Reinvention is part of our DNA. Following the sale of Bolloré Africa Logistics to the MSC group in 2022, in February 2024 we sold the international freight forwarding and logistics business (Bolloré Logistics) to CMA CGM. Vivendi completed its merger with Lagardère, a global publisher and travel retailer, in November 2023.
A plan to split the company into four entities, each of which would be listed on the stock exchange, is currently under review. These different transactions reflect the Bolloré Group’s agility and its ability to seize new opportunities.

From an operational perspective, all Group activities posted strong results in 2023 with EBITA⁽¹⁾ of 994 million euros, down 6% at constant scope and exchange rates, impacted by the slowdown in oil logistics and the fall in UMG’s contribution.

Bolloré Energy’s adjusted operating income (EBITA)⁽²⁾ was 44 million euros, compared with 141 million euros in 2022, which was a year of exceptional results driven by the outbreak of the war in Ukraine. 2023 was impacted by falling prices and falling volumes of petroleum products, as well as negative impacts on inventories.

The results of the Communications segment, consisting of the activities of Vivendi, UMG and Lagardère⁽³⁾, increased by 4% to 1,102 million euros, thanks to strong showings by Vivendi (Havas, Groupe Canal+ and an increased contribution from Lagardère, equity-accounted for eleven months in 2023), despite the fall in the contribution
made by UMG (negative impact of the introduction of the share-based compensation plan).

Lastly, the results of the Industry sector (Blue, Films and Systems) increased by 11 million euros compared with 2022, thanks to the improved profitability of Packaging and Dielectric films, and the results of the Systems business, driven by specialized terminals and Polyconseil.

Net income came out at 566 million euros in 2023. This figure is hard to compare with that of 2022 (2,724 million euros), which included the disposal of Bolloré Africa Logistics (3,150 million euros). Vivendi 2022 results had been impacted by the deconsolidation of Telecom Italia (–1,494 million euros) and the capital gain arising on the contribution of the stake in Banijay Group Holding to FL Entertainment (515 million euros).

After the sale of Bolloré Africa Logistics to the MSC group in 2022 and the sale of Bolloré Logistics to CMA CGM in early 2024, the Bolloré Group (excluding Vivendi) has a positive net cash position of more than 6 billion euros and strong liquidity (12 billion euros in cash and lines confirmed for Bolloré). This financial strength will allow the Bolloré Group, which celebrated its two hundredth anniversary last year, to continue on its path by investing calmly in its various business lines, and perhaps tomorrow in new sectors

(1) Of which contributions from operations consolidated by the equity method at Vivendi (UMG [94 million euros] and Lagardère [125 million
euros]): +219 million euros and a contribution from operations consolidated by the equity method of UMG at Bolloré: +169 million euros.
(2) Before corporate costs and Bolloré’s trademark fees.
(3) Since September 23, 2021, UMG has been accounted for as an operating company using the equity method. Lagardère was accounted for
as an operating company using the equity method from July 1, 2021 to November 30, 2023 and has been fully consolidated since December 1, 2023.