Canal+ SA (CAN) Earnings Call Transcripts

Canal+ SA's Latest Earnings Call - May 29, 2026

In the first quarter of 2026, Canal+ SA reported a revenue of EUR 9 billion and an adjusted EBITDA of EUR 700 million, exceeding expectations. The company highlighted its successful acquisition of MultiChoice, which is expected to drive future growth, particularly in Africa. Management maintained a cautious outlook for 2026, projecting stable revenue and continued profitability improvements, with a target EBITDA of EUR 737 million.

Reported metrics

Guidance from management

Management expects stable revenue in 2026 with continued improvements in profitability, targeting an EBITDA of EUR 737 million and free cash flow of EUR 250 million. They emphasized the importance of integrating MultiChoice and enhancing operational efficiencies.

What management said

Well done. Thank you, Amandine, for this very clear, excellent presentation with figures. And now I have the great pleasure to call Pierre-Ignace Bernard to come up on stage. He is the Chair of the Audit Committee and Sustainability Committee.

Thank you, Pierre-Ignace. And many thanks to all of the members of the Audit Committee for your commitment and the quality of your work. Let's now welcome Jean-Francois [indiscernible] from Grant Thornton, speaking on behalf of the group's statutory auditors.

What analysts pressed on

Analysts raised concerns regarding the impact of digital piracy on subscriber growth in Africa, questioning the effectiveness of Canal+'s strategies in combating this issue. There was also skepticism about the pace of recovery for MultiChoice's subscriber base following recent declines.

Main topics on the call

• MultiChoice Acquisition Impact — Management emphasized that the acquisition of MultiChoice is a strategic priority, aiming to leverage its scale for growth in Africa. Maxime Saada stated, "The acquisition of MultiChoice puts us in a particularly strong ...
• Financial Performance — Canal+ reported revenue of EUR 9 billion for 2025, with adjusted EBITDA of EUR 700 million. Amandine Ferre noted, "We met and exceeded all of our financial objectives, including revenue, EBITDA and free cash flow."
• Content Strategy and Rights Acquisition — The company secured key broadcasting rights, including the Champions League in France, which strengthens its content offering. Saada mentioned, "We have secured exclusive renewal of all our European football rights in Fr...
• Cost Management Initiatives — Management highlighted strict cost management as a key focus, with Amandine Ferre stating, "We've gone through each of our costs line by line with a simple objective, spend less, but to spend more wisely."

Read the full Canal+ SA transcript (May 29, 2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 25 Canal+ SA earnings call transcripts on record, spanning August 31, 2020 to July 28, 2026. Based on this history, Canal+ SA reports quarterly. The most recent call on file is dated July 28, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

CAN

Exchange

LSE

Country

GB

Sector

Communication Services

Industry

Media

Calls on record

25

First call

August 31, 2020

Most recent

July 28, 2026

Reporting cadence

quarterly