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Vivendi Announces First Quarter 2011

For any additional information, please refer to “Financial Report and Unaudited Condensed Financial Statements for the first quarter ended March 31, 2011”, which will be released on line later on Vivendi’s website ( www.vivendi.com).

(*) The reconciliation of EBIT to EBITA and of Earnings, attributable to Vivendi shareowners to Adjusted net income is presented in the Appendix IV.

APPENDIX II VIVENDI CONSOLIDATED STATEMENT OF EARNINGS (IFRS, unaudited)
 

1st Quarter 2011
 

1st Quarter 2010
  % Change
             
 
Revenues 7,184 6,924 + 3.8 %
Cost of revenues (3,461 ) (3,416 )
Margin from operations 3,723 3,508 + 6.1 %
 

Selling, general and administrative expenses excludingamortization of intangible assets acquired throughbusiness combinations
(1,973 ) (1,894 )
 
Restructuring charges and other operating charges and income (45 ) (24 )
 

Amortization of intangible assets acquired throughbusiness combinations
(123 ) (134 )
 

Impairment losses of intangible assets acquired throughbusiness combinations
- -
   
EBIT 1,582 1,456 + 8.7 %
 
Income from equity affiliates (2 ) 15
 
Interest (101 ) (118 )
 
Income from investments 71 -
 
Other financial charges and income 808 (69 )
   

Earnings from continuing operations before provision for income taxes
2,358 1,284 + 83.6 %
 
Provision for income taxes (198 ) (261 )
   
Earnings from continuing operations 2,160 1,023 + 111.1 %
 
Earnings from discontinued operations - -
   
Earnings 2,160 1,023 + 111.1 %
 
Non-controlling interests (426 ) (425 )
   
Earnings attributable to Vivendi SA shareowners 1,734   598   + 190.0 %
             
 

Earnings attributable to Vivendi shareowners per share - basic
1.40 0.49 + 188.3 %
 

Earnings attributable to Vivendi shareowners per share - diluted
1.40 0.48 + 188.6 %

In millions of euros, per share amounts in euros.

APPENDIX III VIVENDI REVENUES AND EBITA BY BUSINESS SEGMENT (IFRS, unaudited)
 
(in millions of euros)  

1st Quarter 2011
 

1st Quarter 2010
  % Change  

% Change at constant rate
                   
 
Revenues
Activision Blizzard 1,061 945 +12.3 % +10.8 %
Universal Music Group 881 889 -0.9 % -5.0 %
SFR 3,056 3,085 -0.9 % -0.9 %
Maroc Telecom Group 672 660 +1.8 % +1.5 %
GVT 329 214 +53.7 % +38.6 %
Canal+ Group 1,192 1,145 +4.1 % +3.9 %

Non-core operations and others, andelimination of intersegment transactions
(7 ) (14 ) na na  
Total Vivendi 7,184   6,924   +3.8 % +2.5 %
                   
 
EBITA (*)
Activision Blizzard 502 377 +33.2 % +31.3 %
Universal Music Group 46 68 -32.4 % -35.1 %
SFR 566 634 -10.7 % -10.7 %
Maroc Telecom Group 266 284 -6.3 % -7.0 %
GVT 90 43 +109.3 % +89.3 %
Canal+ Group 265 230 +15.2 % +15.4 %
Holding & Corporate (20 ) (38 ) +47.4 % +47.4 %
Non-core operations and others (10 ) (8 ) na na  
Total Vivendi 1,705   1,590   +7.2 % +6.1 %

na: not applicable

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