Vivendi Keeps Revenues Afloat in 2020 Thanks to UMG, Canal Plus Group

variety.com:

Elsa Keslassy International CorrespondentIn a year marked by the coronavirus pandemic, Vivendi was able to keep its revenues in 2020 stable thanks to the growth of Universal Music Group (UMG) and pay TV group Canal Plus Group, which helped offset the slowdown in other businesses.The company’s revenues reached €16,090 million, a 1.2% year-on increase.

The company’s EBITA also went up by 6.6% to $1.97 billion (€1.63 billion) in 2020, and earning before provision for income taxes skyrocketed by 47.7% to $2.63 billion (€2.18 billion).

Meanwhile, Vivendi’s financial net debt increased by $1.07 billion (€889 million) to $5.97 billion (€4.95 billion) as of Dec.