Compagnie de l'Odet (ODET) Q3 2024 earnings summary

Executive summary

• Revenue grew 2% in Q3 2024 and 4% in the first nine months of 2024 at constant scope and exchange rates.

• Reported revenue surged 74% in Q3 and 71% in the first nine months, mainly due to the full consolidation of Lagardère by Vivendi.

Financial highlights

• Q3 2024 revenue: €5,558 million, up 2% organically; reported growth 74%.

• Nine-month 2024 revenue: €16,149 million, up 4% organically; reported growth 71%.

• Communications segment led growth, with 5% organic increase in nine months and 2% in Q3.

• Oil logistics revenue declined 3% in nine months due to lower petroleum prices.

• Industry segment up 16% in nine months, driven by resumed deliveries and systems growth.

Outlook and guidance

• Vivendi's proposed split to be voted on December 9, 2024, with trading in new entities expected to begin December 16, 2024.

• Early repayment of Vivendi bond debt planned if split is approved.