Full Year 2024 Vivendi SE Earnings Call Transcript
Key Points
- Vivendi SE (VVVNF) successfully completed the spin-off and respective listings of Group Canal Plus, Havas, and Louis Hachette Group, marking a significant restructuring achievement.
- The company's portfolio value as of December 31, 2024, amounts to over EUR7.1 billion, with EUR6.9 billion in listed securities.
- Vivendi SE (VVVNF) has seen a 15% rise in its stock price since the beginning of the year, outperforming the SBF 120 index.
- Havas closed a historic year with exceptional performance, contributing positively to the group's overall results.
- Gameloft, despite a revenue decrease, improved its EBITA from EUR5 million to EUR8 million due to effective cost management.
- The spin-off resulted in a EUR5.7 billion impact due to the fair value adjustment of the assets, leading to a significant accounting loss.
- Vivendi SE (VVVNF) reported a net income group share loss of EUR6.4 billion for 2024.
- Revenue from Gameloft decreased by 5.7% from EUR311 million in 2023 to EUR293 million in 2024.
- The company's financial debt remains high, with a net debt of EUR2.72 billion and a loan-to-value ratio of 30%.
- Corporate costs remain a concern, although there is a plan to reduce them further in the coming years.
Good evening, everyone, and welcome to the Vivendi Full Year 2024 Earnings Presentation. This conference will be hosted by Mr. Arnaud de Puyfontaine, Chairman of the Management Board and CEO; and Francois Laroze, Member of the Management Board and CFO.
As a reminder, this call is being recorded. (Operator instructions) I'd now like to hand the call over to your host this evening, Mr. Arnaud de Puyfontaine. Please go ahead, sir. Your line is open.
Thank you very much, and good evening to everybody. As you're aware, 2024 was an exceptionally busy year for Vivendi marked by the spin-off project and the respective listings of Group Canal Plus, Havas and Louis Hachette Group. This operation was completed on a tight schedule running from December 2023 until the approval of the spin-off by 97.5% at the extraordinary general meeting on December 9, 2024.
Following this intense period, the Vivendi group is now composed of a portfolio of listed investment
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