Canal+: 'solid' for 2024, but cautious for 2025

(CercleFinance.com) - On Tuesday, Canal+ reported preliminary 2024 results described as "solid", but also warned that its growth in 2025 would be penalised, amongst other things, by the disappearance of its C8 channel.


In a press release, the audiovisual group said that its sales totaled E6.45bn last year, up 3.6% on 2023.

Operating income (Ebita) rose by 4.4% to E503m, while cash flow from operations (CFFO) came in at E218m, in line with expectations.

Looking ahead to 2025, Canal+ said it expected to generate organic growth, but that this would be more than offset by the negative effects of C8's cessation of broadcasting and the end of its partnership with Disney in France.

As for cash flow from operations (CFFO), the Group anticipates a return to its 2023 level, pointing out that the low level in 2024 was due to the renewal of numerous contracts.

With regard to the pending takeover of South African broadcaster MultiChoice, Canal indicates that the squeeze-out procedure will not take place before October, whereas it was initially scheduled for April.

The group - which has 26.9 million subscribers in 52 countries on three continents - nevertheless believes that, with a limited debt of E355m, it is in a position to pursue its "active" M&A policy.

Listed on the London Stock Exchange, the share price was little changed (+0.6%) on Tuesday morning in the wake of these announcements. It has lost around 22% since it was first listed on 16 December.


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