Media giant Vivendi Universal yesterday posted healthy results for the first quarter, boosted by strong performances in its film, TV and telecoms divisions.
The group announced first-quarter EBITDA (earnings before interest, taxes and amortization) of 900 million euros ($812m), up from 425m euros in the same period last year. Revenues jumped 10% over the quarter to 5.9 billion euros.
Earnings from Vivendi’s TV and films operations grew especially quickly, rising from a pro forma 121m euros in Q1 2000 to 284m euros, while revenues rose 13% to 2.08bn euros.
Elsewhere, the group’s telecoms division saw a year-on-year leap in EBITDA from 140m euros to 433m euros, with revenues jumping 30% to 1.5bn euros, while the music division saw 15% earnings growth to 180m euros and a rise in revenue from 1.4bn euros to 1.45bn euros.
Vivendi chief executive Jean-Marie Messier expressed confidence that the company could meet its EBITDA growth targets of 35% for 2001 and 10% for 2002.
News source: Wall Street Journal