November 15-30, 2003 Edition Vivendi Q3

Sales Decline

by One Third

PARIS/11/7/03—French media and telecom company Vivendi Universal, which is in the process of selling its Vivendi Entertainment division, reported a sales drop of nearly two-thirds in its third-quarter. Part of the decline came after the company sold its water utilities unit.

Sales fell 59 percent to 5.903 billion euros. Vivendi owns the world’s largest music company, France’s leading pay-television service, and the country’s second largest cellphone firm.

The soon-to-be-sold Vivendi Universal Entertainment, located in Hollywood, showed almost flat revenue.

Vivendi pointed out that it had strong growth in operating income and cash flow from operations.

Last year’s third-quarter sales totaled 14.551 billion euros, but that included units that have since been sold, one of which was Vivendi Universal Publishing.