PRESS RELEASE |
Financial information for the first quarter 2023 |
Revenue in the first quarter 2023:
-11% at constant scope and exchange rates (-10% on a reported basis)
Revenue in the first quarter 2023 At constant scope and exchange rates, Group’s revenue for the first quarter of 2023 was down by 11% at
On a reported basis, revenue is down 10% compared to revenue in the first quarter of 2022. Change in revenue by business |
(in millions of euros) | Q1 | ||||
2023 | 2022 (1) | 2022 (2) | Reported | Organic | |
growth | growth | ||||
Bolloré Logistics | 1,355 | 1,790 | 1,736 | -22% | -24% |
Bolloré Energy | 712 | 848 | 848 | -16% | -16% |
Communications (Vivendi) | 2,290 | 2,244 | 2,216 | +3% | +2% |
Industry | 74 | 111 | 112 | -34% | -33% |
Other (Agricultural Assets, Holding) | 2 | 8 | 1 | +106% | -74% |
Total | 4,432 | 5,001 | 4,912 | -10% | -11% |
(1) At constant scope and exchange rates
(2) In accordance with IFRS 5 and to ensure the comparability of results, reclassifications into discontinued operations or held for sale include:
- All of the Group’s Transport and Logistics activities in
Africa for 2022 (these activities were disposed of on 21 December 2022); Editis over the 2022 and 2023 fiscal years (given the proposed disposal ofEditis , this activity is considered to be held for sale).
At constant scope and exchange rates, compared to the first quarter of 2022, changes in the main sectors were as follows:
- Bolloré Logistics: revenue was
1,355 million euros , down 24% compared to the first quarter of 2022. This contraction is explained by the decline in freight forwarding volumes in both air and sea traffic, and by the decline in freight rates.
- Bolloré Energy: revenue amounted to
712 million euros , down 16%, due to the decline in sales volumes and the fall in oil product prices, which had risen sharply in the first quarter of 2022 due to the start of the war inUkraine .
- Communications (Vivendi): revenue amounted to
2,290 million euros , showing organic growth of 2% compared to the first quarter of 2022. Vivendi benefited from growth in all of Canal+ Group's businesses (+1%; in particularStudiocanal , driven by the success of several films), the good commercial momentum of Havas Group (+1%) and the confirmation of strong growth inGameloft's business (+14%) driven by the success of Disney’sDreamlight Valley game.
- Industry: revenue from industrial activities (Films, Blue and Systems) came to
74 million euros , compared with111 million euros in the first quarter of 2022, due to the decline in bus sales, despite the good performance of the Systems activities (IER/Automatic Systems andPolyconseil ).
Highlights and recentevents:
- Exclusive negotiations following receipt of an indicative offer from the
CMA CGM Group to acquire the transportation and logistics activities (Bolloré Logistics)
On
Following this offer, the Bolloré Group and the
Bolloré SE and
The transaction will remain in any event subject to regulatory approvals and no decision to sell will be taken until the end of the information and consultation procedures of the competent employee representative bodies.
- Simplified cash tender offer of Bolloré on its own shares
The Board of directors of Bolloré SE met on
This Offer will be implemented in accordance with the share buyback program authorized by the general meeting of Bolloré SE shareholders held on
The price of the Offer will be €5.75 per Bolloré SE share (2022 additional dividend included) plus a contingent €0.25 earn-out per Bolloré SE share tendered to the Offer to be paid if the
The information regarding the potential sale of Bolloré Logistics and the corresponding contingent earn-out was made available to the independent expert A2EF, represented by Mrs.
On the basis of, in particular, the favorable recommendation of the ad hoc committee3 and the independent expert’s determination that the Offer price is fair for both participant and non-participant shareholders, the members of the Board of directors of Bolloré SE issued a unanimous favorable opinion regarding the Offer and resolved to recommend to Bolloré SE shareholders that they take advantage of this partial liquidity opportunity.
Bolloré SE's draft tender offer document was filed on
- Put option agreement signed with IMI, a subsidiary of the holding company founded by Daniel Kretinsky, for the sale of 100% of
Editis
As part of the proposed combination between Vivendi and Lagardère and the remedies submitted to the
.
1 On the basis of a total number of 2,951,154,374 shares as at
2 See Bolloré SE press release of
3 Composed of Mrs.
Attachment
- 2023-04-24-Odet-CAT1-2023
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