In response to analysts who have criticized Vivendi Universal's financial reporting as too confusing, the French giant reported last week that total actual sales in 2001 were 57.4 billion euros ($50.4 billion). Total revenues include contributions of 29.1 billion euros from its environment services business and 28.1 billion euros from its media and communications operations.
The company's pro forma results, which include the various acquisitions Vivendi made over the last two years as if those companies had been part of the company since 2000, show total revenues of 58.2 billion euros, an increase of 9.7% over pro forma sales of 53.0 billion euros in 2000. Revenues from the media and communications group increased 9.1% to 28.9 billion euros. Within that group, revenues from the publishing division increased 5.0%, to 4.7 billion euros. Vivendi said that growth in the publishing division was led by its games unit, which had a 23% increase, and education, where sales increased 9% due in part to the inclusion of Houghton Mifflin, which Vivendi bought in June (News, June 11, 2001). Vivendi said that games and education would be the publishing group's two major businesses for the future.
