Full Year 2025 Vivendi SE Earnings Call Transcript
Key Points
- Vivendi SE (VVVNF) reported a positive net income group share of EUR20 million for 2025, a significant improvement from the previous year's loss.
- Gameloft showed strong performance with a 4.2% increase in organic revenue and nearly doubled EBITDA from EUR8 million to EUR15 million.
- The company successfully reduced corporate operating costs at headquarters, with a decrease from EUR126 million to EUR99 million.
- Vivendi SE (VVVNF) completed a strategic divestment of telecom assets in Italy and Spain, refocusing on content, media, and entertainment.
- The financial net debt was reduced from EUR2.573 billion to EUR1.5 billion, primarily due to strategic divestments.
- The valuation of Vivendi SE (VVVNF)'s portfolio decreased from EUR7.2 billion to EUR5.8 billion, partly due to the decline in Universal Music Group's stock price.
- The stake in MediaForEurope was diluted from 19.80% to 15.92% following a deal with ProSieben in Germany.
- Universal Music Group's share price dropped from EUR24 to EUR22 per share by the end of 2025, impacting portfolio valuation.
- The company faced a EUR720 million reduction in its portfolio value due to the decline in Universal Music Group's share price.
- Despite improvements, the company still holds a significant financial net debt of EUR1.5 billion.
Ladies and gentlemen, welcome to the Vivendi conference call regarding its 2025 annual results. The call will be structured in two parts. First, a presentation by the Vivendi Group management team represented by Mr. Arnaud de Puyfontaine; and Francois Laroze, CFO. (Operator Instructions)
I will now hand over to the management team. Gentlemen, please go ahead.
Hello, good evening, and thank you for being with us this evening. We will, with Francois comment on the full year 2025 annual results. So I will start by the key highlights and to get stretched to the point. 2025 marks Vivendi's first fiscal year in its new structure following the spin-off in December 2024. The group has refocused over the past 12 months, its business portfolio on content, media, and entertainment, following the divestment of its telecom assets in Italy and Spain.
Gameloft continued its strong momentum, driven by its successful transformation despite the challenging environment
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