Vivendi Se · EURONEXT:VIV
Vivendi — H1 2022 Earnings Presentation
34 slides from Vivendi's earnings presentation, Jul 28, 2022
Slide 1: H1 2022 Results
July 28, 2022 H1 2022 RESULTS Utiliser la bibliothèque UpSlide pour insérer une notice IMPORTANT NOTICE: Financial results for the half year ended June 30, 2022 Unaudited and prepared in compliance with IFRS
Slide 2: Summary
H1 2022 Results - July 28, 2022 SUMMARY 1 H1 2022 Key Highlights 2 H1 2022 Financial Performance 3 Business Unit Performances 4 Conclusion 5 Q&A 6 Appendices 2
Slide 3: H1 2022 Key Highlights
H1 2022 Key Highlights Arnaud de Puyfontaine Chairman of the Management Board Chief Executive Officer 3
Slide 4: A New Management Team
H1 2022 Results - July 28, 2022 A NEW MANAGEMENT TEAM to accelerate our strategic project NEWLY NEW CREATED MANAGEMENT EXECUTIVE BOARD COMMITTEE 4
Slide 5: Transformation, Internationalisation, Integration
H1 2022 Results - July 28, 2022 TRANSFORMATION INTERNATIONALISATION INTEGRATION 5
Slide 6: H1 2022 Good Results
H1 2022 Results - July 28, 2022 H1 2022 GOOD RESULTS REVENUES EBITA €4.9 billion €412 million +10.9% compared to H1 2021 +31.5% compared to H1 2021 6
Slide 7: Lagardère: Proposed Disposal of Editis
H1 2022 Results - July 28, 2022 LAGARDÈRE VIVENDI WILL EXAMINE A PROPOSED DISPOSAL OF EDITIS 7
Slide 8: Confident in Our Fundamentals
H1 2022 Results - July 28, 2022 CONFIDENT IN OUR FUNDAMENTALS CLEAR STRATEGIC VISION & OPERATIONAL AGILITY QUALITY CONTENT & BEST TALENT COMPLEMENTARY BUSINESSES LONG-TERM VISION 8
Slide 9: H1 2022 Financial Performance
H1 2022 Financial Performance François Laroze Member of the Management Board Chief Financial Officer 9
Slide 10: Key Figures
H1 2022 Results - July 28, 2022 H1 2022 KEY FIGURES H1 2021 H1 2022 D (%) in euro millions Revenues 4,394 4,873 +10.9% EBITA of controlled businesses 313 366 +16.9% EBITA * 313 412 +31.5% EBIT 289 372 +29.0% Earnings before tax and minority interests 277 648 x 2.3 Earnings from discontinued operatio
Slide 11: IFRS P&L
H1 2022 Results - July 28, 2022 IFRS P&L in euro millions H1 2021 H1 2022 D (%) Revenues 4,394 4,873 +10.9% Amortization and depreciation of intangible assets acquired through business combinations (24) (40) EBIT 289 372 +29.0% Income from non-operational equity affiliates (Telecom Italia) (38) (235
Slide 12: Consolidated Balance Sheet
H1 2022 Results - July 28, 2022 CONSOLIDATED BALANCE SHEET Assets Equity and Liabilities December 31, 2021 June 30, 2022 December 31, 2021 June 30, 2022 in euro millions in euro millions Goodwill 9,447 9,610 Equity 19,194 19,238 Intangible and tangible assets 3,701 3,420 Provisions 1,145 984 Financi
Slide 13: Portfolio of Financial Assets
H1 2022 Results - July 28, 2022 PORTFOLIO OF FINANCIAL ASSETS* Total market value*: c.€8Bn Dividends received: €78M in H1 2022 10.03% of share 20.1% of share capital capital*** 17.04% of share capital 1% of share capital 57.35% of share capital** 9.9% of share capital FL Entertainment 19.9% of share
Slide 14: Net Debt Evolution
H1 2022 Results - July 28, 2022 NET DEBT EVOLUTION Changes in net debt Net debt analysis (In €Bn) June 30, 2022 +0.3 in euro millions -0.3 Gross cash position 2,626 Bonds and other financial liabilities (3,402) -0.3 Net cash / (debt) position (776) -0.4 Return to shareholders -0.1 -0.3 +0.3 -0.8 ▪ A
Slide 15: Business Unit Performances
Business Unit Performances 15
Slide 16: Operational Performances
H1 2022 Results - July 28, 2022 OPERATIONAL PERFORMANCES Revenues D organic H1 2021 H1 2022 D (%) in euro millions (%) Canal+ Group 2,782 2,873 +3.3% +2.2% Havas Group 1,048 1,257 +19.9% +11.8% Havas Group - net revenue 1,007 1,206 +19.8% +11.5% Editis 372 344 -7.5% -7.5% Other businesses* and inter
Slide 17: Scope of Consolidation and Currency Impacts
H1 2022 Results - July 28, 2022 SCOPE OF CONSOLIDATION AND CURRENCY IMPACTS Revenues Q2 2022 H1 2022 D organic +3.1% +5.4% Consolidation scope impact +3.8pts +4.1pts FX impact +1.7pts +1.4pts D actual +8.6% +10.9% EBITA of controlled businesses H1 2022 D organic +6.9% Consolidation scope impact +7.6
Slide 18: Canal+ Group
H1 2022 Results - July 28, 2022 CANAL+ GROUP Key figures Subscriber base D organic in euro millions H1 2021 H1 2022 D (%) (%) June 30, 2021* June 30, 2022 D in thousands Revenues 2,782 2,873 +3.3% +2.2% TV international 1,079 1,154 +7.0% +4.8% International 13,528 14,314 +786 TV mainland France 1,51
Slide 19: Havas Group
H1 2022 Results - July 28, 2022 HAVAS GROUP Key figures D organic H1 2021 H1 2022 D (%) (%) in euro millions Revenues 1,048 1,257 +19.9% +11.8% Net revenues 1,007 1,206 +19.8% +11.5% Europe 498 585 +17.4% +11.7% North America 387 456 +17.7% +7.6% Asia Pacific and Africa 82 103 +26.6% +10.7% Latin Am
Slide 20: Editis
H1 2022 Results - July 28, 2022 EDITIS Key figures D organic H1 2021 H1 2022 in euro millions (%) Revenues 372 344 -7.5% Literature 159 153 -3.4% Education & Reference 66 65 -1.7% Diffusion & Distribution 147 126 -14.4% EBITA 10 0 CFFO (23) (85) H1 2019 D vs. 2019 H1 2022 in euro millions proforma*
Slide 21: Other Businesses
H1 2022 Results - July 28, 2022 OTHER BUSINESSES Revenues D organic H1 2021 H1 2022 D (%) in euro millions (%) Prisma Media* 29 164 na +7.4% Gameloft 120 120 +0.3% -0.7% Gross margin 83 86 +3.6% Vivendi Village 23 76 x 3.2 x 2.9 New Initiatives 38 54 +42.6% +42.6% Generosity and solidarity ** 1 1 -
Slide 22: Conclusion
Conclusion vivendi
Slide 23: Q&A
O&A vivendi
Slide 24: Appendices
Appendices vivendi
Slide 25: Main Changes in Currency and Perimeter
H1 2022 Results - July 28, 2022 MAIN CHANGES IN CURRENCY AND PERIMETER Changes in the main currencies of the group Main changes in scope of consolidation ■ UMG has been deconsolidated since Sept. 23, Closing rate 2021. Therefore, Vivendi’s revenues, EBITA, EBIT, June 30, 2021 June 30, 2022 D YoY CFF
Slide 26: Adjusted P&L
H1 2022 Results - July 28, 2022 ADJUSTED P&L H1 2021 H1 2022 D (%) in euro millions Revenues 4,394 4,873 +10.9% EBITA* 313 412 +31.5% Income from non-operational equity affiliates (Telecom Italia) (8) (205) Interest (11) (15) Income from investments 116 40 Provision for income taxes (108) (147) Non-
Slide 27: Q2 Revenues and H1 EBITDA by Business Unit
H1 2022 Results - July 28, 2022 Q2 REVENUES AND H1 EBITDA BY BUSINESS UNIT Q2 Revenues D organic Q2 2021 Q2 2022 D (%) in euro millions (%) Canal+ Group 1,425 1,427 +0.1% -1.3% Havas Group 546 666 +21.9% +12.3% Havas Group - net revenue 529 642 +21.3% +11.5% Editis 209 184 -11.9% -11.9% Other busine
Slide 28: Organic Growth Details by Quarter
H1 2022 Results - July 28, 2022 ORGANIC GROWTH DETAILS BY QUARTER Canal+ Group Havas Group D organic D organic D organic D organic Q1 2022 Q2 2022 Q1 2022 Q2 2022 in euro millions (%) (%) (%) (%) in euro millions TV - International 574 +6.2% 580 +3.4% Revenues 591 +11.3% 666 +12.3% TV - Mainland Fra
Slide 29: Havas Group: A Balanced Business Portfolio
H1 2022 Results - July 28, 2022 HAVAS GROUP A balanced business portfolio (H1 2022 data) Net revenue by geographic area (in %) Net revenue by sector (in %) L a tin Travels & A me ric a Retail Entertainment Asia Pacific and Africa 5% 5% Automotive 5% Healthcare& 9% wellness 5% 31% Industries & Servic
Slide 30: Havas Group: Acquisitions and Budget Wins
H1 2022 Results - July 28, 2022 HAVAS GROUP Targeted and bolt-on acquisitions Commercial dynamism: main budget wins PR Agency Customer Experience Agency Spain & Portugal United Kingdom & Germany Digital Agency United Kingdom Digital Performance Agency & United-States Australia Digital Marketing Agen
Slide 31: Interest & Income Tax
H1 2022 Results - July 28, 2022 INTEREST & INCOME TAX Interest H1 2021 H1 2022 in euro millions (except where noted) Interest expense on borrowings (20) (16) Average interest rate on borrowings (%) 0.78% 0.77% Average outstanding borrowings (€ Bn) 5.3 4.2 Interest income from cash and cash equivalen
Slide 32: Reconciliations
H1 2022 Results - July 28, 2022 RECONCILIATIONS EBIT – EBITA - EBITDA Earnings attributable to Vivendi shareowners to ANI H1 2021 H1 2022 H1 2021 H1 2022 in euro millions in euro millions EBIT 289 372 Earnings attributable to Vivendi SE Amortization and depreciation on intangible assets acquired thr
Slide 33: Important Legal Disclaimer
H1 2022 Results - July 28, 2022 IMPORTANT LEGAL DISCLAIMER ■ Cautionary note regarding forward-looking statements This presentation contains forward-looking statements with respect to Vivendi's financial condition, results of operations, business, strategy, plans, and outlook including the impact of
Slide 34: Glossary
H1 2022 Results - July 28, 2022 GLOSSARY The non-GAAP measures defined below should be considered in addition to, and not as a substitute for, other GAAP measures of operating and financial performance. Vivendi considers these to be relevant indicators of the group’s operating and financial performa