Vivendi : H1 preview: a dynamic Q2 for the main assets and confirmation of the details of the demerger
>Outperform rating with the outlook for the demerger - We are issuing an update on our H1 forecasts as well as the messages that could be delivered by the group at this earnings publication of 25 July. Firstly, we forecast a strong H1 driven by robust growth in the three main assets: Canal+ (2.9% organic in Q2), Havas (+1.8% in Q2) and Lagardère (+10%). Our full-year estimates are unchanged for EPS. We have merely updated our net debt forecast for 2023 under the effe...Vivendi is an audiovisual group active in the entertainment industry with activities in music, TV, cinema, mobile, fixed and internet, and games. Co.'s operations are divided into five businesses: Canal+ Group which produces and distributes pay-TV in France, analog or digital, and is involved in film making; Universal Music Group which sells recorded music (physical and digital media); GVT which serves as a telecommunication operator for fixed ultra high-speed broadband, fixed-line telecommunications and Pay-TV in Brazil; SFR which is engaged in mobile phone services in France, as well as fixed and ADSL services; and Other Activities which involves ticketing, Wengo and Watchever.
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