Vivendi reported revenue of €140 million for the first half of 2026, down 3.5% from €145 million in the prior-year period. The decline was primarily related to the timing and seasonality of game releases at Gameloft.
EBITA was €4 million compared with €18 million a year earlier. The result included a €21 million net impact from a collective mutual termination program affecting the group’s headquarters.
Excluding that restructuring impact, Vivendi said EBITA would have been €25 million. Recurring corporate operating expenses declined 13.8%.
Earnings attributable to Vivendi shareholders were €28 million.
Gameloft generated revenue of €132 million during the first half, down 6.1% at constant currency and perimeter. However, Gameloft EBITA increased 10.1% to €9 million and its EBITA margin increased to 6.6% from 5.5%.
PC and console products accounted for 49% of Gameloft revenue. The company released Nickelodeon Extreme Tennis Next! and Family Feud Pocket during the period, with Bluey’s Happy Snaps planned for the second half of 2026 in collaboration with the BBC.
Vivendi also continued repositioning its portfolio. In March, it acquired Prisma Media’s luxury division for €10 million and renamed the business V Collection. The portfolio includes the French license for Harper’s Bazaar along with Côté Maison, IDEAT, MilK, and The Good Life.
The company’s investment portfolio was valued at €5.117 billion as of June 30. Vivendi’s listed investment portfolio remained affected by the decline in Universal Music Group’s share price.
Financial net debt increased to €1.591 billion from €1.501 billion at the end of 2025, primarily reflecting investments in V Collection and Prisma Group and payment of Vivendi’s fiscal 2025 dividend.
KEY QUOTES:
“In a video game market under significant pressure, Gameloft demonstrated its strict cost control management and its strategic objective of rebalancing towards the PC/console segment. As of June 30, 2026, its EBITA increased by 10.1% compared to the same date of the previous year and its PC/console activities represented 49% of its revenues. Two new games were released, Nickelodeon Extreme Tennis Next! and Family Feud Pocket, while the release of Bluey’s Happy Snaps during the second half of 2026, in collaboration with the BBC, is highly anticipated. Vivendi’s corporate operating costs improved by 13.8% compared to the first half of 2025 excluding the net impact of the collective mutual termination plan at the group’s headquarters. This plan was carried out in a constructive spirit and concerned 40% of the headquarters workforce. Excluding this impact, EBITA, which stands at €4 million for the first half of 2026, would have amounted to €25 million. Our investment portfolio of listed companies, valued at €4.8 billion as of June 30, 2026, and €4.1 billion as of August 31, 2026, compared to €5.5 billion as of December 31, 2025, remained impacted by the sharp decline in Universal Music Group’s share price. The first half of the year also saw the successful integration of Prisma Media’s luxury division which became a wholly-owned subsidiary of Vivendi and was renamed V Collection. Our ambition is to make it the benchmark for media and cultural luxury content in France and internationally, by fully playing our role as incubator and enabler of high-potential creative assets. This acquisition exemplifies our strategic approach: creating value, developing the businesses we control, and actively managing our portfolio of investments, three mutually reinforcing pillars.”
Yannick Bolloré, Chairman of Vivendi’s Supervisory Board, and Arnaud de Puyfontaine, Chief Executive Officer of Vivendi
