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Vivendi Moves Into Black With Q3 Profit

News, 03 December 2003

Vivendi Universal has moved back into the black amid signs its restructuring is paying off.

The media mammoth posted third-quarter net earnings of €131 million ($157m; £91m), up from a €1.23 billion loss in the same period last year. Vivendi was boosted by a one-off gain of €144m in the three months to September, whereas it suffered from an exceptional loss of €735m in Q3 2002.

Revenues tumbled 59% to €5.9bn, reflecting Vivendi's asset disposal programme over the last twelve months. Excluding these divestments, revenues were down slightly from €6.33bn in Q3 last year.

Vivendi has been selling off assets to reduce its debt mountain. It now owes €12.8bn, down by €6bn since the third quarter last year.

Data sourced from: The Wall Street Journal Online; additional content by WARC staff