Canal+ Reports Strong H1 Results Driven by MultiChoice Acquisition

Canal+ reported substantial gains in its first-half financial results, with total group revenues surging by 40% to €4.29 billion ($4.88 billion). This significant increase is primarily attributed to the company's strategic acquisition of Africa's leading pay-TV provider, MultiChoice, a deal valued at $2 billion. Without the inclusion of MultiChoice's performance, Canal+'s organic revenue growth would have been a more modest 1.4% year-on-year, compared to €3.07 billion in the same period of 2025. The acquisition has demonstrably bolstered Canal+'s financial standing, underscoring its expansion strategy across the African continent.

Beyond revenue, Canal+'s profitability also saw a marked improvement. Adjusted EBIT (earnings before interest and taxes), excluding exceptional items, rose by an impressive 68% to €433 million, up from €257 million in the prior year's comparable period. This substantial jump in operating profit highlights the financial synergies and operational efficiencies expected from the MultiChoice integration. The company's ability to grow earnings at a faster rate than revenue suggests successful cost management and value creation post-acquisition. Canal+ has been actively pursuing a strategy of consolidation and expansion in key growth markets, with Africa identified as a priority region for future development.

The acquisition of MultiChoice, which was finalized in the first half of the fiscal year, represents a pivotal moment for Canal+. MultiChoice, headquartered in South Africa, operates in numerous African countries, offering a wide array of television channels and digital services. Its extensive subscriber base and established infrastructure across the continent make it a highly strategic asset for Canal+. The integration of MultiChoice is expected to unlock further growth opportunities, including cross-selling of services, content optimization, and expanded market reach. Canal+ aims to leverage MultiChoice's local market expertise and Canal+'s global broadcasting capabilities to create a dominant media powerhouse in Africa.

Canal+ operates as a subsidiary of the French media conglomerate Vivendi. The company is a major player in the European pay-TV market and has been increasingly focused on international expansion, particularly in emerging markets. The MultiChoice deal positions Canal+ as a leading force in the African media landscape, competing with other regional and international players. The company's financial performance in this first half provides early evidence of the positive impact of this ambitious acquisition on its overall business trajectory and profitability. Further details on the integration progress and future outlook are anticipated in subsequent financial reports.