Vivendi sees Canal+, Havas 2024 revenue growth broadly stable

(Reuters) – French media group Vivendi on Monday announced guidance ahead of a market day for Canal+ and Havas, businesses it plans to spin off as part of the group’s project to split up.

Vivendi expects the two units to record full-year revenue growth broadly in line with that of 2023, with organic net revenue between -1% and 0% for Havas.

For Canal+, “the potential finalisation of the pending MultiChoice control acquisition would significantly impact the financial profile of the Group in the medium-term in Africa and overall, adding a revenue growth engine while providing potential significant cost synergies,” Vivendi said.

The group also said it would target a dividend payment of around 40% of Havas’ net income for 2024, while Canal+ would propose a 1.5% return at its 2025 shareholders’ meeting.

(Reporting by Alban Kacher; Editing by Mark Potter)