The newly listed spinoffs of Vivendi have seen their shares decline in their first week of trading, after being listed on Monday in a move aimed at unwinding the conglomerate discount of tycoon Vincent Bollore's media empire.
Vivendi's newly spun-off entities Canal+, Havas and Louis Hachette Group will start trading in London, Amsterdam and Paris respectively on Monday, after shareholders of the French media conglomerate voted overwhelmingly in favour of the high-stakes split project on Dec. 9.
More than 97.5% of shareholders' votes were in favor of plans to spin off its television business Canal+, its advertising and public relations business Havas, and create a new company known as Louis Hachette Group.
Advertising firm Havas, set to be spun-off from French media conglomerate Vivendi in December, said on Tuesday it aimed to raise its adjusted operating profit margin to between 14% and 15% by 2028, compared to 12.1% last year.
French broadcaster Canal+ highlighted its intention to become a global-content platform, seeing Asia and Africa as high-growth markets during its Capital Markets Day on Monday, ahead of its prospective listing on the London Stock Exchange.
Vivendi SE reported Q2 earnings with sales increasing by almost 93% due to the acquisition of Lagardère. Company's gross margins and bottom line improved, but EBIT margin faltered, likely due to Lagardère acquisition. Proposed split into three entities (Canal+, Havas, Louis Hachette) may improve focus and performance, with Lagardère showing potential for growth.
Vivendi SE (OTCPK:VVVNF) Q2 2024 Earnings Conference Call July 25, 2024 12:15 PM ET Company Participants Arnaud de Puyfontaine - Chairman and CEO Francois Laroze - Member of the Management Board and CFO Conference Call Participants Adrien de Saint Hilaire - Bank of America Conor O'Shea - Kepler Cheuvreux Jérôme Bodin - ODDO BHF Christophe Cherblanc - Bernstein Silvia Cuneo - Deutsche Bank Opera...
Vivendi on Monday said it is considering listing its Canal+ film and television subsidiary on the London Stock Exchange in what would be a major win for the U.K.'s troubled bourse.
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