s revenues less pass-through costs chargeable to customers.
⁷ Vivendi has fully consolidated Prisma Media since June 1, 2021.
⁸ Gross margin relates to revenues after deducting cost of sales.
⁹ Vivendi Village’s revenues for 2021 have been restated: CanalOlympia is no longer part of Vivendi Village and is now part of the “Generosity and solidarity” operating segment.

APPENDIX I
VIVENDI
CONSOLIDATED STATEMENT OF EARNINGS
(IFRS, audited)
	Year ended December 31,						% Change
	2022			2021
REVENUES	9,595			8,717			+ 10.1%
Cost of revenues	(5,351	)		(4,866	)
Selling, general and administrative expenses excluding amortization of intangible assets acquired through business combinations	(3,571	)		(3,268	)
Restructuring charges	(44	)		(34	)
Income from equity affiliates - operational	239			90
Adjusted earnings before interest and income taxes (EBITA)*	868			639			+ 35.6%
Amortization and depreciation of intangible assets acquired through business combinations	(107	)		(283	)
EARNINGS BEFORE INTEREST AND INCOME TAXES (EBIT)	761			356			x 2.1
Income from equity affiliates - non-operational	(393	)		(13	)
Interest	(14	)		(31	)
Income from investments	50			150
Other financial charges and income	(952	)		(824	)
	(916	)		(705	)
Earnings before provision for income taxes	(548	)		(362	)		- 51.4%
Provision for income taxes	(99	)		(206	)
Earnings from continuing operations	(647	)		(568	)		- 13.8%
Earnings from discontinued operations	(298	)		25,443
Earnings	(945	)		24,875			na
Non-controlling interests	(65	)		(183	)
EARNINGS ATTRIBUTABLE TO VIVENDI SE SHAREOWNERS	(1,010	)		24,692			na
of which earnings from continuing operations attributable to Vivendi SE shareowners	(712	)		(630	)
earnings from discontinued operations attributable to Vivendi SE shareowners	(298	)		25,322
Earnings attributable to Vivendi SE shareowners per share - basic (in euros)	(0.98	)		22.94
Earnings attributable to Vivendi SE shareowners per share - diluted (in euros)	(0.98	)		22.87
Adjusted net income*	343			613			- 44.0%
Adjusted net income per share - basic (in euros)*	0.33			0.57
Adjusted net income per share - diluted (in euros)*	0.33			0.57

In millions of euros, except per share amounts.
na: not applicable.
* non-GAAP measures.

As of December 31, 2022, in accordance with IFRS 5 - Non-current assets held for sale and discontinued operations, Editis was presented in Vivendi’s Consolidated Statement of Earnings as a discontinued operation. In practice, income and charges from Editis have been reported as follows:

• their contribution until the effective divestiture, if any, to each line of Vivendi’s Consolidated Statement of Earnings (before non-controlling interests) has been reported on the line “Earnings from discontinued operations”;
• in accordance with IFRS 5, these adjustments have been applied to all periods presented to ensure consistency of information; and
• their share of net income has been excluded from Vivendi’s adjusted net income.

The adjustments to previously published data are reported in this Financial Report and in Note 29 to the Consolidated Financial Statements for the year ended December 31, 2022.

*The non-GAAP measures of “adjusted earnings before interest and income taxes (EBITA)” and “adjusted net income” 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 of the group’s operating and financial performance. Vivendi 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 and Audited Consolidated Financial Statements for the year ended December 31, 2022“, which will be released online tonight (Paris time) on Vivendi’s website (www.vivendi.com).

APPENDIX I (Cont’d)
VIVENDI
CONSOLIDATED STATEMENT OF EARNINGS
(IFRS, audited)
Reconciliation of earnings attributable to Vivendi SE shareowners to adjusted net income
	Year ended December 31,
(in millions of euros)	2022			2021
Earnings attributable to Vivendi SE shareowners (a)	(1,010	)		24,692
Adjustments
Amortization and depreciation of intangible assets acquired through business combinations (a)	107			283
Amortization of intangible assets related to equity affiliates - non-operational	59			60
Other financial charges and income (a)	952			824
Earnings from discontinued operations (a)	298			(25,443	)
of which Universal Music Group	na			(25,413	)
Editis	298			(30	)
Provision for income taxes on adjustments	(57	)		78
Impact of adjustments on non-controlling interests	(6	)		119
Adjusted net income	343			613

na: not applicable.

1. As reported in the Consolidated Statement of Earnings.

Adjusted Statement of Earnings

	Year ended December 31,						% Change
(in millions of euros)	2022			2021
Revenues	9,595			8,717			+ 10.1%
EBITA	868			639			+ 35.6%
Income from equity affiliates - non-operational	(334	)		47
Interest	(14	)		(31	)
Income from investments	50			150
Adjusted earnings from continuing operations before provision for income taxes	570			805			- 29.1%
Provision for income taxes	(156	)		(128	)
Adjusted net income before non-controlling interests	414			677
Non-controlling interests	(71	)		(64	)
Adjusted net income	343			613			- 44.0%

APPENDIX II
VIVENDI
REVENUES AND EBITA BY BUSINESS SEGMENT
(IFRS, audited)
	Year ended December 31,
(in millions of euros)	2022			2021			% Change		% Change at constant currency		% Change at constant currency and perimeter (a)
Revenues
Canal+ Group	5,870			5,770			+1.7%		+1.5%		+0.3%
Havas	2,765			2,341			+18.1%		+11.9%		+9.2%
Prisma Media	320			194			na		na		-0.4%
Gameloft	321			265			+21.2%		+19.4%		+19.4%
Vivendi Village	238			102			x 2.3		x 2.3		x 2.2
New Initiatives	122			89			+37.2%		+37.2%		+37.2%
Generosity and solidarity (b)	3			2
Elimination of intersegment transactions	(44	)		(46	)
Total Vivendi	9,595			8,717			+10.1%		+8.2%		+5.1%
EBITA
Canal+ Group	515			480			+7.3%		+7.5%		+3.4%
Havas	286			239			+19.7%		+12.7%		+8.8%
Prisma Media	31			20			na		na		-5.8%
Gameloft	12			8			+46.3%		+8.1%		+8.1%
Vivendi Village	(6	)		(8	)
New Initiatives	(46	)		(30	)
Generosity and solidarity (b)	(13	)		(12	)
Corporate	(133	)		(110	)
Subtotal: EBITA of the business segments	646			587			+10.0%		+6.9%		+4.5%
Vivendi's share of Universal Music Group's earnings	124			33			na		na		+5.6%
Vivendi's share of Lagardère's earnings	98			19			na		na		na
Total Vivendi	868			639			+35.6%		+32.1%		+24.6%

na: not applicable.

1. Constant perimeter notably reflects the consolidation of Prisma Media since June 1, 2021, as well as the equity accounting of Lagardère since July 1, 2021, and Universal Music Group since September 23, 2021.
2. As from January 1, 2022, this new operating segment includes the group’s Generosity and solidarity activities. It includes CanalOlympia, previously part of Vivendi Village (2021 data has been restated), as well as the Vivendi Create Joy solidarity program, which supports initial and professional training projects within the Vivendi group’s businesses, which were previously included in the corporate segment.

APPENDIX II (Cont’d)
VIVENDI
QUARTERLY REVENUES BY BUSINESS SEGMENT
(IFRS, audited)
	2022
(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
Canal+ Group	1,446			1,427			1,419			1,578
Havas	591			666			665			843
Prisma Media	73			91			74			82
Gameloft	61			59			95			106
Vivendi Village	27			49			93			69
New Initiatives	25			29			29			39
Generosity and solidarity (a)	1			-			1			1
Elimination of intersegment transactions	(7	)		(9	)		(10	)		(18	)
Total Vivendi	2,217			2,312			2,366			2,700
	2021
(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
Canal+ Group	1,357			1,425			1,467			1,521
Havas	502			546			590			703
Prisma Media (b)	-			29			75			90
Gameloft	55			65			64			81
Vivendi Village	7			16			37			42
New Initiatives	17			21			22			29
Generosity and solidarity (a)	1			-			-			1
Elimination of intersegment transactions	(6	)		(12	)		(9	)		(19	)
Total Vivendi	1,933			2,090			2,246			2,448

1. As from January 1, 2022, this new operating segment includes the group’s Generosity and solidarity activities. It includes CanalOlympia, previously part of Vivendi Village (2021 data has been restated), as well as the Vivendi Create Joy solidarity program, which supports initial and professional training projects within the Vivendi group’s businesses which were previously included in the corporate segment.
2. Vivendi has fully consolidated Prisma Media since June 1, 2021.

APPENDIX III
VIVENDI
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
(IFRS, audited)
(in millions of euros)	December 31, 2022			December 31, 2021
ASSETS
Goodwill	8,819			9,447
Non-current content assets	409			336
Other intangible assets	791			777
Property, plant and equipment	975			961
Rights-of-use relating to leases	605			766
Investments in equity affiliates	7,132			8,398
Non-current financial assets	2,315			1,727
Deferred tax assets	294			234
Non-current assets	21,340			22,646
Inventories	240			256
Current tax receivables	118			101
Current content assets	973			861
Trade accounts receivable and other	4,886			5,039
Current financial assets	646			1,136
Cash and cash equivalents	1,908			3,328
	8,771			10,721
Assets of discontinued businesses	1,169			-
Current assets	9,940			10,721
TOTAL ASSETS	31,280			33,367
EQUITY AND LIABILITIES
Share capital	6,097			6,097
Additional paid-in capital	865			865
Treasury shares	(1,101	)		(971	)
Retained earnings and other	11,507			12,990
Vivendi SE shareowners' equity	17,368			18,981
Non-controlling interests	236			213
Total equity	17,604			19,194
Non-current provisions	642			678
Long-term borrowings and other financial liabilities	2,953			3,496
Deferred tax liabilities	463			395
Long-term lease liabilities	622			758
Other non-current liabilities	37			48
Non-current liabilities	4,717			5,375
Current provisions	343			467
Short-term borrowings and other financial liabilities	736			783
Trade accounts payable and other	7,148			7,363
Short-term lease liabilities	117			125
Current tax payables	51			60
	8,395			8,798
Liabilities associated with assets of discontinued businesses	564			-
Current liabilities	8,959			8,798
Total liabilities	13,676			14,173
TOTAL EQUITY AND LIABILITIES	31,280			33,367

APPENDIX IV
VIVENDI CONSOLIDATED STATEMENT OF CASH FLOWS
(IFRS, audited)
	Year ended December 31,
(in millions of euros)	2022			2021
Operating activities
EBIT	761			356
Adjustments	298			567
Content investments, net	(198	)		68
Gross cash provided by operating activities before income tax paid	861			991
Other changes in net working capital	61			70
Net cash provided by operating activities before income tax paid	922			1,061
Income tax (paid)/received, net	(175	)		(94	)
Net cash provided by operating activities of continuing operations	747			967
Net cash provided by operating activities of discontinued operations	1			670
Net cash provided by operating activities	748			1,637
Investing activities
Capital expenditures	(385	)		(438	)
Purchases of consolidated companies, after acquired cash	(204	)		(253	)
Investments in equity affiliates	(856	)		(610	)
Increase in financial assets	(168	)		(1,257	)
Investments	(1,613	)		(2,558	)
Proceeds from sales of property, plant, equipment and intangible assets	8			4
Proceeds from sales of consolidated companies, after divested cash	2			-
Decrease in financial assets	799			76
Divestitures	809			80
Dividends received from equity affiliates	149			74
Dividends received from unconsolidated companies	47			144
Net cash provided by/(used for) investing activities of continuing operations	(608	)		(2,260	)
Net cash provided by/(used for) investing activities of discontinued operations	(87	)		(1,492	)
Net cash provided by/(used for) investing activities	(695	)		(3,752	)
Financing activities
Net proceeds from issuance of common shares in connection with Vivendi SE's share-based compensation plans	-			18
Sales/(purchases) of Vivendi SE's treasury shares	(248	)		(693	)
Distributions to Vivendi SE's shareowners	(261	)		(653	)
Other transactions with shareowners	(3	)		5,943
Dividends paid by consolidated companies to their non-controlling interests	(56	)		(40	)
Transactions with shareowners	(568	)		4,575
Setting up of long-term borrowings and increase in other long-term financial liabilities	2			5
Principal payment on long-term borrowings and decrease in other long-term financial liabilities	(4	)		(3	)
Principal payment on short-term borrowings	(741	)		(1,375	)
Other changes in short-term borrowings and other financial liabilities	46			93
Interest paid, net	(14	)		(31	)
Other cash items related to financial activities	5			(29	)
Transactions on borrowings and other financial liabilities	(706	)		(1,340	)
Repayment of lease liabilities and related interest expenses	(147	)		(150	)
Net cash provided by/(used for) financing activities of continuing operations	(1,421	)		3,085
Net cash provided by/(used for) financing activities of discontinued operations	(17	)		1,349
Net cash provided by/(used for) financing activities	(1,438	)		4,434
Foreign currency translation adjustments of continuing operations	(2	)		14
Foreign currency translation adjustments of discontinued operations	-			19
Change in cash and cash equivalents	(1,387	)		2,352
Reclassification of discontinued operations' cash and cash equivalents	(33	)		-
Cash and cash equivalents
At beginning of the period	3,328			976
At end of the period	1,908			3,328

Nota: In accordance with IFRS 5, Editis was presented as a discontinued operation. These adjustments to previously published data are reported in Note 29 to the Consolidated Financial Statements for the year ended December 31, 2022.

APPENDIX V
VIVENDI
KEY CONSOLIDATED FINANCIAL DATA FOR THE LAST FIVE YEARS
(IFRS, audited)

As a reminder, Vivendi has applied the following accounting standards for the last five years:

• IFRS 5 - Non-current assets held for sale and discontinued operations: as of December 31, 2022, as a result of Vivendi’s plan to sell Editis and in accordance with IFRS 5, Editis has been reported in Vivendi’s Consolidated Statements as a discontinued operation. These adjustments were made to all periods as set out in the table of selected key consolidated financial data below.
  
  As a reminder, as from September 14, 2021, the date on which the Management Board approved the divestment of control of Universal Music Group (UMG), effective as of September 23, 2021, Vivendi applied IFRS 5 to the Statement of Earnings and Statement of Cash Flows for the year ended December 31, 2021 and the previous years, ensuring that the data below is comparable.

• IFRS 16 – Leases: in accordance with IFRS 16, the impact of the change of accounting standard was recorded in the opening balance sheet as of January 1, 2019. In addition, Vivendi applied this change of accounting standard to the Statement of Financial Position, Statement of Earnings and Statement of Cash Flows for the year ended December 31, 2019; therefore, the data relative to fiscal year 2018 is not comparable.

	Year ended December 31,
	2022			2021			2020			2019			2018
Consolidated data
Revenues	9,595			8,717			7,943			8,060			7,916
Adjusted earnings before interest and income taxes (EBITA) (a)	868			639			260			350			386
Earnings before interest and income taxes (EBIT)	761			356			212			293			361
Earnings attributable to Vivendi SE shareowners	(1,010	)		24,692			1,440			1,583			127
Adjusted net income (a)	343			613			277			749			482
Net Cash Position/(Financial Net Debt) (a)	(860	)		348			(4,953	)		(4,064	)		176
Total equity	17,604			19,194			16,431			15,575			17,534
of which Vivendi SE shareowners' equity	17,368			18,981			15,759			15,353			17,313
Cash flow from operations (CFFO) (a)	594			695			574			177			288
Cash flow from operations after interest and income tax paid (CFAIT) (a)	410			540			674			14			208
Financial investments	(1,228	)		(2,120	)		(1,617	)		(2,231	)		(670	)
Financial divestments	801			76			323			1,062			2,283
Dividends paid by Vivendi SE to its shareholders	261			653			690			636			568
Special distribution of 59.87% of UMG to Vivendi SE shareowners (b)				25,284
Purchases of Vivendi SE's treasury shares	326			693			2,157			2,673			-
Per share data
Weighted average number of shares outstanding	1,031.7			1,076.3			1,140.7			1,233.5			1,263.5
Earnings attributable to Vivendi SE shareowners per share	(0.98	)		22.94			1.26			1.28			0.10
Adjusted net income per share	0.33			0.57			0.24			0.61			0.38
Number of shares outstanding at the end of the period (excluding treasury shares)	1,024.7			1,045.4			1,092.8			1,170.6			1,268.0
Equity per share, attributable to Vivendi SE shareowners	16.95			18.16			14.42			13.12			13.65
Dividends per share paid	0.25			0.60			0.60			0.50			0.45

1. The non-GAAP measures of EBITA, Adjusted net income, Net Cash Position (or Financial Net Debt), Cash flow from operations (CFFO) and Cash flow from operations after interest and income tax paid (CFAIT) should be considered in addition to, and not as a substitute for, other GAAP measures of operating and financial performance as presented in the Consolidated Financial Statements and the related Notes or as described in this Financial Report. Vivendi considers these to be relevant indicators of the group’s operating and financial performance. Each of these indicators is defined in the appropriate section of this Financial Report or in its Appendix. In addition, it should be noted that other companies may have definitions and calculations for these indicators that differ from those used by Vivendi, thereby affecting comparability.
2. As a reminder, as of September 23, 2021, Vivendi ceded control and deconsolidated 70% of Universal Music Group, following the effective payment of the special distribution in kind of 59.87% of UMG’s share capital to Vivendi’s shareholders, including the distribution of a special dividend in kind of €22,100 million for fiscal year 2021.

APPENDIX VI
VIVENDI
HAVAS: SIGNIFICANT AWARDS AND WINS

• Main accounts won

En 2022, Havas continued its global development by winning numerous new clients in creative, media expertise and healthcare communications, both locally and globally:

Havas Creation
Harman (Havas Creative + Media Global), La Poste (Havas Paris), SBK (Havas Germany), Department of Education (Havas London), Lincoln Financial (Havas New York), Chewy (Arnold Boston), Shaze Luxury Retail (Havas India), Kraft Heinz (Havas Formula US), Yili Milk (Havas China), Fiji Tourism (Havas Australia).

Havas Health & You
ViiV (Global), Merck Inc (Global), Sanofi (United States), Amgen (United States), Guardant Health (United States), Jazz Pharmaceuticals (Global), AbbVie (Global), Dior Sciences (Asia-Pacific, Europe, United States), Otsuka (Global), UCB Pharma (United States).

Havas Media
Wolverine (Global), Harman (Global), InDrive (Global), European Commission (Europe), Pedidos ya (Latin America), EDF (France), MSC Cruises (United States), Genesis (China), Matalan (United Kingdom), HSBC (Mexico & Argentina), Hochland (Germany).

• Key awards won

Fiscal year 2022 was an exceptional year in terms of creativity with close to 1,400 awards and distinctions won by all the group around the world.

BETC topped the annual Top 8 Best Agencies list at Contagious Pioneers 2022.

Earlier this year, the World Advertising Research Center (WARC) unveiled its annual industry-wide rankings, with no less than 33 mentions for Havas and its agencies, including:

• the « Undercover Avatar » campaign of the French agency Havas Sports & Entertainment (becoming Havas Play in June 2022) has been named the most awarded media campaign of 2021 worldwide. Seven other group campaigns appear in the top 100;
• Havas Media and Havas Creative ranked 5th and 11^th, respectively, in the Top 50 Media Agency Networks ranking, 34th and 8th in the Top 50 Creative Agency Networks ranking, and 21st and 20th in the Top 50 Agency Networks ranking in the Effectiveness category.

At the Cannes Lions International Festival of Creativity, Havas agencies won a total of 34 awards (1 Grand Prix, 4 Gold, 16 Silver and 13 Bronze). We would like to highlight the very high quality of the prizes won, in particular a Grand Prix and a Gold in Outdoor for Havas Middle East for its 'Liquid Billboard' campaign (Adidas).

At the Clio Awards, the group's performance was up sharply with a total of 37 awards, including 5 Gold, 10 Silver and 22 Bronze.

At the One Show, another major ceremony, the group's agencies won 17 awards. BETC made a big impression with three award-winning campaigns: 'The 9th Lane' for Lacoste (3 Gold, 1 Silver and 1 Bronze), Outlaw Runners for Distance (three Bronze), and Hennesscreen for Hennessy (one Bronze). Havas Lisbon and Havas Paris won a Gold. Havas Middle East received 3 Silver, Arnold Boston 1 Bronze and Havas Play 2 Bronze.

At the prestigious D&AD Awards ceremony, Havas won 16 awards, received by BETC Paris, Havas Middle East, Havas Spain, and Host/Havas.

At the LIA Awards ceremony, the group's agencies picked up 28 awards, including two Golds for Stabyl by Havas Germany and Havas New York for the German Parkinson Association. The other campaigns won 2 Gold, 15 Silver and 9 Bronze.

Worldwide, the group won 40 local Effie awards and Havas Turkey was the big winner with a Global Effie for its Water Index campaign for Reckitt.

At the Epica Awards ceremony (the only creative awards given by journalists working for marketing and communications magazines worldwide), the group's agencies won 11 awards, including 3 Golds (two for Stabyl from Havas Germany and Havas New York, and one for Outlaw Runners from BETC for Distance), 4 Silvers and 4 Bronzes.

Havas agencies won 25 awards at the Eurobest Awards, including 3 Grand Prix for BETC's Gender Swap for Women in Games, Outlaw Runners, also from BETC, and Distance and Neverending Chase from Havas Milan for Affinity - Ultima. BETC was the second most awarded agency of the festival.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230308005669/en/

Media

Jean-Louis Erneux

+33 (0)1 71 71 15 84

Solange Maulini

+33 (0) 1 71 71 11 73

Investor Relations

Xavier Le Roy

+33 (0)1 71 71 18 77

Nathalie Pellet

+33 (0) 1 71 71 11 24

Delphine Maillet

+33 (0)1 71 71 17 20

Source: Vivendi

FAQ

What were Vivendi's total revenues for 2022?

Vivendi's total revenues for 2022 were €9.6 billion.

How much did Vivendi's EBITA grow in 2022?

Vivendi's EBITA grew by 35.6% to reach €868 million in 2022.

What was the adjusted net income for Vivendi excluding Telecom Italia?

The adjusted net income excluding Telecom Italia increased by 19.4% to €677 million.

What loss did Vivendi report for its shareholders in 2022?

Vivendi reported a loss of €1.0 billion attributable to its shareholders.

How did Vivendi's strategic acquisitions affect its growth?

Vivendi's strategic acquisitions, particularly by Havas, contributed to sustained growth and market position.