Vivendi : Healthy Q1 sales driven by UGM with organic growth of 12.7%
>A very solid Q1 at UGM - This morning, Vivendi reported Q1 sales that beat our forecasts thanks to a very good performance from UMG despite a demanding comparison base. Whilst revenues from streaming were in line with our forecasts, the group posted a solid performance in terms of physical sales and at its music publishing business. Organic growth at UMG (12.7% in Q1) is set to slow throughout the year due to the COVID-19 crisis, but this Q1 performance is good news....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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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