Canal+ Group Posts Solid Full-Year Results and Pursues Acquisition of South Africa’s MultiChoice Despite Rocky Start at London Stock Exchange

variety.com:

Elsa Keslassy International Correspondent French TV outfit Canal+ Group unveiled on Tuesday solid full-year financial results for 2024 and plans to pursue its international M&A strategy, even though its market value has dropped drastically (to an estimated $2.1 billion) since being listed as a standalone entity by its parent company Vivendi at the London Stock Exchange.

Canal+ posted total revenues of €6.45 billion ($6.8 billion), a 3.6-percent increase on 2023 while its EBITA was up by 5.4% to €503 million ($529 million).

The pay TV group is also still on track to complete its acquisition of MultiChoice, the leading PayTV operator in English and Portuguese-speaking Africa, which was initially planned for April and has now been delayed by six months (to Oct.

8) due to local regulations. Enders’ senior analyst Francois Godard said the Canal+’s full-year result confirm that it’s a “value stock,” but that “it’s not a company that will see tremendous growth.” “When you see tech companies who are posting 20% growth every year, that’s not what Canal+ is doing and that’s never been what they promised.