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Financial Report and Audited Consolidated Financial Statements for the Year Ended

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Financial Report and Audited Consolidated Financial Statements for the Year Ended Financial Report and Audited Consolidated Financial Statements for the year ended December 31, 2017 February 15, 2018 VIVENDI Société anonyme with a Management Board and a Supervisory Board with a share capital of €7,128,323,856.50 Head Office: 42 avenue de Friedland – 75380 PARIS CEDEX 08 – FRANCE IMPORTANT NOTICE: READERS ARE STRONGLY ADVISED TO READ THE IMPORTANT DISCLAIMERS AT THE END OF THIS FINANCIAL REPORT. Thursday February 15, 2018 KEY CONSOLIDATED FINANCIAL DATA FOR THE LAST FIVE YEARS ............................................................................................................. 4 I- 2017 FINANCIAL REPORT ...................................................................................................................................................................................... 6 1 EARNINGS ANALYSIS: GROUP AND BUSINESS SEGMENTS ............................................................................................................................... 6 1.1 STATEMENT OF EARNINGS .................................................................................................................................................................................. 7 1.2 STATEMENT OF EARNINGS ANALYSIS ................................................................................................................................................................... 9 1.3 PERFORMANCE ANALYSIS: BUSINESS SEGMENTS ................................................................................................................................................ 14 2 LIQUIDITY AND CAPITAL RESOURCES ............................................................................................................................................................. 24 2.1 FINANCIAL NET DEBT AND EQUITY PORTFOLIO ..................................................................................................................................................... 24 2.2 CHANGES IN LIQUIDITY ...................................................................................................................................................................................... 26 2.3 CASH FLOW FROM OPERATIONS ANALYSIS .......................................................................................................................................................... 27 2.4 ANALYSIS OF INVESTING AND FINANCING ACTIVITIES ........................................................................................................................................... 29 3 OUTLOOK ....................................................................................................................................................................................................... 30 4 FORWARD-LOOKING STATEMENTS ............................................................................................................................................................... 30 5 OTHER DISCLAIMERS..................................................................................................................................................................................... 30 II- APPENDIX TO THE FINANCIAL REPORT ......................................................................................................................................................... 31 QUARTERLY REVENUES, INCOME FROM OPERATIONS AND EBITA BY BUSINESS SEGMENT .................................................................................................... 31 III- AUDITED CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2017 ............................................. 33 STATUTORY AUDITORS’ REPORT ON THE CONSOLIDATED FINANCIAL STATEMENTS ......................................................................... 33 CONSOLIDATED STATEMENT OF EARNINGS .................................................................................................................................................... 39 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME ...................................................................................................................... 40 CONSOLIDATED STATEMENT OF FINANCIAL POSITION ................................................................................................................................ 41 CONSOLIDATED STATEMENT OF CASH FLOWS ............................................................................................................................................... 42 CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY .............................................................................................................................. 43 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS .......................................................................................................................... 45 NOTE 1 ACCOUNTING POLICIES AND VALUATION METHODS ................................................................................................................................... 45 NOTE 2 MAJOR EVENTS .................................................................................................................................................................................... 61 NOTE 3 SEGMENT DATA .................................................................................................................................................................................... 67 NOTE 4 EBIT .................................................................................................................................................................................................... 71 NOTE 5 FINANCIAL CHARGES AND INCOME .......................................................................................................................................................... 72 NOTE 6 INCOME TAXES ..................................................................................................................................................................................... 73 NOTE 7 EARNINGS PER SHARE ............................................................................................................................................................................ 78 NOTE 8 CHARGES AND INCOME DIRECTLY RECOGNIZED IN EQUITY .......................................................................................................................... 79 NOTE 9 GOODWILL............................................................................................................................................................................................ 80 NOTE 10 CONTENT ASSETS AND COMMITMENTS ................................................................................................................................................... 84 NOTE 11 INVESTMENTS IN EQUITY AFFILIATES ........................................................................................................................................................ 86 NOTE 12 FINANCIAL ASSETS ................................................................................................................................................................................ 88 NOTE 13 NET WORKING CAPITAL .......................................................................................................................................................................... 90 NOTE 14 CASH POSITION ..................................................................................................................................................................................... 91 NOTE 15 EQUITY ................................................................................................................................................................................................. 92 NOTE 16 PROVISIONS .......................................................................................................................................................................................... 93 NOTE 17 EMPLOYEE BENEFITS .............................................................................................................................................................................. 94 NOTE 18 SHARE-BASED COMPENSATION PLANS .................................................................................................................................................... 99 NOTE 19 BORROWINGS AND OTHER FINANCIAL LIABILITIES AND FINANCIAL RISK MANAGEMENT ............................................................................... 103 NOTE 20 CONSOLIDATED CASH FLOW STATEMENT .............................................................................................................................................. 108 NOTE 21 RELATED PARTIES ................................................................................................................................................................................ 109 NOTE 22 CONTRACTUAL OBLIGATIONS AND OTHER COMMITMENTS........................................................................................................................ 114 NOTE 23 LITIGATION ......................................................................................................................................................................................... 119 NOTE 24 MAJOR CONSOLIDATED ENTITIES OR ENTITIES ACCOUNTED FOR UNDER THE EQUITY METHOD ......................................................................
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