By Leo Marchandon
(Reuters) -France’s Vivendi said on Monday the net asset value of its investments grew to 5.2 billion euros ($5.9 billion) as of March 31, 7.8% higher than December 31, as it published its quarterly revenues for the first time since its massive breakup.
The media conglomerate, primarily owned by the Bollore group, has holdings in the media and entertainment sectors, including Universal Music Group, video game developer Gameloft, and audiovisual production company Banijay.
Vivendi’s net debt was 1.7 billion euros as of March 31, 2025, down from 2 billion euros as of December 2024, after it sold the bulk of its stake in Telecom Italia (TIM) to Poste Italiane.
“Our divestment from the telecoms industry led us to sell most of our stake in TIM, resulting in a substantial decrease in our financial net debt,” the company said in a statement.
Its revenue for the first quarter of 2025 were 69.4 million euros, the majority of which came from Gameloft whose sales totalled 68.5 million euros.
According to Vivendi, the revenue brought by the current assets in the first quarter last year were 69 million euros.
Vivendi’s breakup is still challenged in courts by minority shareholders who claim the split allowed the Bollore clan to extend control over the group without making a buyout offer. The Paris Court of Appeals ruled on April 22 the French market watchdog must reasses the case.
($1 = 0.8793 euros)
(Reporting by Leo Marchandon; Editing by Mrigank Dhaniwala and Rashmi Aich)
