239
Annual Report -
2013
-
Vivendi
4
Financial Report | Statutory Auditors’ Report on the Consolidated Financial Statements |
Consolidated
Financial Statements
| Statutory Auditors’ Report on the Financial Statements | Statutory Financial Statements
Note 3. Segment data
Note 3.
Segment data
3.1.
Operating segment data
The Vivendi Group comprises several businesses that are leaders in the
worlds of content, media, and telecommunications. Each business offers
different products and services that are marketed through different
channels. Given the unique customer base, technology, marketing
and distribution requirements of each of these businesses, they are
managed separately and represent the base of the internal reporting of
the group. The Vivendi Group has the following four main businesses:
Canal+ Group:
publishing and distribution of premium and thematic
pay-TV channels as well as free-to-air channels in metropolitan
France, Poland, francophone Africa, French overseas territories
and Vietnam as well as cinema film production and distribution in
Europe;
Universal Music Group:
sale of recorded music, including that
of EMI Recorded Music since September 28, 2012, (physical and
digital media), exploitation of music publishing rights as well as
artist services and merchandising;
GVT:
a Brazilian fixed telecommunication and broadband Internet
operator as well as a Brazilian pay-TV provider; and
SFR:
a telecommunication operator (mobile, broadband Internet,
and fixed telecommunications) in France.
Vivendi Management evaluates the performance of these operating
segments and allocates necessary resources to them based on certain
operating indicators (segment earnings and cash flow from operations).
Segment earnings relate to the EBITA of each business segment.
Additionally, segment data is prepared according to the following
principles:
the operating segment
Other operations
includes operations
peripheral to the group, notably, See Tickets (a British ticketing
company), Digitick (the French leader in web ticketing), Wengo (the
French leader in expert advisory services by phone), and Watchever
(sale of digital content on the Internet, mainly in Germany);
the operating segment
Holding & Corporate
includes the cost
of Vivendi SA’s headquarters in Paris and of its New York City
office, after the allocation of a portion of these costs to each of the
businesses;
intersegment commercial relations are conducted on an arm’s
length basis on terms and conditions similar to those which would
be offered by third parties; and
the operating segments presented hereunder are strictly identical to
the information given to Vivendi’s Management Board.
In addition, Vivendi’s interests in Activision Blizzard and Maroc Telecom
Group, discontinued businesses as of December 31, 2013 (please
refer to Note 7), are no longer reported in segment data as a result
of the application of IFRS 5 –
Non-current Assets Held for Sale and
Discontinued Operations
:
the 2012 Consolidated Statement of Earnings and 2012 Consolidated
Statement of Cash Flows were adjusted to ensure consistency of
information; and
Maroc Telecom Group’s assets and liabilities were reclassified as
unallocated assets as of December 31, 2013.
Moreover, as of January 1, 2013, Vivendi applied, with retrospective
effect as from January 1, 2012, amended IAS 19 –
Employee Benefits
,
whose application is mandatory in the European Union beginning on or
after January 1, 2013 (please refer to Note 1).
For a detailed description of the adjustments made to the previously
published Financial Statements, please refer to Note 33.
As of December 31, 2013, Vivendi also presented data categorized
according to five geographic regions, consisting of its four main
geographic markets (France, Rest of Europe, United States, and Brazil),
as well as the rest of the world.
