Page 196 - 2012 Annual Report

196 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
EBITA
Holding & Corporate’s EBITA was -€115 million, compared to -€100 million
in 2011, due notably to higher litigation costs and several one-time items.
CASH FLOW FROM OPERATIONS (CFFO)
Holding & Corporate’s cash flow from operations amounted to -€94 million,
compared to -€84 million in 2011. The change in cash flow from operations
between 2011 and 2012 was mainly attributable to the change in EBITA.
4.2.8. Non-core operations and others
(in millions of euros)
Year ended December 31,
2012 2011
Non-core operations and others 65 41
Elimination of intersegment transactions (89) (82)
Total Revenues (24) (41)
EBITA (14) (22)
Cash flow from operations (CFFO) (9) (16)
REVENUES AND EBITA
Revenues from non-core operations amounted to €65 million, a €24 million
increase, following the 2012 contribution of Digitick (€11 million in 2012,
compared to €9 million in 2011), and of See Tickets (€33 million in 2012,
compared to €12 million in 2011) acquired on August 23, 2011.
EBITA from non-core operations amounted to -€14 million in 2012,
compared to -€22 million in 2011. This increase was mainly due to the
contribution of See Tickets (€11 million in 2012, compared to €4 million
in 2011).
CASH FLOW FROM OPERATIONS (CFFO)
Cash flow from operations from non-core operations amounted to
-€9 million, compared to -€16 million in 2011. This change was mainly
related to the change in EBITA.
4.2.7. Holding & Corporate
(in millions of euros)
Year ended December 31,
2012 2011
EBITA (115) (100)
Cash flow from operations (CFFO) (94) (84)