1 adjusted for the share of earnings of universal music group and lagardère accounted for under the equity method arnaud de puyfontaine chief executive officer of vivendi commented our group achieved very good operating performances in the first half of the year with an acceleration of our growth 42 during the second quarter these results demonstrate the strong resilience of our businesses and our ability to reinvent ourselves in the face of changes in our environment all canal group activities contributed to revenue growth while maintaining stable profitability havass healthyou and media divisions in particular excelled for prisma media the price of paper stabilized at a level that remained high in the first half of 2023 following a sharp increase in 2022 at the same time the group demonstrated strong development momentum gameloft demonstrates the full relevance of the strategic transformation of its business by also targeting the pc and console markets at vivendi village ticketing activities are experiencing strong growth while music festivals have repositioned themselves well there has also been a transformation at dailymotion which has radically revised its positioning by prioritizing video and a young audience on the strength of these results we are continuing the year 2023 with confidence and vigilance yannick bolloré chairman of the supervisory board of vivendi added vivendi is steadfastly pursuing its internationalization strategy and strengthening its position as a leading global player in culture and entertainment we are entering the final phase of the combination process with the lagardère group which will give us a whole new dimension canal group with its investment in the viu streaming platform in asia and its equity interest in multichoice group in africa is also contributing to the achievement of this strategic objective as are the many targeted acquisitions made by havas during this first half of the year a new corporate culture is emerging within vivendi with the enhancement of the diversity of our talents the richness of creation in all its forms and the ability of our various businesses to work closely together the financial situation of our group and our longterm shareholder structure allow us to continue to implement our strategic plan and to calmly consider our future this press release contains unaudited condensed financial figures established under ifrs which were approved by vivendis management board on july 24 2023 reviewed by the vivendi audit committee on july 24 2023 and by vivendis supervisory board on july 27 2023 for the first half of 2023 vivendis revenues were eur4698 million an increase of 37 32 at constant currency and perimeter mainly due to revenue growth at canal group eur86 million and havas eur61 million as well as the performance of gameloft eur19 million after a 33 increase for the first quarter of 2023 vivendis revenues for the second quarter of 2023 were up 42 43 at constant currency and perimeter compared to the second quarter of 2022 to eur2408 million ebita was eur444 million an increase of 77 83 at constant currency and perimeter it included vivendis share of the net earnings of universal music group umg for eur39 million and lagardère for eur26 million eur20 million for the first half of 2022 excluding vivendis share of umg and lagardères net earnings ebita was eur379 million an increase of 35 25 at constant currency and perimeter notably due to the growth of havas and vivendi village income from equity affiliates  nonoperational related to multichoice group eur60 million for the first half of 2022 this amount corresponded to vivendis share of telecom italias net earnings eur235 million as a reminder vivendi ceased to account for its interest in telecom italia under the equity method as of december 31 2022 income from investments was eur67 million compared to eur40 million for the first half of 2022 for the first half of 2023 it mainly included dividends from fl entertainment for eur29 million mediaforeurope for eur28 million unchanged compared to the first half of 2022 and telefonica for eur9 million unchanged compared to the first half of 2022 other financial charges and income were a net charge of eur56 million compared to a net income of eur488 million for the first half of 2022 which included the capital gain of eur526 million realized on june 30 2022 following the contribution of vivendis interest in banijay group holding to fl entertainment prior to the public listing of the latter on july 1 2022 as a reminder in accordance with ifrs 5 given the plan to sell editis editiss contribution to the groups activities was reported in earnings from discontinued operations for the first half of 2023 earnings from discontinued operations amounted to a loss of eur33 million which included the following items editiss contribution to net earnings eur14 million in accordance with ifrs 5 the discontinuation of amortization of editiss noncurrent assets eur32 million and the loss on the deconsolidation of editis eur51 million reflecting the terms of the put option agreement entered into with international media invest as imi on april 23 2023 adjusted net income was a profit of eur324 million or eur032 per share  basic compared to eur58 million for the first half of 2022 or eur006 per share  basic an increase of eur266 million for the first half of 2022 it notably included vivendis share of the net earnings of telecom italia eur205 million accounted for under the equity method nonoperational as a reminder vivendi ceased to account for its interest in telecom italia under the equity method as of december 31 2022 for the first half of 2023 earnings attributable to vivendi se shareowners amounted to a profit of eur174 million or eur017 per share  basic compared to a profit of eur491 million for the first half of 2022 eur047 per share  basic for the first half of 2022 they notably included the positive impact due to the contribution of the interest in banijay group holding to fl entertainment eur526 million vivendis cash position changed from financial net debt of eur860 million as of december 31 2022 to financial net debt of eur1497 million as of june 30 2023 due to investments eur349 million and the distribution of the dividend eur256 million in addition vivendi has significant financing capacity as of june 30 2023 eur28 billion of the groups committed credit facilities were available on july 4 2023 moodys confirmed vivendis baa2 rating and raised its outlook to stable on june 9 2023 vivendi announced that it had obtained approval from the european commission regarding its proposed transaction with the lagardère group this approval is contingent upon the completion of vivendis two proposed commitments ie the sale of 100 of the share capital of editis and the full sale of the gala magazine on june 16 2023 vivendi entered into an agreement for the sale of editis to international media invest as imi a subsidiary of the cmi group founded by daniel kretinsky after having entered into a put option agreement on april 23 2023 the signing of this sale agreement was subsequent to the receipt of an opinion of each of the employee representative bodies of vivendi and editis the european commission will have to approve imi as a suitable purchaser the transaction also remains subject to imi obtaining the required merger control clearances in the relevant jurisdictions on july 26 2023 prisma media entered into a put option for the sale of gala magazine to the figaro group this agreement is subject to the information and consultation procedures involving the relevant employee representative bodies and groupe figaro needs to be approved as a suitable purchaser by the european commission on july 4 2023 vivendi announced that it had received several offers for the purchase of gala after examining these offers it was decided to enter into exclusive negotiations with the figaro group the group is confident that it can complete these transactions by october 2023 on april 25 2023 the ordinary cash dividend of eur025 per share paid in respect of fiscal year 2022 was detached payable from april 27 2023 which corresponds to a total amount distributed of eur256 million in addition in the first half of 2023 share buybacks totaled eur29 million ie 3 million shares allocated for employee shareholding transactions after the cancellation of 786 million shares in 2023 vivendi currently directly holds 53 million of its own shares ie 051 of its share capital for the first half of 2023 canal groups revenues were eur2959 million up 30 compared to the first half of 2022 23 at constant currency and perimeter all of the groups businesses drove this growth revenues from television operations in mainland france increased by 17 at constant currency and perimeter compared to the first half of 2022 revenues from international operations increased by 22 12 at constant currency and perimeter driven mainly by growth in the subscriber base studiocanals revenues increased significantly by 217 160 at constant currency and perimeter thanks to highly successful theatrical releases both in france more than 4 million admissions for alibicom 2 and 12 million admissions for all your faces and internationally close to aud 25 million accumulated at the boxoffice for john wick 4 in australia and nearly nz 38 million in new zealand gbp 55 million for evil dead rise at the boxoffice in the united kingdom for the first half of 2023 canal groups profitability remained stable compared to the first half of 2022 with ebita of eur337 million a slight decrease of 15 at constant currency and perimeter during the first half of 2023 canal group continued its development both in france and abroad in addition canal group has increased its ownership interest in multichoice group and holds 326 of its share capital as of june 30 2023 havas organic growth of 63 in the second quarter of 2023 after a solid first quarter of 2023 with organic growth in net revenues3 of 19 havass organic growth in net revenues accelerated to 63 in the second quarter of 2023 driven by the strong commercial momentum across the healthyou health communication and media divisions despite a tough comparison basis of 115 in the second quarter of 2022 acquisitions contributed 07 and currency effects had a negative impact of 15 net revenues were eur677 million for the second quarter of 2023 all geographical regions posted solid organic performances with growth of 34 in europe 55 in north america and 76 in asiapacific latin america continued its strong growth trajectory with a 304 increase compared to the second quarter of 2022 after recording an increase of 273 for the first quarter of 2023 in recent months havas also accelerated the deployment of business solutions with the launch of havas play in 14 countries the international deployment of csa and the creation of the global content production network prose on pixels after setting a record in 2022 havas is continuing its sustained pace of acquisitions having already acquired four new agencies since the beginning of 2023 in particular the group continues to strengthen its digital expertise and geographical positions in canada with noise germany with hrzn and india with pivot roots havas also entered into a strategic partnership with trinity life sciences 3 net revenues a nongaap measure relates to havass revenues less passthrough costs chargeable to customers finally on july 13 2023 havas announced the acquisition of a majority interest in uncommon the united kingdoms most awarded independent creative studio this transaction reflects havass entrepreneurial approach further strengthens its presence in the united kingdom and provides an important opportunity to expand its creative network in the united states on june 13 2023 havas revealed a new brand identity in line with the acceleration of its strategy rooted in the integration of its various expertise in entertainment and communications this new brand identity amplifies the true nature of havas a clientcentric creative powerhouse that is part of the vivendi group at cannes lions the global festival of creativity held in june 2023 havas distinguished itself by winning 19 awards several campaigns created by havas agencies around the world won awards including vanish reckitt and the campaign for the anne de gaulle foundation at roissy airport which received 6 lions including the grand prix for good see appendix iv for the first half of 2023 havass revenues were eur1318 million up 49 compared to the first half of 2022 42 at constant currency and perimeter after deducting passthrough costs rechargeable to customers net revenues amounted to eur1265 million an increase of 49 and 42 at constant currency and perimeter ebita was eur118 million for the first half of 2023 an increase of 63 at constant currency and perimeter compared to the first half of 2022 thanks to solid organic growth and a constantly optimized cost base for the first half of 2023 prisma medias revenues were eur153 million down 68 due to an unfavorable comparison with the same period in 2022 which included nonrecurring items prisma medias magazine advertising revenues were up 7 notably bolstered by the launch of harpers bazaar digital affiliation ecommerce and advertising revenues on social media grew by more than 50 in june 2023 prisma media launched two new magazines les clés de mon energie focused on personal development and mortelle adèle le mag a magazine aimed at children aged 812 on july 18 2023 prisma media finalized the acquisition of a majority interest in milk a publisher of highend decoration and fashion magazines following the successful launch of harpers bazaar in early 2023 this transaction allows prisma media to expand its luxury division on july 26 2023 vivendi and prisma media announced that they had entered into exclusive negotiations with the m6 group for the acquisition of the assets of the m6 digital services division this division includes six portals that attract nearly 18 million unique visitors each month on everyday topics cooking cuisineazcom health passeportsanténet wellbeing fourchette  bikini decoration décofr automotive turbofr and weather m6meteo it also offers several paid programs notably in nutritional advice croqkilos and sports croqbody coaching at the end of may 2023 prisma media brands retained their leading positions in terms of unique digital audiences télé loisirs is no 1 in the entertainment segment capital is no 2 in the economic segment and femme actuelle remains no 1 in the womens segment for the first half of 2023 prisma medias ebita was eur17 million a decrease of eur4 million compared to the same period in 2022 ebita is still impacted by the increase in raw material costs in particular higher paper prices for the first half of 2023 gamelofts revenues were eur139 million up 158 compared to the same period in 2022 155 at constant currency and perimeter this solid growth in a declining videogames market continues to be driven by the success of gamelofts strategic shift towards pcconsole games which represented 37 of gamelofts revenues for the first half of 2023 disney speedstorm the latest crossplatform and pcconsolefirst game from gameloft was released on april 18 2023 while disney dreamlight valley continues to perform well on the gaas game as a service model mobile revenues represented 57 of gamelofts revenues for the first half of 2023 disney dreamlight valley asphalt 9 legends disney magic kingdoms march of empires and dragon mania legends games represented 56 of gamelofts total revenues and were the five best sellers in the first half of 2023 for the first half of 2023 gamelofts ebita was eur12 million a eur4 million increase compared to the same period in 2022 for the first half of 2023 vivendi villages revenues were eur81 million up 65 compared to the same period in 2022 102 at constant currency and perimeter the business is mainly driven by ticketing see tickets which represents 70 of overall revenues and is experiencing strong growth due in particular to the expansion of its customer base to new market segments beyond its traditional activities in the field of music as of june 30 2023 a total of 19 million tickets were sold compared to 15 million in the same period in 2022 the first summer festivals produced by vivendi village in france and great britain attracted a large number of attendees the olympia continues to offer an extremely active program lineup with 151 shows in the first half of the year in the first half of 2023 vivendi village returned to positive ebita of eur7 million compared to a loss of eur3 million in the first half of 2022 thanks to the strong growth of see tickets the cessation of its concert production activities and the repositioning of its festivals for the first half of 2023 new initiatives which brings together dailymotion and the gva entities recorded revenues of eur66 million an increase of 229 at constant currency and perimeter compared to the first half of 2022 for the first half of 2023 new initiativess ebita was a loss of eur22 million stable compared to the first half of 2022 gva provides very highspeed internet access in africa thanks to its ftth fiber to the home networks already established in twelve metropolises and seven countries in subsaharan africa burkina faso ivory coast congobrazzaville democratic republic of congo gabon rwanda and togo the very high speed internet access offers are aimed at the residential and professional markets under the canalbox brand in the first half of 2023 canalbox covered more than 23 million eligible households and businesses in the first half of 2023 dailymotions audience grew in all regions with an average organic growth rate of 52 compared to the same period last year audience growth was boosted by the signing of new partnerships notably with lou media moneybounce wagmi gentsu and nowu in france prisa in spain cnbc arabia fortune media blavity and sevn worldwide in the united states and cronista and jovem pan in latin america in may dailymotion unveiled a new product positioning strategy optimized to reach a larger audience especially among the younger generations dailymotions mission is to bring more nuance to everyday debates leveraging an algorithm that encourages users to engage in discussions in a different way and to listen to each other with more empathy three hundred fifty creators including fabien olicard romain lanéry jojol yann tout court athéna sol and sarah piot have already signed up to be part of the initiative covering a wide range of verticals sport culture music gaming cooking health and more for additional information please refer to the financial report and unaudited condensed financial statements for the firsthalf year ended june 30 2023 to be released later on vivendis website wwwvivendicom since 2014 vivendi has been building a worldclass content media and communications group the group owns leading highly complementary assets in television and movies canal group communications havas magazines prisma media video games gameloft and live entertainment and ticketing vivendi village it also owns a global digital content distribution platform dailymotion the combination with lagardère subject to the fulfilment of the commitments that vivendi has proposed to the european commission will enable the group to become the worlds thirdlargest consumer and educational publishing group vivendis various businesses cohesively work together as an integrated industrial group to create greater value vivendi is committed to the environment and aims to help mitigate climate change by adopting an approach aligned with the 2015 paris agreements in addition the group is helping to build more open inclusive and responsible societies by supporting diverse and inventive creative works promoting broader access to culture education and its businesses and increasing awareness of 21st century challenges and opportunities wwwvivendicom cautionary note regarding forwardlooking statements this press release contains forwardlooking statements with respect to vivendis financial condition results of operations business strategy plans and outlook including the impact of certain transactions and the payment of dividends and distributions as well as share repurchases although vivendi believes that such forwardlooking statements are based on reasonable assumptions such statements are not guarantees of future performance actual results may differ materially from the forwardlooking statements as a result of a number of risks and uncertainties many of which are outside our control including but not limited to the risks related to antitrust and other regulatory approvals as well as any other approvals which may be required in connection with certain transactions and the risks described in the documents of the group filed by vivendi with the autorité des marchés financiers the french securities regulator which are also available in english on vivendis website wwwvivendicom investors and security holders may obtain a free copy of documents filed by vivendi with the autorité des marchés financiers at wwwamffranceorg or directly from vivendi accordingly we caution readers against relying on such forwardlooking statements these forwardlooking statements are made as of the date of this press release vivendi disclaims any intention or obligation to provide update or revise any forwardlooking statements whether as a result of new information future events or otherwise unsponsored adrs vivendi does not sponsor an american depositary receipt adr facility in respect of its shares any adr facility currently in existence is unsponsored and has no ties whatsoever to vivendi vivendi disclaims any liability in respect of any such facility member of the management board and chief financial officer the conference will be held in english internet the conference can be followed on the internet at wwwvivendicom audiocast in millions of euros except per share amounts as a reminder given vivendis plan to sell editis and in accordance with ifrs 5  noncurrent assets held for sale and discontinued operations editis was presented in vivendis consolidated statement of earnings as a discontinued operation in practice income and charges from editis have been reported as follows the adjustments to published data for the halfyear ended june 30 2022 are reported in note 23 to the condensed financial statements for the halfyear ended june 30 2023 in the financial report for the halfyear 2023 the nongaap measures of adjusted earnings before interest and income taxes ebita and adjusted net income should be considered in addition to and not as a substitute for other gaap measures of operating and financial performance vivendi considers these to be relevant indicators of the groups operating and financial performance vivendi management uses ebita and adjusted net income for reporting management and planning purposes because they exclude most nonrecurring and nonoperating items from the measurement of the business segments performances for any additional information please refer to the financial report for the halfyear 2023 which will be released online later on vivendis website wwwvivendicom reconciliation of earnings attributable to vivendi se shareowners to adjusted net income havas won 121 awards up from 104 in 2022 including 2 grand prix at 4 of the biggest creative festivals