Vivendi Reports First Half 2008 Revenues Up 10.2%

Vivendi (Paris: VIV) had revenues in the first half 2008 of €11,268 million compared to €10,223 million in the first half 2007, an increase of 10.2% (up 12.3% at constant currency).

Canal+ Group

First half

Canal+ Group’s revenues reached €2,254 million, up 4.6% compared to the first half of 2007.

On June 30, 2008, Canal+ Group’s total subscription portfolio attained 10.445 million (a net increase of nearly 140,000 compared to end June 2007). Canal+ had 5.257 million subscriptions and CanalSat/TPS 5.188 million subscriptions. Subscription growth included a negative adjustment of approximately 65,000 subscriptions resulting from the portfolio change of scope to include viable contracts only.

Canal+ continues increasing its proportion of digital subscriptions (76% of total portfolio compared to 67% end June 2007).

As of June 30, 2008, 80% of TPS subscribers had already been transferred to the CanalSat platform confirming the goal of having a single platform by end 2008.

Revenues from pay-TV operations in France grew €72 million (+3.9%) compared to first half 2007. Pay-TV operations benefited from higher portfolio subscriptions, and higher advertising revenues due to good audience ratings.

Revenues growth from CanalOverseas in the French overseas territories and in Africa also contributed to these good performances.

Canal+ Group’s other operations revenues increased nearly by 10% compared to first half 2007. This performance is mainly explained by a double digit growth of sales in Poland, higher advertising revenues from i>Télé and the integration of the German company Kinowelt in StudioCanal since April 2008.

Second quarter

Canal+ Group’s revenues were to €1,139 million up 4.8% compared to 2007.

Revenues from pay-TV operations in France grew €23 million (+2.4%) thanks to higher portfolio subscriptions on Canal+ and CanalSat/TPS and higher advertising revenues.

Canal+ Group’s other operations revenues growth is driven by good performance in Poland and the Kinowelt integration.

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