Vivendi Full Year 2007 Revenues Increase Significantly (+9.7%)Wednesday, January 30th, 2008
For the full year 2007, Vivendi’s revenues total €21,657 million compared to €20,044 million for the full year of 2006, an increase of 8% (+9.7% at constant currency).
For the fourth quarter of 2007, Vivendi’s revenues total €6,014 million compared to €5,545 million for the fourth quarter of 2006, an increase of 8.5% (+10.5% at constant currency).
Vivendi confirms 2007 outlook: an adjusted net income above €2.7 billion, at approximately €2.8 billion.
TPS integration and subscription growth
For the full year 2007, Canal+ Group’s revenues amounted to €4,363 million, a 20.2% increase compared to 2006. Revenues from pay-TV operations in France were up €746 million (+25%) compared to 2006. Pay-TV operations benefited from the TPS acquisition, as well as increased revenues from portfolio and higher advertising revenues. CanalOverseas also had a positive impact.
As of December 31, 2007, Canal+ Group’s total portfolio amounts to more than 10.5 million pay-TV subscriptions (individual and collective, in France and overseas, including Africa). Net additions over the year totalled 280,000 subscriptions. This figure included net additions of 330,000 subscriptions and a negative adjustment of approximately 50,000 subscriptions resulting from a portfolio change of scope to include viable contracts only.
Canal+’s total subscriptions at the end of the year reached 5.3 million, which represented a net increase of more than 80,000 over the year. The proportion of Canal+ Le Bouquet subscriptions reached 71% of the total Canal+ portfolio, up from 61% a year ago. The churn rate was 12.8%.
CanalSat and TPS’ total subscriptions were more than 5.2 million, which represented a net increase of 200,000 compared to the end of 2006. CanalSat’s churn rate was 10%.
Revenues from Canal+ Group’s other operations (excluding PSG, sold in June 2006) grew €24 million or 4%, thanks to the good performance of Canal+ in Poland and higher advertising revenues from i>Télé. StudioCanal posted lower revenues (€352 million in 2007 versus €362 million in 2006) despite good international performances driven by the growth of Optimum.
For the fourth quarter of 2007, Canal+ Group’s revenues amounted to €1,132 million, which represented a 23.3% increase compared to the same period last year.
Revenues from pay-TV operations in France grew €196 million (26%) compared to the fourth quarter of 2006. This strong increase was mainly due to the favorable impact of the TPS merger, as well as the increased portfolio of Canal+ and CanalSat. CanalOverseas contributed favorably as well.
Revenues from Canal+ Group’s other operations (Poland, i>Télé and StudioCanal) were also up (€18 million in total).