BOLLORÉ
| Financial information for the third quarter of 2024 October 24, 2024 |
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Revenues (with constant range and exchange rates):
+2% in the third quarter of 2024
+4% in the first nine months of 2024
Revenues for the third quarter of 2024
At a constant range and exchange rates, the Group’s revenues for the third quarter of 2024 amounted to EUR 5,559 million, an increase of 2%:
- Crude oil logistics: EUR 688 million, an increase of 2% due to higher sales volumes, partially offset by lower prices for petroleum products;
- Communications (Vivendi): €4.749 million, up 2% as a result of Lagardère’s good results, which offset a slight decline in Groupe Canal+ and Havas;
- Industry: : EUR 92 million, an increase of 7% mainly due to the resumption of deliveries of the 12 millionth buses to RATP.
According to reporting data, revenues increased by 74% compared to the third quarter of 2023, taking into account +2,223 million euros from changes in scope (including +2,250 million euros corresponding to the full consolidation of Lagardère by Vivendi) and +4 million euros influenced by currency exchange rates.
Revenues for the first nine months of 2024
At constant scope and exchange rates, revenues at the end of September 2024 increased by 4% to EUR 16,151 million.
With a constant range and exchange rates, compared to the first nine months of 2023, the main sectors have changed as follows:
- Crude oil logistics: €2,004 million, down 3%due to lower prices of petroleum products and higher sales volume.
- Communication: EUR 13,801 million, an increase of 5%mainly due to growth at Lagardère (+9%) driven by Lagardère Travel Retail and Lagardère Publishing and growth at Groupe Canal+ (+2%) 1 in its main business activity.
- Industry: EUR 270 million, an increase of 16%due to the resumption of Bluebus deliveries to RATP and the growth of the Systems business, slightly offset by a decline in Films revenues.
According to reporting data, revenues for the first nine months of the year increased by 71%, taking into account +6,120 million euros from scope changes (including +6,059 million euros corresponding to the full consolidation of Lagardère by Vivendi) and +25 million euros due to the impact of currency exchange rates .
| Change in revenue by activity |
| (in millions of euros) | Question 3 | 9 months | ||||||||
| 2024 | 2023 | Recorded growth | Organic growth | 2024 | 2023 | Recorded growth | Organic growth | |||
| Bolloré energy | 688 | 668 | +3% | +2% | 2004 | 2022 | -1% | -3% | ||
| Communication | 4749 | 2425 | +96% | +2% | 13801 | 7121 | +94% | +5% | ||
| Industry | 92 | 85 | +7% | +7% | 270 | 233 | +16% | +16% | ||
| Other (agricultural assets, holding companies and others) | 29 | 18 | +61% | +22% | 76 | 52 | +47% | +16% | ||
| Total | 5559 | 3196 | +74% | +2% | 16151 | 9427 | +71% | +4% | ||
Third quarter highlights and recent events
Operations carried out by Bolloré
- Additional takeover of UMG shares
- On July 25 and 26, 2024, the Bolloré Group acquired an additional 9.2 million shares of UMG NV for EUR 197 million.
- Bolloré SE share repurchase program
- On October 18, 2024, Bolloré SE acquired 3.2 million shares for an amount of EUR 18.8 million under the share purchase program approved by the Annual General Meeting of May 22, 2024.
Vivendi
- Proposed division
- On October 15, 2024, the Vivendi Supervisory Board became acquainted with the opinions of the bodies representing employees affected by the proposal to divide the Group announced on December 13, 2023. The Supervisory Board and the Management Board agreed to convene the General Meeting to vote on the proposed division, which will take place on December 9, 2024. If consent is given to the proposed division, trading in the shares of the three companies will begin on December 16, 2024.
- Assuming that the proposed division is approved by the Ordinary General Meeting to be held on December 9, Vivendi will earlier repay its debt in the form of bonds, the financing agreements of which were concluded on September 27, 2024.
- Buyout of shares by Vivendi
- In the first nine months of fiscal year 2024, share buybacks amounted to EUR 342.2 million, representing 35.1 million shares. As part of the share purchase program approved by the Joint General Meeting of Shareholders on April 29, 2024, a total of 25 million shares were purchased for the amount of EUR 243 million.
- Vivendi currently holds directly 38.1 million of its own shares, which constitutes 3.70% of its share capital.
Design simplification
- Compagnie de Cornouaille
- On July 17, 2024, the simplified merger of Compagnie de Cornouaille with Bolloré SE was finally completed. Bolloré SE currently directly holds shares in UMG (18.5%) and Vivendi (29.3%), which were previously held by Compagnie de Cornouaille.
- Merger by absorption of Société des Chemins de Fer et Tramways du Var et du Gard into Compagnie du Cambodge and Compagnie des Tramways de Rouen into Financière Moncey.
- On October 21, 2024, the Extraordinary General Meeting of the Compagnie du Cambodge, Société des Chemins de Fer et Tramways du Var et du Gard, Financière Moncey and Compagnie des Tramways de Rouen was held. The following resolutions were adopted.
- dividing the nominal value of the shares of Compagnie du Cambodge and Financière Moncey by 100;
- On October 21, 2024, the Extraordinary General Meeting of the Compagnie du Cambodge, Société des Chemins de Fer et Tramways du Var et du Gard, Financière Moncey and Compagnie des Tramways de Rouen was held. The following resolutions were adopted.
- mergers through the absorption of Société des Chemins de Fer et Tramways du Var et du Gard into Compagnie du Cambodge and Compagnie des Tramways de Rouen into Financière Moncey.
These mergers will be completed on October 31 and November 1, 2024, respectively.
- Proposed public buyout offers followed by compulsory squeeze-out of shares of Compagnie du Cambodge, Financière Moncey and Société Industrielle et Financière de l’Artois
- On September 12, 2024, as part of the rationalization and simplification of the Group’s structures, Bolloré SE announced its intention to announce three buyout offers, followed by compulsory compulsory buyout of the shares of Compagnie du Cambodge, Financière Moncey and Société Industrielle et Financière de l’Artois.
- These tender offers will consist of alternative tender offers payable in either cash (cash offer) or UMG shares (exchange offer) or a combination thereof.
- The proposed terms that apply to Compagnie du Cambodge and Financière Moncey, after dividing the nominal value of their shares by 100, are as follows:
- The target companies are awaiting further guidance from the AMF regarding the outcome of Accuracy’s independent review. The implementation of these offers is subject to the issuance of a declaration of compliance by AMF.
| Change in revenues in individual quarters |
| (in millions of euros) | Question 1 | Question 2 | Question 3 | ||||||
| 2024 | 2023 organic | 2023 reported | 2024 | 2023 organic | 2023 reported | 2024 | 2023 organic | 2023 reported | |
| Bolloré energy | 655 | 740 | 712 | 661 | 664 | 641 | 688 | 672 | 668 |
| Communication | 4274 | 4055 | 2290 | 4778 | 4502 | 2407 | 4749 | 4642 | 2425 |
| Industry | 75 | 74 | 74 | 104 | 74 | 74 | 92 | 86 | 85 |
| Other (agricultural assets, holding companies and others) | 20 | 17 | 15 | 26 | 24 | 18 | 29 | 24 | 18 |
| Total | 5024 | 4886 | 3091 | 5568 | 5263 | 3140 | 5559 | 5423 | 3196 |
All amounts are expressed in millions of euros and rounded to the nearest decimal place.
As a result, the sum of the rounded amounts may differ slightly from the total shown.
1 As announced on September 20, 2024, Canal+ is currently consolidating the activities of Dailymotion and GVA (previously integrated into the Vivendi New Initiatives segment), L’Olympia and L’Oeuvre theater (previously integrated into the Vivendi Village segment), as well as CanalOlympia, previously integrated into Vivendi’s Generosity and Solidarity segment. For fiscal year 2023, the previously presented data has been restated.
Attachment
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2024 10 24 Bollore CAT3 _en
