1owHYXa

Friday, February 19, 2016
(in millions of euros) 2015 2014
Assets
Trade accounts receivable and other 37 22
Of which Havas Group 1 1
Liabilities
Trade accounts payable and other 13 10
Of which Havas Group 3 3
Bolloré Group 3 -
Statement of earnings
Operating income 156 100
Of which Havas Group 3 2
Telecom Italia 7 -
Operating expenses (61) (72)
Of which Havas Group (25) (24)
Bolloré Group (9) (9)
Advertising transactions
Of which advertising sales realized via Havas' agencies 99 89
media costs realized via Havas' agencies (74) (62)
The following constitutes complementary information about certain related parties’ transactions. Certain Havas Group’s subsidiaries render
operating services to Vivendi and its subsidiaries on an arm’s-length basis. Regarding Canal+ Group:
as part of their advertising campaigns, customers of Havas Group entered into transactions with Canal+ Group through media
agencies for an aggregate amount of €95 million in 2015 (€89 million in 2014);
as part of the advertising campaigns developed for Canal+, Canalsat and Canalplay, Canal+ Group entered into transactions with
major media companies through Havas Group and its media agencies for €72 million in 2015 (€62 million in 2014);
media and production services, broadcasting rights and fees were completed by Havas Group and its subsidiaries for €13 million in
2015 (€9 million in 2014); and
Havas Group and its subsidiaries designed and developed advertising campaigns in favor of Canal+ Group for €11 million in 2015
(€13 million in 2014).
In addition, on October 8, 2015, Studiocanal and Quinta Communications entered into an agreement to sell video, TV and Video-on-demand
exploitation rights in France and in other French-speaking territories for 28 movies. The initial duration of this contract is five years. In 2015,
this contract represented a non-significant amount for Studiocanal.
Note 22
Contractual obligations and other commitments
Vivendi’s material contractual obligations and contingent assets and liabilities include:
contracts entered into, which relate to the group’s business operations, such as content commitments (please refer to Note 10.2),
contractual obligations and commercial commitments recorded in the Statement of Financial Position, including finance leases, offbalance
sheet operating leases and subleases and off-balance sheet commercial commitments, such as long-term service contracts
and purchase or investment commitments;
commitments related to the group’s consolidation scope contracted through acquisitions or divestitures such as share purchase or
sale commitments, contingent assets and liabilities subsequent to given or received commitments related to the divestiture or
acquisition of shares, commitments resulting from shareholders’ agreements and collateral and pledges granted to third parties over
Vivendi’s assets;
commitments related to the group’s financing: undrawn confirmed bank credit facilities as well as the management of interest rate,
foreign currency and liquidity risks (please refer to Note 19); and
contingent assets and liabilities related to litigation in which Vivendi and/or its subsidiaries are either plaintiff or defendant (please
refer to Note 23).
Financial Report and Audited Consolidated Financial Statements for the year ended December 31, 2015 Vivendi /90