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Friday, February 19, 2016
2.11 Earnings from discontinued operations
In compliance with IFRS 5, the line ”Earnings from discontinued operations” presented in Vivendi’s Consolidated Statement of Earnings
includes, until their respective sale dates, GVT (sold on May 28, 2015), SFR (sold on November 27, 2014), Maroc Telecom group (sold on
May 14, 2014), as well as the capital gains realized upon completion of the divestitures of these operations.
2015 year contributions
(in millions of euros) GVT Other Total
Revenues 738 - 738
EBITDA 292 - 292
Adjusted earnings before interest and income taxes (EBITA) 138 - 138
EBITA after discontinuation of amortization (a) 291 - 291
Earnings before interest and income taxes (EBIT) 289 - 289
Earnings before provision for income taxes 195 - 195
Provision for income taxes (16) - (16)
Earnings 179 - 179
Capital gain on the divestiture of GVT 1,818 - 1,818
Taxes paid in Brazil related to the divestiture of GVT (395) - (395)
Capital loss on the divestiture of Telefonica Brasil - (294) (294)
Other - (75) (b) (75)
Earnings from discontinued operations 1,602 (369) 1,233
Of which attributable to Vivendi SA shareowners 1,602 (369) 1,233
Of which non-controlling interests - - -
2014 year contributions
Maroc Telecom
GVT
SFR
(in millions of euros)
Group
Other
Total
Revenues 1,765 8,981 969 - 11,715
EBITDA 702 2,129 530 - 3,361
Adjusted earnings before interest and income taxes (EBITA) 367 689 360 - 1,416
EBITA after discontinuation of amortization (a) 478 1,732 531 - 2,741
Earnings before interest and income taxes (EBIT) 457 1,676 531 - 2,664
Earnings before provision for income taxes 393 1,487 527 - 2,407
Provision for income taxes (89) (188) (120) - (397)
Earnings 304 1,299 407 - 2,010
Capital gains on completed divestitures na 2,378 786 84 (c) 3,248
Other (2) - - 6 4
Earnings from discontinued operations 302 3,677 1,193 90 5,262
Of which attributable to Vivendi SA shareowners 302 3,663 979 90 5,034
Of which non-controlling interests - 14 214 - 228
na: not applicable.
a. In compliance with IFRS 5, Vivendi discontinued the amortization of tangible and intangible assets of GVT as from September 1, 2014,
SFR as from April 1, 2014 and Maroc Telecom group as from July 1, 2013.
b. Included the €69 million remaining impact related to the sale of an 80% interest in SFR to Numericable, notably the final sale price
adjustment.
c. Included the capital gain on the divestiture of 41.5 million Activision Blizzard shares on May 22, 2014.
Financial Report and Audited Consolidated Financial Statements for the year ended December 31, 2015 Vivendi /53