Analyzing financial statements - Vivendi and Carrefour

Résumé du document

Vivendi is one of the largest companies in the sector of the entertainment and the communication. It is the first (worldwide) concerning the video games, the music, the telecom in France and Morocco and the TV-pay in France. It products and distributes contents all around the world with a global and coherent strategy of creation and distribution.

It is a group with a past of failures which succeeded to come back to the first rank. Vivendi count a lot of interesting companies such as Activision Blizzard, Universal Music Group, Sfr, Maroc telecom, the group Canal + and zaOza. The kind of markets which Vivendi is presented, has been radically changed because of the new technology (mainly Internet). That's means a lot of new challenges to face up for making profits. The activities changed and Vivendi found new sources of incomes.

Compare to Carrefour, Vivendi creates and distributes contents. It is not the same industry and both have specific activities, strengths, weaknesses, opportunities, threats, etc ... Carrefour is actually in a period of troubles : its market changes, people has new expectations and they need to think about their model. Nevertheless, Carrefour has a high level of global revenues and its number of products sold is really impressive.

Extraits

[...] The annual revenues are about 4,554 millions of euros and the EBITA is about 636 millions of euros. ZaOza is a subsidiary entirely owned by Vivendi. It is a “mobile-centric entertainment B2C services“. In other terms, it is a company which provides services for mobile phones such as games, musics and other digital contents. They tried to take the opportunities offered by the new market of the mobile phone new generation which allows to use a large amount of tools and services. It is a market which is really promising but with a lot of competitors. [...]

[...] The annual revenues are not communicated by Vivendi but the number of subscribers is about 350000 members. Global strategy of Vivendi Vivendi wants to reinforce its position of leader in term of entertainment and communication. They need to ensure their activities in order to develop each subsidiaries. The market of video games is actually the one which knows an incredibly growth (for instance, a video game such as World of Warcraft, “more than 2.8 million copies has been sold in 24 hours” after its release). [...]

[...] (1)The kind of markets which Vivendi is presented, has been radically changed because of the new technology (mainly Internet). That's means a lot of new challenges to face up for making profits. The activities changed and Vivendi found new sources of incomes. Compare to Carrefour, Vivendi creates and distributes contents. It is not the same industry and both have specific activities, strengths, weaknesses, opportunities, threats, etc . Carrefour is actually in a period of troubles : its market changes, people has new expectations and they need to think about their model. [...]

[...] In conclusion, the forecast is positive. Company / financial Common size between the two companies: ASSETS 2009 2008 : LIABILITIES 2009 - 2008 ASSETS 2009 2008 : LIABILITIES 2009 - 2008 Remarks : We can remark that between 2008 and 2009, Vivendi has more cash (from to 6.5 It could be explained by the good result of Canal+ and Activision Blizzard (with the launch of the new World of Warcraft). Contrary to Carrefour which pass from 5317 to 1923 in cash. [...]

[...] Today, Carrefour has to face up a deep crisis (for instance, the sales in France have really decreased since 2 years) because of the competition with the hard discounters, the economic crisis and the evolution of the expectations of the consumers (which wants more and more to buy products in smaller stores, closer of their home, in their neighborhood, “Seventy-four percent had a positive view of the city centre“). Actually, Carrefour has to deal with all these issues for ensuring its future growth. An important relaunch plan for reorganizing the shop all around the Europe has been allocated. [...]