2013 Annual report - page 172

172 Annual Report - 2013 - Vivendi
Nota :
In accordance with European Commission Regulation (EC) 809/2004 (Article 28) which sets out the disclosure obligations for issuers of securities listed on a regulated market within the
European Union (implementing Directive 2003/71/EC, the “Prospectus Regulation”), the following items are incorporated by reference:
2012 Financial Report and the Consolidated Financial Statements for the year ended December 31, 2012, prepared under IFRS and the related Statutory Auditors’ Report presented
in pages 168 to 319 of the “Document de Référence” No. D.13-0170, filed on March 18, 2013 with the French Autorité des marchés financiers (AMF), and in pages 168 to 319 of the
English translation of this “Document de Référence”; and
2011 Financial Report and the Consolidated Financial Statements for the year ended December 31, 2011, prepared under IFRS and the related Statutory Auditors’ Report presented in
pages 130 to 266 of the “Document de Référence” No. D.12-0175, filed on March 19, 2012 with the French Autorité des marchés financiers (AMF), and in pages 128 to 264 of the English
translation of this “Document de Référence”.
Selected key consolidated
financial data 174
I - 2013 Financial Report 175
SECTION 1 Significant events 175
1.1. Significant events in 2013 175
1.2. Significant events since December 31, 2013 178
SECTION 2 Earnings analysis 179
2.1. Consolidated Statement of Earnings
and Adjusted Statement of Earnings 180
2.2. Earnings review 181
SECTION 3 Cash flow from operations
analysis 184
SECTION 4 Business segment
performance analysis 186
4.1. Revenues, EBITA, and cash flow from operations
by business segment 187
4.2. Comments on the operating performance of business
segments 188
SECTION 5 Treasury and capital resources 197
5.1. Summary of Vivendi’s exposure to credit
and liquidity risks 197
5.2. Financial Net Debt changes 199
5.3. Analysis of Financial Net Debt changes 201
5.4. Changes in financings 203
SECTION 6 Forward looking statements 203
SECTION 7 Other Disclaimers 203
II - Appendices to the
Financial Report: unaudited
supplementary financial data 204
1. EBITA (Adjusted Earnings Before Interest
and Income Taxes)
and adjusted net income 204
2. Revenues and EBITA by business segment –
2013 and 2012 quarterly data 206
III - Consolidated Financial
Statements for the year ended
December 31, 2013 208
Statutory Auditors’ Report on the Consolidated Financial
Statements 208
Consolidated Statement of Earnings 210
Consolidated Statement of Comprehensive Income 211
Consolidated Statement of Financial Position 212
Consolidated Statement of Cash Flows 214
Consolidated Statements of Changes in Equity 216
Notes to the Consolidated Financial Statements 218
IV - Vivendi SA - 2013 Statutory
Financial Statements 326
1. Statutory Auditors’ Report on the Financial Statements 327
2. 2013 Statutory Financial Statements 329
3. Notes to the 2013 Statutory Financial Statements 333
4. Subsidiaries and Affiliates 364
5. Maturity of Trade Accounts Payable 365
6. Financial Results of the Last Five Years 366
7. Statutory Auditors’ Report on Related Party
Agreements and Commitments 367