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General

French pay-TV losses hurt Vivendi's Q2 operating profit

Friday 26 August 2016 | 09:13 CET | News
Update: 26 August 2016 | 12:36 CET
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Vivendi reported results for the second quarter below analysts' expectations, posting a year-on-year drop in EBITA of 41.5 percent to EUR 174 million. This negative performance was mainly driven by the ongoing losses of its pay-TV unit Canal Plus in France, which the company intends to redress with a EUR 300 million cost reduction plan, aimed to reach breakeven in France in 2018. Vivendi's Q2 adjusted net income dropped 3.1 percent to EUR 187 million on a comparable basis, while revenue declined to EUR 2.55 billion. Universal Music, Vivendi's second largest business unit, saw its

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[26/08/2016 12:36- Update: clarification of EUR 106 million EBITA loss]


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Categories: General
Companies: Canal Plus / Universal Music / Vivendi
Countries: France / World
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