Page 186 - 2012 Annual Report

186 VIVENDI l 2012 l Annual Report
FINANCIAL REPORT – CONSOLIDATED FINANCIAL STATEMENTS – STATUTORY AUDITORS’ REPORT ON THE
CONSOLIDATED FINANCIAL STATEMENTS – STATUTORY AUDITORS’ REPORT ON THE FINANCIAL STATEMENTS –
STATUTORY FINANCIAL STATEMENTS 4
4
I - 2012 FINANCIAL REPORT
SECTION 4 BUSINESS SEGMENT PERFORMANCE ANALYSIS
4.2.2. Universal Music Group (UMG)
(in millions of euros, except for margins)
Year ended December 31,
2012 2011 % Change
% Change at
constant rate
Physical sales 1,756 1,789 -1.8% -6.1%
Digital sales 1,365 1,105 +23.5% +16.8%
License and others 548 478 +14.6% +9.9%
Recorded music (a) 3,669 3,372 +8.8% +3.7%
Music publishing 661 638 +3.6% -1.0%
Merchandising and others 247 222 +11.3% +4.5%
Intercompany elimination (33) (35) na* na*
Total Revenues 4,544 4,197 +8.3% +3.1%
EBITDA (a) 674 623 +8.2% +5.0%
Recorded music (a) 318 304 +4.6% +3.9%
Music publishing 186 183 +1.6% -2.4%
Merchandising and others 21 20 +5.0% -5.8%
Total EBITA 525 507 +3.6% +1.2%
EBITA margin rate (%) 11.6% 12.1% -0.5 pt
Restructuring and integration costs (98) (67) -46.3%
EBITA excluding restructuring and integration costs 623 574 +8.5% +5.5%
Cash flow from operations (CFFO) 472 443 +6.5%
Recorded music revenues by geographical area
Europe 40% 41%
North America 37% 36%
Asia 16% 15%
Rest of the world 7% 8%
100% 100%
“UMG” recorded music: sales of physical and digital albums and DVDs, in millions of units (b)
Artist - Title 2012 Artist - Title 2011
Taylor Swift - Red 5.1 Lady Gaga - Born this way 5.9
Justin Bieber - Believe 2.9 Justin Bieber - Under The Mistletoe 2.8
Lana Del Rey - Born To Die 2.7 Rihanna - Loud 2.7
Rod Stewart - Merry Christmas, Baby 2.6 Rihanna - Talk That Talk 2.6
Rihanna - Unapologetic 2.3 Lil Wayne - Tha Carter IV 2.4
Maroon 5 - Overexposed 2.2 Amy Winehouse - Lioness: Hidden Treasures 2.4
Madonna - MDNA 1.8 Drake - Take Care 1.9
Gotye - Making Mirrors 1.7 Kanye West & Jay Z - Watch The Throne 1.7
Lionel Richie - Tuskegee 1.5 Amy Winehouse - Back to Black 1.7
Nicki Minaj - Pink Friday... Roman Reloaded 1.4 LMFAO - Sorry for Party Rocking 1.7
TOTAL 24.2 TOTAL 25.8
na*: not applicable.
(a) Includes EMI Recorded Music (retained businesses) revenues and EBITA consolidated since September 28, 2012, for €279 million (of which €148 million
for physical sales and €79 million for digital sales) and -€2 million, respectively.
(b) At constant perimeter.