French media and telco group Vivendi has gone beyond expectations with its Q1 revenues for 2011.
Over the period ended 31 March, revenues increased 3.8% to € 7.2 billion with results boosted by the solid growth of Brazilian subs GVT, Activision Blizzard’s video game activities and Canal+ Group.
The French pay-TV group increased subscriptions in both metropolitan France and overseas territories to total 5.6 million subs. Revenues went up 4.1 % to €1.19 billon while revenues at Canal+ France (all pay-TV operations) were up 2.4 % to 1.008 billon. Canal+ Group EBITA reached €265 million, compared to €230 million in the same period of 2010.
SFR revenues were not as bright and stranded at €3 billion, decreasing 0.9% compared to the same period of 2010. EBITA went down 10.7 % to € 923 million.
However, served with an EBITA up 7.2 % to 1.7 billion, Vivendi can confirm a forecast adjusted net income for 2011 above €3 billion.