Vivendi reaffirmed that it was on target to achieve its forecasts of 10% revenue growth and 35% organic Ebitda growth in 2001.
Vivendi said Ebitda was up 90% to £930m against comparable results of Vivendi Universal, including Seagram and Canal+, last time.
The company said that only a very small proportion of its revenues were generated from advertising and theme parks, the areas most vulnerable to economic downturn. Advertising generates approximately 1% of Vivendi's revenues and theme parks generate under 3%.
Jean-Marie Messier, chairman and CEO of Vivendi Universal, said, "Having the highest resiliency and lowest sensitivity to a recessionary environment explains our ability to outperform most of our peers. Even so, Vivendi Universal's media and communications businesses are not immune to the effects to a recession."
He added, "But in challenging and uncertain environments, which can negatively impact businesses in all industries, Vivendi Universal offers within the media and communications industry both the highest potential for growth going forward and the best ability to resist a difficult economic environment."
Messier said Vivendi's media and communications businesses are presently less vulnerable to recessionary environments than many of its peers because of its strong defensive qualities, including its global presence -- 60% of its revenues are generated in Europe, 30% in North America and 10% in the rest of the world -- and the fact that over 44% of Vivendi's revenues are generated from subscriptions, which have proved to have a high resilience to recession.
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