Vivendi's first half boosted by telecoms units

1 Sep 2010

French media and telecoms group Vivendi has posted revenue of EUR13.982 billion (USD17.729 billion) for the first six months of 2010, up 6.1% year-on-year. EBITDA grew 11.9% to EUR3.243 billion and net income was up 4% to EUR1.526 billion. The results were boosted by strong performance from the company’s telecoms subsidiaries. Sales at French telco SFR increased 1.8% to EUR6.248 billion, while at Moroccan subsidiary Maroc Telecom they were up 5.9% to EUR1.382 billion. Vivendi took control of Brazilian telco GVT in November 2009, and 100% ownership from the end of April 2010. GVT recorded revenue of EUR444 million for the six months ending June 2010. Meanwhile, CEO Jean-Bernard Levy reiterated his interest in buying out Vodafone’s shares in SFR. ‘It has always been a strategic objective of ours to hold 100% of our French telecoms business,’ he said, adding that Vivendi could use the proceeds from the sale of its NBC Universal stake which is expected later this year.