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Consolidated
Financial Statements
| Statutory Auditors’ Report on the Financial Statements | Statutory Financial Statements
Note 3. Discontinued operations
3.5. Earnings from discontinued operations
In compliance with IFRS 5, the line “Earnings from discontinued operations” presented in Vivendi’s Consolidated Statement of Earnings includes the
operations of GVT (for the years 2014 and 2013), SFR (for the year 2013 and until the date of the sale on November 27, 2014), Maroc Telecom group (for
the year 2013 and until the date of the sale on May 14, 2014), and Activision Blizzard (until the date of the sale on October 11, 2013) as well as the capital
gain on completed divestiture with respect to discontinued operations.
(in million of euros)
2014 contributions
GVT
SFR
Maroc
Telecom
group
Other
Total
Revenues
1,765
8,981
969
-
11,715
EBITDA
702
2,129
530
-
3,361
Adjusted earnings before interest and income taxes (EBITA)
367
689
360
-
1,416
EBITA after discontinuation of amortization
(a)
478
1,732
531
-
2,741
Earnings before interest and income taxes (EBIT)
457
1,676
531
-
2,664
Earnings before provision for income taxes
393
1,487
527
-
2,407
Provision for income taxes
(89)
(188)
(120)
-
(397)
Earnings
304
1,299
407
-
2,010
Capital gain on completed divestiture
na
2,378
786
(b)
84
3,248
Other
(2)
-
-
6
4
Earnings from discontinued operations
302
3,677
1,193
90
5,262
of which attributable to Vivendi SA shareowners
302
3,663
979
90
5,034
non-controlling interests
-
14
214
-
228
(in millions of euros)
2013 contributions
GVT
SFR
Maroc
Telecom
group
Activision
Blizzard
Total
Revenues
1,709
10,199
2,559
2,328
16,795
EBITDA
707
2,766
1,453
989
5,915
Adjusted earnings before interest and income taxes (EBITA)
405
1,073
984
871
3,333
EBITA after discontinuation of amortization
(a)
405
1,073
1,215
895
3,588
Earnings before interest and income taxes (EBIT)
355
(c)
(1,427)
1,202
891
1,021
Earnings before provision for income taxes
121
(c)
(1,689)
1,169
846
447
Provision for income taxes
(32)
(315)
(473)
(154)
(974)
Earnings
89
(c)
(2,004)
696
692
(527)
Capital gain on completed divestiture
na
na
na
2,915
2,915
Gain in value of the remaining interest
na
na
na
245
245
Earnings from discontinued operations
89 (c) (2,004)
696
3,852
2,633
of which attributable to Vivendi SA shareowners
89
(c)
(2,010)
261
3,584
1,924
non-controlling interests
-
6
435
268
709
na: not applicable.
(a)
In compliance with IFRS 5, Vivendi discontinued the amortization of tangible and intangible assets of:
–– GVT as from September 1, 2014;
–– SFR as from April 1, 2014;
–– Maroc Telecom group as from July 1, 2013; and
–– Activision Blizzard as from July 1, 2013.
(b)
Includes the capital gain on the divestiture of 41.5 million Activision Blizzard shares, completed on May 22, 2014.
(c)
Includes the impairment of SFR’s goodwill for €2,431 million.
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