U.S. Markets closed

Vivendi confirms full-year outlook for Universal Music Group

The company said its full year outlook was confirmed for Universal Music Group, and slightly adjusted for Canal+ Group, SFR and GVT. The company said, "Due to a less favorable than anticipated advertising market in the first half, Canal+ Group slightly adjusted its 2013 EBITA outlook to around EUR 650M, excluding transition costs...For the full year, GVT now expects revenue growth in the mid 10’s at constant currency and an EBITDA margin above 40% while maintaining its EBITDA-Capex outlook close to breakeven...SFR slightly revised its 2013 EBITDA outlook as a result of the adverse decision of the European Court of Justice regarding the 'Copé tax' on electronic communications. EBITDA for 2013 is now expected to be around EUR 2.8B while its Capex outlook remains unchanged at around EUR 1.6B."