CANAL+ Q3 2025 results

CANAL+ (LSE: CAN, the “Company”, the “Group”), the global media and entertainment company, today released its unaudited consolidated trading statement for the nine months ended 30 September 2025.

CANAL+ 9-MONTH REVENUE IN LINE WITH GUIDANCE.

CANAL+ IN CONTROL OF MULTICHOICE GROUP, WILL HAVE FULL OWNERSHIP AND LAUNCH SECONDARY LISTING ON JSE.

CANAL+ SIGNS AGREEMENT TO ACQUIRE MINORITY STAKE (34%) IN UGC.

9-MONTH 2025 HEADLINES

Revenue

 Total revenue of the combined Group: €4,684M.

 Total Group revenue excluding MultiChoice: €4,606M, up +1.2% organically . Taking into account discontinued contracts and activities (termination of Disney contract, UEFA Champions League sublicensing partnership and closure of C8 channel), revenue down 2.4%.

 All three CANAL+ segments (excl. MultiChoice) grew organically3 in Q3 25 and 9M 25.

 MultiChoice Group revenue consolidated from 20 September 2025 (+€78M).

FULL YEAR OUTLOOK CONFIRMED

 On track to achieve 2025 revenue guidance.

 EBITA guidance confirmed at c. €515M.

 Cash guidance reiterated. CFFO to exceed €500M. Over €370M FCF expected.

Maxime Saada, Chief Executive Officer of CANAL+, said:

“Over the nine months we have made significant progress on delivering our strategic and financial priorities.

“With the coming together of CANAL+ and MultiChoice, a clarified path to full ownership by CANAL+ and an upcoming secondary listing in Johannesburg, our business begins a transformational new era. With 40 million customers across 70 countries, we now have true scale. We are committed to generating value creation at pace and utilising our greater scale to deliver synergies and improve our combined business for the benefit of our customers, colleagues and shareholders.

“STUDIOCANAL continues to deliver on content, with highly anticipated movies coming before the end of the year. I am pleased to confirm we have signed with UGC, which demonstrates our long-term commitment to French and European Cinema and theatrical exhibition.

“On distribution, following our deals with Samsung, LG, Philips and VIDAA, we announced yesterday a new deal with Thomson that will see the CANAL+ App pre-installed on all new Thomson Smart TVs and a CANAL+ button on all remote controls, along with the global streaming platforms.

“Finally, and most importantly, I am pleased to confirm we remain on track to deliver our full year guidance on revenue, EBITA and cash.”

For further enquiries please contact :

Alima Levy : ir@canal-plus.com
Andrew Swailes : andrew.swailes@canal-plus.com