Universal Music Group 2012 Annual Report

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2012

ANNUAL REPORT

CONTENTS

1 2

GROUP PROFILE – BUSINESSES – LITIGATION – RISK FACTORS 1. 2. 3. 4. GROUP PROFILE BUSINESSES LITIGATION RISK FACTORS

2
4 16 45 51

4

FINANCIAL REPORT – CONSOLIDATED FINANCIAL STATEMENTS – STATUTORY AUDITORS’ REPORT ON THE CONSOLIDATED FINANCIAL STATEMENTS – STATUTORY AUDITORS’ REPORT ON THE FINANCIAL STATEMENTS – STATUTORY FINANCIAL STATEMENTS SELECTED KEY CONSOLIDATED FINANCIAL DATA

168
170
171

SOCIETAL, SOCIAL AND ENVIRONMENTAL INFORMATION
1. 2. 3. 4. 5. CORPORATE SOCIAL RESPONSIBILITY (CSR) POLICY SOCIETAL INFORMATION SOCIAL INFORMATION ENVIRONMENTAL INFORMATION VERIFICATION OF NON-FINANCIAL DATA

54
56 60 71 86

I. II.

2012 FINANCIAL REPORT APPENDICES TO THE FINANCIAL REPORT: UNAUDITED SUPPLEMENTARY FINANCIAL DATA CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2012 VIVENDI SA 2012 STATUTORY FINANCIAL STATEMENTS

207

III.

212 320

IV. 95

3

INFORMATION ABOUT THE COMPANY – CORPORATE GOVERNANCE
1. 2. 3. 4. GENERAL INFORMATION ABOUT THE COMPANY ADDITIONAL INFORMATION ABOUT THE COMPANY CORPORATE GOVERNANCE REPORT BY THE CHAIRMAN OF VIVENDI’S SUPERVISORY BOARD ON CORPORATE GOVERNANCE, INTERNAL AUDITS AND RISK MANAGEMENT – FISCAL YEAR ENDED DECEMBER 31, 2012 STATUTORY AUDITORS’ REPORT, PREPARED IN ACCORDANCE WITH ARTICLE  L.225-235 OF THE FRENCH COMMERCIAL CODE, ON THE REPORT PREPARED BY THE CHAIRMAN OF THE SUPERVISORY BOARD OF VIVENDI SA

100
102 103 118

5 6

RECENT EVENTS – OUTLOOK – STATUTORY AUDITORS’ REPORT
1. 2. 3. RECENT EVENTS OUTLOOK STATUTORY AUDITORS’ REPORT ON EBITA OR EBITDA FORECASTS BY BUSINESS UNIT

364
366 366

367

INDEPENDENT AUDITORS RESPONSIBLE FOR AUDITING – THE FINANCIAL STATEMENTS 1. INDEPENDENT AUDITORS RESPONSIBLE FOR AUDITING THE FINANCIAL STATEMENTS

368

156

5.

370

166

2012

ANNUAL REPORT

The Annual Report in English is a translation of the French “Document de référence” provided for information purposes. This translation is qualified in its entirety by reference to the “Document de référence”.

1

1
2
VIVENDI l 2012 l Annual Report

1

GROUP PROFILE – BUSINESSES – LITIGATION – RISK FACTORS SUMMARY
SECTION 1
GROUP PROFILE
1.1. 1.2. 1.3. Simplified Economic Organization Chart Key Figures Strategy

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5 6 10
10 10

2.1.7. 2.1.8. 2.1.9. 2.1.10.

Regulatory Environment Piracy Competition Research and Development

19 20 20 21

2.5.
2.5.1. 2.5.2. 2.5.3. 2.5.4. 2.5.5. 2.5.6. 2.5.7.

Maroc Telecom
Strategy/Positioning Morocco International 2012 Highlights Regulatory Environment Competition Research and Development

33
33 34 35 36 37 37 38

2.2.
2.2.1. 2.2.2. 2.2.3. 2.2.4. 2.2.5. 2.2.6. 2.2.7. 2.2.8. 2.2.9.

Universal Music Group
Strategy/Positioning Recorded Music Music Publishing Merchandising 2012 Highlights Regulatory Environment Piracy Competition Research and Development

22
22 22 23 23 23 24 24 24 24

1.3.1. Strategic Planning for all of Vivendi’s Businesses 1.3.2. Strengthening Vivendi’s Leadership Position in Content and Media 1.3.3. Repositioning Vivendi’s Telecoms Activities and Exploring Consolidation Opportunities

2.6.
2.6.1. 2.6.2. 2.6.3. 2.6.4. 2.6.5. 2.6.6. 2.6.7. 2.6.8.

GVT
Strategy/Positioning Products and Services Market/Distribution Network 2012 Highlights Regulatory Environment Competition Research and Development

39
39 39 40 41 41 42 42 43

11

2.3.
2.3.1. 2.3.2. 2.3.3. 2.3.4. 2.3.5. 2.3.6. 2.3.7. 2.3.8.

Activision Blizzard
Strategy/Positioning Activision Publishing Blizzard Entertainment 2012 Highlights Regulatory Environment Piracy Competition Research and Development

25
25 25 26 26 27 27 27 27

1.4.

Financial Communication Policy and Value Creation

12
12 12 13

1.4.1 Investment Policy 1.4.2. Financial Communication Policy 1.4.3. Value Creation in 2012

2.7.

Other Activities

43
43 43 44

1.5. 1.6.

Insurance Investments

14 15

2.7.1. Ticketing...
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