Vivendi Reports Mixed First-Half Results Amid Strategic Realignment

The media group’s adjusted EBITA fell to EUR4 million from EUR18 million in the first half of 2025. However, excluding the costs of a collective mutual termination plan that impacted 40% of the headquarters workforce, the figure would have reached EUR25 million. This underlying improvement reflects recurring operating savings and disciplined cost management across the group’s divisions.

Gameloft, Vivendi’s gaming subsidiary, saw its EBITA climb 10.1% to EUR9 million despite a broader market slowdown. The publisher is increasingly pivoting toward PC and console titles, which now account for 49% of its total revenue. Meanwhile, the group’s investment portfolio, valued at EUR5.1 billion as of June 30, 2026, faces headwinds from the declining share price of Universal Music Group, though management maintains that the drop does not reflect the long-term value of the asset.