Vivendi (Canal+, GVT, nc+) releases 2012 results

(Vivendi : résultats 2012)

Tuesday, February 26th, 2013 

PARIS — Vivendi has released its 2012 results.

GVT

  • Successful pay-TV launch with minimal EBITA loss: 406k triple-play subscribers at end 2012, representing 19% of broadband customer base, and 28% net adds market share in 2012, in cities where GVT operates*
  • Expansion into 20 new cities in 2012: 139 cities are covered by GVT

Launched commercially in January 2012, the number of subscribers to its new pay-TV service totaled about 406,000 as of December 31, 2012, representing an 18.8% penetration rate among the broadband customer base. During 2012, GVT’s share of the net adds of the entire Brazilian pay-TV market reached 11.4%, and when considering only the cities where it operates, GVT’s share of net adds reached 27.7%.

Pay TV (000s):

               Dec. 31,
             ----------
             2011  2012
             ----  ----
Subscribers    32   406
Net Adds       32   374

Canal+ Group

  • Mainland France pay-TV activity slightly impacted by economic slow-down and VAT increase
  • Growth mainly driven by international developments in Africa, Vietnam and at StudioCanal
  • Creation of a DTH platform serving 2.5m customers in Poland

At the end of December 2012, Canal+ France, which includes Canal+ Group’s pay-TV activities in France and French-speaking countries, had 11.363 million subscriptions, representing a net growth of 147,000 year-on-year. This growth was driven by strong performances at Canal+ Overseas (in French overseas territories and primarily in Africa), which had 1.683 million subscriptions at year-end, a net growth of 227,000 subscriptions, compared to 2011. In mainland France, the subscription portfolio reached 9.680 million, a slight decrease compared to 2011 due to a difficult economic and competitive environment. Average revenue per subscriber increased slightly to €48, particularly reflecting improved cross-selling between Canal+ and CanalSat offerings.

In 2012, Canal+ Group completed two major projects:

  • In October 2012, the creation of a free-to-air television business unit in France including the D8 and D17 channels, which were successfully re-launched; and
  • In November 2012, the creation and control of ‘nc+’, a major satellite TV platform in Poland. This entity had 2.5 million customers following the merger of Canal+ Group’s operations in Poland and the ‘n’ business unit of TVN, a leading media group in Poland. In addition to this merger, Canal+ Group took a minority interest in TVN.

Subscribers (000s)

                               Dec. 31,
                         --------------
                           2011    2012  Change
                         ------  ------  ------
Portfolio Canal+ Group   12,946  14,254  +1,308
 ow Canal+ France**      11,216  11,363    +147
 ow Poland & Vietnam      1,730   2,891  +1,161***

* Source: Anatel and GVT
** Individual and collective subscriptions at Canal+, CanalSat, CanalPlay Infinity (156k subscribers at end December 2012, corresponding to 116k on a 12 month equivalent basis) in Mainland France, Overseas territories and Africa.
*** o.w. 1,009k subscribers to ‘n’ platform.

More: Earnings Release

Links: Vivendi; Canal+ Group; GVT