Revenues Up at Vivendi

PARIS: Full-year revenues at Vivendi gained 17.2 percent to 25.4 billion euros, the company announced today, with an adjusted net income of 2.7 billion euros.

“We reached the goals that we set in the beginning of 2008," said the company’s CEO, Jean-Bernard Lévy. "Despite an unstable environment, our business units’ operating performances were excellent. "

He continued: "Despite the current market conditions, I approach 2009 with confidence and vigilance. Vivendi has the ability to resist, due to its subscription-based model and the quality of its contents and services, added to continuous cost control. The profitable growth is expected to continue. Vivendi expects its EBITA will show strong growth in 2009.”

At the Canal+ Group, revenues were up by 4.4 percent to 4.5 billion euros, with a gain in its pay-TV operations in France of 2.8 percent, led by increased subscription revenues at Canal+ and CanalSat, plus more ad revenues. As at the end of the year, Canal+ had a total of 10.6 million subscriptions, with half at Canal+ and the other half at CanalSat.