28th Jul 2026 08:52
(Alliance News) - Canal+ SA on Tuesday reported "strong" interim profit, getting a boost from its newly acquired MultiChoice Group Ltd and "seasonality effects".
The Paris-based media and entertainment group delivered pretax earnings of EUR216 million for the six months that ended June 30, up 65% from EUR131 million a year earlier.
Revenues rose 40% to EUR4.29 billion from EUR3.07 billion, owing to the contribution from MultiChoice.
Canal+ took over MultiChoice early in December last year, resulting in the delisting of the Johannesburg-based entertainment company that owns DStv. Canal+ listed on the Johannesburg Stock Exchange early last month.
Adjusted earnings before interest and taxes before exceptional items for the first half surged 68% to EUR433 million from EUR257 million, Canal+ said, crediting MultiChoice for this dramatic change. Excluding MultiChoice, adjusted Ebit was up just 13%.
In Africa and Asia, Canal+ lifted subscribers for the first half to 22.6 million, up 7.2% from 21.1 million. As part of the MultiChoice turnaround plan, Canal+ said it reduced entry costs for new subscribers and expanded its sales network.
The number of subscribers in Europe rose 10% to 18.6 million from 16.9 million. It secured UEFA rights in multiple markets, including Belgium.
For the first half, free cash flow before exceptional items was up 8.1% to EUR414 million from EUR383 million.
Basic earnings per share from continuing operations rose 13% to 0.09 euro cents from 0.08 cents.
Canal+ also said its first half financial performance benefitted from significant positive "seasonality effects", which refers to predictable fluctuations in revenue, subscribers, advertising and profitability.
Looking ahead, Canal+ said it expects annual revenue to remain flat in 2026, compared to EUR6.45 billion in 2025, and adjusted Ebit to rise to EUR735 million from EUR527 million in 2025, in line with guidance.
The group said it is well on track to achieve 2026 synergies target of EUR250 million adjusted Ebit.
In London, shares in Canal+ were up 7.9% to 250.00 pence on Tuesday morning, and rose 7.4% to ZAR55.69 in Johannesburg.
By Artwell Dlamini, Alliance News senior reporter South Africa
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