VIVHY Vivendi SE (PK)

   By Mauro Orru 
 

Vivendi SE said Wednesday that revenue for the fourth quarter fell year-on-year, although its top line for the year increased amid growth at its Universal Music Group, Canal+ Group and Editis businesses.

The French media giant posted fourth-quarter revenue of 4.49 billion euros ($5.43 billion) compared with EUR4.58 billion in the fourth quarter of 2019.

Despite the year-on-year fall, the result represents an organic increase of 0.7%.

For the full year, Vivendi said revenue climbed to EUR16.09 billion from EUR15.90 billion, up 1.2% year-on-year but marking an organic decline of 0.6%.

Adjusted earnings before interest and income taxes, or Ebita--a non-GAAP measure excluding most non-recurring and non-operating items from the measurement of the business segments' performances--rose to EUR1.63 billion from EUR1.53 billion.

Net profit for the year fell to EUR1.44 billion from EUR1.58 billion.

Analysts had expected 2020 revenue of EUR15.99 billion, Ebita of EUR1.59 billion and net profit of EUR1.24 billion, according to FactSet.

"Vivendi continually monitors the current and potential consequences of the crisis. It is difficult at this time to determine how it will impact Vivendi's results in 2021," the company said in a statement.

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

(END) Dow Jones Newswires

March 03, 2021 12:41 ET (17:41 GMT)

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