Vivendi Posts 2002 Revenue Rise

11 February 2003

Vivendi Universal has posted a sales uplift for 2002 after a strong performance from its telecoms division made up for deterioration at its music, movie and theme park units.

The media giant reported a 6% rise in revenues for the full year to €61 billion ($65bn; £40bn). Excluding businesses that have been sold off (of which there have been many), sales jumped 11% over 2002 to €28.1bn after a 5% fourth-quarter increase.

Among the units reporting rising revenues last year were French telecoms arm Cegetel (up 11% to €7.07bn) and struggling French pay-TV firm Canal Plus (up 6% to €4.83bn).

At Vivendi Universal Entertainment – the collection of US assets the parent group is considering selling – profits jumped by 27% to €6.3bn following the purchase of TV business USA Networks. However, the unit’s sales rose by only 2% as the television boost was offset by declines at Universal Pictures, Universal theme parks and Universal Music.

Meanwhile, the asset sales continue, with the Seagram Collection of modern art – including works by Picasso and Rodin – about to go up for auction.

Data sourced from: multiple sources; additional content by WARC staff