HITS Daily Double

UMG rev up 8.3% in 2012

OOH LA LA: UMG was one of the brightest spots in the fiscal 2012 earnings of parent company Vivendi, as the Lucian Grainge-led powerhouse racked up $593 million in revenue, a whopping 8.3% year-over-year increase. Universal’s EBITA was up 3.6% to $685.2 million, and Vivendi predicts that the group’s EBITA this year will increase "with a positive contribution from EMI Recorded Music, including restructuring changes," forecasting synergies of more than $151.4 million. Excluding EMI and at constant currency, EBITA was up 1.6% in 2012. Vivendi’s adjusted net income for 2012 was $3.78 billion, exceeding its projected target, but a 13.6% decline from 2011. Revenue for the multinational company was up 0.6% to $37.8 billion. (2/27a)