NBC Deal Drains Vivendi Revenue in 3Q
11.09.2004, 07:54 AM

Vivendi Universal SA said revenue fell 20 percent in the third quarter largely because of the sale of its entertainment assets to General Electric Co.'s NBC.

The French media and telecommunications group posted revenue of euro4.70 billion (US$6.08 billion) for July-September, down from euro5.90 billion in the year-earlier quarter.

Excluding the assets sold off in the deal with GE to form NBC Universal and other disposals, however, Vivendi said its revenue would have risen 6 percent.

Vivendi's sale of its U.S. entertainment businesses late last year came as part of chief executive Jean-Rene Fourtou's drive to restore the French group's battered fortunes after its 2002 brush with bankruptcy.

Since taking the helm, Fourtou has presided over a string of asset sales to reducing Vivendi's towering debt and improved profitability through cost-cutting and strong telecommunications income growth.

Third-quarter revenue was buoyed by the SFR-Cegetel and Maroc Telecom telecommunications businesses - where revenue jumped 13 percent to euro2.63 billion (US$3.40 billion) - and the Universal Music Group, where revenue rose 4 percent.

Canal Plus, Vivendi's pay-TV unit, saw its revenue in the third quarter slip 12 percent to euro850 million (US$1.10 billion), mainly because of asset disposal, while revenue at the struggling video games division fell 18 percent to euro63 million (US$81 million).

Vivendi Universal is scheduled to publish full third-quarter earnings figures on November 17.

Shares in the group were 0.6 percent higher at euro22.20 (US$28.68) in early afternoon Paris trading.

www.forbes.com . . .

Veolia Revenues Decline Amid Asset Selloff
11.04.2004, 11:59 AM

Veolia Environnement SA, the water utility that was once at the heart of Vivendi Universal SA, said Thursday that revenue, operating earnings and debt all declined in the third quarter as the company pursued its program of asset disposals.

Like many French companies, Veolia does not release net income figures for the first and third quarters.

www.forbes.com . . .

I wish I could find it now, but this guy spun off the most profitable part of the company, the water division. Now Veolia Environnement SA has been selling off the assets that were vivendi's water division. I'll try to find it but I think the American company that has been purchasing most of the assets is Air Products in philly. Their stock has doubled, meanwhile vivendi just keeps losing.

Dumb frogs, the water division held public water departments that cities privatized to save money, and water purification systems and other money making shit, they thought they would take over american entertainment and make more money that way. Meanwhile they are losing money and American companies who bought the water assets are making a fortune with them.

K+ Ole buddy.

sorry not air products, philidelphia suburban

Vivendi Environnement (Paris Euronext: VIE ; NYSE: VE) announced today the pricing of a secondary offering of 8,595,875 shares of common stock of Philadelphia Suburban Corporation (NYSE: PSC) at $18.25 per share. Most of the PSC shares are held by Vivendi Environnement's water division, Vivendi Water.

www.veoliaenvironnement-finance.com . . .

thats from sept.23 2002

they since changed their name to Aqua America and the share price is up to $23.90 but they have issued 1.9 million more shares on nov. 11 otherwise it would be higher, and probably otherwise. Oh wait, , there was a stock split on Dec. 2 2003. 5-for-4 common stock split and at least one other stock offering.

Great french businessmen, sell off the profitable part of the business, then destroy the entertainment part and sell it at a loss while your stockholders take a beating and the American stock holders make a nice profit.

Thats a 44% return on the water division vivendi sold off to pursue its forutune in the entertainment biz just to lose money. Good job froggy, just made us dumb yanks a 44% return.