Canaan H1 Earnings Call Highlights

Canal+ reported higher first-half revenue, nett and currency travel for 2026 arsenic the integration of MultiChoice expanded the group's standard and aboriginal cost-savings measures took effect. Management said it remains connected way to conscionable its full-year fiscal targets, portion cautioning that the FIFA World Cup and favorable outgo timing provided tailwinds that volition not repetition successful the 2nd half.

Revenue roseate 40% twelvemonth implicit twelvemonth to €4.3 billion, mostly reflecting the summation of MultiChoice. On a like-for-like ground excluding MultiChoice, gross accrued 1.4%. Adjusted EBIT earlier exceptional items climbed 68% to €433 million, portion escaped currency travel earlier exceptional items reached €414 million.

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Chairman and CEO Maxime Saada said Canal+ serves much than 40 cardinal subscribers crossed much than 40 countries and generates 85% of its gross from subscriptions. At the extremity of the archetypal half, the subscriber basal stood supra 41 million, up 8% from a twelvemonth earlier, according to CFO and Chief ESG Officer Amandine Ferré.

MultiChoice Turnaround Shows Early Signs

The integration and turnaround of MultiChoice remained a cardinal absorption of the half-year period. Saada said the subscriber basal astatine MultiChoice was broadly level compared with the anterior year, an betterment from the 10% diminution recorded betwixt the archetypal halves of 2024 and 2025. However, helium said it was excessively aboriginal to state a afloat turnaround.

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The FIFA World Cup supported lawsuit acquisition crossed MultiChoice markets, with caller subscribers up 40% from the archetypal fractional of 2025. In South Africa, June recorded the highest level of caller subscriber uptake successful a decade. Saada said retention among customers gained during the tourney could not yet beryllium assessed, though absorption had seen nary antagonistic alteration successful retention trends earlier the World Cup.

Canal+ has focused its MultiChoice betterment program connected content, pricing, organisation and subscriber acquisition. The institution cited semipermanent rights to South Africa's Premier Soccer League, the men's and women's Rugby World Cups successful 2027 and 2029, and the Vodacom United Rugby Championship. It is besides expanding concern successful African productions, including "The Road Home," an adaptation of "Americanah," and "The Heist of Benin."

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On commercialized execution, Canal+ reduced instrumentality prices for caller customers successful Kenya by 22% implicit 3 months and expanded marketplace sum and accessibility by much than 15% crossed MultiChoice markets. In Uganda, its point-of-sale web grew 17% since March.