Vivendi Reports First Half 2007 Revenues Up 6.4%

Wednesday, July 25th, 2007
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Vivendi’s revenues for the first half of 2007 amounted to €10,223 million compared to €9,610 million for the first half of 2006, an increase of 6.4% (up 8.0% at constant currency).

Vivendi’s revenues for the second quarter of 2007 amounted to €5,203 million compared to €4,844 million for the second quarter of 2006, an increase of 7.4% (up 9.0% at constant currency).

Canal+ Group

First half
Canal+ Group revenues were €2,154 million compared to €1,833 million for the first half of 2006, up €321 million or +17.5%. Most of this growth came from pay-TV operations in France, which grew €358 million (or +24%) mainly driven by the TPS merger1, subscription portfolio growth and higher advertising revenues. Canal+ is still beating records in terms of gross individual subscriber additions with June 2007 being the best month of June in 21 years.

At the end of the period, Canal+ Group’s total subscription portfolio reached 10.3 million, which represents a net increase of more than 400,000 subscriptions compared to the combined subscriptions of Canal+ Group and TPS at the end of June 2006. Canal+ had 5.2 million subscriptions and CanalSat/TPS 5.1 million. Proportionally, Canal+ digital subscribers amounted to 67% compared to 56% at the end of June 2006.

Revenues from other operations (excluding PSG, sold in June 2006) were on a par with 2006. Lower revenues from StudioCanal due to the decrease of film distribution in France were offset by higher subscription revenues in Poland and increased advertising revenues from i>TELE.

Second quarter
Canal+ Group revenues were €1,087 million compared to €934 million for the second quarter of 2006, up €153 million or +16.4%. Revenues from pay-TV operations in France grew 24% mainly driven by the TPS merger1 and subscription portfolio growth.

Note
1) Canal+ Group’s 2007 revenues include TPS’ revenues, consolidated since January 4, 2007, when Vivendi and Canal+ Group obtained the control of TPS. For information, TPS’ revenues amounted to €294 million for the first half of 2006 and €148 million for the second quarter of 2006.