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Press Releases by PRWeb and Press Release Jet Compared …

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LAS VEGAS, NV – 02-16-2018 (Press Release Jet) — In the press release distribution industry, some companies are preferred over some others. Some offer better services than others while some charge cheaper than others. Some still offer better services and charge lower prices. Below is a brief comparison of PRWeb and Press Release Jet Press release services.

Cision PRWeb is one of the recommendable press release distribution services you get in the press release industry. PRWeb is offered by Cision as an affordable option. Though if compared with a company like Press Release Jet, it is still seen as costlier.PRWeb offers four tiers of Pricing. Their basic package which is the lowest tier sells for $99 and takes your press release to only their website. This may require you having your own media contact list and being willing to spend your time distributing your press release by yourself. However, there are other companies that offer this kind of service for free.The Premium package which is the highest package costs $349 and includes all of the above packages. It allows customers to incorporate images, videos, and links in their press release. This sounds better and more attractive than all the others but not better than Press Release Jet.Press Release Jet is a high-end competitor that has a higher distribution list and its prices are cheaper with a higher ROI. Their premium package costs $69 and distributes to 250+ media sites. Premium Pro costs $129 and distributes your press release to 375+ media sites while Premium Concierge costs $299 and distributes to 400+ media sites. All these packages guarantee your press release to premium news outlets like ABC, NBC, CBS, CW. And FOX.Now we see that press releases by Press Release Jet are better than that done by PRWeb because it has a wider distribution list than PRWeb whose distribution list is limited. It is, therefore, better to go for Press Release Jet.Create an order with Press Release Jet now to start enjoying these amazing benefits.

Media Contacts:

Company Name: Press Release Jet
Full Name: Media Relations
Phone: N/A
Email Address: Send Email
Website: https://pressreleasejet.com

For the original news story, please visit https://pressreleasejet.com/news/press-releases-by-prweb-and-press-release-jet-compared.html.

C Spire to test leading edge 5G technology for first time in Mississippi on Tuesday

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FCC Commissioner Brendan Carr, who has been designated as the agency’s lead on wireless infrastructure deployment, will visit the company’s Ridgeland, Mississippi headquarters on Tuesday to witness the first in-state demonstration of Cohere Technologies’ new 5G turboConnect fixed wireless access solution and tour a wireless internet trial site in Pelahatchie.

Santa Clara, California-based Cohere Technologies developed the 5G turboConnect fixed wireless access solution, which is based on the company’s groundbreaking Orthogonal Time Frequency and Space (OTFS) wireless modulation technology, to help broadband companies and wireless providers meet the growing demand for advanced services and the timely development of 5G standards.

The test, which is scheduled to begin at 9 a.m., will rely on sub-6GHz lower band spectrum – 3.65 GHz – which provides better 5G coverage inside buildings and in rural areas.  5G is expected to pave the way for wider adoption of the Internet of Things (IoT), self-driving cars, smart cities, artificial intelligence and robotics and broader deployment of technology-enabled telehealth and telemedicine applications.

With a variety of 5G technologies and massive deployment of new sites needed to meet the future technology demands of consumers, business and industry, Carr will discuss with C Spire how streamlined permitting across all levels of government and efficient spectrum policy can help accelerate availability of advanced broadband.

C Spire also is continuing to conduct 5G technology trials using high-band millimeter wave spectrum in the 28 GHz and 60 GHz ranges.

About C Spire
C Spire is a leading technology company committed to transforming Mississippi through the C Spire Tech Movement, which includes the massive deployment of broadband internet to homes and small businesses, a state-of-the-art digital experience for its customers and team members, technology innovation leadership and the creation and retention of a 21st century technology workforce.  The company provides world-class, customer-inspired wireless communications, 1 Gigabit consumer Internet access as well as a full suite of dedicated Internet, wireless, IP Voice, data and cloud services for businesses.  This news release and other announcements are available at www.cspire.com/news. For more information about C Spire, visit www.cspire.com or follow us on Facebook at www.facebook.com/cspire or Twitter at www.twitter.com/cspire.

Dave Miller, C Spire
(601) 974-7725
dnmiller@cspire.com 

 

View original content with multimedia:http://www.prnewswire.com/news-releases/c-spire-to-test-leading-edge-5g-technology-for-first-time-in-mississippi-on-tuesday-300600635.html

SOURCE C Spire

Related Links

http://www.cspire.com

Newstrike Completes Previously Announced $80 Million Bought Deal Financing

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NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

TORONTO, Feb. 16, 2018 (GLOBE NEWSWIRE) — Newstrike Resources Ltd. (TSXV:HIP) (“Newstrike” or the “Company”) is pleased to announce that it has closed its previously announced short form prospectus offering on a bought deal basis.  A total of 60,610,000 units of the Company (“Units”) were sold at a price of $1.32 per Unit (the “Issue Price”), for aggregate gross proceeds of $80,005,200 (the “Offering”).  The Offering was underwritten by a syndicate of underwriters co-led by INFOR Financial Inc. and Cormark Securities Inc. and including Eight Capital and Haywood Securities Inc. (collectively, the “Underwriters”).

“This transformational Offering provides Newstrike and our wholly-owned licensed producer, Up Cannabis, with the capital required to complete our Niagara Facility, accelerate and enhance the national launch of the Up-Cannabis brand and seize select strategic opportunities that complement our growth strategy,” said Jay Wilgar, Newstrike’s CEO.

In addition, as previously announced, the Company has granted the Underwriters an over-allotment option to purchase up to an additional 15% of the Units at the Issue Price, exercisable in whole or in part, at any time on or prior to the date that is 30 days following the closing of the Offering. If this option is exercised in full, an additional $12,000,780 will be raised pursuant to the Offering and the aggregate proceeds of the Offering will be $92,005,980.

Each Unit is comprised of one common share of the Company (a “Common Share”) and one common share purchase warrant (a “Warrant”). Each Warrant shall entitle the holder thereof to purchase one additional Common Share at an exercise price of $1.75, for a period of 24 months following the closing of the Offering. In the event that the volume weighted average trading price of the Common Shares for ten (10) consecutive trading days exceeds $2.60, the Company shall have the right, subject to the approval of the TSX Venture Exchange (the “TSXV”), to accelerate the expiry date of the Warrants upon not less than fifteen (15) trading days’ notice. The Company has applied to list the Warrants for trading on the TSXV.

“The endorsement of INFOR Financial, Cormark Securities, Eight Capital and Haywood Securities is a tremendous complement to our already-strong shareholder-base and an important demonstration of confidence from the capital markets,” noted Scott Kelly, Newstrike’s Executive Chair.  ”We are grateful for the assistance and guidance of our legal team at Cassels Brock Blackwell LLP and our auditors, DMCL LLP as well as the long-term support of PowerOne Capital, Primary Capital and CRM Global Capital.”

The Company intends to use the proceeds of the Offering to build-out its production facilities, for the retirement of certain debt obligations and for general, corporate and select strategic purposes.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the “1933 Act”), and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act, as amended, and applicable state securities laws.

For further information, please contact:
Jay Wilgar 
Chief Executive Officer 
Newstrike Resources Ltd. 
905.844.8866 ext 21

About Newstrike and Up Cannabis
Newstrike is the parent company of UP Cannabis Inc. (“Up Cannabis”), a licensed producer of cannabis that received its cultivation license on December 19, 2016, and was granted an amendment to begin sales on January 5, 2018. Up Cannabis is in turn the parent company of Up Cannabis Niagara Inc. Newstrike, together with its strategic partners, including Canada’s iconic musicians, The Tragically Hip, is developing a diverse network of high quality cannabis brands. For more information visit www.up.ca or www.newstrike.ca.

ForwardLooking Information

This news release contains forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Newstrike to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These forward-looking statements include, but are not limited to, statements relating to Newstrike’s expectations with respect to the use of proceeds of the Offering, the exercise of the over-allotment option and the listing of the Warrants for trading on the TSXV. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements contained in this news release are made as of the date of this release and, accordingly, are subject to change after such date.

Newstrike does not assume any obligation to update or revise any forward-looking statements, whether written or oral, that may be made from time to time by us or on our behalf, except as required by applicable law.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

Fraser Institute News Release: More than 80 Ontario high schools show improvement in math, despite worrying trend …

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TORONTO, Feb. 18, 2018 (GLOBE NEWSWIRE) — Despite recent headlines about disappointing math scores in provincewide testing across Ontario, some secondary schools are bucking the trend, according to the Fraser Institute’s annual Report Card on Ontario’s Secondary Schools released today.

This year’s report card finds that 37 high schools in Ontario have shown statistically significant improvement over the last four years in Grade 9 academic math and 47 schools have improved in applied math.

“If struggling schools want to improve math results, they can find out what works for improving schools and, wherever possible, adopt these proven methods,” said Peter Cowley, director of school performance studies at the Fraser Institute.

Crucially, the improving schools are located across Ontario—in both urban and rural areas—and serve different types of communities and students.

For example, the fastest-improving school in academic math is Stayner Collegiate Institute near Collingwood, which improved its average score from 2.0 to 2.8 out of 4. The fastest improver in applied math is C.W. Jeffreys Collegiate Institute in Toronto’s Jane and Finch area, which improved its score from 1.8 in 2013 to 3.2 (out of four) in 2017.

Likewise, schools as far north as Kapuskasing and Sioux Lookout have improved in math, as have schools in Windsor, Welland, rural communities outside of Ottawa, and in downtown Toronto.

Moreover, some schools serving large numbers of special needs students have also shown statistically significant improvement in math. For example Geraldton Composite High School in northern Ontario is one of the top 10 fastest improvers in academic math even though 52 per cent of its students have special needs.

“These schools are proof that no one city and no one type of student or socioeconomic situation has a monopoly on improvement—it’s possible for every school to improve, whether in math or any other area of the curriculum,” Cowley said.

This year’s report card, available at www.compareschoolrankings.org, ranks 747 anglophone and francophone public and Catholic secondary schools (and a small number of independent and First Nations schools) on seven academic indicators based on results of annual provincewide Grade 9 math and Grade 10 literacy tests.

10 fastest-improving secondary schools in Ontario for Gr. 9 academic math (fastest at the top)

10 fastest-improving secondary schools in Ontario for Gr. 9 applied math (fastest at the top)

MEDIA CONTACT
Peter Cowley
Director of School Performance Studies, Fraser Institute
Cell: (604) 789-0475
Office: (604) 714-4556
E-mail: peter.cowley@fraserinstitute.org

Bryn Weese
Media Relations Specialist, Fraser Institute
Cell: (604) 250-8076
Office: (604) 688-0221 Ext. 589
E-mail: bryn.weese@fraserinstitute.org

Follow the Fraser Institute on Twitter  |  Like us on Facebook

The Fraser Institute is an independent Canadian public policy research and educational organization with offices in Vancouver, Calgary, Toronto, and Montreal and ties to a global network of think-tanks in 87 countries. Its mission is to improve the quality of life for Canadians, their families and future generations by studying, measuring and broadly communicating the effects of government policies, entrepreneurship and choice on their well-being. To protect the Institute’s independence, it does not accept grants from governments or contracts for research. Visit www.fraserinstitute.org

 

‘Vagina Mohawks’ Made An Appearance At New York Fashion Week

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“All differences, even if not fully understood or agreed with, should find tolerance; all creatures deserve room under the sun,” the release said. “The main collection strives to reflect individual desire to transform and to become the best version of one’s self, ultimately being proud of one’s uniqueness.” 

SHOW ME VISION: From press release to portrait series

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Aliyah Simmons, 9, holds her drawing of Beyoncé. “I think she is really pretty, and she was both easy and hard to draw,” Simmons said. “Her eyes and her hair were hard to draw. I like her music.” She used colored pencils and markers to create her drawing, and she said it took her about a week to make. 

St. Marys Cement (Canada) Inc. Early Warning Press Release

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TORONTO, Feb. 16, 2018 (GLOBE NEWSWIRE) — St. Marys Cement (Canada) Inc. (the “Shareholder”) filed an early warning report (the “Early Warning Report”) advising of its direct acquisition of common shares (the “Common Shares”) of Pond Technologies Holdings Inc. (the “Issuer”).

On January 30, 2018, pursuant to the reverse takeover of Ironhorse Oil Gas Inc. (“Ironhorse”) by Pond Technologies Inc. (“Pond”) by way of a three-cornered amalgamation (the “Transaction”), the Shareholder acquired an aggregate of 3,042,571 Common Shares, representing approximately 15.67% of the Common Shares issued and outstanding following completion of the Transaction on an undiluted basis.

Pursuant to the Transaction, Ironhorse issued an aggregate of 11,731,244 post-consolidated common shares in the capital of the Resulting Issuer (each, a “Common Share”) to the former shareholders of Pond (each, a “Pond Shareholder”), including the Shareholder. Prior to the closing of the Transaction, Ironhorse changed its name to “Pond Technologies Holdings Inc.”  Pursuant to the Transaction, each Pond Shareholder, including the Shareholder, transferred their Pond common shares (“Pond Shares”) to Ironhorse in exchange for one Common Share for each Pond Share held, and the convertible securities of Pond were exchanged for like securities of the Resulting Issuer, also on a 1 for 1 basis. Including Common Shares issued pursuant to a brokered equity financing completed by Pond concurrently with the closing of the Transaction (the “Financing”), upon closing of the Transaction, an aggregate of 19,414,430 Common Shares were issued and outstanding.

The above percentage is calculated based on 19,414,430 Common Shares issued and outstanding after giving effect to the Transaction and the Financing.  The Shareholder did not own any securities of the Issuer prior to the closing of the Transaction.

The Shareholder acquired the securities for investment purposes, and currently has no other plans or intentions that relate to or would result in any change to its investment in the Issuer.  However, depending on market conditions, general economic and industry conditions, trading prices of the Issuer’s securities, the Issuer’s business, financial condition and prospects and/or other relevant factors, the Shareholder may develop such plans or intentions in the future and, at such time, may from time to time acquire or dispose of securities of the Issuer.

A copy of the Early Warning Report can be obtained at www.sedar.com under the Issuer’s company profile.

Contact Name: Bill Asselstine

Title: Vice President

Telephone: 416-696-4414

Press release – School visit in UK

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What place is there for culture in Europe’s future?

Teenagers from Bearsden prepare to tell Brussels

On 19 February at 9.30 a.m., Bearsden Academy will welcome Mr Brendan Burns, member of the European Economic and Social Committee, to prepare for “Your Europe, Your Say” (YEYS), the youth assembly which will take place in Brussels on 15-16 March 2018.

Thirty-three schools from across Europe, 28 EU Member States and five candidate countries, will come to Brussels and tell European institutions just what role they see culture playing in Europe’s future. They will brainstorm, debate and vote on three proposals which European institutions will factor into their policy making.

Brendan Burns will work with the students in advance of the March meeting to prepare answers to some key questions concerning the future for European culture:

  • What is European culture: is it just the sum of national traditions or are there common values that make us all Europeans?
  • What is the role of culture and cultural exchanges in students’ lives?
  • What can the European Union do to promote culture (cinema, music, dance, literature, theatre, etc.) and better protect cultural heritage sites?
  • What role could culture play in the economic rebirth of Europe’s regions and cities?
  • How can this rebirth give new opportunities to young people in terms of new jobs?

Called “Your Europe, Your Say!” (YEYS), the event is organised by the European Economic and Social Committee (EESC), the voice of civil society at European level, and is the Committee’s flagship event for young people. Through this initiative, the EESC is making sure that the views, experiences and ideas of the younger generation are taken on board in EU policy making.

Brendan Burns has been a member of the EESC since 2006 and he is active within the Employers’ Group.

Further details about YEYS2018 are available on the event’s official page and in last year’s video here.

Vivendi: Strong Performance of the Main Business Activities in 2017

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PARIS–(BUSINESS WIRE)–Regulatory News:

Vivendi (Paris:VIV):

  • Universal Music Group: very solid performance fueled by the
    success of subscription and streaming services as well as a number of
    successful album releases. Agreements with Spotify, Tencent, YouTube
    and Facebook.
  • Canal+ Group: ongoing recovery in France. Continued growth of
    international operations.
  • Havas: highly accretive acquisition, representing a six-month
    contribution of €1.151 billion to Vivendi’s 2017 revenues and €111
    million to Vivendi’s 2017 EBITA.
  • Gameloft: 12% growth in revenues from advertising activities
    and sales via app stores. Improvement in income from operations at
    constant currency and perimeter.
  • Investments in new businesses (CanalOlympia, Vivendi Africa,
    Live, Vivendi Content, Dailymotion…) that will create additional
    sources of revenue.

 

 

Full Year 2017

 

Q4 2017

 

KEY FIGURES

 

 

 

% change
year-on-
year

 

% change
year-on-
year at
constant
currency
and
perimeter2

 

 

 

% change
year-on-

year

 

% change
year-on-
year at
constant
currency
and
perimeter3

Revenues

 

€12,444 M

 

+15.0%

 

+4.9%

 

€3,823 M

 

+23.0%

 

+6.8%

Income from operations4,5

 

 

€1,116 M

 

+30.9%

 

+17.0%

 

€375 M

 

x3.1

 

x2.5

EBITA4,5

 

€987 M

 

+36.4%

 

+23.1%

 

€342 M

 

x5.8

 

x4.8

of which UMG

 

€761 M

 

+18.3%

 

+20.6%

 

€319 M

 

+9.9%

 

+14.6%

Canal+ Group

 

€318 M

 

+32.1%

 

+31.1%

 

-€8 M

 

na

 

na

EBIT

 

€1,036 M

 

+16.8%

 

 

 

€364 M

 

x5.8

 

 

Earnings attributable to Vivendi SA
shareowners5

 

€1,228 M

 

-2.2%

 

 

 

€828 M

 

x10.3

 

 

Adjusted net income4,5

 

€1,312 M

 

+73.9%

 

 

 

€719 M

 

x5.6

 

 

This press release contains audited consolidated financial results
established under IFRS, which were approved by Vivendi’s Management
Board on February 12, 2018, reviewed by the Vivendi Audit Committee on
February 13, 2018, and by Vivendi’s Supervisory Board on February 15,
2018.

Vivendi’s Supervisory Board met today under the chairmanship of Vincent
Bolloré and reviewed the Group’s Consolidated Financial Statements for
the year ended December 31, 2017, which were approved by the Management
Board on February 12, 2018.

Vivendi’s main business activities delivered strong economic and
financial performances in 2017.

In 2017, revenues amounted to €12.444 billion, compared to
€10.819 billion in 2016, an increase of 15.0%, notably resulting from
the consolidation of Havas on July 3, 2017 (+€1,151 million). At
constant currency and perimeter2, revenues increased by 4.9%,
primarily driven by Universal Music Group (UMG)’s growth (+10.0%) and
the recovery of Canal+ Group (stable in 2017, compared to a decrease of
4.2% in 2016).

For the fourth quarter of 2017, revenues amounted to €3.823 billion,
compared to €3.107 billion for the fourth quarter of 2016, an increase
of 23.0%, notably as a result of the consolidation of Havas
(+€626 million). At constant currency and perimeter3,
revenues increased by 6.8%, driven by UMG’s growth (+8.2%) and Canal+
Group (+5.7% compared to the fourth quarter of 2016), which confirms its
recovery.

Income from operations amounted to €1.116 billion in 2017,
compared to €853 million in 2016, an increase of 30.9%, notably
resulting from the consolidation of Havas (+€135 million). At constant
currency and perimeter2, income from operations increased by
17.0% driven by UMG’s growth (+€127 million) and the recovery of Canal+
Group (+€61 million), partially offset by development costs incurred by
New Initiatives.

For the fourth quarter of 2017, income from operations amounted to
€375 million, compared to €123 million for the fourth quarter of 2016,
notably resulting from the consolidation of Havas (+€91 million). At
constant currency and perimeter3, income from operations
increased by €184 million driven by the recovery of Canal+ Group (an
increase of €147 million compared to the fourth quarter of 2016) and
UMG’s growth (+€46 million), partially offset by development costs
incurred by New Initiatives.

This improvement resulted in the acceleration of Canal+ Group’s
reorganization plans, including, in particular, the closure of a call
center in Saint Denis and the restructuring of a call center in Rennes
whose costs were twice those for services provided by third parties. In
the aggregate, reorganization cost represented a charge of nearly
€40 million for the fourth quarter of 2017, of which €26 million was
recorded in income from operations and €14 million in restructuring
charges.

EBITA amounted to €987 million in 2017, compared to €724 million
in 2016, an increase of 36.4%, notably resulting from the consolidation
of Havas (+€111 million). At constant currency and perimeter2,
EBITA increased by 23.1%, driven by UMG’s growth (+€133 million) and the
recovery of Canal+ Group (+€75 million), partially offset by development
costs incurred by New Initiatives.

For the fourth quarter of 2017, EBITA amounted to €342 million, compared
to €60 million for the fourth quarter of 2016, an increase of
€282 million notably resulting from the consolidation of Havas
(+€77 million). At constant currency and perimeter3,
EBITA increased by €226 million, driven by the recovery of Canal+ Group
(+€181 million compared to the fourth quarter of 2016) and UMG’s growth
(+€43 million).

EBIT amounted to €1.036 billion in 2017, compared to €887 million
in 2016, an increase of 16.8% notably resulting from the increase in
EBITA (+€263 million).

For the full year, the income contributions from equity affiliates
amounted to €146 million. This mainly includes Telecom Italia (€144
million), which is accounted for under the equity method6.

For the fourth quarter of 2017, EBIT amounted to €364 million, compared
to €63 million for the fourth quarter of 2016, a €301 million increase,
mainly resulting from the increase in EBITA (+€282 million).

In 2017, earnings attributable to Vivendi SA shareowners
amounted to a profit of €1.228 billion (or €0.98 per share), compared to
€1.256 billion in 2016 (or €0.99 per share), almost stable compared to
2016.

This change reflected the increase in EBIT (+€149 million), resulting
from the consolidation of Havas, the good performance of UMG and the
recovery of Canal+ Group, as well as the current tax income of
€409 million following the settlement of the litigation related to the
Consolidated Global Profit Tax System of 2011, and the tax income of
€243 million corresponding to the refund of the amounts paid by
Vivendi SA and its subsidiaries with respect to the 3% tax on dividend
distributions. These positive elements in 2017 occurred after a 2016
fiscal year that included non-recurring items: the reversal of reserve
related to the Liberty Media litigation in the United States
(€240 million) as well as the net capital gain on the sale of Vivendi’s
remaining interest in Activision Blizzard in January 2016 (€576 million,
before taxes).

In 2017, adjusted net income amounted to a profit of
€1.312 billion (or €1.05 per share), compared to €755 million in 2016
(or €0.59 per share), a 73.9% increase.

In 2017, the cash flow from operations (CFFO) generated by the
Group’s businesses amounted to €989 million (compared to €729 million in
2016), an increase of €260 million (+35.7%). This change reflected in
particular the contribution of Havas (+€308 million), consolidated since
July 3, 2017, as well as UMG’s operating performance and the recovery of
Canal+ Group.

Cash flow from operations after interest and income taxes paid (CFAIT)
represented a net inflow of €1.346 billion in 2017, an improvement of
€1.005 billion compared to 2016. In addition to the increase in CFFO,
this improvement mainly resulted from the favorable change in the cash
flows related to income taxes.

As of December 31, 2017, Vivendi’s Financial Net Debt amounted to
€2.340 billion, compared to a Net Cash Position of €1.231 billion as of
December 31, 2016. The average maturity of total debt is 5.0
years.
The value of the listed equity portfolio amounted to
€6.377 billion as of December 31, 2017.

The change in Financial Net Debt mainly resulted from the acquisition of
Havas starting on July 3, 2017, representing an overall impact of €3.998
billion as of December 31, 2017, comprising the acquisition price of
100% of Havas’s share capital for €3.925 billion (including the
financial transaction tax) and the Financial Net Debt of Havas as of
July 3, 2017 in the amount of €73 million.

2017 Dividend

The Supervisory Board approved the Management Board’s proposal to pay an
ordinary dividend of €0.45 per share with respect to fiscal year 2017,
up 12.5%, representing a return of approximately 2%. This proposed
dividend will be submitted to the Annual General Shareholders’ Meeting
to be held on April 19, 2018 for approval.

Consolidation of Havas

Vivendi has fully consolidated Havas since July 3, 2017 after acquiring
59.21% of its share capital, and it has held 100% of Havas since
December 14, 2017.

This acquisition of the world’s sixth largest communications group is
accelerating Vivendi’s construction of a global leader in content, media
and communications by allowing for significant synergies with the
Group’s other businesses in a context of convergence between content,
distribution and communications. It also gives Havas a new dimension to
compete with powerful global players.

The acquisition of Havas contributes strongly to Vivendi’s financial
results, with a positive impact for the second half of 2017 of €1.151
billion on Vivendi’s revenues and of €111 million on Vivendi’s EBITA.

Comments on Business Key Financials

Universal Music Group

Universal Music Group’s (UMG) revenues amounted to €5.673 billion, up
10.0% at constant currency and perimeter compared to 2016 (+7.7% on an
actual basis).

Recorded music revenues grew by 11.3% at constant currency and perimeter
as growth in subscription and streaming revenues (+35.4%) more than
offset the decline in both download and physical sales.

Music publishing revenues grew by 9.6% at constant currency and
perimeter, also driven by increased subscription and streaming revenues,
as well as growth in synchronization and performance revenues.

Merchandising and other revenues were down 7.1% at constant currency and
perimeter, due to lower touring activity.

Recorded music best sellers for the year included new releases from
Taylor Swift, Kendrick Lamar and Drake, carryover sales from The Weeknd,
the Despacito single from Luis Fonsi and the 50th
Anniversary edition of Sgt. Pepper’s Lonely Hearts Club Band by
the Beatles, as well as soundtrack releases from the movies Moana
and La La Land.

UMG’s income from operations amounted to €798 million, up 18.5% at
constant currency and perimeter compared to 2016 (+16.2% on an actual
basis) as a result of higher revenues.

UMG’s EBITA amounted to €761 million, up 20.6% at constant currency and
perimeter compared to 2016 (+18.3% on an actual basis) as a result of
higher revenues and lower restructuring charges. 2016 EBITA included
legal settlement income.

In 2017, UMG entered into a number of innovative agreements with both
new and established streaming partners. After announcing a landmark deal
with Tencent in May 2017, and re-setting its relationship with Spotify
in April 2017 and YouTube in December 2017, UMG entered into a
groundbreaking deal with Facebook, also in December 2017. This deal, for
the first time forged a true commercial partnership between a major
music company and the world’s largest social platform. In conjunction
with UMG’s existing partnerships with Amazon and Apple, UMG is fostering
an increasingly competitive and dynamic market for music among the
biggest tech platforms and music services in the world.

In 2018, UMG should be able to benefit from the growth of the market
particularly as a result of the development of subscription and
streaming services.

Canal+ Group

Canal Group’s revenues amounted to €5.246 billion, up 0.3% at constant
currency and perimeter compared to 2016. This amount, almost stable
compared to 2016, confirms the recovery observed quarter after quarter.
In the fourth quarter of 2017, Canal+ Group’s revenues amounted to
€1.421 billion, up 5.7% at constant currency and perimeter compared to
the fourth quarter of 2016.

At the end of December 2017, Canal+ Group recorded an increase in its
subscriber base of 586,000 net additions year-on-year, and had nearly
11.9 million [individual] subscribers, plus an additional 3.1 million
customers from wholesale partnerships with telecom operators in France,
in particular Free and Orange. At the end of December 2017, Canal+
Group’s overall portfolio (individual and collective) amounted to 15.6
million subscribers, compared to 15.0 million at the end of December
2016.

Revenues from television operations in mainland France were down 3.8%
compared to 2016. The situation is improving quarter-by-quarter with a
slowdown in the decline.

In 2017, with an audience share of 4.1% among 25-49 year olds, C8 was
the leading DTT channel in France for the fourth consecutive year
despite slightly lower revenues, which had been negatively impacted by
the significant sanctions (fine and advertising ban), imposed by the
French Broadcasting Authority (Conseil Supérieur de l’Audiovisuel)
in June-July 2017.

Revenues from international TV operations grew by 4.8% compared to 2016
(+5.8% at constant currency and perimeter), thanks to continued growth
in the individual subscriber base, particularly in Africa with a
year-on-year increase of nearly 700,000, which reached nearly
3.5 million subscribers at the end of December 2017.

Studiocanal’s revenues amounted to €467 million, up 12.2% compared to
2016 (+13.9% at constant currency and perimeter). This increase
reflected strong theatrical performances, notably in France, where
Studiocanal was number one among French distributors with a total of
15.5 million tickets sold, including five movies with over one million
tickets sold (Alibi.com, Marry Me Dude (Epouse-Moi Mon Pote), Sahara,
The School of Life (L’Ecole Buissonnière),
and Paddington 2).
This is the best theatrical performance recorded by Studiocanal since
2006.

Canal+ Group’s income from operations amounted to €367 million, compared
to €303 million in 2016 (+20.2% at constant currency and perimeter).

EBITA before restructuring charges amounted to €367 million up nearly
30% at constant currency and perimeter year-on-year. The higher than
expected restructuring charges mainly reflected the reorganization of
customer relation centers. EBITA after restructuring charges amounted to
€318 million, compared to €240 million in 2016 (+32.1%).

The strong growth in EBITA was notably driven by the cost savings plan
initiated in 2016, the improvement of
TV in mainland France, the
sustained international growth and the strong performance of Studiocanal.

The target EBITA before restructuring charges is around €450 million for
Canal+ Group in 2018.

In early 2018 Canal+ Group launched a new state-of-the-art 4K-Ultra HD
satellite and Internet set-top box in France. It has also secured the
broadcasting rights for Africa to major football competitions for
several seasons: the UEFA Champions League, all French football
including the French Football Cup, the 2018 FIFA World Cup Russia, and
the Africa Cup of Nations whose entire CAN 2019 will be available to
Canal+ subscribers in Africa.

Havas

Vivendi has fully consolidated Havas since July 3, 2017. For fiscal year
2017, Havas’s contribution corresponds to the last six months of 2017
and amounted to €1.151 billion in revenues and €111 million in EBITA.

For the second half of 2017, Havas’s revenues (gross margin) amounted to
€1.151 billion. This represents an increase of 8% at constant currency
compared to the first half of 2017.

In the second half of 2017, organic growth decreased by 1.1% compared to
the second half of 2016 (-2.1% for the fourth quarter of 2017), due in
particular to an unfavorable base effect compared to 2016. By way of
reminder, the second half of 2016 included a strong fourth quarter (+
4.2%), the strongest of 2016. At constant currency, revenue (gross
margin) for the second half of 2017 was stable compared to the second
half of 2016.

For the full year 2017, revenue (gross margin) amounted to €2.259
billion, a slight decrease of 0.7% compared to 2016. Annual organic
growth was negative at -0.8%, due to the sectoral market environment
that penalizes all players in the communication industry. At constant
currency, annual growth was positive at +0.5%. Acquisitions contributed
+1.0% in the second half of 2017 and +1.3% for the full year.

By geographical area, Europe remains weak despite the strong dynamism of
French agencies. The Media business is experiencing a slowdown
especially in Spain and the United Kingdom. North America recorded a
decline, due to a very unfavorable base effect. The Latin America region
as well as the Asia Pacific and Africa region both recorded double-digit
organic growth.

In terms of profitability, the second half was better than the first,
thanks to the first effects of cost savings. As a result, income from
operations reached €135 million in the second half of 2017, representing
a margin of 11.7% (versus 10.7% in the first half of 2017). For the full
year of 2017, income from operations amounted to €254 million.

For the second half of 2017, EBITA amounted to €111 million. It included
€24 million of exceptional charges (including restructuring charges of
€15 million). For the full year 2017, EBITA amounted to €212 million.

In 2017, various Havas agencies won a total of 1,500 awards, including
41 Lions in Cannes (compared to 23 in 2016). Several agencies received
an Agency of the Year award from the prestigious trades AdWeek and Media
Post, including Havas Media in North America.

During the second half of 2017, Havas pursued its dynamic external
growth strategy. The most significant acquisitions included Blink, a
social network agency in Israel; The88, a digital and social agency
based in New York renamed Annex88; Ganfood, a creative and advice
agency, and HVS, a media agency, both based in Algeria; So What Global,
a healthcare communication agency in the United Kingdom and Immerse, a
Malaysian digital agency.

The integration into the Vivendi group will accelerate the creation of a
world leader in content, media and communications.

Gameloft

With more than 2.5 million downloads per day across all platforms in
2017, Gameloft is the world’s largest mobile video game publisher.

Gameloft’s revenues amounted to €258 million in 2017. The revenues
derived from the market segments identified as priority in terms of
development (advertising and app stores) increased by 12% year-on-year.

Revenues generated by Gameloft Advertising Solutions grew
significantly, by 93% compared to 2016, and represent 14.1% of global
revenues. Revenues generated by the Apple, Google and Microsoft stores
(in-App sales) were up 5% compared to 2016.

The breakdown of revenues by geographical market was as follows: 34% in
the EMEA region (Europe, the Middle East and Africa), 28% in Asia
Pacific, 27% in North America, and 11% in Latin America.

In 2017, the number of Gameloft’s monthly active users (MAU) reached an
average of 128 million and its daily active users (DAU) reached an
average of 15 million.

65% of Gameloft’s revenues were generated by internally developed
franchises. Gameloft has benefited from the strong performance of its
catalog, with a strong revenue growth of its bestselling games such as Dragon
Mania Legends
, Disney Magic Kingdoms, March of Empires,
Asphalt 8: Airborne and Dungeon Hunter 5.

Gameloft released ten new games on smartphone in 2017: Gangstar New
Orleans
, N.O.V.A. Legacy, City Mania, Blitz
Brigade: Rival Tactics
, Iron Blade, Asphalt Street Storm
Racing
, War Planet Online, Modern Combat Versus,
Paddington™ Run
and Sonic Runners Adventure.

Thanks to the good control of operating costs, Gameloft’s income from
operations amounted to €10 million, up 12.6% at constant currency and
perimeter compared to 2016, and EBITA amounted to €4 million in 2017.

Vivendi Village

Vivendi Village’s annual revenues amounted to €109 million, down 1.4%
compared to 2016, but up 4.5% at constant currency and perimeter.

Over the same period, Vivendi Village’s income from operations amounted
to a loss of €6 million, an improvement of 7.1% compared to 2016 and of
60.5% at constant currency and perimeter. EBITA amounted to -€18 million
(-€9 million in 2016) due to Watchever’s discontinuation charges.

Vivendi Ticketing, with revenues of €52 million in 2017, recorded very
strong ticket sales during the 4th quarter (4.6 million
compared to 4 million in 2016). MyBestPro, which offers web-based expert
counseling, recorded revenues of €27 million in 2017, up 8.9%.

As for live activities, Olympia Production, which supports around twenty
artists in the fields of music and comedy, acquired two major music
festivals, Les Déferlantes and Live au Campo, located in the South of
France. In total, Vivendi now holds majority interests in 12 festivals
in France and around the world.

In Africa, CanalOlympia currently operates eight cinema and
entertainment venues in sub-Saharan countries. Four more venues are
under construction and negotiations are underway for several additional
sites. In addition, a new activity, Vivendi Sports, was launched, to
plan and organize sporting events in Africa. The first was the Tour
de l’Espoir
, a cycling race for people under 23 years-old, which
took place in Cameroon at the end of January 2018 under the aegis of the
Union Cycliste Internationale.

New initiatives

New Initiatives, which groups together projects being launched or under
development including Dailymotion, Vivendi Content (Studio+, Vivendi
Entertainment) and GVA (Group Vivendi Africa), recorded revenues
amounting to €51 million. In 2017, these investments for the future lead
to an income from operations amounting to a loss of €87 million.

Dailymotion transformed its offer by launching a new customer experience
in July 2017, making it easier to discover and watch videos, tapping
directly into users’ interests and desires. This new offer, primarily
targeting the 25-49 age group, relies on premium content provided by
hundreds of first-class partners around the world, including Universal
Music Group, CNN and Vice.

Since its launch, the new Dailymotion app recorded 3.3 million
downloads. Premium video consumption increased by 50% and the number of
videos viewed during any given session increased by 20%.

Studio+ has developed its offers and expanded its distribution
territories through a launch in the United States in November 2017 and
through the strengthening of distribution agreements with telecom
partners, notably Vivo in Brazil and TIM in Italy. In addition, as a
result of their success (40 international awards, including 2 Emmy
nominations), the Studio+ original series benefit from a second
broadcast window in a long format, either on Pay-TV (Canal+) or on OTT
(TIM Vision, MyCanal). An international television distribution
agreement also has been entered into with Gaumont.

Vivendi Entertainment is the creator of TV games such as Guess My Age,
to date sold in 10 countries, including Italy where it is broadcast
daily in the early evening and live in the evening (prime time). A new
format, Couple or not Couple (Couple ou Pas Couple), was
successfully launched on the French channel C8 in December 2017 and has
already been sold in three additional countries.

After launching a first ultra-high-speed fiber optic offer in
Libreville, Gabon, on October 26, 2017, GVA, which invests in, builds
and manages its own network, plans to launch a second offer in Lomé,
Togo, in the coming weeks in partnership with Canal+ Group for the
distribution.

Paddington, a powerful franchise

The many projects developed around Paddington Bear perfectly illustrate
the collaboration and synergies implemented across the Group to build a
powerful entertainment franchise. All of the Group’s businesses
contributed to this franchise: movies, TV series and other programs,
music, mobile games, live events and merchandising.

Paddington 2, a movie produced by Studiocanal in the wake of the success
of the first movie in 2014, was released on November 10, 2017 in the
United Kingdom, on December 6, 2017 in France, and then distributed in a
hundred or so countries around the world. To date, it has generated over
$200 million in global revenues.

Gameloft developed PaddingtonTM Run, the
official game of the second movie, available in 15 languages since
October 26, 2017. Its studios worked closely with the creative teams of
Studiocanal and The Copyrights Group, the Vivendi Village subsidiary
managing the Paddington Bear licensing rights. The latter has entered
into several important partnerships related to the franchise, notably
with Harper Collins, the world’s second largest publishing company, with
Marks Spencer for its Christmas campaign, with Europapark, Europe’s
second largest theme park, and with UNICEF. In addition, Havas created
several communication campaigns for the brand and its digital ecosystem.

For additional information, please refer to the “Financial Report and
Audited Consolidated Financial Statements for the year ended December
31, 2017” released online today on Vivendi’s website (
www.vivendi.com).

About Vivendi

Vivendi is an integrated content, media and communications group. The
company operates businesses throughout the media value chain, from
talent discovery to the creation, production and distribution of
content. Universal Music Group is the world leader in music, engaged in
recorded music, music publishing and merchandising. It owns more than 50
labels covering all music genres. Canal+ Group is the leading pay-TV
operator in France, also engaged in Africa, Poland and Vietnam. Its
subsidiary Studiocanal is the leading European player in production,
sales and distribution of movies and TV series. Havas is one of the
world’s largest global communications group. It is organized in three
main business segments covering all the communications disciplines:
creativity, media expertise and healthcare/wellness. Gameloft is a
worldwide leader in mobile games, with 2 million games downloaded per
day. Vivendi Village brings together the Paddington brand’s licensing
activities,
Vivendi Ticketing (in the United Kingdom, the United
States and France), MyBestPro (expert counseling), the venues L’Olympia
and Theâtre de L‘Œuvre in Paris, and CanalOlympia in Africa, as well as
Olympia Production. With 300 million unique users per month, Dailymotion
is one of the biggest video content aggregation and distribution
platforms in the world.
www.vivendi.com,
www.cultureswithvivendi.com

Important Disclaimers

Cautionary Note Regarding Forward-Looking Statements. This press
release contains forward-looking statements with respect to the
financial condition, results of operations, business, strategy, plans
and outlook of Vivendi, including the impact of certain transactions and
the payment of dividends and distributions, as well as share
repurchases. Although Vivendi believes that such forward-looking
statements are based on reasonable assumptions, such statements are not
guarantees of future performance. Actual results may differ materially
from the forward-looking statements as a result of a number of risks and
uncertainties, many of which are outside our control, including, but not
limited to, the risks related to antitrust and other regulatory
approvals as well as any other approvals which may be required in
connection with certain transactions and the risks described in the
documents of the Group filed by Vivendi with the Autorité des Marchés
Financiers (the French securities regulator), which are also available
in English on Vivendi’s website (
www.vivendi.com).
Investors and security holders may obtain a free copy of documents filed
by Vivendi with the Autorité des Marchés Financiers at
www.amf-france.org,
or directly from Vivendi. Accordingly, we caution readers against
relying on such forward looking statements. These forward-looking
statements are made as of the date of this press release. Vivendi
disclaims any intention or obligation to provide, update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.

Unsponsored ADRs. Vivendi does not sponsor an American Depositary
Receipt (ADR) facility in respect of its shares. Any ADR facility
currently in existence is “unsponsored” and has no ties whatsoever to
Vivendi. Vivendi disclaims any liability in respect of any such facility.

ANALYST CONFERENCE CALL

Speakers:
Arnaud de Puyfontaine
Chief Executive
Officer
Hervé Philippe
Member of the Management Board
and Chief Financial Officer

Date: February 15, 2018
6:00pm Paris time – 5:00pm London
time – 12:00pm New York time

Media invited on a listen-only basis.
The conference will
be held in English with a translation in French.

Internet:
The conference can be followed on the Internet at: www.vivendi.com
(audiocast)
Numbers to dial:
France +33 (0) 1 76 77 28
19
Royaume-Uni +44 (0) 330 336 94 11
Etats-Unis +1 323 794 21
49
English original version – Code 832 68 06
French
translation – Code 299 90 17

On our website www.vivendi.com
will be available an audio webcast and the slides of the presentation.

1Compared to 2016.
2 Constant
perimeter in 2017 reflects the impacts of the sale of Radionomy (August
17, 2017), which was integrated into Vivendi Village, and the
acquisition of Havas (July 3, 2017), Paddington (June 30, 2016), which
has been integrated into Vivendi Village, Gameloft (June 29, 2016) and
the acquisition of Thema America (April 7, 2016) by Canal+ Group.

3
Constant perimeter for the fourth quarter of 2017 reflects the
impacts of the sale of Radionomy (August 17, 2017), which was integrated
into Vivendi Village and the acquisition of Havas (July 3, 2017).

4
Non-GAAP measures.
5 Reconciliations of
EBIT to EBITA and to income from operations, as well as a reconciliation
of earnings attributable to Vivendi SA shareowners to adjusted net
income, are presented in Appendix I.

6Information
relating to the equity accounting of Telecom Italia by Vivendi is
provided in the following Notes to the Audited Consolidated Financial
Statements for the year ended December 31, 2017: Note 2 “Major events”
which describes the equity accounting of Telecom Italia; Note 11
“Investments in equity affiliates” which includes the information
required by IAS 28 – Investments in Associates and Joint Ventures; and
Note 21 “Related parties”. In addition to this information presented in
accordance with IFRS, the “Unaudited supplementary financial data:
Vivendi’s interest in Telecom Italia” is provided following the Notes to
the Consolidated Financial Statements. This section provides unaudited
data and does not form an integral part of the Audited Consolidated
Financial Statements for the year ended December 31, 2017.

APPENDIX I

VIVENDI

STATEMENT OF EARNINGS

(IFRS, audited)

Fourth quarter

 

Three months ended
December 31,

 

% Change

2017

 

2016

REVENUES

3,823

3,107

+ 23.0%

Cost of revenues

(2,119)

(2,112)

Selling, general and administrative expenses excluding amortization
of intangible assets acquired through business combinations

(1,329)

(872)

Income from operations*

375

123

x 3.1

Restructuring charges

(28)

(32)

Other operating charges and income

(5)

(31)

Adjusted earnings before interest and income taxes (EBITA)*

342

60

x 5.8

Amortization and depreciation of intangible assets acquired through
business combinations

(32)

(78)

Reversal of reserves related to the Securities Class Action and
Liberty Media litigations in the United States

Income from equity affiliates

54

81

EARNINGS BEFORE INTEREST AND INCOME TAXES (EBIT)

364

63

x 5.8

Interest

(15)

(13)

Income from investments

1

19

Other financial charges and income

(53)

(87)

(67)

(81)

Earnings before provision for income taxes

297

(18)

na

Provision for income taxes

536

73

Earnings from continuing operations

833

55

x 15.1

Earnings from discontinued operations

22

Earnings

833

77

x 10.9

Non-controlling interests

(5)

4

EARNINGS ATTRIBUTABLE TO VIVENDI SA SHAREOWNERS

828

81

x 10.3

Earnings attributable to Vivendi SA shareowners per share – basic
(in euros)

0.66

0.06

Earnings attributable to Vivendi SA shareowners per share – diluted
(in euros)

0.63

0.05

 

Adjusted net income*

719

130

x 5.6

Adjusted net income per share – basic (in euros)*

0.57

0.10

Adjusted net income per share – diluted (in euros)*

0.53

0.10

In millions of euros, except per share amounts.

* non-GAAP measures.

na: not applicable.

Nota: Vivendi made changes in the presentation of its
Consolidated Statement of Earnings as from January 1, 2017. Please refer
to Appendix VI for a detailed description of these changes in
presentation and the reconciliations to previously published financial
data. Taking into account these reclassifications, EBIT for the fourth
quarter of 2016 amounted to €63 million (compared to -€84 million as
published in 2016) and EBIT for the year ended December 31, 2016
amounted to €887 million (compared to €1,194 million as published in
2016).

The non-GAAP measures of “Income from operations”, “adjusted earnings
before interest and income taxes (EBITA)” and “adjusted net income”,
should be considered in addition to, and not as a substitute for, other
GAAP measures of operating and financial performance. Vivendi considers
these to be relevant indicators of the group’s operating and financial
performance. Vivendi Management uses income from operations, EBITA and
adjusted net income for reporting, management and planning purposes
because they exclude most non-recurring and non-operating items from the
measurement of the business segments’ performances.

For any additional information, please refer to the “Financial Report
and Audited Consolidated Financial Statements for the year ended
December 31, 2017“, which will be released online later on Vivendi’s
website (www.vivendi.com).

APPENDIX I

(Cont’d)

VIVENDI

STATEMENT OF EARNINGS

(IFRS, audited)

Year ended December 31

 

Year ended
December 31,

 

% Change

2017

 

2016

REVENUES

12,444

10,819

+ 15.0%

Cost of revenues

(7,210)

(6,829)

Selling, general and administrative expenses excluding amortization
of intangible assets acquired through business combinations

(4,118)

(3,137)

Income from operations*

1,116

853

+ 30.9%

Restructuring charges

(88)

(94)

Other operating charges and income

(41)

(35)

Adjusted earnings before interest and income taxes (EBITA)*

987

724

+ 36.4%

Amortization and depreciation of intangible assets acquired through
business combinations

(124)

(246)

Reversal of reserves related to the Securities Class Action and
Liberty Media litigations in the United States

27

240

Income from equity affiliates

146

169

EARNINGS BEFORE INTEREST AND INCOME TAXES (EBIT)

1,036

887

+ 16.8%

Interest

(53)

(40)

Income from investments

29

47

Other financial charges and income

(100)

438

(124)

445

Earnings before provision for income taxes

912

1,332

– 31.6%

Provision for income taxes

349

(77)

Earnings from continuing operations

1,261

1,255

+ 0.4%

Earnings from discontinued operations

20

Earnings

1,261

1,275

– 1.1%

Non-controlling interests

(33)

(19)

EARNINGS ATTRIBUTABLE TO VIVENDI SA SHAREOWNERS

1,228

1,256

– 2.2%

Earnings attributable to Vivendi SA shareowners per share – basic
(in euros)

0.98

0.99

Earnings attributable to Vivendi SA shareowners per share – diluted
(in euros)

0.95

0.95

 

Adjusted net income*

1,312

755

+ 73.9%

Adjusted net income per share – basic (in euros)*

1.05

0.59

Adjusted net income per share – diluted (in euros)*

1.01

0.54

In millions of euros, except per share amounts.

* Non-GAAP measures.

APPENDIX I

(Cont’d)

VIVENDI

STATEMENT OF EARNINGS

(IFRS, audited)

Reconciliation of earnings attributable to Vivendi SA shareowners to
adjusted net income

 

Three months ended
December 31,

 

Year ended December 31,

(in millions of euros)

2017

 

2016

2017

 

2016

Earnings attributable to Vivendi SA shareowners (a)

829

81

1,228

1,256

Adjustments

Amortization and depreciation of intangible assets acquired through
business combinations

32

78

124

246

Amortization of intangible assets related to equity affiliates

14

(7)

59

45

Reversal of reserves related to the Securities Class Action and
Liberty Media litigations in the United States (a)

(27)

(240)

Other financial charges and income

52

87

100

(438)

Earnings from discontinued operations (a)

(22)

(20)

Provision for income taxes on adjustments

(203)

(86)

(160)

(85)

Non-controlling interests on adjustments

(5)

(1)

(12)

(9)

Adjusted net income

719

130

1,312

755

a. As reported in the Consolidated Statement of Earnings.

Adjusted Statement of Earnings

 

Three months ended
December 31,

 

Year ended December 31,

(in millions of euros)

2017

 

2016

2017

 

2016

Revenues

3,823

3,107

12,444

10,819

Income from operations

375

123

1,116

853

EBITA

342

60

987

724

Income from equity affiliates

68

74

205

214

Interest

(15)

(13)

(53)

(40)

Income from investments

1

19

29

47

Adjusted earnings from continuing operations before provision for
income taxes

396

140

1,168

945

Provision for income taxes

333

(13)

189

(162)

Adjusted net income before non-controlling interests

729

127

1,357

783

Non-controlling interests

(10)

3

(45)

(28)

Adjusted net income

719

130

1,312

755

APPENDIX II

VIVENDI

REVENUES, INCOME FROM OPERATIONS AND EBITA

BY BUSINESS SEGMENT

(IFRS, audited)

Fourth quarter

 

Three months ended December 31,

(in millions of euros)

2017

 

2016

 

% Change

 

% Change at
constant currency

 

% Change at
constant currency
and perimeter (a)

Revenues

Universal Music Group

1,688

1,644

+2.7%

+8.2%

+8.2%

Canal+ Group

1,421

1,351

+5.1%

+5.7%

+5.7%

Havas

626

na

na

na

Gameloft

65

69

-5.6%

-2.3%

-2.3%

Vivendi Village

28

33

-14.4%

-13.5%

-5.4%

New Initiatives

17

27

-38.2%

-38.2%

+1.2%

Elimination of intersegment transactions

(22)

(17)

 

 

 

Total Vivendi

3,823

3,107

+23.0%

+27.3%

+6.8%

 

Income from operations

Universal Music Group

326

296

+10.6%

+15.4%

+15.4%

Canal+ Group

7

(136)

na

na

na

Havas

91

na

na

na

Gameloft

7

6

+8.2%

+82.0%

+82.0%

Vivendi Village

2

2

-22.7%

-22.7%

-32.0%

New Initiatives

(29)

(19)

Corporate

(29)

(26)

 

 

 

Total Vivendi

375

123

x 3.1

x 3.3

x 2.5

 

EBITA

Universal Music Group

319

291

+9.9%

+14.6%

+14.6%

Canal+ Group

(8)

(187)

na

na

na

Havas

77

na

na

na

Gameloft

4

5

na

+93.6%

+93.6%

Vivendi Village

1

na

na

-25.0%

New Initiatives

(33)

(21)

Corporate

(18)

(28)

 

 

 

Total Vivendi

342

60

x 5.8

x 6.2

x 4.8

na: not applicable.

a. Constant perimeter reflects the impacts of the sale of Radionomy
(August 17, 2017), which was integrated into Vivendi Village, and the
acquisition of Havas (July 3, 2017).

APPENDIX II

(Cont’d)

VIVENDI

REVENUES, INCOME FROM OPERATIONS AND EBITA

BY BUSINESS SEGMENT

(IFRS, audited)

Year ended December 31

 

Year ended December 31,

(in millions of euros)

2017

 

2016

 

% Change

 

% Change at
constant currency

 

% Change at
constant currency
and perimeter (a)

Revenues

Universal Music Group

5,673

5,267

+7.7%

+10.0%

+10.0%

Canal+ Group

5,246

5,253

-0.1%

+0.3%

+0.3%

Havas

1,151

na

na

na

Gameloft

258

132

na

na

-0.1%

Vivendi Village

109

111

-1.4%

+1.4%

+4.5%

New Initiatives

51

103

-50.5%

-50.5%

-24.0%

Elimination of intersegment transactions

(44)

(47)

 

 

 

Total Vivendi

12,444

10,819

+15.0%

+16.8%

+4.9%

 

Income from operations

Universal Music Group

798

687

+16.2%

+18.5%

+18.5%

Canal+ Group

367

303

+21.0%

+20.4%

+20.2%

Havas

135

na

na

na

Gameloft

10

10

na

na

+12.6%

Vivendi Village

(6)

(7)

New Initiatives

(87)

(44)

Corporate

(101)

(96)

 

 

 

Total Vivendi

1,116

853

+30.9%

+33.4%

+17.0%

 

EBITA

Universal Music Group

761

644

+18.3%

+20.6%

+20.6%

Canal+ Group

318

240

+32.1%

+31.3%

+31.1%

Havas

111

na

na

na

Gameloft

4

7

na

na

+12.5%

Vivendi Village

(18)

(9)

New Initiatives

(92)

(56)

Corporate

(97)

(102)

 

 

 

Total Vivendi

987

724

+36.4%

+39.1%

+23.1%

na: not applicable.

a. Constant perimeter reflects the impacts of the sale of Radionomy
(August 17, 2017), which was integrated into Vivendi Village, and the
acquisition of Havas (July 3, 2017), Paddington (June 30, 2016), which
has been integrated into Vivendi Village, Gameloft (June 29, 2016) and
the acquisition of Thema America (April 7, 2016) by Canal+ Group.

APPENDIX III

VIVENDI

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

(IFRS, audited)

(in millions of euros)

 

December 31, 2017

 

December 31, 2016

ASSETS

Goodwill

12,084

10,987

Non-current content assets

2,087

2,169

Other intangible assets

440

310

Property, plant and equipment

930

671

Investments in equity affiliates

4,540

4,416

Non-current financial assets

4,583

3,900

Deferred tax assets

619

752

Non-current assets

25,283

23,205

 

Inventories

177

123

Current tax receivables

406

536

Current content assets

1,160

1,054

Trade accounts receivable and other

5,218

2,273

Current financial assets

138

1,102

Cash and cash equivalents

1,951

4,072

Current assets

9,050

9,160

 

 

TOTAL ASSETS

34,333

32,365

 

EQUITY AND LIABILITIES

Share capital

7,128

7,079

Additional paid-in capital

4,341

4,238

Treasury shares

(670)

(473)

Retained earnings and other

6,857

8,539

Vivendi SA shareowners’ equity

17,656

19,383

Non-controlling interests

222

229

Total equity

17,878

19,612

 

Non-current provisions

1,515

1,785

Long-term borrowings and other financial liabilities

4,263

2,977

Deferred tax liabilities

589

726

Other non-current liabilities

226

126

Non-current liabilities

6,593

5,614

 

Current provisions

412

356

Short-term borrowings and other financial liabilities

373

1,104

Trade accounts payable and other

9,001

5,614

Current tax payables

76

65

Current liabilities

9,862

7,139

 

 

Total liabilities

16,455

12,753

 

 

TOTAL EQUITY AND LIABILITIES

34,333

32,365

APPENDIX IV

VIVENDI

CONSOLIDATED STATEMENT OF CASH FLOWS

(IFRS, audited)

 

Year ended December 31,

(in millions of euros)

2017

 

2016

Operating activities

EBIT

1,036

887

Adjustments

253

104

Content investments, net

(317)

(55)

Gross cash provided by operating activities before income tax
paid

972

936

Other changes in net working capital

247

(7)

Net cash provided by operating activities before income tax
paid

1,219

929

Income tax (paid)/received, net

471

(271)

Net cash provided by operating activities

1,690

658

 

Investing activities

Capital expenditures

(261)

(235)

Purchases of consolidated companies, after acquired cash

(3,481)

(553)

Investments in equity affiliates

(2)

(772)

Increase in financial assets

(202)

(2,759)

Investments

(3,946)

(4,319)

Proceeds from sales of property, plant, equipment and intangible
assets

2

2

Proceeds from sales of consolidated companies, after divested cash

(5)

3

Disposal of equity affiliates

1

Decrease in financial assets

981

1,967

Divestitures

978

1,973

Dividends received from equity affiliates

6

8

Dividends received from unconsolidated companies

23

25

Net cash provided by/(used for) investing activities

(2,939)

(2,313)

 

Financing activities

Net proceeds from issuance of common shares in connection with
Vivendi SA’s share-based compensation plans

152

81

Sales/(purchases) of Vivendi SA’s treasury shares

(203)

(1,623)

Distributions to Vivendi SA’s shareowners

(499)

(2,588)

Other transactions with shareowners

(10)

(3)

Dividends paid by consolidated companies to their non-controlling
interests

(40)

(34)

Transactions with shareowners

(600)

(4,167)

Setting up of long-term borrowings and increase in other long-term
financial liabilities

855

2,101

Principal payment on long-term borrowings and decrease in other
long-term financial liabilities

(8)

(16)

Principal payment on short-term borrowings

(1,024)

(557)

Other changes in short-term borrowings and other financial
liabilities

64

260

Interest paid, net

(53)

(40)

Other cash items related to financial activities

(61)

(77)

Transactions on borrowings and other financial liabilities

(227)

1,671

Net cash provided by/(used for) financing activities

(827)

(2,496)

 

Foreign currency translation adjustments of continuing operations

(45)

(2)

Change in cash and cash equivalents

(2,121)

(4,153)

 

Cash and cash equivalents

 

 

At beginning of the period

4,072

8,225

At end of the period

1,951

4,072

Nota: Vivendi made changes in the presentation of its
Consolidated Statement of Earnings as from January 1, 2017. Please refer
to Appendix VI for a detailed description of these changes in
presentation and the reconciliations to previously published financial
data.

APPENDIX V

VIVENDI

SELECTED KEY CONSOLIDATED FINANCIAL DATA FOR THE LAST FIVE YEARS

(IFRS, audited)

Vivendi made changes in the presentation of its Consolidated Statement
of Earnings as from January 1, 2017. Please refer to Appendix VI for a
detailed description of these changes in presentation and the
reconciliations to previously published financial data.

In addition, Vivendi changed the definition of its Financial Net Debt
(or Net Cash Position) during the fourth quarter of 2017. Please refer
to Appendix VI for a reconciliation to previously published financial
data.

Vivendi deconsolidated GVT, SFR, Maroc Telecom group and Activision
Blizzard as from May 28, 2015, November 27, 2014, May 14, 2014, and
October 11, 2013, respectively, i.e., the date of their effective sale
by Vivendi. In compliance with IFRS 5, these businesses have been
reported as discontinued operations for the relevant periods as set out
in the table of selected key consolidated financial data below in
respect of data reflected in the Statement of Earnings and Statement of
Cash Flows.

 

Year ended December 31,

 

 

2017

 

2016

2015

2014

2013

 

Consolidated data

 

Revenues

12,444

10,819

10,762

10,089

10,252

Income from operations (a)

1,116

853

1,061

1,108

1,131

Adjusted earnings before interest and income taxes (EBITA) (a)

987

724

942

999

955

Earnings before interest and income taxes (EBIT)

1,036

887

521

545

578

Earnings attributable to Vivendi SA shareowners

1,228

1,256

1,932

4,744

1,967

of which earnings from continuing operations attributable to Vivendi
SA shareowners

1,228

1,236

699

(290)

43

Adjusted net income (a)

1,312

755

697

626

454

Financial Net Debt / (Net Cash Position) (a)

2,340

(1,231)

(7,172)

(4,681)

11,094

Total equity

17,878

19,612

21,086

22,988

19,030

of which Vivendi SA shareowners’ equity

17,656

19,383

20,854

22,606

17,457

Cash flow from operations (CFFO) (a)

989

729

892

843

894

Cash flow from operations after interest and income tax paid (CFAIT)
(a)

1,346

341

(69)

421

503

Financial investments

(3,685)

(4,084)

(3,927)

(1,244)

(107)

Financial divestments

976

1,971

9,013

17,807

3,471

Dividends paid by Vivendi SA to its shareholders

499

2,588

(b)

2,727

(c)

1,348

(d)

1,325

Purchases/(sales) of Vivendi SA’s treasury shares

203

1,623

492

32

 

 

 

 

 

 

 

 

 

 

 

 

Per share data

 

Weighted average number of shares outstanding

1,252.7

1,272.6

1,361.5

1,345.8

1,330.6

Earnings attributable to Vivendi SA shareowners per share – basic

0.98

0.99

1.42

3.52

1.48

Adjusted net income per share

1.05

0.59

0.51

0.46

0.34

 

Number of shares outstanding at the end of the period (excluding
treasury shares)

1,256.7

1,259.5

1,342.3

1,351.6

1,339.6

Equity per share, attributable to Vivendi SA shareowners

14.05

15.39

15.54

16.73

13.03

 

Dividends per share paid

0.40

2.00

(b)

2.00

(c)

1.00

(d)

1.00

In millions of euros, number of shares in millions, data per share in
euros.

a. The non-GAAP measures of Income from operations, EBITA, Adjusted net
income, Financial Net Debt (or Net Cash Position), Cash flow from
operations (CFFO) and Cash flow from operations after interest and
income tax paid (CFAIT) should be considered in addition to, and not as
a substitute for, other GAAP measures of operating and financial
performance as presented in the Consolidated Financial Statements and
the related Notes, or as described in this Financial Report. Vivendi
considers these to be relevant indicators of the group’s operating and
financial performance. Each of these indicators is defined in the
appropriate section of this Financial Report. In addition, it should be
noted that other companies may have definitions and calculations for
these indicators that differ from those used by Vivendi, thereby
affecting comparability.

b. On April 21, 2016, Vivendi’s General Shareholders’ Meeting approved
the payment of an ordinary dividend of €3 per share with respect to
fiscal year 2015, i.e., an aggregate dividend payment of €3,951 million.
This amount included €2,588 million paid in 2016: of which,
€1,318 million for the second interim dividend of €1 per share, paid on
February 3, 2016, and €1,270 million representing the balance of €1 per
share, paid on April 28, 2016.

c. In 2015, Vivendi paid a dividend with respect to fiscal year 2014 (€1
per share, i.e., €1,363 million) and a first interim dividend with
respect to fiscal year 2015 (€1 per share, i.e., €1,364 million).

d. On June 30, 2014, Vivendi SA paid an ordinary dividend of €1 per
share to its shareholders from additional paid-in capital, treated as a
return of capital distribution to shareholders.

APPENDIX VI

VIVENDI

ADJUSTMENT OF COMPARATIVE INFORMATION

(IFRS, audited)

Changes in presentation of the Consolidated Statement of Earnings

To ensure the consistency of the presentation of Vivendi’s Consolidated
Statement of Earnings with the one prepared by Bolloré Group, which
decided to fully consolidate Vivendi into its Consolidated Financial
Statements as from April 26, 2017, Vivendi made the following changes in
presentation of its Consolidated Statement of Earnings as from January
1, 2017:

  • income from equity affiliates is reclassified to “Earnings Before
    Interest and Income Taxes” (EBIT), given that the companies over which
    Vivendi exercises a significant influence engage in operations that
    are similar in nature to the group’s operations. For the year ended
    December 31, 2016, this reclassification applies to a net income of
    €169 million (€81 million for the fourth quarter of 2016); and
  • the impacts related to financial investment operations, which were
    previously reported in “other operating charges and income” in EBIT,
    are reclassified to “other financial charges and income”. They include
    capital gains or losses on the divestiture or depreciation of equity
    affiliates and other financial investments. For the year ended
    December 31, 2016, the reclassification applies to a net income of
    €476 million (a net charge of €66 million for the fourth quarter of
    2016).

Moreover, the impacts of transactions with shareowners (except when
directly recognized in equity), in particular the €240 million reversal
of reserve recorded in 2016 relating to the Liberty Media litigation in
the United States, continue to be recorded in EBIT.

In accordance with IAS 1, Vivendi has applied these changes in
presentation to all periods previously published:

 

2016

 

(in millions of euros)

Three months
ended December 31,

 

 

Year ended
December 31,

 

Earnings before interest and income taxes (EBIT) (as previously
published)

(84)

1,194

Reclassification

+ Income from equity affiliates

+ 81

+ 169

– Other income

– 4

– 661

– Other charges

+ 70

+ 185

Earnings before interest and income taxes (EBIT) (new definition)

63

887

 

 

 

 

 

 

 

Year ended December 31,

(in millions of euros)

2015

2014

2013

Earnings before interest and income taxes (EBIT) (as previously
published)

1,231

736

637

Reclassification

+ Income from equity affiliates

– 10

– 18

– 21

– Other income

– 745

– 203

– 88

– Other charges

+ 45

+ 30

+ 50

Earnings before interest and income taxes (EBIT) (new definition)

521

545

578

APPENDIX VI

(Cont’d)

VIVENDI

ADJUSTMENT OF COMPARATIVE INFORMATION

(IFRS, audited)

Changes in definition of Financial Net Debt / (Net Cash Position)

To ensure the consistency of the definition of the Financial Net Debt
with Bolloré Group, which has fully consolidated Vivendi in its
Consolidated Financial Statements as from April 26, 2017, Vivendi
changed the definition of its Financial Net Debt (or Net Cash Position)
during the fourth quarter of 2017: the derivative financial instruments
(assets or liabilities) that are not borrowings hedging instruments, as
well as commitments to purchase non-controlling interests, are now
excluded from the Financial Net Debt (or Net Cash Position).

In accordance with IAS 1, Vivendi has applied these changes to all
periods previously published:

 

As of December 31,

(in millions of euros)

2016

 

2015

 

2014

 

2013

Financial Net Debt / (Net Cash Position)

As previously published

(1,068)

(6,422)

(4,637)

11,097

Other financial assets and liabilities:

Derivative financial instruments in assets

+62

+66

+64

+38

Derivative financial instruments in liabilities

-140

-523

-21

-19

Commitments to purchase non-controlling interests

-85

-293

-87

-22

New definition

(1,231)

(7,172)

(4,681)

11,094

County: Press Release Cannot Initiate Vasquez Investigation

Posted by on 11:01 pm in Press Release | 0 comments

A Feb. 14 press release by nine Democrat legislators representing Dona Ana County called on the Dona Ana County Board of Commissioners to launch a formal investigation into allegations of sexual harassment and violations of the county’s code of conduct by District 5 Commissioner John L. Vasquez.

Here is a statement issued by Dona Ana County:

   County Commission Chairman Benjamin L. Rawson immediately reviewed the press release with County Manager Fernando R. Macias and the county’s Legal Department to determine whether the requested investigation could be launched, and the county manager concluded that a press release itself does not constitute a formal complaint upon which action can be initiated.

   “While I appreciate the importance of the issue and the interest by our legislators in these matters, and while I agree that any allegation of sexual harassment is non-partisan, the Dona Ana County Code of Conduct is our baseline for reviewing formal complaints against elected officials and staff,” Rawson said. “At this time, the one formal complaint that has been received from Ms. Johana Bencomo remains under review. I initiated immediate action on it. The legislative delegation’s request for an investigation lacks any specific allegations to be investigated.”

   Rawson emphasized that the county’s process is separate and distinct from any ongoing investigations involving other entities, such as allegations related to the New Mexico Democratic Party chair, adding that the county is a separate entity and does not have any specific information on any allegations regarding other organizations.

   “If we all agree that sexual harassment is never acceptable and should never be tolerated,” he said, “then we must also agree that any entity, including the Democratic Party of New Mexico, that receives any such allegations has the responsibility to proceed according to that entity’s due-process policies and procedures, just as Dona Ana County has done.”