Vivendi's Organic Revenue Growth: A Deep Dive into the First Nine Months of 2024

Vivendi, the French multinational media conglomerate, has reported a robust organic revenue growth of 4.5% for the first nine months of 2024. This impressive performance is driven by the strong growth of its subsidiaries, Canal+, Lagardère, and Havas. Let's delve into the key contributors to Vivendi's organic revenue growth.

Canal+ Group's performance significantly contributed to Vivendi's overall organic revenue growth. The group's revenues increased by 3.2% on a reported basis, driven by all its activities. Canal+ Europe's activities grew by 3.1% year-on-year, with an increase in the self-distributed subscriber base in France. Canal+ Africa and Asia's revenues surged by 4.2%, propelled by further growth in the subscriber base in Africa. Content Production, Distribution, and Other activities also witnessed a 3.3% increase, with growth for both Dailymotion and Studiocanal.


Lagardère's strong growth played a pivotal role in Vivendi's organic revenue growth. The company's revenues increased by 11.8% on a reported basis, driven by Lagardère Travel Retail (+16.8%) and Lagardère Publishing (+3.0%). The editorial successes of Lagardère Publishing and a nearly 17% increase in Lagardère Travel Retail's revenues were the primary factors behind this impressive performance.


Havas' performance, driven by Havas Media and growth in Europe and Latin America, also impacted Vivendi's organic revenue growth. Havas' revenues increased by 1.8% on a reported basis, thanks to the dynamic activity of Havas Media and strong organic growth in Europe and Latin America. The performance delivered by Havas was particularly driven by Havas Media and the Europe and Latin America regions.


Vivendi's strategic initiatives and organizational adjustments have facilitated this organic revenue growth. The company's proposed split project, announced on December 13, 2023, aims to create three independent companies. This project, if approved by the December 9, 2024, Shareholders' Meeting, will enable each company to focus on its core competencies and unlock its full potential. Additionally, Vivendi's early redemption of its bond debt, covered by financing agreements entered into on September 27, 2024, further strengthens the company's financial position.


In conclusion, Vivendi's organic revenue growth of 4.5% for the first nine months of 2024 is a testament to the strong performance of its subsidiaries, Canal+, Lagardère, and Havas. The company's strategic initiatives and organizational adjustments have played a crucial role in driving this growth. As Vivendi continues to execute its strategic plans, investors can expect the company to maintain its momentum and deliver robust financial performance in the future.