PARIS (Reuters) – The leaders of Vivendi called for patience on Monday after the split of the group, which led to the rating of its former entities, on the occasion of the group’s general assembly in Paris.

Vivendi acted in early December the rating of its entities on various stock markets, including that of the audiovisual group Canal+, its flagship asset, on the London Stock Exchange, and that of its Havas advertising agency, its second largest entity, on the Amsterdam Stock Exchange.

“We are well aware that the sum of stock market values [des entités scindées] It is not yet up to what we all hoped, “said Yannick Bolloré, Chairman of the Holder Supervisory Board.

“It takes time” to “make yourself known” and “reassure the markets,” he added.

Since their IPO in December, Canal+ and Havas shares have accused a loss of almost 23% and 20%, respectively.

Arnaud de Puyfontaine, the chairman of the executive board, said he was convinced that the split operation was done in the interest of split companies and all shareholders.

“The fundamentals are there and they make it possible to ultimately consider a level of value creation up to our expectations” for split companies, he assured.

Vivendi reported on Monday re -evaluated net assets of 5.2 billion euros on March 31, 2025, four months after its split and up 7.8% compared to the end of December.

The holding company announced a stable turnover in the first quarter with an increase of 0.3% at constant exchange rate and perimeter at 69.4 million euros.

Vivendi also displayed a significant drop in its net financial debt in the first quarter of 2025, to 1.66 billion euros on March 31, 2025 against 2.07 billion on December 31, 2024.

Around 8:45 a.m. GMT, the Vivendi action in Paris took 1.88% at the Paris Stock Exchange, while Canal+ advanced 1.86% in London and Havas by 2.25% in Amsterdam.

(Report Florence Lève; written by Claude Chendjou and Bertrand Boucey, edited by Kate Entringer)

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