Update Vivendi’s profits fall, Canal+ improves -
Vivendi’s profits fall, Canal+ improves
French media group Vivendi's net profits dropped by 19.9% to €1.22bn (US$1.77bn) over the first half of 2008. The group’s total earnings were also down, by 1.1% to €2.567bn.
Canal+ Group shows great health with earnings before interest, taxation and amortisation (EBITA) up 16.2% to €351 million. Its portfolio now reaches 10.445 million subscriptions, including 5.257 million to Canal+ and 5.188 to CanalSat/TPS.
Though operational performances are expected to be very good over the next six months, Vivendi’s results show that if pay-TV and music activities improved earnings, the performance of its mobile phone arm SFR did not match that. SFR, which absorbed phone operator Neuf Cegetel, saw its EBITA losing 1.8% at €1.34 bn from a €5.289bn turnover.