French media conglomerate Vivendi on Monday reported a surge in revenue for the first quarter, supported by by the consolidation of Lagardere as well as revenue growth at Canal+ Group and Havas.
The Group said: "The organic growth of 5.4% compared to the first quarter of 2023 was notably driven by the significant contribution of Lagardere, validating the relevance of the transaction with this group last November and our confidence in the potential of its activities. Canal+ Group and Havas also delivered solid performances."
Vivendi completed its takeover of publishing house Lagardere last November.
For the three-month period, the company recorded revenue of €4.275 billion, higher than €2.290 billion registered for the same period last year.
Revenue from Canal+ Group increased to €1.542 billion from last year's €1.478 billion, helped by a growth in subscriber base and average revenue per user or ARPU.
Havas generated revenue of €649 million, compared with €611 million in 2023, supported by acquisitions which contributed to an increase of 3.8% and included income from Uncommon, Eprofesionnal, Shortcut, and Ledger Bennett. Revenue from Lagardere was €1.883 billion.