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Rapport Annuel Document De Référence Sommaire 2016 RAPPORT ANNUEL DOCUMENT DE RÉFÉRENCE SOMMAIRE MESSAGES DU CONSEIL DE SURVEILLANCE ET DU DIRECTOIRE 02 1 4 Profil du groupe et ses métiers | Rapport financier | Rapport des Commissaires Communication financière, politique fiscale aux comptes sur les comptes consolidés | et cadre réglementaire | Facteurs de risques 05 États financiers consolidés | Rapport des 1. Profi l du groupe et ses métiers 07 Commissaires aux comptes sur les comptes 2. Communication fi nancière, politique fi scale et cadre réglementaire 43 annuels | Comptes annuels de Vivendi SA 183 3. Facteurs de risques 47 Chiffres clés consolidés 184 I - Rapport fi nancier de l’exercice 2016 185 II - Annexe au rapport fi nancier : données fi nancières complémentaires non auditées 208 III - États fi nanciers consolidés de l’exercice clos le 31 décembre 2016 210 2 IV - Comptes annuels 300 Informations sociétales, sociales et environnementales 51 1. Politique de responsabilité sociétale de l’entreprise (RSE) 52 2. Messages clés 58 5 3. Indicateurs sociétaux, sociaux et environnementaux 64 4. Vérifi cation des informations extra-fi nancières 101 Événements récents | Prévisions | Rapport des Commissaires aux comptes sur les prévisions de résultat opérationnel ajusté (EBITA) 343 1. Événements récents 344 2. Prévisions 344 3 3. Rapport des Commissaires aux comptes sur les prévisions Informations concernant la société | de résultat opérationnel ajusté (EBITA) 345 Gouvernement d’entreprise | Rapports 107 1. Informations générales concernant la société 108 2. Informations complémentaires concernant la société 109 3. Gouvernement d’entreprise 125 4. Rapport du Président du Conseil de surveillance de Vivendi 6 sur le gouvernement d’entreprise, le contrôle interne Responsable du Document de référence | Attestation et la gestion des risques – exercice 2016 172 du Responsable du Document de référence | 5. Rapport des Commissaires aux comptes, établi en Responsables du contrôle des comptes 347 application de l’article L. 225-235 du Code de commerce, sur le rapport du Président du Conseil de surveillance 1. Responsable du Document de référence 348 de la société Vivendi 181 2. Attestation du Responsable du Document de référence 348 3. Responsables du contrôle des comptes 349 TABLE DE CONCORDANCE 350 RAPPORT ANNUEL - DOCUMENT DE RÉFÉRENCE 2016 RAPPORT ANNUEL DOCUMENT DE RÉFÉRENCE 2016 Le présent Document de référence a été déposé auprès de l’Autorité des marchés fi nanciers le 14 mars 2017, conformément à l’article 212-13 de son Règlement général. Il pourra être utilisé à l’appui d’une opération fi nancière s’il est complété par une note d’opération visée par l’Autorité des marchés fi nanciers. Ce document a été établi sous la responsabilité de l’émetteur et engage la responsabilité de ses signataires. RAPPORT ANNUEL - DOCUMENT DE RÉFÉRENCE 2016 1 Le Directoire autour de Vincent Bolloré. DE GAUCHE À DROITE : Simon Gillham, Membre du Directoire, Président de Vivendi Village et Directeur de la communication de Vivendi - Vincent Bolloré, Président du Conseil de surveillance - Frédéric Crépin, Membre du Directoire et Secrétaire général du groupe - Arnaud de Puyfontaine, Président du Directoire - Stéphane Roussel, Membre du Directoire et Directeur général en charge des opérations - Hervé Philippe, Membre du Directoire et Directeur fi nancier. UNE STRATÉGIE CLAIRE ET AMBITIEUSE Les équipes de Vivendi sont en train de voit que Vivendi en détenait déjà certains et a Vivendi peut poursuivre cette stratégie construire un groupe mondial de contenus et dû procéder à d’importantes acquisitions pour ambitieuse dans plusieurs régions comme en de médias. C’est une industrie qui compte posséder l’ensemble des contenus consommés Afrique, en Asie et en Europe du Sud grâce à parmi les plus attractives du 3e millénaire : les dans le monde avec Universal Music Group une structure financière très solide et à son consommateurs de demain seront tout d’abord (musique), Gameloft (jeux mobiles) et Groupe actionnaire de référence, le Groupe familial plus nombreux à pouvoir se divertir. Deux Canal+ (TV/cinéma). Bolloré (29 % des droits de vote en avril 2017), milliards d’individus en Afrique, en Asie et en Les équipes en charge des différents contenus qui lui offre la stabilité nécessaire à long terme. Amérique du Sud entreront dans l’économie des et des médias travaillent désormais comme un Ces développements ambitieux, qui vont loisirs à horizon 2025 et ils seront également groupe industriel : ensemble, créant ainsi plus permettre une forte création de valeur à terme, mieux équipés pour accéder aux contenus de de valeur. divertissement : dans le monde, le nombre de seront associés à une distribution de dividendes smartphones - premier écran de consommation Vivendi se développe donc aussi sur la représentant un rendement d’environ 2 % media - devrait passer de quatre milliards en distribution en renforçant ses propres capacités par action. 2016 à plus de six milliards en 2020. à travers Groupe Canal+ et en procédant à des acquisitions de plateformes comme Si l’on regarde quels sont les contenus Dailymotion, en établissant des partenariats aujourd’hui les plus consommés dans le avec des opérateurs té lé coms et des plateformes monde (la musique, les jeux vidéo, les films/ numériques (GAFA) pour offrir à ses contenus une Vincent Bolloré séries et les programmes de flux/le live), on exposition à la fois locale et mondiale. Président du Conseil de surveillance 2 RAPPORT ANNUEL - DOCUMENT DE RÉFÉRENCE 2016 Messages du Conseil de surveillance et du Directoire UNE ANNÉE 2016 DE TRANSITION, UNE ANNÉE 2017 DE CROISSANCE Acquisition de Gameloft, ouverture de la première (RSE), fondée notamment sur la promotion En France, un plan de transformation a été salle CanalOlympia en Afrique, lancement de des talents locaux. engagé pour insuffl er une nouvelle dynamique à Canal+ : positionnement éditorial clarifié Studio+ en Europe et en Amérique latine… Reconnu dans la musique, le savoir-faire créatif entre les chaînes payantes (Canal+) et les Vivendi a poursuivi en 2016 la dynamique de Vivendi s’est également élargi aux jeux chaînes gratuites (C8, CStar et CNews) ; offres enclenchée depuis deux ans pour devenir vidéo mobiles en 2016 grâce à l’acquisition de commerciales repensées autour de packs une référence mondiale dans la création et la Gameloft, une société de renommée mondiale thématiques « à la carte » ; plan d’optimisation distribution de contenus de divertissement. avec un milliard de jeux téléchargés. Son des coûts de 300 millions d’euros devant Les derniers mois ont confi rmé que le gr oupe intégration se déroule dans d’excellentes produire son plein effet à horizon 2018… Enfi n, formait un ensemble industriel cohérent capable conditions et s’est déjà traduite par un plan de Vivendi possède la plateforme Dailymotion, de faire travailler ses différentes entités les développement qui lui permettra de remettre qui est une vitrine numérique de nos contenus unes avec les autres et de mettre leurs atouts la créativité au cœur de son modèle de au niveau mondial avec 3 milliards de au service d’une ambition commune. croissance. Grâce à Gameloft, Vivendi prend vidéos visionnées chaque mois. Un nouveau position dans les jeux, une industrie à fort Vivendi sort d’une année dense qui lui a permis Dailymotion doté d’une offre éditoriale plus de consolider ses fondations tout en franchissant potentiel et complémentaire de ses métiers. premium et d’une expérience utilisateur plus de nouveaux paliers de développement. Sa participation dans le capital d’Ubisoft fl uide verra le jour courant 2017. s’inscrit dans la même logique. Le groupe a tout d’abord confi rmé sa capacité à Pour atteindre une taille critique et élargir construire des positions de leader sur les trois Enfin, Vivendi a renforcé en 2016 le au maximum la diffusion de ses contenus, segments les plus dynamiques des industries troisième pilier de ses activités de contenus : Vivendi s’est également allié à de nombreux créatives : la musique avec Universal Music l’audiovisuel. Dans le cinéma, Studiocanal a acteurs de la distribution. Le g roupe a noué des Group (UMG) ; les jeux mobiles avec Gameloft ; continué à produire de grands fi lms populaires partenariats stratégiques avec des opérateurs la télévision et le cinéma avec Groupe Canal+. tels que Bridget Jones Baby, qui a totalisé télécoms (Telecom Italia, Telefonica, Orange, En 2016, ce sont plus de 2,5 milliards d’euros le plus grand nombre d’entrées en salles au Free, Bouygues…) pour se renforcer localement qui ont été investis dans les contenus. Royaume-Uni en 2016. Dans les séries, Canal+ et avec des grandes plateformes numériques a continué à se distinguer par la qualité de (GAFA, Spotify, Deezer…) pour rayonner T out d’abord, UMG a réalisé une belle année ses « Créations Originales » qui, de The Young mondialement. 2016, sous l’impulsion notamment du streaming Pope à Jour polaire en passant par Le Bureau par abonnement qui a redynamisé le marché des légendes, rencontrent de larges succès Toutes ces réalisations confi rment que Vivendi mondial de la musique enregistrée. Depuis d’audiences. se donne les moyens de bâtir un ensemble 2014, le nombre d’abonnés payants à des créateur de forte valeur à terme. Si 2016 a été services de streaming dans le monde a plus que Dans le même temps, Vivendi a engagé des une année de transition, 2017 sera une année doublé pour atteindre la barre symbolique des investissements importants dans des grandes de croissance. En 2017, le chiffre d’affaires 100 millions en 2016. Grâce à des accords avec sociétés européennes audiovisuelles (Mediaset, de Vivendi devrait augmenter de plus de 5 %. plus de 400 plateformes de streaming, UMG est Banijay Group, Urban Myth Films, Bambu Grâce aux mesures prises en 2016, le résultat aujourd’hui un acteur majeur de cette révolution Producciones…). Le g roupe s’est également opérationnel ajusté (EBITA) devrait progresser des modes de consommation musicale. Les lancé dans la production de formats courts de l’ordre de 25 %.
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