A hike in subscribers for French pay-TV giant Canal+ Group as well as a successful year at the box office in France for Studiocanal helped drive positive 2023 results for parent company Vivendi, which were released Thursday evening after the close of the local stock exchange.
The media and communications giant posted a net profit of $443M (€405M) after a loss of $1.07B (1.01B Euros) for 2022, linked to the deconsolidation of its Telecom Italia stake.
Full-year revenue rose 9.5% to $11.4M (€10.5M), against $10.1B (€9.6B) in 2022. Earnings before interest, taxes, and amortisation (EBITA) rose by 7.5% year-on-year to $1.02B (€934M), against $915M (€868M) in 2022.
Despite the positive results, the Vivendi share price was trading lower in Paris on Friday morning, with analysts citing the lack of an update on plans to split the group into separate entities, first announced last December, as a factor weighing on the title.
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