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Universal revenue rises in first 9 months of 2012 - but earnings dip

Tom Pakinkis
UMG

Universal Music Group posted a revenue rise of 2.1% to €2.9 billion in the first nine months of 2012 year-on-year.

The rise comes thanks to an 8.6% increase in digital sales along with higher license income which helped to offset falling demand for physical product.

UMG posted a 2.5% decline in earnings before interest taxes and amortisation over the same period, however.

On a constant currency basis, Universal Music’s EBITA fell by 5% along with revenue, which fell 3.4%.

The period does not include the acquisition of EMI Music, which closed on September 28.

Following the financial report, UMG said that the sale process of certain EMI Music assets is underway and “generating robust interest”.

Meanwhile, UMG parent company Vivendi posted an adjusted net income of $845 million (€665m) – down 2.9% year-on-year while EBITA fell 7.3% to $1.77 billion (€1.39bn).

Revenue for the entertainment and telecom company decline 1.6% to $8.48 billion (€6.67bn).

Via: Billboard

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Tags: umg, universal, Vivendi, Digital, CD, finance

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