United Kingdom · Delayed Price · Currency is GBP · Price in GBX Canal+ Earnings Call Transcripts
Fiscal Year 2026
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9M revenue exceeded €6.4bn, up 1% on a restated basis, and 2026 guidance remains on track. Africa growth and improving MultiChoice trends offset softness in Europe and advertising; VAT mitigation is targeted by 2028.
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Revenue grew 40% year-on-year to EUR 4.3 billion, with adjusted EBIT up 68% to EUR 433 million, driven by MultiChoice integration and cost synergies. Subscriber base exceeded 41 million, and the group remains on track for full-year guidance, despite one-off H1 tailwinds.
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The acquisition targets Africa's high growth potential, aiming for over EUR 400 million in cost synergies by 2030, with significant benefits from content, technology, and procurement. Integration is underway, with a focus on expanding market presence and mitigating FX risks.
Fiscal Year 2025
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Exceeded 2025 financial targets, resolved major tax issues, and integrated MultiChoice, launching a turnaround plan. 2026 guidance targets further EBIT and cash flow growth, with accelerated cost synergies and a unified OTT strategy in Africa.
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Organic revenue grew 0.9% in H1 2025, with EBITA and cash flow exceeding expectations, driven by cost reductions, strategic exits, and strong content performance. The MultiChoice acquisition and new partnerships position the group for global expansion and sustained profitability.
Fiscal Year 2024
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Revenue grew 3.6% to EUR 6.45 billion in 2024, with adjusted EBITDA up 5.4% and a focus on high-value D2C subscribers. Major content successes, new asset integrations, and progress on the MultiChoice acquisition support the ambition to reach 50–100 million subscribers.