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Vivendi revenues rev-ing up

Company reports half-year sum climbs 9%

PARIS — Vivendi on Friday reported revenues of 19.4 billion euros ($17.6 billion) for the first half of 2000, up 9% vs. the same period last year.

The figure took into account the consolidation of Canal Plus and U.S. Filter, and Vivendi’s withdrawal from construction and property businesses.

Vivendi Communications had net revenues of $5.44 billion, a 68% increase, including the consolidation of the pay TV group Canal Plus, in which it owns a 49% stake. On a like-for-like basis and at constant exchange rates, growth was more than 18%, reaching 20% in France, the company said.

‘In line with projections’

On the eve of its deal with Seagram and Canal Plus, Vivendi said in a statement that the results, which were “well in line with projections,” demonstrated “the vitality of the communications activities that form the group’s core business.”

Taking the communication division’s components separately, the audiovisual and Internet interests generated nearly $1.81 billion in revenues, Vivendi said. Of this, $1.63 billion came from the consolidation of Canal Plus for the entire period. The pay TV group has more than 14 million subscribers, including 4.5 million for its digital services, up 44% vs. last year.

Revenue called in

On the telephony side, Cegetel’s revenues were up 28% to $2.18 billion, its SFR unit accounting for $1.91 billion.

The recently floated Vivendi Environnement’s revenues stood at $11.1 billion, integrating 1999 and 2000 acquisitions such as U.S. Filter and Superior Services waste management, compared with $7.71 billion for the first half of last year.

The 40% increase included internal growth of 12%, Vivendi said.

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