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Vivendi raised its forecast for 2010

Morale is extremely high at Vivendi. The group of media and telecommunications has indeed raised its forecast for 2010 in the wake of the publication of interim results better than expected.

Vivendi is now, for the entire fiscal year, "adjusted net income higher than last year, 5.39 billion euros, before a planned maintenance of its adjusted net income. Moreover, management now expects "growth in adjusted operating income", he anticipates a "slight growth" in the figure above.

The boss of the group, Jean-Bernard Levy, said the renewed optimism by "excellent operational performance" of the three recent acquisitions GVT, Activision Blizzard and SFR fixed. The group has "raised the prospect of each of them."The officer added that "TVG is this year and in the future, a significant growth driver and we are accelerating investment. The result shows an affiliate growth and profitability "very top of the business plan of acquisition," said Vivendi. Vivendi has raised the forecast of the Brazilian fixed phone operator now anticipating an increase of 34% of its turnover and 44% of its adjusted EBITDA, and 35% against 29% previously.

Increase in net profit for the half

Another reason for satisfaction, the group unveiled interim results above expectations. Adjusted net profit stood at 1.53 billion euros, up 4%, while analysts expected a slight decline. Vivendi also recorded a net profit of 1.267 billion euros against 1.188 billion in first half of 2009.The adjusted operating profit (EBITA) up his part of 11.9% to 3.24 billion euros, against 3.11 billion expected by professionals. The group was supported by the results of its video game subsidiary of Activision Blizzard and those of French telecoms operator SFR and GVT Brazil.

As for revenues, it amounted to 13.9 billion euros in the first half, up 4.8% at constant exchange rates, while analysts had forecast on 13760000000, by consensus quoted by CM-CIC Securities.

In addition, the group said it will pay a dividend of 1.40 euro per share for fiscal 2010, as he did in 2009.