Canal+ SA on Tuesday said revenue in the first quarter of the year was in line with expectations, and it confirmed its guidance for all of 2025.
The Paris-based subscription television and video streaming business said group revenue was €1.55 billion in the three months that ended March 31. This was down 2.5% from €1.59 billion a year before, due to the previously guided cancellation of unprofitable contracts. On an organic basis, revenue was up 1.5%.
In Europe, revenue was €1.15 billion, down 4.5% on a reported basis from €1.20 billion, but up 0.8% on an organic basis. In Africa and Asia, revenue was down 2.3% to €267 million from €274 million.
Canal+ is the result of a four-way split of media conglomerate Vivendi SA into Canal+, publisher Louis Hachette, and advertising firm Havas. Hachette now is listed in Paris, while Havas is listed in Amsterdam. Vivendi itself continues as a holding group and remains listed in Paris.
Based on the first quarter results, Canal+ confirmed the 2025 outlook that it provided with its 2024 results at the beginning of March.
At the time, the company said organic revenue growth will be more than offset by the end of broadcasting on its French free-to-air channel C8 and the termination of sub-licensing contracts and third-party content contracts in France, including Walt Disney Co.
Canal+ shares were up 1.1% to 174.15 pence on Tuesday afternoon in London. This is down 40% from its initial public offering price of 290p back in December.
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